IDBI Bank offers personalized financial and banking solutions to customers in the corporate and retail sector through its cutting edge banking platform. The bank is a new generation public sector universal entity that is spread across the country with its large network of branches and ATMs. The commercial property loan by IDBI Bank has been introduced to enable purchase of re-sold or readily constructed building or property for commercial purposes.
The following eligibility criteria need to be fulfilled in order to avail the IDBI Commercial Property Loan:
The following are the key features of the IDBI Commercial Property Loan:
Liquid collateral in the form of hypothecation or pledge is also accepted by the bank.
The following documents are required while applying for the commercial property loan at IDBI Bank:
Self-employed Professionals as Applicants:
Self-employed Non-professionals as Applicants:
No, IDBI Bank grants commercial property loan to salaried applicants who are above 22 years only.
The permissible maximum age at the time of loan termination is 65 years.
IDBI can give a commercial property loan of up to Rs.5 crore. The bank may consider special cases for amounts above Rs.5 crore.
A businessman can provide ITR filed as well as a balance sheet showing profit and loss made from the business, as income proof while applying for the loan.
IDBI Bank provides maximum funding of up to 55% of the commercial property’s price in the market or 65% of the registered value, including stamp duty and registration fee.