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Commercial loans (LAP)
 
Commercial Loans
Features at Glance
Loan against Property

PLEASE REFER “LOANDEAL POST” FOR INTERST RATE AND TENURE DETAILS
Commercial loan is a loan taken to fund purchase of a new office premise. The process is somewhat similar to Home Loan procedures. Loandeals provides you with a range of products from various banks and Financial Institutions. Here, Loandeals not only offers term loans but also overdraft facilities through leading banks.

In Commercial Loans / Loan against Property, while a lot depends on the market value of the property, there are other factors that may influence the loan amount eligibility

Market Value of the property

Age of the property

Area where the property is located

Whether the property is self occupied, vacant or rented


Features of Commercial Loan at a glance

Loan Amount offered : 10 Lacs and above

Eligibility : The amount is based on the Market Value of the property (up to 70% of Market Value) and repayment capacity of the borrower (This is based on the financial strength and the existing loan track record of the borrower)

Flexibility : Borrower can choose between EMI and an Overdraft facility

Interest Rate : The interest rate offered under this product is very attractive (please refer to the interest rate chart)

Speedy Process : The processing time is around 15 days once all the documents submitted are in order

Longer Tenure : Tenure offered by most of the banks extends up to15 years

Easy Repayment : As long term loans are available, repayment becomes easier and cash flow can be managed efficiently


Loan against Property (LAP)

Loan against property is a secured loan and as the name suggests, this type of loan can be availed against any residential or commercial property owned by you.

Advantages :

They are cheaper than Business Loans since the interest rates for business loans are around16-21%

LAP is given for a maximum tenure of 10 years

Since this is a secured loan, banks approve the loan in about 7days period


When is Loan against Property taken?

For Renovations /Repairs

Business Requirements

Higher Studies

Investment Opportunities like buying land in your native place, buying machinery for your business, and similar other

Emergency situations like Medical, Health, and similar other

Marriage expenses


PLEASE REFER “LOANDEAL POST” FOR INTERST RATE AND TENURE DETAILS