HDFC Commercial Property Loan

Businesses can be demanding. Arranging for a property where you can build your next retail outlet can be even more challenging. HDFC Bank commercial property loans help borrowers purchase the desired property where they can build their own offices. The loan amounts are offered against a mortgage of the concerned property until the settlement of the loan.

At Urban Money, we assist our customers in submitting the best loan application to maximise their chances of approval. Young entrepreneurs and seasoned professionals can easily bring their business visions to life using these loans. Stay tuned as we discuss the complete details ahead.

HDFC Commercial Property Loan - Highlights

Here is a quick look at the key offerings of commercial property loans by HDFC Bank.

Maximum Loan Period Up to 15 years
Interest Rate 8.75%-9.40% p.a.
Type of Interest Rate Fixed/Floating
Security  Mortgaging the concerned property until the loan is settled

HDFC Commercial Property Loan - Features

The HDFC commercial shop loan offers the following advantages to its borrowers:

  • Competitive Interest Rates
  • Online Applications
  • Prepayment Facility 
  • Balance Transfer Facility
  • Flexible Repayment Options
  • Co-Applications Accepted

HDFC Commercial Property Loan Interest Rates

The interest rate for the loan ranges from 8.75% p.a. to 9.40% p.a. The bank charges different rates of interest from different borrowers, depending upon their creditworthiness. The higher their credit scores, the more attractive the interest rates. Interest rates significantly impact loan EMIs. Therefore, one must effectively negotiate for favourable interest rates while applying for a loan. 

HDFC Commercial Property Loan Eligibility Criteria

Borrowers satisfying the following criteria are eligible for an HDFC commercial building loan.

  • Eligible Candidates: Self-Employed Individuals
  • Age Limit: 18-80 years
  • Residential Status: Indian/ NRI
  • High Credit Score
  • Other criteria as specified by the bank

HDFC Commercial Property Loan Document Requirements

Borrowers must carry the following documents while applying for an HDFC bank loan for commercial property.

  • Duly Filled Loan Application
  • PAN Card/ Form 60 (Mandatory) 
  • KYC Documents: ID Proof (Aadhar Card/ Valid Passport) and Residence Proof (Utility Bills/ Aadhar Card)
  • Income Documents: Last 2 years’ IT Returns/ Last 2 years’ Balance Sheet and P&L Account
  • Property Documents: Title Deeds, Buyer Agreement

HDFC Commercial Property Loan Additional Charges

Apart from the HDFC commercial property loan interest rates, the bank levies the following additional charges:

  • Processing Fee: A processing charge of up to 1% of the loan amount, plus taxes, is applicable. 
  • Pre-payment Charges: A 2.5% of the excess amount + GST is charged only if prepayment exceeds 25% of the total loan amount.
  • Premature Closure Charges: The bank also charges numerous premature closure charges at various rates.

HDFC Commercial Property Loan - Terms and Conditions

HDFC Bank’s commercial property loans are secured loans. The loan amount is sanctioned against the mortgage of the concerned property with the bank. The bank may use this property to recover their losses in case a borrower fails to repay the loan. It’s returned to the borrower as soon as the loan is repaid.

Urban Money