Bank of Baroda, for rural India, with rural India.

Scheme for Purchase of Agriculture Land

Providing term finance to eligible farmers for purchase, development and cultivation of agricultural as well as fallow and Waste Lands.
Quantum of loan will depend on the area of the land to be purchased and its valuation and also development cost
Helps Small and Marginal farmers for buying more land

Enables financial assistance to share croppers/tenant farmers for purchase of land towards income enhancement.

To finance the farmers to purchase, develop and cultivate agricultural and fallow/waste land.
To finance purchase of land to enable the farmers to diversify into other allied activities.

Small and Marginal farmers
Share croppers/Tenant farmers
Women having ownership rights of land. Priority is given to distress, widows, SHG members etc

Processing charges:

Inspection Charges:

Quantum of Loan

Depends on area of the land to be purchased, its valuation and cost of development

Type of Facility

Term Loan

Margin

No margin is stipulated for loans up to Rs. 50000/ -. For loans of higher amount, a minimum of 10% margin is required

Repayment Period

Loan may be repaid in a period ranging from 7 to 12 years in half yearly / yearly installments, including a maximum moratorium period of 24 months.

Security

The land purchased out of bank loan and mortgaged in favor of bank will form security for the loan from borrowers

Rate of Interest

Limit upto Rs.3 Lakhs
Other than Crop Loan	One year MCLR+ SP
Limit above Rs.3 Lakhs and less than Rs.25 Lakhs	One year MCLR+ SP+1.25%
Limit Rs.25 Lakhs and above
3 years & above and upto 5	One year MCLR+ SP+2.10%
Above 5 years and upto 7 years	One year MCLR+ SP+2.15%