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Commercial Property Purchase Loan

With a low interest rate & flexible tenure we ensure better deal for your commercial property purchase loan right here
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Commercial Property Purchase Loan Apply Online
Bank Name Interest Rate Range (%) Processing Fee (%) Maximum Loan (Lacs) Maximum Tenure (Month)
Axis Bank Ltd.
7.50% - 8.50%
1 %
1500
180
Bank of India
8.35%-9.35%
1%
2500
120
Canara Bank
11.70% - 12.00%
1 %
1000
120
Bank Name Min Interest Rate
Axis Bank Ltd.

7.50% - 8.50%

Bank of India

8.35%-9.35%

Canara Bank

11.70% - 12.00%

₹ 10L
₹ 50L
₹ 1C
₹ 1.5C
₹ 2C
₹ 2.5C
₹ 3C
%
1%
5%
10%
15%
20%
25%
30%
1
10
20
30
40
50

Loan EMI

Total Interest

Total Payment

Eligibility Criteria

What you mean by Commercial property purchase loan Eligibility Criteria?

If you are planning to purchase commercial property, then you can avail maximum 70% of purchase value as a loan amount at attractive interest rates with other exclusive benefits. For applying commercial property purchase loan you will be required to match few eligibility criteria.

Commercial property purchase loan Eligibility Criteria

Usually, Commercial property purchase loan Eligibility Criteria depends on various factors like age of applicant, monthly salary or business income of co-applicant & residency..etc.

  • • Age Limit of Individuals – 22 to 65 years of age
  • • Good financial statement
  • • 700 above Credit score
  • • Nationality - Resident of Indian

Note: - You can avail 70% - 90% of commercial property value as a loan amount.

What are the factors generally affecting Commercial property purchase loan Eligibility Criteria?

There are Top factors that generally affects Commercial property purchase loan Eligibility Criteria as given below: -

Credit Score below 650: - Usually, applicant with below 650 credit score unable to any loan because credit score plays a critical role in evaluating your loan proposals, therefore try to maintain good credit records to avoid such rejection.

Collateral/Assets: - As you know in 80% of loan types, lenders want to know whether you own any collateral or not, if not then it can become negative & lower your eligibility.

What are the ways to increase Commercial property purchase loan eligibility?

To increase Commercial property purchase loan eligibility, you need to consider points as given below, this will aid you in increasing your eligibility level.

Clear banking statement: - At your loan document verification banking statement looked forward to know your past banking details like crediting & debiting & other history. Hence, always investigate your banking very closely & keep a clear banking statement.

Open account with preferred lender: - Generally, some banks give extra benefits & feature on loan, who are account holders of that specific bank, therefore once you fix your preferred lender from where to apply loan then open account & maintain a good track record, it will build trust & also help you to increase eligibility.

Documents Required

  • Individual
  • Prop Firm
  • Partnership Firm-LLP
  • PVT. LTD.
Frequently Asked Questions

Who can be eligible to avail a Commercial Property Purchase Loan?

  • Individuals  

Salaried Individuals: Any person who is in permanent service in any administration undertaking or any presumed private area organization in India. We likewise offer loans to salaried Non-Resident Indians (NRIs) working with rumored organizations in select nations.  

Professionals: Professionals, for example, allopathic doctors, architects, chartered accountants, cost bookkeepers, rehearsing organization secretary, the executive'

Can I make part pre-installment?

You can make part pre-installments of a base measure of Rs 50,000 following a half year from the date of first payment of the credit. This installment can be made just a single time in a monetary year subject to a limit of 25% of the equilibrium remarkable against your credit sum at the hour of solicitation.  

All part prepayments made a year preceding the abandonment of the advance will be charged at the relevant dispossession rate at the hour of abandonment. 

I don't have recorded financials yet I do have the repayment limit, will I get a credit?

We have different alternatives accessible under which we can offer you credits for example pay based and proxy pay based credits. We have the comprehension of your business and can decide your advance qualification likewise.  

How much money would i be able to profit against the property estimation?

You can acquire up to 70 % of the market worth of your property subject to your pay eligibility. 

For how long a period would i be able to get loan?

We allow business property credits from least 3 years to most extreme 15 yrs. The expression for the advance will be confined to the retirement age or 60 yrs at advance development for salaried clients and 65 years for independently employed clients.  

What is the present rate of interest?

The rate of interest differs relying on your credit sum, property type, pay and so forth and this will be imparted to you by our salesmen.  

Do I have the choice of pre-paying the whole credit sum?

Indeed. One can pre-pay the advance whenever following a half year from the date of conclusive dispensing of the advance. Dispossession charges will be required as material.  

What will be the foreclosure charges?

Foreclosure charges will be 5% + administration charge on the extraordinary advance sum at the hour of abandonment if the credit is shut inside a year from the date of first dispensing. Dispossession charge will be 3% + administration charge if advance is shut between 12 two years from the date of first payment. The dispossession charge will be 2% + administration charge if credit shut following two years from the date of first payment.  

Do I need a co-candidate/applicant?

Indeed. All the co-proprietors of your property should join as co-candidates. For a sole land owner or candidate, one grown-up part in the family should join as a co-candidate. If there should arise an occurrence of organization firm or an organization, accomplices and advertiser chiefs individually should be co-candidates. 

How do I repay the loan?

You can pay either by route for Electronic Clearing System (ECS) or via Post dated checks (PDCs). 

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