HOUSING LOAN COMMERCIAL LOAN

Initial Details

Employment Type
Turnover
Profit Before Tax
Current Paying EMI (If Any)
Monthly Income
Current Paying EMI (If Any)
Age
Full Name
Phone Number

Offers

Bank Best Rate EMI Max Loan Offered (Lacs)
Bank Best Rate EMI Loan Amount (lacs)
Tiger Nixon System Architect Edinburgh 61

Personal Details

Property Location
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Type of Property
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Property Agreement Value
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Name of Your Organization
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Total Work Experience
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Date of Birth
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Pan Card
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Email Id
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Property Location
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Type of Property
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Property Agreement Value
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Turnover
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Date of Incorporation
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Constitution
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Pan Card
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Email Id
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Complete

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About commercial loan

A commercial mortgage is a mortgage loan secured by commercial property, such as an office building, shopping center, industrial warehouse, or apartment complex. The proceeds from a commercial mortgage are typically used to acquire, refinance, or redevelop commercial property.

Terms of Commercial Loan

Loan Purpose Purchase of resale, ready built and under construction commercial property.
Loan Amount Up to Rs 5 Cr, Loan above Rs.5cr can be provided depending upon individual cases.
Maximum Funding Up to 55% of the market value or 65% of the registered value inclusive of stamp duty & registration charges (whichever is lower).
Eligibility The product is available to:-
  • Salaried Individual(Resident/Non Resident) who have attained the age of 22years at the time of loan application and maximum age should not be above 65 years at the termination of loan or date of retirement (whichever is earlier). Subjected to submission of proof & establishment of satisfactory repayment.
  • • Self Employed Professionals (e.g. doctors, engineers, dentists, architects, chartered accountants, management consultant, company secretary, etc) who have attended the age of 25 years at the time of application and maximum age at the time of termination of loan should not be above 65 years.
  • • Self Employed Non Professionals (Businessmen) who have attended the age of 25 years at the time of application and maximum age at the termination of loan should not be above 65. (Maximum age under the category may be relaxed subject to the availability of proper Business Succession Plan.)
Processing Fee 1.5% – 2.5%
Financial Institutions Non-Banking Finance Companies & Housing Finance Institution

Documents Required For Commercial Loan

Most banks follow the same general rules in terms of document requirement. There may be a few changes in certain cases, in which case, our loan officers will guide you personally to complete the documentation process. Salaried individuals.

1. Form 16 of last 2 years or Income Tax Returns.

2. Salary slips of last 3 months.

3. Last 6 months bank statement reflecting salary credits.

4. ID/ Age Proof - PAN Card/ Passport/ Signature Proof/ Aadhar Card and Residence Proof – Passport/      Utility bills/ Bank Statements.

5. Cheque of Processing Fee.

1. Proof of Business - Shop and Establishment Certificate/ Vat Registration Certificate/ Service Tax      Certificate.

2. Last 3 years IT tax returns with profit and loss account and balance sheet duly audited by CA.

3. Existing Loans’ Sanction letters accompanied with repayment track.

4. Business profile on the letterhead of the company.

5. ID/ Age Proof - PAN Card/ Passport/ Signature Proof/ Aadhar Card and Residence Proof – Passport/      Utility bills/ Bank Statements.

6. Cheque of Processing Fee.

1. Age proof of all the partners in the form of PAN Card, Passport or Aadar Card.

2. PAN Card of the company.

3. Residence proof of all the partners – Utility Bills/ Passport/Bank statement/ Registered rent      agreement.

4. Proof of Business - Shop and Establishment Certificate/Vat Registration Certificate/ Service Tax      Certificate.

5. Latest 3 years Income Tax returns with profit and loss and balance sheet duly audited by CA.

6. Latest 12 months bank statement of the Company and of the Partners’ Savings Bank Account.

7. Existing Loans' Sanction letters accompanied with repayment track.

8. Business profile on the letterhead of the company.

9. ID/ Age Proof - PAN Card/ Passport/ Signature Proof/ Aadhar Card and Residence Proof – Passport/      Utility bills/ Bank Statements.

10. Cheque of Processing Fee.

1. Application form duly filled with photographs of directors.

2. Age Proof of Directors - PAN Card, Aadhar Card, passport.

3. Residence Proof of Directors - Utility Bills/ Passport/Bank statement/ Registered rent agreement.

4. PAN Card of Company.

5. Education Qualification - A professional qualification certificate in case of Doctors/CA/Architects.

6. Proof of Business - Shop and Establishment Certificate/Vat Registration Certificate/ Service Tax      Certificate.

7. MOA, AOA, List Of Directors, Share Holding Pattern of the Company.

8. Last 3 years IT returns with Profit and Loss account and balance sheet duly audited by CA.

9. Latest 12 months bank statement of Company of all current accounts and the same for Director’s      Savings Bank Account.

10. Existing Loans’ sanction letter with repayment track of company and Individual Directors.

11. Business Profile on the Letter Head of the Company.

12. ID/ Age Proof - PAN Card/ Passport/ Signature Proof/ Aadhar Card and Residence Proof –         Passport/ Utility bills/ Bank Statements.

13. Cheque of Processing Fee.

Eligibility Criteria

Documents required for Guarantor:

Your eligibility for LAP is determined by the following factors:-

Income

Age

Qualification

Spouse’s income

No of dependents

Market value of property

Savings History

Assets/Liabilities

Stability and continuity of occupation