Loan against Commercial Property
Commercial property is the type of property, which is purposed to generate profit or income, generally it encompasses commercial real estate, hotels, restaurants, medical centres, office building etc.
The loan borrower having possession on commercial property can leverage it to avail decent sum of money that can be used to settle different financial requirements. It can be used to maintain consistency in flow of funds in business operations, channelizing it in the investment of machinery & equipment or repair expenses, renovating the space etc.
Features and Benefits
Get the loan amount on commercial property up to Rs. 10 crores
Rate of Interest
We charge competitive rate of interest on commercial property
Loan to Value
Get the true worth of your property with loan to value upto 40 – 70%
We value your time and process LAP within few days
Eligibility & Documents
LAP is a smart option to resort when in need of huge money and at low rate of interest. Find out here who can apply and other mandatory eligibility criteria that are required.
|Minimum Age||Minimum 25 years (At the time of loan application)Maximum 65 years (At the time of loan maturity)Property owner age to be max 75 years at the time of loan maturity.|
|Who can apply?||Salaried EmployeesSelf-Employed IndividualsProfessionals|
|Income Stability||Salaried Employees: Minimum of 2 yearsSelf-Employed: Minimum 3 years|
Get the elaborated detail of each document you need to submit while applying for loan against commercial property.
|Income Documents||Salary slip for last 3 monthsBank statement or copy of passbook of last 6 monthsLast 2 years Form 16 / ITR||Last 2 yrs complete audited financialsLast 6 months bank statement of all business accountsLast 6 months saving bank statement of Proprietor / Partner / Director|
|Identity proof||Any one of the following: Driving LicenseAadhar CardPassportVoter IDPAN||Any one of the following: Driving LicenseAadhar CardPassportVoter IDPAN|
|Job or Business stability||Should be in service for minimum 2 yearsFull time job employment||SENP/SEP should be in current business/profession for 3 yrs Proof of business registration: GST registrationIncorporation CertificateVAT/CST certificateImporter Exporter Code|
|Residential address proof||Any one of the following: Registered Rent AgreementPassportLatest Utility BillAadhar CardVoter ID card||Any one of the following: Registered Rent AgreementPassportLatest Utility BillAadhar CardVoter ID card|
|Signature Proof||PassportPan CardBank Verification||PassportPan CardBank Verification|
|Property Documents||Complete chain of property documentsSanction MAP||Complete chain of property documentsSanction MAP|
|Other documents||Employment contractAppointment letter if job is less than 1 year oldSchedules of all running loansTwo passport sized photographs signed across||GST ReturnsSchedules of all running loansList of Directors & shareholders (For Company)Copy of degree (For Professional)Two passport sized photographs signed across|