#1
12th January 2017, 04:35 PM
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SBI Land Loan
I want to apply for loan in State Bank of India SBI for purchase of loan so can you please provide me the details of loan?
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#2
13th January 2017, 11:14 AM
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Re: SBI Land Loan
State Bank of India SBI provides Land Purchase Scheme to Small & Marginal farmers and landless agricultural labourers for purchase of Land. 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 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 Mortgage of land to be purchased How to 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. How to apply for this loan Contact a Branch nearer to the applicants residence or talk to the marketing officers visiting villages. Customer service: 1800 425 3800 |