Faqs - L&T Finance

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What is a Commercial Property Loan?

A Commercial Property Loan is a type of financing specifically designed for purchasing, constructing, or renovating non-residential properties such as office spaces, retail outlets, or industrial buildings. This loan can help businesses acquire commercial properties to expand their operations or invest in real estate.

Who can avail of a Commercial Property Loan?

Commercial Property Loans are available to self-employed professionals like doctors, chartered accountants, architects, lawyers, and self-employed non-professionals, including traders, commission agents, and contractors. Applicants must be residents of India with a stable income.

When can I apply for a Commercial Property Loan?

You can apply for a Commercial Property Loan when you need funds to purchase, construct, or renovate a commercial property. Whether expanding your business, moving to a new office space, or investing in real estate, this loan can provide the financial support you need.

Who is eligible for a Commercial Property Purchase Loan?

Eligibility for a Commercial Property Purchase Loan includes Indian residents who are self-employed professionals between 23 years to 70 years and self-employed professionals aged between 25 and 70 years. The applicant should also have a stable income and a good credit history to qualify for the loan.

How can we apply for a Commercial Property Purchase Loan?

To apply for a Commercial Property Purchase Loan, visit the L&T Finance website and fill out the online application form. You will need to provide personal details, financial documents, and property-related information. The process includes verifying your documents and assessing your loan eligibility quickly.

How much of a Commercial Property Loan can I get?

The loan amount you can get under a Commercial Property Loan depends on the property's value and your eligibility. L&T Finance offers loans ranging from ₹ 3 Lakh to ₹ 7 Crore, depending on the property’s value, your credit score, and your ability to repay the loan.

What is the maximum loan amount I can get under L&T Finance for Commercial Property Purchase?

L&T Finance offers a maximum loan amount of ₹ 7 Crore for Commercial Property Purchase. The exact amount you can borrow will depend on your creditworthiness, income, and the value of the property being financed.

What are the documents required for a Non-Residential Property Loan?

Required documents include age proof, address proof, photo ID, income proof, business documents, and bank statements.

What is the maximum tenure I can avail of a Commercial Property Purchase Loan?

The maximum tenure for a Commercial Property Purchase Loan with L&T Finance ranges from 3 to 20 years. This long tenure allows you to spread out the repayment of the loan, making the EMIs more affordable.

What is the interest charged on a Commercial Property Loan?

The interest rate on a Commercial Property Loan with L&T Finance starts at 9.55%* per annum. The rate is subject to change based on market conditions, your credit score, and the loan amount.

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