Multiple banks. Different interest rates. Call it a "conflict of interest".
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    We found 31 Loan for Land Purchase

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    11.49% - 15.99% Fixed
    0.5%
    30L Max
    1-5 Years
    Response Time Within 30 minutes
    Rs.1,000 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.1,000 Amazon voucher free Ad
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    Fees & Charges
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    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.1,000 Amazon voucher free 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.1,000 Amazon voucher free Paperless approval option available
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    Customer Reviews
    13.99% - 16.99% Fixed
    1% - 2% One time fee
    20L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free Paperless Approval Option Available
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    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    11.00% - 17.99% Fixed
    2.25% (min. ₹1149) One time fee
    20L Max
    1-5 Years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free Paperless approval option available
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    Perks
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    Fees & Charges
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    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
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    Eligibility Criteria
    10.99% - 19.8% Fixed
    Up to 2.5% One time fee
    25L Max
    1-5 years
    Response Time Within 30 minutes
    Paperless approval option available
    What you'll love
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    Perks
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    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.1,000 Amazon voucher free Paperless approval option available
    What you'll love
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    Perks
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    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
    Paperless approval option available
    What you'll love
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    Perks
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    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.1,000 Amazon voucher free
    What you'll love
    Documents
    Perks
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    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.1,000 Amazon voucher free
    What you'll love
    Documents
    Perks
    Fees & Charges
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    Loan for Land Purchase is Rated as "Great!" by 76083 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

    • HDFC Bank Personal Loan
      "Personal Loan balance transfer "
      0.5 0.5/5 "Unacceptable"
      Very worst service I ever seen even in national bank other government office, personal advice don't apply any type of loan even for closure they make you to run around them, it almost more than a month I am running around back to get my DD even customer care not responding well the greviance is worst not replying to ur mail
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 27, 2017
    • HDFC Bank Personal Loan
      "Interest rate should be flexible "
      0.5 3.0/5 "Satisfactory"
      I got best offer from HDFC according to my company policy, they gave me good interest rate on personal loan. But without informing they have taken processing fee and insurance amount from the disbursement, they should give clear picture about the charges.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 27, 2017
    • Bank Bazaar Customer Support
      "Good financial website"
      0.5 4.0/5 "Great!"
      Bank Bazaar is good when I uploaded the loan request, I received the response immediately from them. Bank Bazaar has good loan segregation process, I could check and take the best product in the market. The website is easy to use, but I would like to suggest Bank Bazaar should enable the one time registration option, when I am filling my information it should capture it next time when I am checking for some other products again it should not ask the details.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 27, 2017
    • Kotak Personal Loan
      "Communication part should be improved"
      0.5 2.0/5 "Expected more"
      I am ready to avail Kotak Mahindra personal loan, but they rejected my loan application without initmation, Infact I didn't receive any call or any message from them and no one came to collect the documents. I would like to suggest them to improve their communication part, also they need to be more transparent in their process.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 27, 2017
    • Bank Bazaar Customer Support
      "Really good"
      0.5 4.5/5 "Excellent!"
      The bank bazaar gives a prompt response and the regular follow to their customers. I really appreciate the bank bazaar effort which was given to the customer in terms the service, follow up in any case. The customer service and the response is really good with bank bazaar. The bank bazaar web site is easy to use and user friendly.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 26, 2017
    • Bank Bazaar Customer Support
      "Very Good Service"
      0.5 5.0/5 "Blown Away!"
      Bank Bazaar is an excellent service provider, I am getting good and satisfactory service. Whenever I took any financial products through Bank Bazaar. I am happy about that, I came to know Bank Bazaar through a google search. I had been using it for three years and it is really good.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 25, 2017
    • Bank Bazaar Customer Support
      "Great Experience while applying for a Loan"
      0.5 5.0/5 "Blown Away!"
      I would like to tell the Bank Bazaar team that I had a great experience while applying for a loan. I never did this before and when I applied through your site you made it so easy. The way it is presented is really good. people will like it when filling up loan form if it looks so picturistic.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 25, 2017
    • Bank Bazaar Customer Support
      "Customer support"
      0.5 5.0/5 "Blown Away!"
      Very good customer support service that I received from your side, thanks for your valuable support. keep it up. The customer services are good and very much satisfactory at Bankbazaar. I was contacted instantly and the process is smooth, thanks.
      Was this review helpful? 0
      , pune
      Reviewed on Jun 25, 2017
    • Bank Bazaar Customer Support
      "Good response "
      0.5 4.0/5 "Great!"
      Very easily any one can login using this application, every steps can be followed easily, there is no confusion over all its good. Before using this app people have to struggle to take loan not only loan other there daily needs, now it's very easy and it is good to share.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 25, 2017
    • Bank Bazaar Customer Support
      "Excellent "
      0.5 5.0/5 "Blown Away!"
      Bankbazaar.com is really a good one , the response provided by them is the best, also I used to get the calls from them on an immediate basis with them till now. Online portal of the Bankbazaar.com is easy to access, I would certainly recommend this site to all.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 24, 2017
    • HDB Financial Services Personal Loan
      "Wonderful "
      0.5 5.0/5 "Blown Away!"
      I did not take the personal loan with the HDB financial services because I have not submitted the documents with them till now because of some other reasons. Customer service and the response were good one with them and there are no suggestion to them as well.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 24, 2017
    • Bank Bazaar Customer Support
      "Satisfied with the services"
      0.5 4.0/5 "Great!"
      The services from Bankbazaar has been nice and overall experience is good. It was very convenient to get connected with the banks through this portal. I only had to submit my details and place the request. I started to receive calls and I got the loan without a delay.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 24, 2017
    • ICICI Bank Personal Loan
      "High on ROI & good services"
      0.5 3.0/5 "Satisfactory"
      The service provided was really good by ICICI Bank and the process was on time. I received the personal loan within five days. The bank was high on the rate of interest, it was around 14%. The processing charges were also high. The documents were collected on time as it was promised as well.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 24, 2017
    • Bank Bazaar Customer Support
      "Personal loan "
      0.5 5.0/5 "Blown Away!"
      It's very fast to get the information and calculated the your monthly EMI and processing is also very fast to get the loan confirm just upload your documents and get approval on the spot. It's nice and hassle free to get for your query and even to get the services by bankbazar. Comparison. Thank you very much bankbazar
      Was this review helpful? 0
      , new delhi
      Reviewed on Jun 24, 2017
    • ICICI Bank Personal Loan
      "Average"
      0.5 3.0/5 "Satisfactory"
      ICICI Bank contacted me for the personal loan and since I could not provide any documentation from my end at that moment, I cancelled my application. The interest rate and processing charges is normal. The overall experience is good and smooth.
      Was this review helpful? 0
      , jagdalpur
      Reviewed on Jun 24, 2017
    • Bank Bazaar Customer Support
      "Excellent "
      0.5 5.0/5 "Blown Away!"
      I would like to say the communication part is the best and it is really working in a perfect way, also the timely update is really good one with the Bankbazaar.com. Co-ordination is prefect and the customer service of bankbazaar really works in a good way.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 24, 2017
    • IndusInd Bank Personal Loan
      "Good"
      0.5 3.0/5 "Satisfactory"
      I have not got the call from the Indusind bank after the first call like I would like to say there were no continuous follow ups. I have seen the interest rate was around 13% to 14% as approximately and the bank is also good one. I would like to suggest that they need to make the follow up with the customer which is on an immediate basis.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 24, 2017
    • Bajaj Finserv Personal Loan
      "Services are good & high on charges"
      0.5 5.0/5 "Blown Away!"
      I am an existing customer of Bajaj Finserv and they have given me a personal loan. The customer services are good. They collected my papers on time and the process was also smooth. The interest rate and processing charges was high when compared with other banks.
      Was this review helpful? 0
      , rajahmundry
      Reviewed on Jun 24, 2017
    • Bank Bazaar Customer Support
      "Very good services"
      0.5 5.0/5 "Blown Away!"
      The services provided by Bankbazaar has been good and the overall experience is nice. I received a proper response and it was a timely process.There were a lot of follow up calls and the website has a number options to choose the right bank. Satisfactory overall.
      Was this review helpful? 0
      , rajahmundry
      Reviewed on Jun 24, 2017
    • ICICI Bank Personal Loan
      "Not Satisfied with the services"
      0.5 3.0/5 "Satisfactory"
      ICICI Bank contacted me for the personal loan, and I gave them a time frame and asked them to call back because I was out of town. But I received no calls. It has not been a satisfactory experience. The rate of interest and processing charges is normal.
      Was this review helpful? 0
      , rajahmundry
      Reviewed on Jun 24, 2017
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