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Commercial property loans are loans which are provided by different banks/ financial institutions for purchase of commercial property or against commercial property. It is for buying an office or showroom or investment in commercial real estate. Commercial property loans are provided by banks/ financial institutions like home loan and the same property is pledged as a security. Options available for commercial property loans are lesser than the options available for home loan. Most institutions lend 55% - 80% of the value of the property provided the borrower having the ability to pay the instalment for such a loan.
Owning a home is a dream for everyone and it has become really easy as variety of home loan options are available in the market, provided by different banks/ financial institutions. A home loan is a type of loan where funds are provided by the lender (Bank/ Financial Institution/ NBFC or a Housing Finance Company) For Home purchase loans: for the purchase of a new home. Land purchase loans: for purchase of land for home construction/ investment purposes. Home construction loans: for the construction of a new home. Home extension loans: for expanding/ extending an existing home. Home improvement loans: for implementing repair works/ renovations in a home that you have already purchased. Refinance loans: helps you pay off the debt you have incurred from private sources like relatives/ friends, for the purchase of your present home. Loans to NRIs: to build/ buy a home in India. EMI is payable till the loan is paid back in full. It consists of a portion of the interest as well as the principal. Balance transfer loans: helps you to pay-off an existing home loan and avail the option of a loan with a lower rate of interest. This is provided for resenditial property and is a secured loan, as it is offered against the property for which the bank is providing the funds and same property is taken by lender as a security. Normally banks/ NBFC or housing finance companies provide 75% - 85% of the cost of property provided the borrower have the ability to pay the instalment for such a loan.