Personal BankingLoansProperty loanLoan for Purchase of Commercial Property

LOAN FOR PURCHASE OF COMMERCIAL PROPERTY   
 
 
Purpose of the Loan

Purchase of the following types of Commercial Building for Own Use or Let out Purpose:

  • Ready Built Commercial Building
  • Commercial Building Under Construction
  • Reimbursement of Purchase Cost of Commercial Building
 
Target Customers
  • Individuals (Residents and Non Residents)
  • Proprietorship Concern & Partnership Firm
  • Limited liability Partnership Firms
  • Private and public limited companies
  • Trust/Society 
Age
 Minimum
 21 years
Maximum
 65 years
 Amount
Minimum
 Rs. 25.00 lacs
Maximum
 Rs.1500.00 lacs 
Tenure

Maximum period of 144 months(excluding Holiday period)

LTV

Up to 75% of value of Property

Interest rate
EligibilityMinimum Bureau
 Minimum Bureau Score of 730 for applicant.
Features
  • In case of building under construction, maximum holiday of 6 months may be allowed and interest during the period should be serviced by the borrower
  • In case of purchase of ready built building, the age of the building should not be more than 20 years at the time of application
  • In case of purchase of commercial property under construction the date of commencement of construction of such property should not be more than 3 years old
Processing/Upfront fees
 1.00% of the loan amount with a minimum of Rs.10000.00  
 
Documents required

 

Salaried Class

Business Class

Pensioners

KYC Docs (PAN Card and Aadhar Card and Photographs)

KYC Docs (PAN Card and Aadhar Card and Photographs)

KYC Docs (PAN Card and Aadhar Card and Photographs)

ITR for the two years with computation sheet

ITR for the two years with computation sheet

ITR for the two years with computation sheet

Salary Slip/Pension Statements for 3 months deed etc to be taken

Recent financials of the firm

Salary Slip/Pension Statements for 3 months

Account Statement for 6 months

Account Statement for 6 months.

Account Statement for 6 months

Title deeds, Possession Certificate, Location certificate and sketch, encumbrance certificate, Tax Paid Receipts