Hello, I want to know the details of the SBI Land loan as I want to apply for the loan. Will you please provide me?

Hello, here I am providing you the details of the SBI Land loan as under:

Purpose:
To assist Small & Marginal farmers and landless agricultural labourers for purchase of Land, who are our existing borrowers to consolidate land holdings & development of Wasteland & fallow lands.

Who are eligible?
Small & Marginal Farmers owning less than 5 acres of un-irrigated / 2.5 acres of irrigated land in their own names, landless agricultural labourers.
The borrowers should have a record of prompt repayment of the loan for at least two years.
Good borrowers of other Banks are also eligible provided they liquidate their Outstanding to other banks.

Loan amount:
On the basis of:
Cost of land
Provision of irrigation facilities & land development (shall not exceed 50% of the cost of the land).
Purchase of farm equipments.
Registration charges & stamp duty.
Loan amount will be 85 % of the cost of the land, as assessed by the bank, subject to the maximum of Rs 5 lakhs Security

How to repay the loan
Max. 9-10 years beginning after the expiry of gestation period, with half-yearly installments. Gestation period will be maximum of 1 year for the developed land and 2 years for the land to be developed.

Updated on 12 Jan 2016
SBI Land Loan Details
Interest Rate (Floating) For women - 9.50%
For General Customers - 9.55%
Processing Fees Zero Processing Fees