Individuals, Professionals and Self-employed people, firms (registered partnership firms/companies) and businessmen for purchase of Office space and / or shops. The applicant should have been in the activity for a minimum period of 3 years

• To purchase new commercial space/shops and also second hand purchase provided the residual life of the commercial space is not less than actual repayment period plus ten years
• Take over existing loan of standard asset category given for similar purpose, from other Banks/Financial Institutions.
• The applicant may acquire the property for running his own business activity and even for letting out to third party traders/entrepreneurs, provided rental income is routed through our loan account.

Not more than 50 years of age at the time of availing the facility

Individuals/ professionals,	36 times of monthly gross income or 60 months net income whichever is higher
Self employed professionals	Gross income net of tax before deducting depreciation

Max Loan amount: Rs. 50 lakhs

• Income of co-borrower can be included in arriving at the quantum
• In case of firms/company, 5 times of the cash profit of immediately preceding financial year or four times of average cash profit for the last three years whichever is higher
  

7 years (84 EMI)

Less than 36 months	10.50% floating
36 months & above	11.00% floating

• If the option is for Fixed rate, 0.50% over and above the applicable rate will be charged

A maximum of 3 months for ready built commercial space and a maximum of 12 months from the date of first disbursement where property is under construction.

• Interest to be serviced during the holiday period

2% of the drawing limit to be levied in case of take over by other Banks/Financial Institutions.

0.50% of loan amount to be recovered alongwith charges for obtaining legal opinion and valuation report at the time of application

• Minimum 25% on the value of the property.
• For purchase of ready built commercial space, the borrower should bring in full margin amount prior to release of limits by the Bank
• Where construction is involved, it shall be on pro rata basis

Property to be insured with Bank's clause at the borrower's cost

• Equitable Mortgage of Commercial Property to be acquired
• Personal guarantee of a third party having Net Worth not less than the loan amount in case of individual borrowers.
• Personal guarantee of partners/directors in individual capacity