• Mortgage loan on agricultural loan

Hello Krishna,

I have two agricultural lands ( 36 decimal and 25 decimal ) in East Medinipure district that I would like to mortgage for loan .
Possible to get loan ?
What would be the amount ?
How much time it takes to process the loan?

Regards
Arun
Asked 6 years ago in Property Law
Religion: Hindu

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17 Answers

1.  Bank provides Loan against Agricultural land upto 70% of the rateable value of the land.

2.  IF the land documents are in proper order, THEN the bank grants loan in about 15 odd days.

Hemant Agarwal
Advocate, Mumbai
5612 Answers
25 Consultations

You can avail agricultural loan 

 

2) following documents are required 

 

  • ID proof-Voter ID, Photo ration card. Aadhar etc
  • Residence proof-Ration card
  • Land ownership proof-records of rights, revenue receipt etc
  • Kisan Credit Card-This is a card issued to all farmers including small and marginal farmers, tenant farmer, share croppers and oral lessees

3) As per RBI directive, crop loans till an amount of Rs. 1 lakh require no security. Loans over Rs. 1 lakh may require security as per the lending banks terms and conditions

Ajay Sethi
Advocate, Mumbai
99775 Answers
8145 Consultations

Replied to your query 

Ajay Sethi
Advocate, Mumbai
99775 Answers
8145 Consultations

Visit your nearest branch and get an agriculture loan

Loan Against Agricultural Land is specially designed for people who cultivate crops like farmers, planters, or Horticulturists. It cannot be availed by a businessman or a professional

Most banks offer loans based on the size of the land pledged. They usually mention the minimum acres of land a farmer should have to apply for a loan.

Mohammed Mujeeb
Advocate, Hyderabad
19325 Answers
32 Consultations

See the loan is possible, same is as per the agriculture land value and circle rate if you are mortgaging same or scheme you opt. 

Processing time depends upon bank to bank it can take 2 weeks. 

Shubham Jhajharia
Advocate, Ahmedabad
25513 Answers
179 Consultations

No bar in mortgaging agriculture land but on default by you, bank had no authority to proceed against land, hence bank may not give loan. Is this land using for agriculture purpose only or not  

Yogendra Singh Rajawat
Advocate, Jaipur
23079 Answers
31 Consultations

You can get loan against agricultural land 

 

2) the amount of loan you are eligible bank would inform you 

 

3) it should not take more than a month to process your loan application 

Ajay Sethi
Advocate, Mumbai
99775 Answers
8145 Consultations

1.  Bank provides Loan against Agricultural land upto 70% of the rateable value of the land.

2.  IF the land documents are in proper order, THEN the bank grants loan in about 15 odd days.

Hemant Agarwal
Advocate, Mumbai
5612 Answers
25 Consultations

Hi,

You are suggested to contact the bank officials of loan department who will after assessment if value of land, may approve the loan and you may get the loan accordingly. 

Ganesh Singh
Advocate, New Delhi
7169 Answers
16 Consultations

1) You can contact district cooperative bank. They provide the loans against agricultural lands which crops you're going to grow in your field.

Ganesh Kadam
Advocate, Pune
13008 Answers
267 Consultations

Dear client 

It is possible to get the mortgage loan if your CIBIL RECORD is clear. 

The loan amount will depend on the value of land in that area it can be between 60 to 80% of the land value depends on the bank policy. 

Only bank can tell The time for sanction of loan.

Mohit Kapoor
Advocate, Rohtak
10686 Answers
7 Consultations

Yes the CIBIL score is important for every loan. 

Mohit Kapoor
Advocate, Rohtak
10686 Answers
7 Consultations

For every loan Cibil should be clear .

Yogendra Singh Rajawat
Advocate, Jaipur
23079 Answers
31 Consultations

Giving loan is the discretion of bank or financial institution and if the title of the property is clear the creditor at tits discretion can decided whether provide you with financial assistance or not. There is no statutory  force behind this.

2. Many banks or financial institutions on equitable mortgage or making mortgage deed in respect of your security in the form of your immovable assets can give you loan.

3. SO you will have to approach the bank or financial institutions than us to get a fancier for your need.

Devajyoti Barman
Advocate, Kolkata
23653 Answers
537 Consultations

As agricultural land is exempted from attachment it is difficult to get loan from the same.  Banks are reluctant to do so. 

Prashant Nayak
Advocate, Mumbai
34514 Answers
249 Consultations

A agricultural land is pledged as a collateral. The borrower should have clear titles to the land to be eligible to apply for a Loan Against Agricultural Land.

 

 

Ajay Sethi
Advocate, Mumbai
99775 Answers
8145 Consultations

For your requirement of loan you may have ti approach any bank or financial institution who will guide you with necessary formalities accordingly.

T Kalaiselvan
Advocate, Vellore
89977 Answers
2492 Consultations

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