Union Bank of India- Product

Search

Home You are here : path  Products path Personal path Land Purchase

image    LAND PURCHASE

Features

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 click here to know our latest rate of interest
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

Forms & Documents

FAQs


union

union

  • Rewarded

    Rewarded

    Earn reward points on transactions made at POS and e-commerce outlets

  • Book your locker

    Book your locker

    Deposit lockers are available to keep your valuables in a stringent and safe environment

  • Financial Advice?

    Financial Advice?

    Connect to our financial advisors to seek assistance and meet set financial goals.

  • ATM & Branch Network

    ATM & Branch Network

    Find UBi Branches and ATMs in proximity to your location.