Wondering will bank give loan for buying agricultural land? There is a false belief among most of the people that banks won't lend money on agricultural land. Let me break the ice and share some positive news with you. In India, there are multiple banks that have developed schemes to assist farmers in obtaining loans for their agricultural property. Read this answer to get more details.
Scheme for Purchase of Agriculture Land
Agri Land Purchase Loan -This loan is provided by Union Bank of India to give small and marginal farmers, such as sharecroppers and tenant cultivators, term loans. This is because they can buy agricultural property, produce waste and fallow land, and improve and cultivate it. You can get complete details of the
UBI agriculture loan here.
Cent Agri Land Purchase Scheme -It is offered by the Central Bank of India to give loans for the acquisition, development, and cultivation of agricultural property. Get
Centri Agri loan processing charges and interest ratedetails here.
Bank of Baroda Agriculture Loan -This grants eligible farmers term financing for the development, and cultivation of agricultural, waste, and fallow land. It aids marginal and small farmers in purchasing additional land.
Banks in India do offer loans for the purchase of agricultural land, however, there are certain requirements. It is essential that prospective borrowers go through the criteria of their lender in detail. I hope now you have an idea of the bank loan for buying agricultural land.
Find the perfect home loan via NoBroker. Read more -What documents are required to buy agricultural land in Karnataka?
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Will Bank Give Loan for Buying Agricultural Land?
Aaloka
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1 Year
2023-11-10T20:02:45+00:00 2023-11-10T20:02:46+00:00Comment
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