Financing growth & transforming rural India.
Bank of Baroda, for rural India, with rural India.
Scheme for Purchase of Agriculture Land
Fees & Charges
Most Important Terms & Conditions (MITC)
Scheme for Purchase of Agriculture Land : Benefits
- 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
Scheme for Purchase of Agriculture Land : Features
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.
Scheme for Purchase of Agriculture Land : Eligibility Criteria
- Small and Marginal farmers
- Share croppers/Tenant farmers
- Women having ownership rights of land. Priority is given to distress, widows, SHG members etc
Scheme for Purchase of Agriculture Land : Document Required
- KYC Documents (AADHAR, Voter ID, PAN Card, Driving License etc.)
- Passport Size photo
- Quotation/Invoice (if available)
- Land Records
- IT Returns (if available)
- Complete project report
Scheme for Purchase of Agriculture Land : Fees & Charges
- Aggregate Agriculture exposure of Rs. 3.00 Lakhs- Nil
- Above Rs 3 Lakhs - 1 % of the limit sanctioned with a maximum of Rs 100 lacs.
- Agriculture exposure upto Rs. 3.00 Lakhs- Nil
- Above Rs 3 lakhs to Rs 10 Lakhs - Rs 250
- Above Rs 10 Lakhs to Rs 1 Crore - Rs 1000
- Above Rs 1 Crore - Rs 5000
Scheme for Purchase of Agriculture Land : Most Important Terms & Conditions (MITC)
|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||