Commercial property loans are credit options lenders offer against mortgage of a commercial property. It is a type of credit that gives you some of the best features and benefits of the lending market. Understand the concept of a loan on commercial property in details.
A commercial or a real estate property is one that you use to run a business or any other commercial undertaking. As per the concept of loan on commercial property, you can avail it to purchase any commercial property where you aim to run a business or to renovate it.
Bajaj Finserv brings this credit option with modifications in existing conditions to benefit borrowers. So, if you already have a commercial property, you can easily mortgage it and avail a high-value loan amount with no end-use restriction.
Thus, Loan Against Property can be used to meet several big-budget financial requirements.
A loan on commercial property is a type of Mortgage Loan that is secured through the mortgage of commercial property instead of residential property.
Bajaj Finserv provides this loan to borrowers at affordable mortgage rates of interest and charges, one of the lowest in the market. Flexible repayment tenors of up to 20 years makes it even more borrower-friendly.
You pay lower EMIs as the amortisation process used for calculation distributes the interest calculated as per the applicable Property Loan rates in a more extended number of months.
Bajaj Finserv’s commercial Property Loan also comes with Flexi Loan Facility that lets you withdraw the required money from a pre-sanctioned loan amount. You can opt to prepay at any time before the tenor ends.
Also Read: What is a Personal Property Loan
Loan on commercial property from Bajaj Finserv also requires you to meet mortgage eligibility criteria and documents to avail the same. Meet them and know how to apply for Loan Against Property to avail the same.