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SBI Land Purchase Loan | Land Purchase Loan | SBI Land Purchase Scheme | SBI Loan | Bankwala | LPS |
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SBI Land Purchase Loan (LPS) Now take loan from SBI to buy agricultural land.
In the current time, the growing trend towards organic farming has attracted many young people to do farming. Many youths are leaving their decent jobs and turning to agriculture. These youth are also earning good profits from new experiments in farming. But many youngsters are unable to go towards this due to their own land. SBI Land Purchase Loan (LPS) is for such youth. Landless, small and marginal farmers land through this scheme
What is landi purchase in ski?
What is SBI Land Purchase Scheme (LPS) or Land Purchase Loan?
Under SBI Land Purchase Scheme (LPS), small and marginal farmers can take loans to buy land. Along with this, such cultivators can also buy land under SBI's LPS Scheme, which do not already have arable land for farming. The special feature of SBI Land Purchase Scheme (LPS) is that up to 85% of the total cost of the loan can be taken. For this, customers of other banks along with current customers of SBI are eligible. The customer should have a good record for this loan. This loan has to be repaid within 7-10
years.
Who can apply?
Eligibility for SBI Land Purchase Scheme (LPS)?
Such farmers can apply under SBI Land Purchase Scheme (LPS),
1- Those who have less than 5 acres of undisturbed land.
2- Those having less than 2.5 acres of irrigated land.
3- Ace Mazdoor-farmers who do not have any land at all.
4- Applicants must have a record of at least two years of re-payment.
5- The applicant should not have loan from SBI or any other bank.
6- Customers of other banks, who have a good record, can take loans under this scheme.
According to the SBI Land Purchase Scheme of SBI, such small-marginal farmers can apply for less than 5 acres of uncultivated land or less than 2.5 acres of irrigated land. So he can take loan from SBI under this scheme. Apart from this, farmers who do not have land can also take loans under SBI Land Purchase Scheme (LPS). There is one more condition in this and that is that the person applying to take advantage of this scheme should have a repair record of at least two years.