Purpose
Loan to for purchase and development of agricultural land by small farmers.
Eligibility
Persons (Residents only) with agricultural background / those who are having a flair for farming related activities and having sufficient repaying capacity
Loan Amount
Maximum loan amount for purchase under the scheme will be 75 % of the value of land as estimated by the Bank. Credit facilities for development of land, irrigation facilities and for cultivation of crops will also be available. A farmer will be required to contribute minimum 15 percent of total cost as margin from his own resources towards development loans.
Security
Land to be purchased with Bank finance will have to be mortgaged as security.
Rates & Interest
Please refer rates & charges page
Repayment
Repayment of loan will be quarterly/ half yearly / yearly installments depending on the harvest of the crops or the liquidity created by the agriculture activity undertaken over a period of 7years. Adequate gestation period will be allowed for loan taken for development of land.