How to get loan on agricultural land?

How to take loan on agricultural land: Eligibility Criteria

• Farmers, dairy owners, horticulturalists, and orchard owners are eligible to get loan on agricultural development.
• The minimum eligibility criteria for agricultural loan is 18 years. However, bank lenders prefer ages between 24 to 65 years.
• You can't secure  an agricultural loan without a co-applicant incase there are two landowners.
• The borrower must clear titles to the land to secure Agricultural loans.
• The borrower should have 2 years of residence stability.
• Loans are based on the size of the land. Therefore before securing an agricultural loan you must mention the size of the land.

• Filled up application form
• ID proof such as PAN card, Aadhar card, Voter card.
• Proof of address 
• Land documents which include registration document, utility bills, tax receipt.
• No due certificate
• Land sale agreement copy
• Last six months of bank statement ( if applicable)
• Passport size photo of the land owner

How to get loan on agricultural land?

1. You need to go to the bank and take all the documents I have mentioned above.
2. Ask the bank manager for the application form
3. Fill the application form and submit the documents.
4. The bank will run a background check before lending the loan. 
5. After the verification you can obtain an agricultural loan.

How much loan can I get on agricultural land?

• Minimum Interest Rate- 10.50% p.a.
• Maximum Interest rate- 13.70% p.a.
• Mean Interest Rate- 11.55% p.a.

• Minimum interest rate - BBR+0.50%
• Average interest - BBR+0.50%.

• Minimum- BBR+0.50%
• Maximum-BBR+0.75%
• Average-BBR+0.63%

• Minimum- BBR+1.0%
• Maximum-BBR+1.25%
• Average-BBR+1.3%