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8. 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.
Eligibility
• 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 Outstandings to other banks.
Loan amount: Loan may be considered for:
• 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
Source: http://www.statebankofindia.com/portal/agri |
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