Loan for purchase of agri land.

[rajb4u09]

Dear sir,

I would like to know if any Bank or financial istitutions who are providing loans for purchase of agriculture lands. If so please help me regaring the procedures for applying.

Reagrds
Aditya (+918142289898).

 

[salem_bala]

Dear Aditya,

For Agri land no one(as far as I investigated) gives loan, since it is not legally possible for them to take back the land, in case of defaulters. moreover govt and politicians will support farmers only. so it is purely a suicide attempt for load provider. One possible thing for you to buy an agri land is. Go for mortgage loan of your own house, which is of less interest rate(Jewellery loan is even more lesser in interest rate) and buy some virgin land at remote location. One thing to consider is good soil and water availability. Put some dedication on farming and you can repay the mortgage loan within five years.

This is what I did recently..

All the best,
Balashankar.S
09341116220

 

[syed_i40]

Dear Aditya,
please check the union bank website, they say they provide loans for purchase of agriculture land, but when I went to a branch and enquired they said we should visit the branch which is nearest to the piece of land we want to buy. so if u happen to find a union bank branch close to the land u want to purchase, please give it a try and also let us know if this is really possible or not.

Regards
Syed