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Reliance Commercial Finance offers commercial property loans to customers who are looking for finances to achieve their personal or business goal. By taking this loan, you enjoy the financial freedom to venture on any business possibility that involves buying a property.
The following products can be financed at Reliance Commercial Finance:
The following eligibility criteria must be fulfilled in order to avail the commercial property loan from Reliance Commercial Finance:
The following documents are required to be submitted when applying for a Reliance commercial property loan:
Partnership or Sole Proprietary or Private Limited Company as Applicant:
The following are the significant features of the Reliance Commercial Property Loan:
Loan Tenure – You can avail a commercial property loan at Reliance Commercial Finance with a loan tenure of 3 years up to 15 years.
Loan Amount – Up to 75% of the registered property price can be availed in a loan towards commercial property.
Loan Repayment – There are two most easy ways to make loan repayments, either through PDCS (Post dated cheques) or ECS (Electronic Clearing System).
Loan Guarantor or a Co-applicant – All owners of the property must be co-borrowers. In case of sole property owner or applicant, one adult member of the family must be a co-applicant. In case of partnerships, partners are taken as co-applicants, while in case of private limited companies, promoter directors are taken as co-applicants.
Process of Availing the Loan:
The various stages of availing a commercial property loan at Reliance Commercial Finance are:
The following fees and charges are applicable in a commercial property loan from Reliance Commercial Finance:
Once the documentation is complete, commercial property loans are processes within two working days at Reliance Commercial Finance.
Yes, you can pre-pay the loan at any time after completion of 6 months from the date of final disbursement of the loan amount. However, charges for foreclosure have to be paid.
The maximum loan tenure that you can get towards the loan is up to 15 years.
Yes, part pre-payments of minimum Rs.50,000 can be made, after completion of six months from the loan date. Please note that this payment can be done only once in the fiscal year, when a maximum of 25% of the outstanding balance is remaining.
You will be required to pay Rs.100 as foreclosure statement charges.