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I want to buy an agricultural land in a village in Andhra Pradesh. I donot have so much money to buy the 5 acres of land. I only have money to buy 2 acres and wanted to get bank loan to purchase the other 3 acres. I work as a software engineer and I can repay the loan in 2-3 years. Please let me know how I can get the loan and which banks offer such kind of loans. Also let me know the average/approx interest rates on such kind of loans(the 5 acres is purely agricultural land, my father cultivates it).

My father and I enquired some banks and they said they won't offer agricultural loan beyond 5 lakhs.
asked in Loans by (130 points)

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1 Answer

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Agricultural land can only be purchased by farmer. If you're a software engineer, you're not eligible for that.
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answered by (48.8k points)

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