Cent Agri Land/ Estate Purchase Scheme

Purpose

* To provide loan to purchase, develop and cultivate agricultural as well as fallow and waste land.

Eligibility

* Small and marginal farmers, share croppers / tenant farmers and Entrepreneurs with agricultural background.

Nature of facility

* Term Loan.

Quantum of Loan

* Purchase of Land : Maximum of Rs10.00 lakhs.
*Estate Purchase     : Maximum Rs. 200.00 lakh

Margin

* Purchase of  land: 20% .
*Estate Purchase :50%

Security

* Primary :
- Charge on land purchased out of bank finance.
- Hypothecation of crops raised on the land/estate
* Collateral :
-No collateral uptoRs.2.00 Lakh
- Charge on other land presently owned/ Resi Property in case of Estate purchase,  if any. ( value of Security should not less than 200% of loan

Interest Rate

UptoRs3,00,000/-
Above Rs3.00 lakh to Rs10.00 lakh
Above 10.00 lakh to 100.00 lak

MCLR + 1.35%
MCLR + 2.50%
MCLR +3.00

Processing Charges

* UptoRs 3 Lakh/- : Nil .
* Above Rs 3 Lakh/-: 50% of 1.25% (i.e. 0.625%)

Repayment

* Within 7 to 10 years 
* Estate Purchase 7 to 9 year