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Commercial Property Purchase Loan


What you mean by Commercial property loan Eligibility Criteria?

If you are planning to purchase commercial property, then you can avail maximum 70% of purchase value as a loan amount at attractive interest rates with other exclusive benefits. For applying commercial property purchase loan you will be required to match few eligibility criteria.

Commercial property loan Eligibility Criteria

Usually, Commercial property loan Eligibility Criteria depends on various factors like age of applicant, monthly salary or business income of co-applicant & residency..etc.

  • • Age Limit of Individuals – 22 to 65 years of age
  • • Good financial statement
  • • 700 above Credit score
  • • Nationality - Resident of Indian

Note: - You can avail 70% - 90% of commercial property value as a loan amount.

What are the factors generally affecting Commercial property loan Eligibility Criteria?

There are Top factors that generally affects Commercial property loan Eligibility Criteria as given below: -

Credit Score below 650: - Usually, applicant with below 650 credit score unable to any loan because credit score plays a critical role in evaluating your loan proposals, therefore try to maintain good credit records to avoid such rejection.

Collateral/Assets: - As you know in 80% of loan types, lenders want to know whether you own any collateral or not, if not then it can become negative & lower your eligibility.

What are the ways to increase Commercial property loan eligibility?

To increase Commercial property loan eligibility, you need to consider points as given below, this will aid you in increasing your eligibility level.

Clear banking statement: - At your loan document verification banking statement looked forward to know your past banking details like crediting & debiting & other history. Hence, always investigate your banking very closely & keep a clear banking statement.

Open account with preferred lender: - Generally, some banks give extra benefits & feature on loan, who are account holders of that specific bank, therefore once you fix your preferred lender from where to apply loan then open account & maintain a good track record, it will build trust & also help you to increase eligibility.

Documents Required
  1. AADHAR CARD + PASSPORT PAN CARD COPY
  2. ADDRESS PROOF IF RENTED ALSO REQUIRED PERMANENT ADDRESS PROOF
  3. LAST 3 YEARS FORM -16, ITR WITH COMPUTATION OF INCOME IF FILE
  4. LAST 1 YEAR BANK STATEMENT - SALARY ACCOUNT
  5. LOAN SCHEDULE & SANCTION LETTER (IF RUNNING)
  6. COMPLETE PROPERTY PAPERS WITH CHAIN & MAP +ATS
  7. PROCESSING FEE CHEQUE IN FAVOUR OF BANK
  8. ALL DIRECTORS PHOTOGRAPH
  9. CLEAR PAN CARD - COMPANY AND ALL DIRECTORS
  10. ADDRESS PROOF – COMPANY AND DIRECTORS
  11. LIST OF DIRECTOR& SHARE HOLDER WITH CA CERTIFIED AS ON DATE
  12. GST, SALE, VAT AND SSI REGISTRATION CERTIFICATE
  13. 1 YEAR GST RETURNS
  14. ALL DIRECTORS INDIVIDUALS ITR & COMPUTATION LAST 3 YEARS
  15. LAST 3 YEARS COMPLETE FINANCIAL WITH TAX AUDIT REPORT AND ANNEXURE
  16. COMPANY ALL BANK ACCOUNT STATEMENT 1 YEAR UPDATED
  17. ALL DIRECTORS SAVING A/C STATEMENT 6 MONTH
  18. PROPERTY PAPERS COMPLETE CHAIN WITH SANCTION MAP
  19. LAST 3 MONTHS SALARY SLIP + APPOINTMENT LETTER

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