Loans
Agriculture Loans
Home >> Loans >> Agriculture Loan
Term Loan for Agriculture Land
To enable general public to purchase agricultural lands with a view to make agricultural holdings economically viable, to improve agricultural production & productivity and to take up additional agricultural & allied activities.
Eligibility
Small/Marginal farmers & other farmers irrespective of land holding
Applicants without agricultural land holding are also eligible
Minimum age: 18 years & Maximum exit age at the time of loan closure is 75 years
Minimum loan quantum is Rs.1.00 lakh
Lowest of A or B or C:
A:- SRO certificate value of the agricultural land to be purchased inclusive of registration charges after deduction of applicant’s margin
B:- 5 times the agricultural income of the applicant farmer assessed based on existing land holding OR- 5 times the average annual income as per ITRs of the applicant for the last 2 years
C:- Purchase consideration evidenced by sale agreement with vendor of the agricultural land after deduction of applicant’s margin
A:- SRO certificate value of the agricultural land to be purchased inclusive of registration charges after deduction of applicant’s margin
B:- 5 times the agricultural income of the applicant farmer assessed based on existing land holding OR- 5 times the average annual income as per ITRs of the applicant for the last 2 years
C:- Purchase consideration evidenced by sale agreement with vendor of the agricultural land after deduction of applicant’s margin
Total expenditure of the applicant for existing/ proposed credit facilities should not be more than 70% of overall income
Security
Simple/Equitable Mortgage of agriculture land to be purchased out of the loan subject to minimum coverage of 100% of the loan quantum