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Why Take Commercial Loan From Us?

  • 20 years of experience in commercial property loan.
  • Commercial property loan up to Rs. 100 crore.
  • Lowest ROI & processing fees or “NIL” processing fees.
  • Loan up to 75% of property value.
  • 20% higher loan amount than other service provider.
  • “NO INCOME PROOF” loan.
  • Commercial property loan to “LOW CIBIL SCORE” or “NO CIBIL SCORE”.
  • Commercial property loan based on past loans repayment track records.
  • Loan to all kinds of profile. There is “NO NEGATIVE PROFILE”.
  • Commercial property loan on almost all types of property .
  • Minimum Documentations.
  • Fastest loan approval guaranteed
  • No Hidden Charges.
  • Amicable after sales service.

Do you want to know more about commercial property loan?

Commercial property loan is an amount borrowed by an individual from bank or NBFC to buy commercial property like ready to move in office, showroom, shop, etc. Bank or NBFC mortgage the commercial property offered by the borrower and charged EMI on the loan amount. EMI consists of both interest and principal amount, which has to be paid by the borrower to the bank or NBFC. EMI calculation depends upon three factors i.e. (i) Loan Amount, (ii) Loan Tenure, and (iii) Rate of Interest. EMI on loan amount remains same throughout the loan tenure, if rate of interest not changed.

The price of the commercial property is very high, so commercial property loan plays a vital role in purchasing commercial property like ready to move in office, shop or showroom, etc. Loan for purchase of commercial property is a popular category of loan.

To Enhance Goodwill And Networth Of The Business: If a businessman have his owned office, shop, or showroom etc. is a key factor of his success and his business growth. It enhance net worth and goodwill of the company. All the business associates like supplier, creditors, investor, banker, consumer, employee, etc. have firm trust and belief in the company stability due to its owned office. Goodwill of the company will enhance business of the company and this will results in overall growth of the businessman.

Rented Office To Owned Office: In India, commercial property rents are very high. If a businessman have his office, shop or showroom, etc. in rented premises, then it is wise to borrow a commercial property loan from bank or NBFC and shift to your owned office. This will not only increase the goodwill of the company but also increases net worth of the company.

Rent will compensate towards EMI (Equated Monthly Installments) and this will also give you capital appreciation. Investment in the property by taking commercial property loan from bank or NBFC will not only give capital appreciation but also peace of mind, social respect and recognition. Loan for purchase of commercial property is aided by Sanuk Financial Services.

High Commercial Property Price: As the price of the commercial property is very high and buyer may not have all the amount to buy the commercial property like ready to move in office, shop, showroom etc., bank or NBFC are there to lend you money in the shape of commercial property purchase loan for which they charge interest on the loan amount.

Regular Rental Income: As the price of the commercial property is very high so rent on the commercial property is also very high. If an individual or businessman buying a commercial property for the investment purpose then it is a good source of regular rental income. This rent will not only compensate your commercial property loan EMI but also gives capital appreciation.

Low Rate Of Interest: Bank or NBFC is offering very low rate of interest on commercial property loan in comparison to private lender or financer, so it’s a win-win situation for both bank and borrower.

Commercial property loan depends upon type of commercial property, an individual want to purchase. As per the need of the borrower bank or NBFC come up with different types of commercial loan product, with unique feature and advantage at lower rate of interest. So it is always advisable to consult with a professional consultant before taking a commercial property loan.

If you need a professional guidance then contact Sanuk Financial Services. We are always with you.

Commercial Property Loan can be classified into following ways:
  • Commercial Loan For Ready To Move In Office: When an individual buying a ready to move in commercial property like office, shop, or showroom etc from any authority, builder, seller or any other legal body and borrowed loan from bank or NBFC against commercial property. This type of loan is called commercial property loan against ready to move in office, shop or showroom.

    In India, you can take Sanuk Financial Services professional consultancy. We will be there with you for your each step.

  • Commercial Plot Purchase Loan: When and individual buying a commercial plot to construct his own office, shop or showroom etc from any authority, builder, seller, or any other legal body and borrowed loan from bank or NBFC against commercial plot. This type of loan is called commercial plot purchase loan. Commercial plot purchase loan is not provided by all the bank or NBFC. There are few banks or NBFC only which are providing commercial plot purchase loan.
  • Commercial Property Construction Loan: When an individual want to built or construct office, shop or showroom on his pre-owned commercial plot and borrowed loan from bank or NBFC. This type of loan provided by the bank or NBFC is called commercial property purchase loan or construction loan. Bank or NBFC is providing construction loan on the basis of construction estimate duly vetted by empanelled architect of bank or NBFC. Loan is disbursed as per the stage of construction being recommended by empanelled valuer of the bank or NBFC.
  • Commercial Property Rennovation Loan: If an individual want to renovate his office, shop or showroom etc., or any type of changes in the interior or exterior of the office, then bank or NBFC provides office renovation loan or commercial property renovation loan. To avail office renovation loan or commercial property renovation loan, borrower has to submit a detailed renovation estimate. Bank or NBFC is providing office renovation loan on the basis of renovation estimate duly vetted by empanelled architect of bank or NBFC.
  • NRI Commercial Property Loan: If a person is a Non-Resident of India, and want to purchase a commercial property in India for investment purpose, then bank or NBFC provides him a commercial property loan which is called NRI commercial property loan.
  • Commercial property loan to NRI is not provided by all the bank or NBFC. There are only few banks or NBFC which provides commercial purchase loan to NRI. The requirement and procedure of NRI commercial property loan is different from regular commercial property loan.

Commercial property loan is an agreement between borrower and the lender (bank or NBFC) that regulates the term & condition of loan. Loan eligibility criteria for almost all the banks are different but there are some common loan eligibility criteria which borrower has to fulfill to avail commercial property loan from bank or NBFC.

Following are some key important factors which would be checked by bank or NBFC to accept or reject the commercial loan application:

  • Age: At the time of commercial property loan application, applicant must be 21 years or above but not more than 60 years in case of applicant is salaried or 65 years in case applicant is self employed professional or self employed non professional, because repayment of the loan has to be completed on or before 60 or 65 years of borrower age.
  • Employment Continuity: Bank or NBFC checks employment continuity of an individual who is applying for commercial property loan. An individual should have 3 years of working experience in the business or employment. A regular source of income, ensure the lender regular repayment of their loan EMI.
  • Cibil Score: A commercial property loan borrower who is having good cibil score will get quick loan from the bank or NBFC. Cibil score is a decisioning factor for sanctioning or rejecting commercial loan applications.

What are the documents required for Commercial property loan?

Documents required for Commercial property loan depends upon the type of employment of an individual.
Documents required for different types of employment are as follows:

KYC Documents

  • Pan Card
  • Aadhar Card
  • Voter ID Card
  • Passport
  • Latest Month Electricity Bill
  • Copy of Rent Agreement
  • Copy of Registered Lease Deed
  • Employee ID Card

Income Documents

  • Latest 3 months salary slip
  • 3 years form-16, 26AS, ITR with computation of Income
  • Annual CTC Letter
  • Copy of Appointment Letter

Bank Statements

  • One year up to date salary account statement

Loan Documents

  • Copy of Sanction Letter
  • Up to date loan account statement
  • Loan repayment schedule
  • 12 Month up to date bank statement
    showing repayment of the loan
  • Loan closure proof if loan is closed

Property Documents

  • Copy of Agreement to Sale (ATS)
  • Copy of previous chain of property papers
  • Copy of approved sanction plan or Map

KYC Documents

  • Pan Card
  • Aadhar Card
  • Voter ID Card
  • Passport
  • Latest Month Electricity Bill
  • Copy of VAT/ Sales Tax, GST, Import-Export or any other registration Certificate
  • Latest Office Address proof i.e electrcity bill, rent agreemen etc.
  • Company Profile on the Letterhead of the firm

Income Documents

  • Latest 3 year ITR with computation of Income including P & L a/c, balancesheet
    with their schedule and annexures duly certified by CA
  • Form No. 3 CA & 3 CD in case of audited balance sheet
  • Latest 2 years VAT/ Sales Tax/ GST return
  • Latest 2 year form 26AS if applicable

Bank Statements

  • One year up to date all the saving and current account statement

Loan Documents

  • Copy of Sanction Letter
  • Up to date loan account statement
  • Loan repayment schedule
  • 12 Month upto date bank statement showing repayment of the loan
  • Loan closure proof if loan is closed

Property Documents

  • Copy of Agreement to Sale (ATS)
  • Copy of previous chain of property papers
  • Copy of approved sanction plan or Map
Individual Partners Document

KYC Documents

  • Pan Card
  • Aadhar Card
  • Voter ID Card
  • Passport
  • Latest Month Electricity Bill
  • Copy of Rent Agreement/ Registered Lease Deed

Income Documents

  • Latest 3 year ITR with computation of Income
  • Latest 2 year form-16 with 26AS if applicable

Bank Statements

  • One year up to date all the saving account statements

Loan Documents

  • Copy of Sanction Letter
  • Up to date loan account statement
  • Loan repayment schedule
  • 12 Months up to date bank statement showing repayment of the loan
  • Loan closure proof if loan is closed

Property Documents

  • Copy of Agreement to Sale(ATS)
  • Copy of previous chain of property papers.
  • Copy of approved sanction plan or Map.
Partnership Firm Documents

KYC Documents

  • Pan Card
  • Copy of VAT/ Sales Tax, GST, Import-Export Certificate or any other registration certificate
  • Copy of Partnership Deed
  • Latest office address proof i.e. electricity bill, rent agreement etc.
  • Company Profile on the Letterhead of the Company

Income Documents

  • Latest 3 year ITR with computation of Income including P & L a/c, balancesheet with their schedule and annexures duly certified by CA
  • Form No. 3 CA & 3 CD in case of audited balance sheet
  • Latest 2 years VAT/ Sales Tax/ GST return
  • Latest 2 year form 26AS if applicable

Bank Statements

  • One year up to date all the current account statement

Loan Documents

  • Copy of Sanction Letter
  • Up to date loan account statement
  • Loan repayment schedule
  • 12 Months up to date bank statement showing repayment of the loan
  • Loan closure proof if loan is closed
Individual Directors Document

KYC Documents

  • Pan Card
  • Aadhar Card
  • Voter ID Card
  • Passport
  • Latest Month Electricity Bill
  • Copy of Rent Agreement/ Registered Lease Deed

Income Documents

  • Latest 3 year ITR with computation of Income
  • Latest 2 year form-16 with 26AS if applicable

Bank Statements

  • One year up to date all the saving account statements

Loan Documents

  • Copy of Sanction Letter
  • Up to date loan account statement
  • Loan repayment schedule
  • 12 Months upto date bank statement showing repayment of the loan
  • Loan closure proof if loan is closed

Property Documents

  • Copy of Agreement to Sale(ATS)
  • Copy of previous chain of property papers.
  • Copy of approved sanction plan or Map.
Private Limited or Limited Company Documents

KYC Documents

  • Pan Card
  • MOA & AOA
  • Copy of VAT/ Sales Tax, GST, Import-Export Certificate or any other registration certificate
  • Latest office address proof i.e. electricity bill, rent agreement etc.
  • Company Profile on the Letterhead of the Company
  • List of director & shareholder with their shareholding pattern duly certified by CA.
  • Latest form-32

Income Documents

  • Latest 3 year ITR with computation of Income including P & L a/c, balancesheet with their schedule and annexures duly certified by CA
  • Form No. 3 CA & 3 CD in case of audited balance sheet
  • Latest 2 years VAT/ Sales Tax/ GST return
  • Latest 2 year form 26AS if applicable

Bank Statements

  • One year up to date all the current account statement

Loan Documents

  • Copy of Sanction Letter
  • Up to date loan account statement
  • Loan repayment schedule
  • 12 Months up to date bank statement showing repayment of the loan
  • Loan closure proof if loan is closed

KYC Documents

  • Pan Card
  • Copy of Passport with VISA
  • Copy of Green Card
  • Complete CDS certificate in case of Merchant Navy
  • Copy of valid residence proof in abroad
  • Employee ID card or Labour card
  • Copy of latest work permit

Income Documents

  • Latest 3 months salary slip
  • Latest 3 years income tax acknowledgement form
  • Annual CTC letter
  • Copy of appointment letter
  • Credit report from credit agency

Bank Statements

  • One year Upto date NRI Salary account statement
  • One year Upto date NRO/NRE account statement

Loan Documents

  • Copy of Sanction Letter
  • Up to date loan account statement
  • Loan repayment schedule
  • 12 Month upto date bank statement showing repayment of the loan
  • Loan closure proof if loan is closed

Power of Attorney Holders Documents

  • Copy of PAN card & Aadhar card
  • Power of Attorney in favour of blood relatives or relatives in India

Property Documents

  • Copy of Agreement to Sale (ATS)
  • Copy of previous chain of Property papers
  • Copy of approved sanction plan or Map

What is the rate of interest of commercial property loan in 2018?

Currently the rate of interest of commercial property loan is based upon marginal cost of lending rate (MCLR) plus margin on the MCLR depending upon the bank or NBFC risk taking appetite. In the current commercial loan market, there is a stiff competition between various banks or NBFC. They offers lowest rate of interest to attract prospective commercial property loan buyers.

Commercial property loan rate of interest is at least 1% to 2% higher than residential home loan. It can go up to 4% to 5% if the financial documents have lesser strength or some surrogate loan product is offered. Surrogate loan product is offer when loan eligibility calculated on banking, repayment track records of previous loans, low LTV (Loan to value ratio), turnover of the company, gross profit margin, etc.

As a borrower, it is advisable to compare commercial property loan interest rates of different bank and financial institutions and chose the best one which suits your need.

OR

You may take expert advice of Sanuk Financial Services professional consultants who will help you to choose best bank or NBFC who offers you lowest rate of interest on commercial property loan with ZERO / nominal bank processing fees.

What are the other key factors to be considered before choosing best commercial property loan?

Before taking commercial property loan it is advisable to consider following factors:

  • Budgeting: As the price of the commercial property is very high, so purchasing commercial property from own pocket is not possible for all of us, it is a very big and life time investment, so commercial property loan is the best way to purchase a property but before taking commercial property loan it is necessary to do proper budgeting.

    Bank or NBFC will provide commercial property loan up-to maximum 75% of cost of property or market value whichever is lower. So before taking commercial property loan it is necessary to keep 25% margin money or own contribution with other charges like stamp duty, registration charges, loan processing fees, brokerage etc.
  • Loan Eligibility: Once budgeting is finalized then check your loan eligibility, that how much loan you can avail from bank or NBFC. All the banks or NBFC have different product and policy to calculate the loan eligibility of the borrower. Loan eligibility also depends upon so many other factors like age, income, cibil score, work profile and financial stability etc.
  • Rate Of Interest: Before taking commercial property loan, check rate of interest charged by different bank or NBFC, as it has a major impact on your EMI. If rate of interest is high then EMI is also high, so choose the bank which provides lower rate of interest so EMI will not put extra loads on your budget.
  • Loan Processing Fees: Bank or NBFC charges loan processing fees to process your commercial property loan application. There are two types of charges one is loan processing fees and the other is loan administration charges.

    Loan processing fees charges by the bank or NBFCs to process your loan application, valuation of the property, legal verification of the property, residence verification, office verification, due-diligence of income documents and bank statement etc. It could be a fixed percentage of your loan amount or a fixed amount.

    Loan administration charges are taken by bank or NBFCs to maintain your loan account after disbursement. Some bank or NBFC took upfront fees however some of them charged after sanction of the loan amount. So check loan processing charges of bank or NBFCs deeply before applying for the loan.
  • Minimum Area Of Commercial Property: To avail commercial property loan from bank or NBFC, borrower must check minimum area norms of lender. Bank or NBFC may refuse to fund a property which is less than 250 sq. ft.
  • Part Payment Charges: When borrower want to make some payment towards principal amount of commercial property loan, bank or NBFC may charge part payment charges from the borrower. It is advisable to read the terms and condition of your loan sanction letter and loan agreement carefully and make sure that it is not very high compared to market.

    If you apply through Sanuk Financial Services, our professional consultant will assist you in negotiating with the banks on rate of interest, loan processing fees, part payment charges, foreclosure charges etc. Sometimes we also offer exclusive loan scheme to our valued customers on behalf of the bank like nil processing fee or nil part payment or foreclosure charges.
  • Loan Foreclosure Charges: When borrower decided to close his commercial property loan before the completion of loan tenure or period. Bank or NBFCs may levy 1% to 5% foreclosure charges on outstanding loan amount.

    If you apply through Sanuk Financial Services, our professional consultant will assist you in negotiating with the banks and may get ZERO foreclosure charges for you.
  • Commercial property loan Terms And Conditions: Bank or NBFCs laid down several conditions related to balance transfer of commercial property loan to another lender, cheque bouncing charges, late payment charges, interest on late payment etc. It is advisable to read all the terms and conditions before choosing the best bank.

Why I should take commercial property loan from Sanuk Financial Services and how do we help?

Today internet is the source of information and there is a lot of information available about the commercial property loan on internet and we have also tried to give you some information about commercial property loan but the most important question is that Why I should take commercial property loan from Sanuk Financial Services and how do we help you in choosing best commercial property loan ?

Almost all the banks or NBFC claims to offer you the best deal. Most of the people confused with the various offers and deal, so we are here to help you to choose the best commercial property loan.

About Sanuk Financial Services

Sanuk Financial Services is the one stop solution for all your financial needs. We are into this business for more than a decade. Sanuk Financial Services will analyze different loan offers and suggest you best deal on commercial property loan with great customer services. Our expert provides best deal on wide range of products to the customer to take right decision.

Why Choose Sanuk Financial Services?

Sanuk Financial Services knows that you have numerous options when it comes to procuring loans. For example, you could turn to a bank or NBFC (Non Banking Financial Corporation). In addition, the Internet is home to numerous lenders who want to reel you in. However, there's no need to search any further. Here are the reasons Sanuk Financial Services is the only resource you'll need.

Sanuk Financial Services Invested in Your Safety

It's easy to stumble upon fraudulent websites during your search for a suitable loan. Under the guise of reliable lenders, hackers will use infectious malware programs to obtain your private information. You'll also have to keep your guard up for fake application pages. These pages will steal any personal sensitive information that you input.

There's no need to take risks with your personal financial records. Skip those unsecure sites and work with us. Sanuk Financial Services features secure web pages that are free of malware infections. When you work with us, your information is safe.

Sanuk Financial Services Offers Choices

When you use our services, you'll have access to a large network of lenders without even leaving home. Alternatively, you can save your valuable time and money traveling to a physical loan lender. The smart choice is obvious. Give your feet a rest; stay home and work with us. You find the lender that seems best for you.

Sanuk Financial Services Works Fast

We understand that when you're applying for loan, you want the loan as soon as possible. For this reason, our request process is swift and hassle-free. If you have the required information handy, you can receive funds as soon as the next business day.

Don't get caught up in delays and complicated requirements of other service provider. Sanuk Financial Services process is faster than working with any other service provider, so count on us for immediate emergency loan requirement.