Multiple banks. Different interest rates. Call it a "conflict of interest".
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    Loan for Land Purchase

    We found 32 Loan for Land Purchase

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    10.99% - 15.99% Fixed
    1% to 2.5%
    30L Max
    1-5 Years
    Response Time Within 30 minutes
    Rs.1000 Amazon voucher free Ad
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    Customer Reviews
    10.99% - 14.49% Fixed
    0
    30L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1000 Amazon voucher free Ad
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    Perks
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    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    12% - 18% Fixed
    Up to 1.5% One time fee
    15L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1000 Amazon voucher free Ad INSTANT DECISION
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    Customer Reviews
    11.99% - 19.50% Fixed
    0 One time fee
    20L Max
    1-6 Years
    Response Time Within 30 minutes
    Rs.1000 Amazon voucher free Paperless approval option available
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    13.99% - 16.99% Fixed
    1% - 2% One time fee
    20L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1000 Amazon voucher free Paperless Approval Option Available
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    11.59% - 18.49% Fixed
    2.25% (min. ₹1149) One time fee
    20L Max
    1-5 Years
    Response Time Within 30 minutes
    Rs.1000 Amazon voucher free Paperless approval option available
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    10.85% - 11.85% Floating
    0.5% One time fee
    50 K - 10 L
    1-5 Years
    Response Time Within 30 minutes
    Guarantor Required Paperless approval option available
    What you'll love
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    Perks
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    Fees & Charges
    Good to Know
    Eligibility Criteria
    10.99% - 19.8% Fixed
    Up to 2.5% One time fee
    25L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1000 Amazon voucher free Paperless approval option available
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    11.99% - 19% Fixed
    Up to ₹3000 One time fee
    25L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1000 Amazon voucher free Paperless approval option available
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    17.25% - 37% Fixed
    1.5% to 6.0% One time fee
    15L Max
    1-4 Years
    Response Time Within 30 minutes
    Rs.1000 Amazon voucher free Paperless approval option available
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    11.49% - 20.15% Fixed
    Up to 2%
    15L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1000 Amazon voucher free
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    11.5% - 13.25% Fixed
    0 One time fee
    30L Max
    1-5 Years
    Response Time Within 30 minutes
    Rs.1000 Amazon voucher free
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria

    Loan for Land Purchase is Rated as "Great!" by 73830 Users

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    Personal Loan BYTES FROM OUR KITCHEN

    How to get Loan for Land Purchase

    Land is by far the best investment a person can make, as the price of the land just keeps increasing over the years. Every person wishes to have a land that he can call his own and most often the only reason why a person is not able to buy a property is due to the lack of finance. But the problem of finance is now being addressed and banks are offering loans to purchase land.

    Features and Benefits of Loan for Land Purchase

    The following are the features of loan for land purchase:

    • You can purchase a piece of land for residential purpose.
    • The loan to value for a loan for land purchase is lower when compared to home loan.
    • Tenure is lower when compared to home loan.
    • Bank has the right to recall the loan or increase the rate of interest if the construction does not start within the stipulated period.
    • Prepayment of the loan will attract a charge.
    • More due-diligence is required while buying a property.
    • Floating as well as fixed rate of interest options are available.
    • Borrowers can avail tax exemption after the construction has been completed.

    Eligibility to avail Loan for Land Purchase

    • Repayment capacity of the borrower is considered.
    • Monthly income.
    • Savings history.
    • Number of dependents in the family.
    • Spouse's income, etc.

    Loan for Land Purchase Documents required

    The borrower has to present the following document while applying for a loan to purchase land:

    • Copies of allotment letter
    • Approved drawings of proposed purchase
    • Agreement of sale
    • Sale deed from architect
    • Engineer for the property to be purchased
    • Title deeds
    • If it is a resale case, then previous claim of property documents must be submitted.

    If the property is converted, you have to submit the conversion and development charges payment receipt.

    Key points to remember regarding the loan for land purchase:

    • Residential and commercial conversion can be funded. Agricultural land in green or orange belt can’t be funded.
    • The plot must be independent or in a gated community.
    • The geographic location of the property matters to the lenders. So check with the lender before you apply for the loan.
    • The loan to value ratio lower.
    • The loan tenure is restricted to 15 – 20 years.
    • The rate of interest might be slightly higher when compared to home loan.
    • While taking the loan make sure that there is no condition to start the house construction within a certain period.
    • The property bought with the loan for land purchase is for investment and not with the intention to sell.
    • This is a riskier investment as it may attract a lot of litigation at the end of the day.
    • The land can be however mortgaged in the later stage to meet your financial requirement.

    Loan for Land Purchase offered in India

    Following are the banks that offer loan to purchase land in India:

    HDFC Bank Offer Land Purchase Loan

    Features
    • The loan is offered to purchase a plot through direct allotment, purchase of a resale property and to transfer your outstanding loan availed from other bank.
    • Interest rate offered are attractive.
    • Repayment option can be customised to suit your needs.
    • Legal and technical counselling is provided.
    Types of plot loans
    • Adjustable rate loan
    • TruFixed Plus Loan 2 year fixed rate variant
    • TruFixed Plus home loan 3 year fixed rate variant
    Eligibility Individuals and joint owners can apply.
    Maximum Loan amount
    Loan amount Funding
    Up to Rs.20 lakh 90% of the cost of the property
    Rs.20.01 lakh – Rs.75 lakh 80% of the cost of the property
    Above Rs.75 lakh 75% of the cost of the property
    Loan Tenure Maximum period of 15 years.
    Interest Rate
    • Adjustable rate loan
    Women 9.55% to 10.05%

    RPLR Minus Spread- 16.30% - (6.75 to 6.25%)

    others 9.60% to 10.10%

    RPLR Minus Spread- 16.30% - (6.70 to 6.20%)

    • TruFixed Plus Loan 2 year fixed rate variant


    Women 9.55% to 10.05%

    RPLR Minus Spread- 16.30% - (6.75 to 6.25%)

    others 9.60% to 10.10%

    RPLR Minus Spread- 16.30% - (6.70 to 6.20%)

    • TruFixed Plus home loan 3 year fixed rate variant
    Women 9.75 to 10.25%

    RPLR Minus Spread- 16.30% - (6.55 to 6.05%)

    others 9.80% to 10.30%

    RPLR Minus Spread- 16.30% - (6.50 to 6.00%)

    Axis Bank Offer Land Purchase Loan

    Features
    • Attractive and flexible interest rates are offered.
    • Balance transfer facility is available.
    • No prepayment charges are imposed.
    • Longer tenure are offered so you have to pay lower EMI each month.
    Eligibility
    • Salaried individuals
    • Professionals
    • Self-employed individuals
    Loan amount The loan amount depends on the repayment capacity of the borrower and the tenure that he chooses.
    Loan Tenure The bank decides the tenure for the loan.
    Interest Rate The base rate is 9.50% the additional rate will be charged based on the eligibility criteria and the loan amount that the borrower has taken.

    ICICI Bank Offer Land Purchase Loan

    Features
    • Residential property can be purchased for self-construction in the future.
    • The property construction has to be completed in 2 years after availing the loan.
    • The plot must be in the municipality limits.
    Eligibility Approach the bank to know if you are eligible for the loan.
    Loan amount The loan amount depends on your repayment capacity and the collateral offered.
    Loan Tenure The Bank decides the tenure of the loan.
    Interest Rate Approach the bank to know the interest rate they are offering for the plot loan.

    DHFL Offer Land Purchase Loan

    Features
    • If you take a loan for a longer term, your EMI will reduce.
    • Salaried non-professionals with loan requirement ranging from Rs.5,000 to Rs.20,000 will be charged a 1.5% processing fee.
    • The loan can be repaid through EMIs through ECS or post-dated cheques.
    • Principal amount and interest rate payment attracts tax benefits.
    • Co-applicant can enhance the loan amount requirement.
    • Documentation is easy and hassle free.
    Eligibility The plot loan is determined on the following criteria:

    • Repayment capacity
    • Age of the borrower
    • Educational qualification of the borrower
    • Stability of income
    • Number of dependents
    • Co-applicants income
    • Assets and the saving habit of the borrower
    Loan amount Based on the requirement and the collateral offered and the repayment capacity of the borrower.
    Loan Tenure Loan is offered for 1 – 20 years.
    Interest Rate Interest is based on the retail prime lending rate that fluctuates based on money market conditions.

    State Bank of India (SBI) Offer Loan for Land Purchase

    Features Land purchase loan is offered to farmers to purchase land and who wish to consolidate their land holding and develop waste land.
    Eligibility
    • Small and marginal farmers who own less than 5 acres of unirrigated or 2.5 acres irrigated land.
    • The borrower must have a record of repayment of loan for at least 2 years.
    Loan amount Loan amount is based on the cost of the land, provision for irrigation and development facility, purchase of farm equipment and registration and stamp duty charges.

    Up to 85% of the cost of the land subject to a maximum of Rs.5 lakh security is offered.

    Loan Tenure Maximum 9 – 10 years.

    Gestation period is 1 year for developed land and 2 years for the land that has to be developed.

    Interest Rate Approach the bank to know the interest rate they are offering for the land purchase loan.
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  • Loan for Land Purchase Reviews

    • ICICI Bank Personal Loan
      "Average "
      0.5 3.0/5 "Satisfactory"
      Due to lacking of documents only especially when it comes to address proof, I have not taken the personal loan with the ICICI bank and the rate of 12%. I would like to say that the customer service needs to improve with the ICICI bank and the response too.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 24, 2017
    • ICICI Bank Personal Loan
      "Good in Response"
      0.5 5.0/5 "Blown Away!"
      The interest rate is too high for the personal loan with ICICI bank,which is of 16.5% so I just cancelled my loan application. But from the bank I received very good response for the loan application. I do have multiple account with ICICI bank. All their service are good.
      Was this review helpful? 0
      , meerut
      Reviewed on May 24, 2017
    • Bank Bazaar Customer Support
      "Wonderful "
      0.5 5.0/5 "Blown Away!"
      Bankbazaar.com is an excellent one because they have contacted me in couple of times, also I am using it from the last two to three months of time. I would like to say that the response is good one with the Bankbazaar.com and am happy with them.
      Was this review helpful? 0
      , satara
      Reviewed on May 24, 2017
    • Bank Bazaar Customer Support
      "Financial Advisor"
      0.5 5.0/5 "Blown Away!"
      My experience with Bank Bazaar is good, The website is good to check the interest rates of ICICI, Axis and other banks and its convenient to choose the best bank in the market. I got instant response from Bank Bazaar website once I have posted the request for personal loan.
      Was this review helpful? 0
      , chennai
      Reviewed on May 24, 2017
    • ICICI Bank Personal Loan
      "Need to improve"
      0.5 2.0/5 "Expected more"
      ICICI bank have not reverted to me till now and the rate of interest was around 14.5% and the customer service was not good like I have went there thrice to their place for submitting the documents. I would like to suggest that ICICI bank need to be more transparent with the customers.
      Was this review helpful? 0
      , satara
      Reviewed on May 24, 2017
    • ICICI Bank Personal Loan
      "Hassle free process"
      0.5 5.0/5 "Blown Away!"
      ICICI Interest rate is competitive as per the market, but first time when I applied for the personal loan through online channel it was rejected, again I went to bank personally and I took the personal loan with nominal interest rate, I am fine with that.
      Was this review helpful? 0
      , chennai
      Reviewed on May 24, 2017
    • Bank Bazaar Customer Support
      "Good"
      0.5 3.0/5 "Satisfactory"
      Bankbazaar.com is also good and they have approached me and they have helped in a good way. I have used it for the first time. Website of the Bankbazaar.com is easy to access and the response is an immediate one with them.
      Was this review helpful? 0
      , pune
      Reviewed on May 24, 2017
    • HDFC Bank Personal Loan
      "Satisfied"
      0.5 4.0/5 "Great!"
      I got the personal loan with the HDFC bank for the interest rate as 12.9% and the customer service was pretty good,. Within a week of time, the loan amount got disbursed to my account and the response was very good. Processing charges and the insurance charges were around 7000 Rupees, which should be optional.
      Was this review helpful? 0
      , pune
      Reviewed on May 24, 2017
    • Bank Bazaar Customer Support
      "Better service with bankbazaar"
      0.5 5.0/5 "Blown Away!"
      I have made a web search for the personal loan , then I have found bankbazaar.com, There web portal is easy to use and customer friendly. The customer support with bankbazaar is really helpful and supportive. This is my first product getting through bankbazaar.com.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 24, 2017
    • Standard Chartered Bank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      My personal loan application went smooth with the standard charted bank. The documentation process also went smooth. They just took around 2 to 3 days to disburse my personal loan. The rate of interest is nominal with them. Overall the service is better with Standard Charted Bank.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 24, 2017
    • Bank Bazaar Customer Support
      "Informative web portal"
      0.5 5.0/5 "Blown Away!"
      I got an excellent service from bankbazaar. They provided a lot of information about the loan. It was easy to select the bank for the loan as they are providing the bank details. Since they are providing the information in detail, it is very easy to go with the bank.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 24, 2017
    • ICICI Bank Personal Loan
      "Good bank"
      0.5 4.0/5 "Great!"
      ICICI bank closed my personal loan application due to constrains with eligibility criteria. When I submitted the application they were so active and very responsive towards my application. There was no issues with ICICI bank.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 24, 2017
    • Bank Bazaar Customer Support
      "Helpful"
      0.5 4.0/5 "Great!"
      Bankbazaar.com have helped me and the website is good and the response is fast too. I came to know about Bankbazaar.com through some professional knowledge and they have contacted me within three to four months of time from the time of my inquiry.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on May 24, 2017
    • Oriental Bank of Commerce Personal Loan
      "Satisfied"
      0.5 4.0/5 "Great!"
      I have not taken the personal loan with the Oriental bank of commerce because I have postponed the plan to some extent. Rate of interest was around 10% for the personal loan and the customer service was good one and they were polite too.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on May 24, 2017
    • Bank Bazaar Customer Support
      "Good services"
      0.5 4.0/5 "Great!"
      The experience at Bankbazaar has been good in the services and they responded well to me and on time. The calls continued till the end of the process checking my loan application has been on track. The website is designed well and very informative.
      Was this review helpful? 0
      , mumbai
      Reviewed on May 24, 2017
    • Fullerton Personal Loan
      "High ROI & charges"
      0.5 3.5/5 "Pretty good"
      Since I was not in town I could not submit the documents for the personal loan at Fullerton. More over the rate of interest was extremely high and so was the processing charges. I got a rate of 19%. The services and response was on time to check on my requirement.
      Was this review helpful? 0
      , mumbai
      Reviewed on May 24, 2017
    • Bank Bazaar Customer Support
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      The overall experience was good at Bankbazaar as the process was on time and the services was fast. I received a follow up call as well which was helpful. The website is good and it is easy to access and also informative with the details of various banks
      Was this review helpful? 0
      , panchkula
      Reviewed on May 24, 2017
    • IndusInd Bank Personal Loan
      "Disappointed with the service"
      0.5 1.0/5 "Really Bad"
      I have not received good response from Indusind bank for my personal loan application. Actually they informed me that since Iam salaried person loan cannot be sanctioned to me if Iam salaried then only it can be done it seems I have opted for 4 laks loan,
      Was this review helpful? 0
      , panchkula
      Reviewed on May 24, 2017
    • ICICI Bank Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I had taken the personal loan from ICICI bank. The interest rate is around 16.75% which is little higher than the other banks. But I got very good response from the bank, the entire process went good without any hassles.
      Was this review helpful? 0
      , indore
      Reviewed on May 24, 2017
    • Bank Bazaar Customer Support
      "Good in Customer service"
      0.5 4.0/5 "Great!"
      Customer service is good with bankbazaar. I received regular updates and proper service on my application. Website was quite easy and it is accessible. I did not find any challenges with bankbazaar while processing my loan request with them.
      Was this review helpful? 0
      , gurgaon
      Reviewed on May 24, 2017
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