Get Commercial Purchase Loan
Achieving your goals requires dedication and hard work but it begins with the right environment. With a workplace tailored for your profession, you can take your professional dreams to the next level. If you are a Doctor, Lawyer, Chartered Accountant or a Self Employed Businessman, HDFC's Commercial Property Loans will help you own the workplace of your choice so that you can take a step closer to your business goals.
Document Required
Loans for the purchase of a new or existing clinic or office
Loans for the extension, improvement or construction of an office or clinic
Loans for transferring your outstanding loan availed from another Bank / Financial Institution
Expert legal and technical counselling to help you make the right property buying decision
Attractive interest rate
Easy and hassle free documentation
Simple repayments through monthly instalments
Integrated branch network for availing and servicing the loan anywhere in India
Financial instruments such as loans has made our lives so much easier in the last decade. A loan makes it possible for us to achieve our dreams, be it purchasing your dream car or a house. Banks have launched new loan schemes over the years to suit the financial needs of its customers and one such loan is loan for commercial shop purchases. This loan offers finances to an individual who wants to purchase a commercial property to set up their shop or business. Read on to know more about Loan for commercial shop purchases in India.
Difference between loans for residential property purchase and commercial shop purchase
There are quite a lot of differences between loans for residential property purchase and loans for commercial property purchase in India. Listed below are the major differences between the two.
LTV ratio- LTV ratio or loan-to-value ratio describes the ratio of the loan to the value of the property purchased. While for residential properties, the LTV ratio is around 75-85%, for commercial properties, the ratio is much lesser at 55%.
Rate of interest- The rate of interest is higher for commercial property loans when compared to residential property loans.
Loan tenure- The maximum loan tenure for commercial properties is usually restricted to 10 years while the loan tenure offered for residential properties can go up to 25-30 years.
Processing fee- The processing fee charged for commercial property loans is much higher when compared to the processing fee for residential property loans. The usual processing fee for residential property loans is capped at Rs.10,000 while the standard processing fee for commercial loans is 1% of the loan amount.
Resident Type: Resident Indian
Minimum Age: 18 years
Maximum Age: 70 years
Loan Tenure: up to 30 years
Loan Amount: Click Here
*List of papers/ documents applicable to all applicants
Employer Identity Card
Loan Application: Completed loan application form duly filled in affixed with 3 Passport size photographs
Proof of Identity (Any one): PAN/ Passport/ Driver’s License/ Voter ID card
Proof of Residence/ Address (Any one): Recent copy of Telephone Bill/ Electricity Bill/Water Bill/ Piped Gas Bill or copy of Passport/ Driving License/ Aadhar Card
Permission for construction (where applicable)
Registered Agreement for Sale (only for Maharashtra)/Allotment Letter/Stamped Agreement for Sale
Occupancy Certificate (in case of ready to move property)
Share Certificate (only for Maharashtra), Maintenance Bill, Electricity Bill, Property Tax Receipt
Approved Plan copy (Xerox Blueprint) & Registered Development Agreement of the builder, Conveyance Deed (For New Property)
Payment Receipts or bank A/C statement showing all the payments made to Builder/Seller
Last 6 months Bank Account Statements for all Bank Accounts held by the applicant/s
If any previous loan from other Banks/Lenders, then Loan A/C statement for last 1 year
*Income Proof for Salaried Applicant/ Co-applicant/ Guarantor
Salary Slip or Salary Certificate of last 3 months
Copy of Form 16 for last 2 years or copy of IT Returns for last 2 financial years, acknowledged by IT Dept.
Business address proof
IT returns for last 3 years
Balance Sheet & Profit & Loss A/c for last 3 years
Business License Details(or equivalent)
TDS Certificate (Form 16A, if applicable)
Certificate of qualification (for C.A./ Doctor and other professionals)
Avail commercial purpose loan up to Rs.10 crore with interest rates starting at 6.90% p.a. with additional benefits such as extended loan terms and flexible repayment options. Simple documentation, quick processing, and excellent customer service with a response time of 30 – 45 minutes makes BankBazaar a go-to place for all your housing loan needs.
Bank Name
SBI Home Loan
Interest Rate
8.05% - 11.85% p.a.(Floating Rate)
Processing Fee
0.35% onwards (min. Rs.2,000; max. Rs.10,000)(Processing Fee)
Loan Amount/Tenure
Loan Amount At the discretion of the bank 1-30 Years Tenure Range
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Bank Name
HDFC Home Loans
Interest Rate
8.10%* onwards (Floating Rate)
Processing Fee
0.5% or Rs.3,000 whichever is higher (Processing Fee)
Loan Amount/Tenure
Contact the bank for detailsLoan Amount1-30 YearsTenure Range
Enquire
Bank Name
Union Bank Home LoaN
Interest Rate
7.90% p.a. onwards (Floating Rate)
Processing Fee
0.50% or Rs. 15,000 Maximum(Processing Fee)
Loan Amount/Tenure
Rs. 25L MinLoan Amount1-30 YearsTenure Range
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Bank Name
PNB Housing Home Loan
Interest Rate
7.50% p.a. onwards (Floating Rate)
Processing Fee
Up to 0.5% of the loan amount (min 10,000 in both cases, excluding taxes)(Processing Fee)
Loan Amount/Tenure
Rs. Up to 90% of the cost of the propertyLoan Amount1-30 YearsTenure Range
Enquire
Bank Name
LIC HFL Home Loan
Interest Rate
6.90% p.a. onwards (Floating Rate)
Processing Fee
Up to Rs.1 Cr - 0.25% of Loan Amount, subject to maximum Rs.10,000/- (Plus GST), Above Rs.1 Cr and up to Rs.5 Crs - 0.25% of Loan Amount, subject to maximum Rs.25,000/- (Plus GST)(Processing Fee)
Loan Amount/Tenure
Rs. 30L -Rs 5Crs Loan Amount 5-30 Years Tenure Range
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Bank Name
Axis Bank Home Loan
Interest Rate
6.90% p.a. onwards(Fixed /Floating Rates)
Processing Fee
0.50% (min. Rs. 10,000)(Processing Fee)
Loan Amount/Tenure
Rs. 5L - Rs. 10 Crs Loan Amount 1-30 Years Tenure Range
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Why You Choose Us?
Banking Experience
Experience in leading Banks such as HSBC, Kotak Mahindra Bank, ICICI Bank, L&T Hosing Finance, Aditya Birla, Indusind Bank
Broader Association
Associated with Leading PSU, Private, MNC Banks and NBFCs.
Past Projects
Oberoi Splendor, Imperial Height, Windsor Lokhandwala, Address Ghatkopar, Hiranandani, Raheja Classic, Oberoi Spring, Palm Beach Wadhwa, Nri Seawood, Emerald Bay, Kalptaru, Rna Elegant
Banking Experience In Leading Banks
