Non Housing Loans
Loans for commercial properties
Brief Terms & Conditions at a glance
Purpose of Loan
For construction/purchase of commercial properties
Who is eligible
All individuals who are salaried/professionals/businessmen/self-employed/NRI/Pensioners who have adequate repayment capacity
Quantum of loan
70% of the project cost subject to repayment capacity and sufficient net take home.
In the case of construction, land cost should not exceed 15% of the project cost.
Up to 10 years.
Interest rate applicable
Floating rate of interest applicable as given below:
In the case of purchase of house/flat, on the date of registration, and in the case of construction/repairs/renovation/up-gradation/extension,
Property mortgaged to be insured compulsorily.
Security for the loan
Equitable mortgage of thecommercial property being financed.
Depends up on case to case basis.
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.