Loan for Commercial Property Purchase
Overview
We have developed the product Loan for Commercial Property Purchase with an objective of facilitating the purchase of readily built/ re-sold building units for commercial purpose.
Features
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
Salaried Individual
- 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
- 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
- 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.)
*Subjected to repayment capacity of the individual as assessed by IDBI Bank Ltd.
Documentation
The Following documents are required along with The Application Form to process your Loan Application.
Application form with photograph
Identity and Residence Proof
Latest Salary-slip for last 3 months
Form 16/ITR
Last 6 months bank statement
Processing fee cheque
Note: The documents mentioned above are indicative in nature. IDBI Bank may ask for additional document if required during the processing of your loan application.
Security
Primary: First Charge on the mortgaged property by way of equitable mortgage against which IDBI Bank has advanced the loan.
Collateral: Liquid Collaterals as required by The Bank selectively in the form of Pledge/Hypothecation and Assignment depending upon individual cases.
Other Charges
How To Apply
Get a Commercial Property Purchase in 3 easy steps.
01. Get In Touch
Call on our Phone Banking numbers Toll Free -
1800-209-4324
1800-22-1070 (24x7 service)
03. Receive a Call Back
Our representative will contact you at the earliest.