Land Purchase Scheme - Agricultural Banking | SBI - Agri & Rural
Land Purchase Scheme
Purpose To assist Small & Marginal farmers and landless agricultural labourers for purchase of Land, who are our existing borrowers to consolidate land holdings & development of Wasteland & fallow lands.
Features
- Loan Amount : Cost of land
- Provision of irrigation facilities & land development (shall not exceed 50% of the cost of the land).
- Purchase of farm equipments.
- Registration charges & stamp duty.
- Loan amount will be 85 % of the cost of the land, as assessed by the bank, subject to the maximum of Rs 5 lakhs Security
- Mortgage of land to be purchased
- Max. 9-10 years beginning after the expiry of gestation period, with half-yearly installments. Gestation period will be maximum of 1 year for the developed land and 2 years for the land to be developed.
Who are eligible?
- Small & Marginal Farmers owning less than 5 acres of unirrigated / 2.5 acres of irrigated land in their own names, landless agricultural labourers.
- The borrowers should have a record of prompt repayment of the loan for at least two years.
- Good borrowers of other Banks are also eligible provided they liquidate their Outstanding to other banks.
Last Updated On : Tuesday, 03-12-2019
Interest Rates
2.70% p.a.
less than Rs.10 Cr. w.e.f 15.10.22
3.00% p.a.
Rs.10 Cr. and above w.e.f 15.10.22
2.70% p.a.
Balance below Rs. 10 crs
3.00% p.a.
Balance Rs. 10 crores and above
Miscellaneous Activities
Limited Time Offers - Unlimited Joy
Criteria
- Features
- Eligibility
- Terms and Conditions
Interest Rates
2.70% p.a.
less than Rs.10 Cr. w.e.f 15.10.22
3.00% p.a.
Rs.10 Cr. and above w.e.f 15.10.22
2.70% p.a.
Balance below Rs. 10 crs
3.00% p.a.
Balance Rs. 10 crores and above