Commercial Purchase Loan Overview

Commercial Purchase Loans to purchase/ construction of commercial property in approved areas. This includes loans for office space, shops.

Commercial Purchase - Eligibility

For salaried employees/ self-employed professionals/ non-professionals: Age of the customer should not be more than 50 years at the time of applying for loan.

For partnership firms/ corporate bodies: The entity has to be in existence for at least 3 years prior to the date of application.

Eligibility Calculator

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Loan EMI Calculator

Loan Amount is 30000
No. of Month is 30
Rate of Interest `{`ROI`}` is 10
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Commercial Purchase Loan Documents

We have compiled below a list of documents that you will require to complete your application:

Salaried

Identity Proof
  • PAN Card (mandatory) and any one of the below documents
  • Voter Card
  • Aadhar Card
  • Valid Passport
  • Driving License
  • Photo Identity card issued by Govt. body
Address Proof  – Any one of the below documents:
  • Any one of the below documents:
  • Voter Card
  • Aadhar Card
  • Valid Passport
  • Latest Utility bill
  • Rent agreement on stamp Paper
  • Bank Statements reflecting address of borrowers of any commercial nationalized bank
  • Life Insurance Policy
  • Residence address Certificate /letter by employer on company letterhead
  • Municipal or property tax receipt
  • Post office saving bank account statement
Proof of Income – (All the documents given below):
  • Last 2 months salary slip
  • Last 6 months bank statement of salaried account
  • Latest Form 16 / ITR
Other Documents
  • Documents related to running loans along with 6 months repayment bank statements
Property Documents
  • Copy of complete chain documents of the property (as applicable)
  • Copy of Agreement to Sell (if executed)
  • Copy of the Allotment Letter / Buyer Agreement(if applicable)
  • Copy of Receipt/(s) of payment/(s) made to the developer (if applicable)

Self Employed

Identity Proof
  • PAN Card (mandatory) and any one of the below documents
  • Voter Card
  • Aadhar Card
  • Valid Passport
  • Driving License
  • Photo Identity card issued by Govt. body
Address Proof  – Any one of the below documents:
  • Any one of the below documents:
  • Voter Card
  • Aadhar Card
  • Valid Passport
  • Latest Utility bill
  • Rent agreement on stamp Paper
  • Bank Statements reflecting address of borrowers of any commercial nationalized bank
  • Life Insurance Policy
  • Residence address Certificate /letter by employer on company letterhead
  • Municipal or property tax receipt
  • Post office saving bank account statement
Address Proof for Business Entities – Any one of the below documents:
  • Shops & Establishment Certificate
  • Trade License Certificate
  • SSI Registration Certificate
  • PAN Card/Sales Tax/ VAT Registration Certificate
  • Partnership Deed (for firms) / Memorandum of Association (MOA) for companies
  • Export-Import Code Certificate/Factory Registration Certificate
  • Professional qualification Certificate and Degree Certificate for Professionals
  • SEBI Registration Certificate
    Registration No issued by ROC
Proof of Income – (All the documents given below):
  • Income Tax Returns along with computation for last 2 financials years
  • Balance Sheet and Profit & Loss account along with all annexures (duly CA certified and audited if applicable)
  • Last six months current account statement of the business entity and saving account statement of individual
Other Documents – All the documents given below:
  • Documents related to running loans along with 6 months repayment bank statements
  • Latest List of share holding pattern (duly CA/CS certified)
  • MOA (for private Limited companies)
  • Partnership deed (for partnership firms)
Property Documents
  • Copy of complete chain documents of the property (as applicable)
  • Copy of Agreement to Sell (if executed)
  • Copy of the Allotment Letter / Buyer Agreement(if applicable)
  • Copy of Receipt/(s) of payment/(s) made to the developer (if applicable)

Frequently Ask Questions

Minimum contribution required from a customer will be 30% of the total cost of the property (inclusive of stamp duty and registration charges in case of purchase of property). *Terms and Conditions apply

Maximum Loan amount would be 70% of the purchase price of property or loan eligibility whichever is lower. Loan eligibility shall be determined by income, age, qualification and occupation etc. Income of borrower(s)/ co-borrower(s) may be clubbed together for calculation of loan eligibility.

Yes, a co-applicant can be added in order to get a better credit score and avail of a larger loan amount. It also help you to increase the loan amount you are eligible for. The income of the co-applicant also features in your valuation and helps in increasing your chances of getting a personal loan.

Disbursement will be made after the property has been technically appraised and all legal documentation has been completed.

For purchase of house/ flat from an individual on resale, the loan amount will be paid in lump-sum to the seller at the time of transfer after confirming that the customer has paid his own contribution.

For commercial property under construction, the loan amount will be disbursed in stages based on the progress of construction.

A customer has to invest his proportionate share of the cost, prior to disbursement of loan. The loan can be disbursed either in lump sum or installments according to the requirement of the development authority/ society/ private builder.

Loan repayment is in Equated Monthly Installments (EMI) comprising of principal and interest through Post Dated Cheques/ Electronic Clearance System.

Apply for Commercial Purchase Loan

You can apply for a Commercial Purchase Loan online, All you need to do is provide your details below application form.