Andhra Bank
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Toll Free Number: 1800 425 1515

Call 040-23122297 for Internet & Mobile Banking/ATM -24x7 Helpdesk or mail to us on adchelpdesk@andhrabank.co.in

Anytimers
 
AB Finance for Purchase of Land for Agricultural Purpose (Land Purchase Scheme)
  Objectives
  • To make the small and marginal holdings economically viable.
  • To bring fallow lands and waste lands under cultivation
  • To step up agricultural production and productivity 
  • To finance the share croppers/tenant farmers to purchase land to enable them to increase their income
 Purpose

  • To provide term loan to small/marginal farmers including share croppers/tenant cultivators to purchase agricultural land as well as fallow land and wasteland & to develop and cultivate it with a view to increase production/productivity.
  • To diversify the present activities and to take up allied activities under agriculture.
 Eligibility
Small and marginal farmers,share croppers /tenant farmers i.e., those who owned maximum of 5 acres of non irrigated land or 2.5 acres of irrigated land including the land to be purchased.
  Quantum of finance

Maximum of Rs. 10.00 lac

  Margin

20% of the project cost

  Repayment

The loan is repayable in 7-15 years in half yearly/yearly installments including a maximum moratorium of 2 years.

  Security
  • Mortgage of land to be purchased along with the lands presently owned by the borrower ,if any.
  • Loans above Rs.50,000/-, suitable co-obligation/third party guarantee is to be obtained
  Documents to be produced by the applicant
  • Copies of land records regarding land owned and to be purchased & certified by the concerned revenue authorities.
  • No due certificate from Co-operative Credit society/Commodity Boards/Financial Institutions. 
  • Documents of title and other relevant documents to establish the right over presently held landed property as well as lands to be purchased.
  • Copy of sale agreement if entered into or offer letter by the vendor. 

 Rate of Interest :

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