Non Housing Loans

209-Loans for commercial properties

Loans for commercial properties



Brief Terms & Conditions at a glance

1.

Purpose of Loan

For construction/purchase of commercial properties

2

Who is eligible

All individuals who are salaried/professionals/businessmen/self-employed/NRI/Pensioners who have adequate repayment capacity

3

Quantum of loan

70% of the project cost subject to repayment capacity and sufficient net take home.

4

Other conditions

In the case of construction, land cost should not exceed 15% of the project cost.

4

Repayment period

Up to 10 years. 

5

Interest rate applicable

Floating rate of interest applicable as given below:
13.00% to 13.50%

6

Disbursement

In the case of purchase of house/flat, on the date of registration, and in the case of construction/repairs/renovation/up-gradation/extension, 
as per the progress of work. 

7

Property insurance

Property mortgaged to be insured compulsorily.

8

Security for the loan

Equitable mortgage of thecommercial property being financed.

9

Collateral security

Depends up on case to case basis.

10

Stamp duty

As laid down in The State Stamp Act of the respective state government.

Note: For details regarding Processing charges, other charges and other Compliances, please contact your nearest branch.



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