Commercial Property Loan

Yes, you can. Under the commercial property loan product, ICICI HFC provides loans to purchase commercial property in approved areas, provided the property is complete and has a clear legal title.

You can apply for a commercial property loan jointly by adding a co-applicant. Both applicants must submit joint ownership and income documents and meet the eligibility criteria for a commercial property loan.

ICICI HFC’s technical team conducts a site visit to assess the property. Valuation is carried out using the Property Appraisal System (PAS), which considers both the market value and the realizable value of the commercial premises before approving the commercial loan.

The financials of your business are used to assess stability, repayment capacity, and FOIR. ICICI HFC reviews documents such as Profit & Loss statements, Balance Sheets, and GST returns to determine eligibility for commercial property loans.

Applicants must submit the sale deed, title documents, municipal approvals, and an encumbrance certificate. These are essential to process a loan to buy commercial property.

Yes. When applying jointly, all property owners must be co-applicants. Their combined income is considered, and ownership documents are required to assess the commercial property loan application.

A CIBIL score of 700 or above is generally preferred for commercial home loans. A strong score can positively influence both the commercial property interest rate and the maximum loan amount sanctioned.

The commercial property loan interest rates are influenced by the loan amount, repayment tenure, and prevailing market commercial loan rates. ICICI HFC ensures competitive interest rates on commercial property loans and commercial construction loan products.