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.