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Salient Features
Objectives for Commercial loan
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Salient Features of Commercial Property Loans
- CPL for you if
- Purchase of resale, ready built and under construction commercial property.
- You can opt for a loan against fully constructed houses as well as residential and commercial properties.
- It is noteworthy the property is not necessary to be a constructional structure.
- Your property can be your land also.
- A flat, row house, bungalow from private developers in approved projects.
- Properties from Development Authorities such as DDA, MHADA etc.
- Our key points
- Attractive interest rates that make your Loan affordable and easier on your pocket.
- Customised repayment options to suit your needs.
- No hidden charges.
- Expert legal and technical counselling to help you make the right decision.
- Integrated branch network for availing and servicing the loan anywhere in India.
Loan for Commercial Property Purchase objective is to facilitate the purchase of readily built/ re-sold building units for commercial purpose.
- 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 by Bank
Up to 55% of the market value or 65% of the registered value inclusive of stamp duty & registration charges (whichever is lower).
Who can Avail Commercial Property Loan?
- Salaried Individual who have attained the age of 22 years 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).
- Salaried Employees
- Duly filled Application Form with Photograph.
- Residence Proof (Passport, Driving License, Telephone Bill, Ration Card, Election Card, Any other Certificate from Statutory Authority).
- Age Proof (PAN Card, Passport, Any other Certificate from Statutory Authority).
- Latest Salary-slips for 3 months.
- Last 6 months Bank Statements(salary account).
- Form 16 for last 2 years.
- Photocopy of Title Documents of the Property, Approved Plan.
- Self Employed/Professionals
- Duly filled Application Form with Photograph.
- Residence Proof (Passport, Driving License, Telephone Bill, Ration Card, Election Card, Any other Certificate from Statutory Authority).
- Age Proof (PAN Card, Passport, Any other Certificate from Statutory Authority.
- Certificate & Proof of business existence along with Business Profile.
- Latest 6 months Bank Statement.
- Last 3 years Income Tax returns (self and business) with Profit & Loss Account & Balance Sheets duly certified/audited by a Chartered Accountant.
- Last 12 months Bank Account Statements (self & business).
- Photocopy of Title Documents of the Property, Approved Plan.
- Who can avail a Commercial Property Loan?
Salaried Individuals: Any individual who is in permanent service in any government undertaking or any reputed private sector company in India. We also offer loans to salaried Non Resident Indians (NRIs) working with reputed companies in select countries.
Professionals: Professionals i.e. allopathic doctors, architects, chartered accountants, cost accountants, practicing company secretary, management consultants and lawyers.
Self Employed: Individuals like traders, distributors, manufacturers, service providers etc.
Non-Individual Entities: Proprietorship Firms, Partnership Firms, Private Limited Companies, Public Limited Companies. - How much finance can I avail against the property value?
You can borrow up to 70 % of the market value of your property subject to your income eligibility. - I do not have documented financials but I do have the repayment capacity, will I get loan?
Various options are available under which we can offer you loans i.e. income based and surrogate income based loans. We undersand your business and can determine your loan eligibility accordingly. - For how long a period can I get loan? We grant commercial property loans from minimum 3 years to maximum 15 yrs. The tenure for the loan will be restricted to the retirement age or 60 yrs at loan maturity for salaried customers and 65 years for self employed customers.
- What is the applicable rate of interest? The rate of interest varies depending upon your loan amount, property type, income etc and this will be communicated to you by our sales representatives.
- Do I have the option of pre-paying the entire loan amount? Yes. One can pre-pay the loan at any time after 6 months from the date of final disbursement of the loan. Foreclosure charges will be levied as applicable.
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*The calculated EMI is based on your total eligible loan amount.
*The eligibility amount is in Lacs.
What People Say
Thanks you team. I know it must be hard sometimes, pushing paper and crunching numbers every day, but we think your hard work made a difference to our lives, and as far as we're concerned, that's worth writing about.
Asset Financial has been a great help in guiding us through each step of the refinance of our home loan and acquisition of our investment loan. They have gone out of their way to answer any questions we have had, and has supported us to feel comfortable and confident in the purchase of our first investment property”.
The personal service from your corporate finance adviser was highly appreciated. We were particularly impressed by commitment, professionalism and we would not hesitate in recommending Asset Financial to others.
We have not only obtained a loan that meets our financial needs, more importantly, we have made a friend. We have already referred people to Asset Financial, and will continue to do so. If we had a need for another loan, we would not hesitate to contact Asset team again.
Asset team were very helpful explaining the loan process and prompt with returning all calls. In addition they were always available even after business hours.