An Estate Purchase Loan is a type of loan provided by Union Bank of India to help you purchase estates growing traditional plantation crops viz. coffee, tea, rubber, cardamom, cashew, pepper, coconut and other perennial orchard crops.

The amount of the loan is subject to the creditworthiness of the borrower, as determined by the bank.

The following documents are required for availing the Estate Purchase Loan:

• Copies of Land Records regarding land owned and to be purchased, duly certified by the concerned Revenue Authorities.
• Documents of title and other relevant documents to establish the right over the presently held landed property as well as land to be purchased are to be produced.
• Copy of sale agreement if entered into or offer letter by the vendor.
• Crop history of the estate to be purchased as well as existing estates.
• Valuation report of the estate to be purchased from panel value and Non-Encumbrance Certificate legal opinion from panel advocate.

Yes, you can prepay the Estate Purchase Loan without any penalty. However, the bank may charge a nominal fee for prepayment, which would be specified in the loan agreement.

Once all the necessary documents are submitted and verified, the loan is typically disbursed by way of Demand Draft directly to the vendor after collecting the margin money or after ascertaining the advance paid with documentary proof.

The interest rate charged on the Estate Purchase Loan varies depending on the loan amount, tenure, and the creditworthiness of the borrower. Please contact the bank for the latest interest rates.

Yes, there is a processing fee for the Estate Purchase Loan, which is usually a percentage of the loan amount. The fee would be specified in the loan agreement.