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IDBI Bank Commercial Property Purchase

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

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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 :
The product is available to:-
� 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 (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.)

*Subjected to repayment capacity of the individual as assessed by IDBI Bank Ltd.

Documentation:
The Following documents are required along with Application Form to process your Loan.

Salaried Customers	Self Employed Professionals	Self Employed Non Professionals
Application form with photograph	Application form with photograph	Application form with photograph
Identity and Residence Proof	Identity and Residence Proof	Identity and Residence Proof
Latest Salary-slip for last 3 months	Education Qualification Certificates and Proof of business existence	Proof of business existence
Form 16/ITR	Last 3 years Income Tax returns	Business profile
Last 6 months bank statement	Last 3 years Profit /Loss and Balance Sheet	Last 3 years Income Tax returns
Last 6 months bank statement	Last 3 years Profit /Loss and Balance Sheet	Last 3 years Profit /Loss and Balance sheet statement.
Processing fee cheque	Last 6 months bank statements	Last 6 months bank statements
Processing fee cheque	Processing fee cheque	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:
Following are the schedule of charges and Terms & Conditions applicable on Home Loans and Loans against property.
Click here to download the schedule of charges.

How to apply:
You can help us by choosing any of the following ways to provide you our Loan Solution:-
IDBI Bank Branch Locator: Click here to know the Branch nearest to your location. Contact our Branch Personnel.

Call IDBI Loan Against Property Sales Officer in your City.

Apply online

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