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Rural & Agri  Long Term Credit  Land Purchase
Link To: Union White Card
Land Purchase
FeaturesForms & DocumentsFAQs
 
LOAN FOR AGRICULTURAL LAND PURCHASE
 
What is the purpose of Loan for Agricultural Land Purchase?
 
Loan for Agricultural Land Purchase is provided:
  • To make small and marginal holdings economically viable.
  • To bring fallow lands and waste lands under cultivation.
  • To step up agricultural production and productivity.
  • To increase the income of share croppers, tenant farmers, small and marginal farmers.
 
Eligibility:-
 
  • Small and Marginal Farmers as defined by NABARD for this purpose Share croppers/Tenant Farmers.
  • The farmer should have adequate surplus income from his production activities on the land being financed and other income to repay the Bank loan with interest.
 
Quantum of loan:-
 
Quantum of loan to be sanctioned depends upon:
  • Area of the land to be purchased.
  • Its value in the market.

(For the purpose of valuation of land, for fixing the quantum of finance, the price indicated by the borrower may be crosschecked with the Registrar/Sub-Registrar of the area).

Quantum of loan will include land purchase cost, development cost and cultivation expenses.

 
Margin:-
 
No margin in case of finance for crop cultivation based on scale of finance.

Up to Rs. 1,00,000/- - Nil

Above Rs.1,00,000/- - 10% to 15%.

 
Rate of Interest And Processing charges:-
 
Please contact the nearest Union Bank branch for details
 
Repayment:-
 
7 to 12 years with a maximum moratorium of 24 months. This relaxation may be applied on merits of each case.
 
Security:-
 
  • Mortgage of purchased land.
  • Hypothecation of crops/assets.
 
OTHER TERMS & CONDITIONS:-
 
  • Purchase of land permitted within the village boundary or in a radius of 3 to 5 kms from the existing land owned by the farmer
  • The purchased land should be used for agricultural purposes/establishing allied activities and the farmers should take up the project implementation without any delay after purchase of land
  • Complete details of the project proposal should be submitted to the branch
  • The land to be purchased should be free from any encumbrances
I Anup Kumar Das, Son of Late Jiban Krishna Das, residing at Vill.- Paschim Nandabhanga, P.O.- Bakhrahat, P.S.- Bishnupur, Dist.- South 24-Parganas, West Bengal
Link To: Union Gold Loan
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