Get Loan Against Commercial Property @9.5% p.a.

Q: Can I get a loan against a property that is mortgaged with another lender?

To get a loan against a property already mortgaged with another lender, you must check the loan terms of the new lender carefully as well as the eligibility criteria.

Q: How is the loan amount determined for a Commercial Property Loan?

The loan amount is typically a percentage of the property's current market value and varies between lenders.

Q: What is the tenure for a Loan Against Commercial Land?

The tenure varies but usually ranges from 3-15 years, depending on the lender and your loan eligibility.

Loan Against Commercial Property: Financing Your Business Needs

If you own commercial real estate, such as an office building or a store, you can utilise it as security to avail of a Loan Against Commercial Property to finance your business needs. The loan allows you to secure funds for various financial needs, be it to expand your business or to fulfil personal financial goals. Read on to learn more about the benefits of a Loan Against Property and why it might be a good choice for you.

EMI Calculator for Loan Against Commercial Property

Loan Amount

51,00,000 25,00,00,000

Interest Rate %

9.5% 15%

Tenure

3 Year 15 Years

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EMI Amount = *

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Interest Rate & Charges for Loan Against Commercial Property

You can apply for a Loan Against Property at an interest rate of 9.5% per annum. For more details on other applicable charges, please see the table below:

Interest Rate	9.5% p.a. onwards
Loan Amount	From ₹51 Lakh to ₹25 Crore
Loan Processing Fees	Up to 2%
Lowest EMI per month	1044* per Lakh for 180 months
Maximum Tenure	3-15 years (12 years for Industrial/Warehouse)
Foreclosure/Prepayment Charges	5% on principle outstanding plus applicable taxes. 5% on principle partly paid amount plus applicable taxes.
Default Charges	24% per annum
Repayment Instrument Dishonour Charges	₹500 per bounce plus applicable taxes
Stamp Duty	At actuals (as per state)
No Other Hidden Charges

Note: Default Charges: Penalty will be charged for non payment of EMI amount and for non-compliance of material terms and conditions, as more particularly specified at Default Charges.

Types of Commercial Properties in India

Before you apply for a Loan Against Property, it is essential to recognise the distinct types of commercial properties and their defining characteristics. Here's a brief overview:

Office Spaces: Ideal for businesses and professional services.
Retail Outlets: It is suitable for shops and showrooms.
Warehouses and Industrial Units: Useful for manufacturing and storage purposes.
Hotels and Hospitality: Relevant for the hospitality industry.

Each property type offers distinct advantages and considerations when seeking a loan against them.

Required Eligibility Criteria for Loan Against Commercial Property

Securing a Loan Against Commercial Property requires meeting certain eligibility criteria, including:

Property Documents

Age

Experience/Vintage

Citizenship

Property Documents: The applicant must be the legal owner of the commercial property to keep it as a security.
Age: At the time of the loan application, the applicant must be between the ages of 18 and 60.
Experience/Vintage: An individual must have at least three years of work experience and six months of stable employment in their current job. For businesses, the stability/vintage must be five years in the same business.
Citizenship: The Individual must hold Indian citizenship.

Required Documents for Loan Against Commercial Property

You will be required to provide a set of essential documents with your loan application, including:

Property Documents
Income Documents

KYC Documents
Bank Statements

Property Documents: Proof of property ownership like title deeds, property tax receipts, and building plan approvals.
Income Documents: Salary slips, income tax returns, and other documents demonstrating your financial stability.
KYC Documents: PAN Card/Aadhaar Card/Driving Licence/Voter ID/Passport.
Bank Statements: Statements from your bank accounts show your financial transactions and history.

Benefits of Loan Against Commercial Property

Attractive Interest Rates
Higher Loan Amounts

Flexible Repayment Tenure

Attractive Interest Rates: You can avail of a Loan Against Property at attractive interest rates, starting from as low as 9.5% p.a.
Higher Loan Amounts: You can secure substantial loan amounts based on your property's value.
Flexible Repayment Tenure: Enjoy a flexible repayment tenure of up to 15 years, making it easier to manage your finances.