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  #2  
21st August 2012, 09:50 PM
Super Moderator
 
Join Date: May 2012
Re: Indian Bank Loan for Land Purchase

To be eligible for Indian bank land loan the Minimum entry age is 18 years and maximum exit age is 60 years.

The land loan amount which can be taken is 30 times of Gross Monthly Income.

The cap on Plot Loan per borrower has been fixed as under:

For purchase of property in Urban area : Rs. 200.00 lakhs
For purchase of property in Metro : Rs. 300.00 lakhs.
For purchase of property in Rural area : Rs. 50.00 lakhs
For purchase of property in Semi-urban area : Rs. 100.00 lakhs
  #3  
27th November 2015, 05:12 PM
Unregistered
Guest
 
Re: Indian Bank Loan for Land Purchase

Hii sir, I wanted to know about the Indian bank Loan for Land Purchase please give me the details of its interest rates and other important information’s ?
  #4  
27th November 2015, 05:13 PM
Super Moderator
 
Join Date: Aug 2012
Re: Indian Bank Loan for Land Purchase

As you asking for the Indian Bank of India loans for the land purchase the details are as follow :

Eligibility criteria :

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.

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
repay the loan

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.


For applying :

You may Contact a Branch nearer to your residence or you may talk to the marketing officers visiting villages.


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