{"id":475,"date":"2020-12-10T09:41:14","date_gmt":"2020-12-10T09:41:14","guid":{"rendered":"https:\/\/www.loanfasttrack.com\/blog\/?p=475"},"modified":"2022-08-24T10:59:10","modified_gmt":"2022-08-24T10:59:10","slug":"commercial-property-loan-with-icici-bank-by-loanfasttrack","status":"publish","type":"post","link":"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/commercial-property-loan-with-icici-bank-by-loanfasttrack\/","title":{"rendered":"Commercial Property Loan With ICICI Bank \u2013 By Loanfasttrack"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"684\" src=\"https:\/\/www.loanfasttrack.com\/blog\/wp-content\/uploads\/2020\/12\/Commercial-Property-Loan-1024x684.png\" alt=\"Commercial Property Loan With ICICI Bank \u2013 By Loanfasttrack\n\" class=\"wp-image-476\" srcset=\"https:\/\/www.loanfasttrack.com\/blog\/wp-content\/uploads\/2020\/12\/Commercial-Property-Loan.png 1024w, https:\/\/www.loanfasttrack.com\/blog\/wp-content\/uploads\/2020\/12\/Commercial-Property-Loan-300x200.png 300w, https:\/\/www.loanfasttrack.com\/blog\/wp-content\/uploads\/2020\/12\/Commercial-Property-Loan-768x513.png 768w, https:\/\/www.loanfasttrack.com\/blog\/wp-content\/uploads\/2020\/12\/Commercial-Property-Loan-800x534.png 800w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-background\" style=\"background-color:#fcf0ef\"><tbody><tr><td>\n  <strong><em>Commercial\n  Property Loans @ lowest interest rates with ICICI Bank starting from 8% p.a.\n  with extended loan tenure of up-to 20 years.<\/em><\/strong>\n  <\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Introduction: What is Commercial\nLoan?<\/strong><\/h2>\n\n\n\n<p>A\nloan taken to purchase a commercial property \u2013 office premises, shop, factory,\nindustrial unit, manufacturing unit, gala &amp; commercial plot loan\/\ncommercial land loan, loan for construction of commercial property, etc. used\nonly for commercial purposes is referred to as Commercial Property Loan, also\nreferred to as Non-Residential Premises i.e., <a href=\"https:\/\/www.loanfasttrack.com\/mortgage-loan\/apply-online-now.html\"><strong>NRP Loans<\/strong><\/a>. <\/p>\n\n\n\n<p>Funding\ntaken for the extension, improvement, repairs &amp; renovations and\nconstruction of the commercial property is also covered under the head of NRP\nloans.<\/p>\n\n\n\n<p>It\nis easier to find and apply for residential property loans i.e. <a href=\"https:\/\/www.loanfasttrack.com\/home-loan\/apply-online-now.html\"><strong>home loans with Banks &amp; NBFCs<\/strong><\/a>, but finding a Bank\/NBFCs to\nfund your requirement for commercial real estate loans might not be that easier\nbecause of the limited know-how of the borrower and since the business property\nloan is provided by only limited Banks\/NBFCs. But the most popular and the\nleading name in the <a href=\"https:\/\/www.loanfasttrack.com\/loan-against-property.html\"><strong>mortgage<\/strong><\/a> industry -The ICICI Bank Ltd. has\nmade it easier for the buyer of the commercial property <a href=\"https:\/\/www.loanfasttrack.com\/index.html\"><strong>to avail\nloan<\/strong><\/a> to fund their commercial property at an attractive low ICICI commercial\nproperty loan interest rates with maximum loan tenure for commercial property\nloan. The borrower can take a loan to buy a <a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/purchasing-a-resale-property-or-investing-in-a-builder-property\/\"><strong>resale\/ready to move or under construction commercial\nproperty<\/strong><\/a>\/ office\/ shop\/ industrial unit either to be self-used or for investment\npurposes. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Features &amp; Benefits of Commercial\nProperty Loan ICICI Bank: &#8211;<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\"><li>Provider for a<a href=\"https:\/\/www.loanfasttrack.com\/mortgage-loan\/apply-online-now.html\"> <\/a><a href=\"https:\/\/www.loanfasttrack.com\/mortgage-loan\/apply-online-now.html\"><strong>lowest interest rate for commercial property loan<\/strong><\/a><a href=\"https:\/\/www.loanfasttrack.com\/mortgage-loan\/apply-online-now.html\">. <\/a><\/li><li>ICICI commercial property\nloan for purchase of commercial property -office premises, shops, loan for\nindustrial property, for purchasing the ready to move or under-construction\ncommercial property, loan for commercial <a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/everything-you-must-know-before-purchasing-a-land-availing-the-land-loans\/\"><strong>land purchase<\/strong><\/a> and construction, etc. are available\nat competitive interest rates in the <a href=\"https:\/\/www.loanfasttrack.com\/loan-against-property.html\"><strong>mortgage<\/strong><\/a> industry. <\/li><li>ICICI Bank commercial\nproperty loaninterest rate starts\nfrom 8% p.a.<\/li><li>Both salaried and\nself-employed\/ self-employed professionals can apply for loan to buy commercial\nproperty with ICICI Bank.<\/li><li>Lowest per lakh<a href=\"https:\/\/www.loanfasttrack.com\/emi-calculator.html\"> <\/a><a href=\"https:\/\/www.loanfasttrack.com\/emi-calculator.html\"><strong>EM<\/strong><\/a><a href=\"https:\/\/www.loanfasttrack.com\/emi-calculator.html\">I<\/a> starting from Rs.836\/-\nonwards.<\/li><li>Maximum funding up-to 70% of\nthe cost of the property.<\/li><li>Various range of commercial\nproperty loans including the loan against commercial property &amp; lease\nrental discounting &amp; balance transfer of commercial property loan.<\/li><li>Faster loan processing.<\/li><li>Simplified documentation.<\/li><li>No hidden costs.<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Commercial Property Loan Eligibility\nwith ICICI Bank<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Profile:<\/strong><br>* Both salaried and self-employed borrowers can apply for commercial loan with ICICI Bank.<br>* ICICI\u2019s commercial loan is also available for <a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/everything-you-must-about-nri-home-loans\/\"><strong>NRI loan borrowers<\/strong><\/a>. NRIs can apply for commercial loan in India with ICICI Bank.<\/li><li><strong>Eligibility Criteria: <\/strong><a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/what-do-you-mean-by-loan-eligibility-in-home-loan\/\"><strong>Eligibility<\/strong><\/a> criteria for all eligible loan borrowers: &#8211;<br>* <strong>Age \u2013<\/strong> minimum 21 years &amp; maximum up-to 70 years.<br>* <strong>Minimum Income \u2013 <\/strong>Rs.25,000\/- p.m. for salaried &amp; net profit of Rs.2,50,000\/- p.a. for self-employed.<br>* <strong>Co-Applicant &#8211; <\/strong>An earning <a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/know-the-co-applicant-in-home-loan\/\"><strong>Co-applicant\/s<\/strong><\/a> (spouse, children- son or daughter, parents-father or mother &amp; siblings -brother or sister) with minimum 18 years can be added to the loan application in order to increase the loan eligibility. A Co-applicant has to be in blood relation to an applicant. <\/li><li><strong>Minimum Sq. Ft. Area Requirement:<\/strong><br>Minimum area required for the commercial property is 200 sq. ft.<\/li><\/ul>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>&nbsp;Geographical Location of the Property:<\/strong><br>* The commercial property has to be within the approved corporation limits i.e., within the city limits.<br>* Grampanchayat property or plot is not considered for the loan.<\/li><li><strong>LTV (Loan To Value):<\/strong><br>ICICI provides the <strong>maximum LTV under loan for commercial purchase<\/strong> which is up-to 70% of the market value of the property.<\/li><\/ul>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Commercial Property Loan Rate Of Interest:<\/strong><br>Uniform commercial property interest rates for all (salaried\/self-employed\/self-employed professionals\/NRI) (including loan against commercial property interest rates) starting from 8% p.a.<br><br><a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/home-loan\/home-loan-comparison-chart-of-leading-banks\/\"><strong>Compare home loan interest rates of leading banks<\/strong><\/a><\/li><\/ul>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Commercial Property Loan Tenure:<\/strong><br>Up-to 20 years is the commercial property loan maximum tenure with ICICI Bank.<\/li><\/ul>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Processing Charges:<\/strong><br>* <strong>Processing Fees: <\/strong>1% of the loan amount plus applicable GST.<br>* <strong>Administration Charges: <\/strong>Rs.5,900\/-.<br>(<a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/must-know-all-costs-in-home-loan\/\"><strong>Click to know the complete loan charges<\/strong><\/a><strong> applicable<\/strong>)<\/li><\/ul>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Commercial Loan Takeover:<\/strong><\/li><\/ul>\n\n\n\n<p><a href=\"https:\/\/www.loanfasttrack.com\/balance-transfers.html\"><strong>Commercial loan takeover<\/strong><\/a> is available for all\neligible loan borrowers at lowest interest on commercial property loan starting\nfrom 8% p.a. with a good repayment history\/ track record for 12 months.<\/p>\n\n\n\n<p>&nbsp;Also Read:<a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/home-loan-transfer-requirements\/\"> <strong>Loan transfer requirements<\/strong><\/a><strong>,<\/strong><a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/benefits-of-home-loan-transfer\/\"><strong> <\/strong><\/a><a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/benefits-of-home-loan-transfer\/\"><strong>Benefits of loan transfer<\/strong><\/a>. <\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Top Up Loan on Commercial Property Loan:<\/strong><\/li><\/ul>\n\n\n\n<p>Existing loan borrowers can easily fulfil their\npersonal &amp; professional funding needs by applying for a top-up amount on\ncommercial loan at attractive commercial property loan interest rates ICICI\nBank (commercial shop loan interest rates, commercial building loan interest\nrates, commercial <a href=\"https:\/\/www.loanfasttrack.com\/home-loan.html\"><strong>home loan<\/strong><\/a> interest rates commercial\nland loan interest rates). Pre-requisite to apply for <a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/top-up-loans-loanfasttrack\/\"><strong>top up loan<\/strong><\/a> \u2013 the loan must be at-least 3 months\nold &amp; the borrower must have a satisfactory EMI repayment track record with\nno EMI bounce for the last 12 months.<\/p>\n\n\n\n<p>Top up interest rate ranges from 8% p.a. \u2013 8.50% p.a.<\/p>\n\n\n\n<p>Know more on<a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/icici-bank-home-loan-top-up\/\"> <\/a><a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/icici-bank-home-loan-top-up\/\"><strong>ICICI Bank home loan top up<\/strong><\/a>. <\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Foreclosure Charges:<\/strong><\/li><\/ul>\n\n\n\n<p>Up-to 4% on the outstanding commercial loan amount. <\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>CIBIL Score: <\/strong><\/li><\/ul>\n\n\n\n<p>Minimum CIBIL score of required is 750 and above.<\/p>\n\n\n\n<p>(<a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/cibil-and-its-significance-in-home-loan\/\"><strong>Understand the significance of CIBIL in home loan<\/strong><\/a> &amp;<a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/know-how-your-home-loan-inquiry-impacts-your-cibil-scores\/\"> <\/a><a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/know-how-your-home-loan-inquiry-impacts-your-cibil-scores\/\"><strong>know how does an home loan inquiry impacts the CIBIL score<\/strong><\/a>.)<\/p>\n\n\n\n<p>Additional\nRead:<a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/how-to-apply-for-home-loan-with-bad-cibil-score-by-loanfasttrack\/\"> <\/a><a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/how-to-apply-for-home-loan-with-bad-cibil-score-by-loanfasttrack\/\"><strong>How To Apply For Home Loan With Bad CIBIL Score \u2013 By\nLoanfasttrack<\/strong><\/a><strong><\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Tax Benefits: <\/strong>&nbsp;The tax rebate on commercial property loan is allowed in the year in which it accrues irrespective of the year in which it has been paid. <br>* <strong>Principal Repayment:<\/strong> No deduction is available under Section 80C for repayment of principal for commercial property loan.<br>* <strong>Interest Paid: <\/strong>The interest deduction is applicable for any loan amount whether borrowed from bank, private financer\/ patpedi or friends or relatives.<br>=&gt; The interest paid on loans taken for construction\/ purchase\/ repairs or reconstruction of the commercial property, can be claimed under section 24 of the Income Tax Act.<br>=&gt; The processing fees and prepayment fee paid for commercial property loans is also treated as interest and can also be claimed under Section 24.<br>=&gt; The borrower can claim tax on the whole interest amount paid. There is no limit for interest deduction on commercial property unless for the rent out commercial property which is up-to the net annual value i.e., the gross rent received p.a. Less municipal taxes paid on the property.<br>=&gt; For under construction builder commercial property &#8211; no interest deduction available for loans taken for repairs\/ renovations \/ reconstruction. However aggregate interest paid during the construction on the purchase\/construction of the commercial property can be claimed in next 5 years on the completion of the construction. <\/li><\/ul>\n\n\n\n<p>(Read <a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/mportant-loan-facts\/\"><strong>important loan facts before purchasing an under construction property<\/strong><\/a>.)<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Commercial Real Estate Loan\nDocumentation Checklist for ICICI Bank<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>KYC: <\/strong>Pan Card, Aadhar Card, Latest Passport size photograph,\nOffice proof &amp; Residence Proof.<\/li><\/ul>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Income Documents:<\/strong><br>* <strong>For Salaried:<\/strong><br>4 months Salary Slips, 6 months Bank Account Statement &amp; 2 years Form 16<br>* <strong>For Self-Employed:<\/strong><br>3 years ITR with Saral Copy, Balance Sheet, P&amp;L Account, Capital Account \u2013 CA certified &amp; 12 months bank account statements of all bank accounts (savings + current account)<\/li><\/ul>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Property Documents:<\/strong><\/li><\/ul>\n\n\n\n<p>Prior Chain of Agreement, OC\/CC + approved plans,\nIndex 2, Share Certificate, Society Registration Copy &amp; Property Tax\nReceipt.<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Additional Documents for<\/strong><a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/home-loan-balance-transfer-lowest-rate-for-6-95p-a\/\"> <\/a><a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/home-loan-balance-transfer-lowest-rate-for-6-95p-a\/\"><strong>Commercial loan transfer<\/strong><\/a><strong>:<\/strong><\/li><\/ul>\n\n\n\n<p>LOD, Outstanding Balance Letter &amp; 18 months\nrepayment track record.<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Other Documents:<\/strong><\/li><\/ul>\n\n\n\n<p>Duly signed ICICI Bank commercial loan application\nform &amp; Processing fee cheque.<\/p>\n\n\n\n<p>Click for detailed documents required for commercial\nproperty loan for <a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/commercial-loan-list-of-documents-for-salaried-customers-resale-case\/\"><strong>salaried resale case<\/strong><\/a>, for <a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/commercial-loan-list-of-documents-for-salaried-customers-builder-case\/\"><strong>salaried builder case<\/strong><\/a>, for <a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/list-of-documents-for-commercial-loan-for-self-employed-proprietorship-firm-builder-case\/\"><strong>self-employed proprietorship firm builder case<\/strong><\/a> \/ <a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/list-of-documents-for-commercial-loan-for-self-employed-proprietorship-firm-resale-case\/\"><strong>resale case<\/strong><\/a>, for <a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/list-of-documents-for-commercial-loan-for-self-employed-partnership-firm-builder-case\/\"><strong>self-employed partnership firm builder case<\/strong><\/a> \/ <a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/list-of-documents-for-commercial-loan-for-self-employed-partnership-firm-resale-case\/\"><strong>resale case<\/strong><\/a>, for <a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/list-of-documents-for-commercial-loan-for-self-employed-private-limited-company-builder-case\/\"><strong>self-employed private limited company builder case<\/strong><\/a> \/ <a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/commercial-loan-list-of-documents-for-self-employed-private-limited-company-resale-purchase\/\"><strong>resale case<\/strong><\/a>. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Apply for other\nloan products of ICICI Bank<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td>\n  <a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/home-loan\/why-apply-home-loan-with-icici-bank-by-loanfasttrack\/\"><strong>Home Loan<\/strong><\/a><strong><\/strong>\n  <\/td><td>\n  <a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/icici-bank-loan-against-property-lap\/\"><strong>Mortgage Loan<\/strong><\/a><strong><\/strong>\n  <\/td><td>\n  <a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/home-loan-balance-transfer-lowest-rate-for-6-95p-a\/\"><strong>Home Loan Balance Transfer<\/strong><\/a><strong><\/strong>\n  <\/td><td>\n  <a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/loan-against-property-balance-transfer-lowest-interest-rates-in-india\/\"><strong>Mortgage Loan Balance Transfer<\/strong><\/a><strong><\/strong>\n  <\/td><td>\n  <a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/icici-bank-home-loan-top-up\/\"><strong>Top Up Loan<\/strong><\/a><strong><\/strong>\n  <\/td><td>\n  <a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/know-all-about-mortgage-overdraft-o-d\/\"><strong>Mortgage Overdraft<\/strong><\/a><strong><\/strong>\n  <\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Commercial\nProperty Loan Interest Rate Comparison Chart of 2020<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td>\n  <a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/why-choose-icici-bank-home-loans\/\"><strong>ICICI\n  Bank<\/strong><\/a><strong><\/strong>\n  <\/td><td>\n  8% p.a.\n  <\/td><td>\n  Up-to 20 years\n  <\/td><\/tr><tr><td>\n  <a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/why-choose-hdfc-ltd-home-loan\/\"><strong>HDFC\n  Ltd.<\/strong><\/a><strong><\/strong>\n  <\/td><td>\n  8.25% p.a. &#8211; 9.75% p.a.\n  <\/td><td>\n  Up-to 15 years\n  <\/td><\/tr><tr><td>\n  <a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/canara-bank-home-loan\/\"><strong>Canara\n  Bank<\/strong><\/a><strong><\/strong>\n  <\/td><td>\n  12% p.a. onwards\n  <\/td><td>\n  Up-to 10 years\n  <\/td><\/tr><tr><td>\n  <a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/axis-bank-home-loan\/\"><strong>Axis\n  Bank<\/strong><\/a><strong><\/strong>\n  <\/td><td>\n  10.50% p.a. onwards\n  <\/td><td>\n  Up-to 20 years\n  <\/td><\/tr><tr><td>\n  <a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/bank-of-india-boi-home-loan\/\"><strong>Bank\n  Of India<\/strong><\/a><strong><\/strong>\n  <\/td><td>\n  10.50%\n  p.a. onwards\n  <\/td><td>\n  Up-to 15 years\n  <\/td><\/tr><tr><td>\n  PNB Housing Finance Limited\n  <\/td><td>\n  9.50% p.a. &#8211; 11% p.a.\n  <\/td><td>\n  Up-to 15 years\n  <\/td><\/tr><tr><td>\n  Bajaj FinServ\n  <\/td><td>\n  10.10% p.a. &#8211; 14.50% p.a.\n  <\/td><td>\n  Up-to 20 years\n  <\/td><\/tr><tr><td>\n  IDBI Bank\n  <\/td><td>\n  10.25% p.a. onwards\n  <\/td><td>\n  Up-to 15 years\n  <\/td><\/tr><tr><td>\n  South Indian Bank\n  <\/td><td>\n  10.05% p.a. &#8211; 10.30% p.a.\n  <\/td><td>\n  Up-to 12 years\n  <\/td><\/tr><tr><td>\n  <a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/home-loan\/kotak-mahindra-bank-home-loan\/\"><strong>Kotak\n  Mahindra Bank<\/strong><\/a>\n  <\/td><td>\n  9.60% onwards\n  <\/td><td>\n  Up-to 15 years\n  <\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>Additional\nRead: <a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/why-home-loan-interest-rates-of-nbfcs-higher-than-banks\/\"><strong>Why interest rates with NBFCs are higher than <\/strong><\/a><a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/why-home-loan-interest-rates-of-nbfcs-higher-than-banks\/\"><strong>rate<\/strong><\/a><a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/why-home-loan-interest-rates-of-nbfcs-higher-than-banks\/\"><strong> of interest with Banks<\/strong><\/a>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Commercial Property Loan\nQuestionnaire:<\/strong><\/h2>\n\n\n\n<p><strong>Q<\/strong>. Is it mandatory to have an ICICI\nBank account to apply for a commercial loan?<\/p>\n\n\n\n<p><strong>Ans<\/strong>:Yes. It is mandatory to have an account with ICICI Bank in order to service\nthe commercial loan EMIs.<\/p>\n\n\n\n<p><strong>Q. <\/strong>What is the commercial property\ninterest rate today?<\/p>\n\n\n\n<p><strong>Ans: <\/strong>ICICI Bank provides the best\ncommercial property loan rates starting from 8% p.a. Onwards. <\/p>\n\n\n\n<p><strong>Q.<\/strong> What is the processing charge for\nICICI bank loan for commercial property?<\/p>\n\n\n\n<p><strong>Ans:<\/strong> ICICI Bank commercial real estate\nfinancing processing fees applicable is 1% of the loan amount plus applicable\nGST.<\/p>\n\n\n\n<p><strong>Q.<\/strong> Is it mandatory to have a\nco-applicant to the loan application?<\/p>\n\n\n\n<p><strong>Ans:<\/strong> Yes. It is mandatory to have a\nco-applicant to the commercial real estate loan application with ICICI Bank.<\/p>\n\n\n\n<p><strong>Q. <\/strong>How much loan can I get on the\nproperty value of Rs.1 Crore?<\/p>\n\n\n\n<p><strong>Ans:<\/strong> Maximum loan funding provided by\nICICI bank is 70% of the market value of the property and therefore maximum\ncommercial property finance that can be availed on a commercial property worth\nRs.1 Crore is Rs.70 Lakhs.<\/p>\n\n\n\n<p>Use <a href=\"https:\/\/www.loanfasttrack.com\/emi-calculator.html\"><strong>Loanfasttrack\u2019s <\/strong><\/a><a href=\"https:\/\/www.loanfasttrack.com\/emi-calculator.html\"><strong>commercial\nproperty loan eligibility calculator<\/strong><\/a> to calculate your loan EMI.<\/p>\n\n\n\n<p><strong>Q. <\/strong>I am an NRI working in London &amp;\ninvesting in a commercial property in India. Can I get a commercial loan?<\/p>\n\n\n\n<p><strong>Ans:<\/strong> Yes. ICICI Bank commercial home loan\nis also available for NRIs. <\/p>\n\n\n\n<p><strong>Q.<\/strong> Is there any limitation on the\nproperty sq. ft. area?<\/p>\n\n\n\n<p><strong>Ans:<\/strong> The minimum sq. ft. area required\nfor commercial property is 200sq.\nft.<\/p>\n\n\n\n<p><strong>Q<\/strong>. How to find a commercial mortgage\nbroker near me?<\/p>\n\n\n\n<p><strong>Ans<\/strong>: Simply visit Loanfasttrack on <a href=\"http:\/\/www.loanfasttrack.com\"><strong><em>www.loanfasttrack.com<\/em><\/strong><\/a>.<\/p>\n\n\n\n<p>You\nmay also email on <a href=\"mailto:info@loanfasttrack.com\"><strong><em>info@loanfasttrack.com<\/em><\/strong><\/a> or call on <strong><em>9321020476<\/em>.<\/strong><\/p>\n\n\n\n<p>Loanfasttrack\nis a Mumbai based loan provider company since 2015 offering loan services in\nMumbai on&#8211; <a href=\"https:\/\/www.loanfasttrack.com\/home-loan\/apply-online-now.html\"><strong>housing loan in\nMumbai<\/strong><\/a>, <a href=\"https:\/\/www.loanfasttrack.com\/mortgage-loan\/apply-online-now.html\"><strong>mortgage loan in\nMumbai<\/strong><\/a>, <a href=\"https:\/\/www.loanfasttrack.com\/personal-loan\/apply-online-now.html\"><strong>personal loan in\nMumbai<\/strong><\/a><a href=\"https:\/\/www.loanfasttrack.com\/personal-loan\/apply-online-now.html\">,<\/a><a href=\"https:\/\/www.loanfasttrack.com\/business-loan\/apply-online-now.html\"> <\/a><a href=\"https:\/\/www.loanfasttrack.com\/business-loan\/apply-online-now.html\"><strong>business Loan in\nMumbai<\/strong><\/a>, <a href=\"https:\/\/www.loanfasttrack.com\/business-loan.html\"><strong>unsecured business loans<\/strong><\/a>,<a href=\"https:\/\/www.loanfasttrack.com\/balance-transfers.html\"><strong>home loan transfe<\/strong><\/a><a href=\"https:\/\/www.loanfasttrack.com\/balance-transfers.html\"><strong>r<\/strong><\/a>, top-up loans and <a href=\"https:\/\/www.loanfasttrack.com\/balance-transfers.html\"><strong>loan transfers<\/strong><\/a>. Loanfasttrack is a direct\nsales associate with leading banks namely, ICICI Bank, HDFC Ltd, Canara Bank,\nCiti Bank, Piramal Housing Finance, etc.<\/p>\n\n\n\n<p>Loanfasttrack\u2019s\nspecialized services includes providing:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>The<a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/best-banks-for-housing-loan-in-india\/\"> <\/a><a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/best-banks-for-housing-loan-in-india\/\"><strong>best bank for home\n<\/strong><\/a><a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/best-banks-for-housing-loan-in-india\/\"><strong>loan<\/strong><\/a><strong>.<\/strong><\/li><li><a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/best-banks-for-mortgage-loan-in-india\/\"><strong>Best Banks For Mortgage Loan In India<\/strong><\/a><strong><\/strong><\/li><li>Assured low interest rates\nfor<a href=\"https:\/\/www.loanfasttrack.com\/mortgage-loan\/apply-online-now.html\"> <\/a><a href=\"https:\/\/www.loanfasttrack.com\/mortgage-loan\/apply-online-now.html\"><strong>loan against\nproperty in Mumbai<\/strong><\/a>.<\/li><li>Lowest<a href=\"https:\/\/www.loanfasttrack.com\/home-loan\/apply-online-now.html\"> <\/a><a href=\"https:\/\/www.loanfasttrack.com\/home-loan\/apply-online-now.html\"><strong>home loan rates in\nMumbai<\/strong><\/a><strong>.<\/strong><\/li><li><a href=\"https:\/\/www.loanfasttrack.com\/personal-loan\/apply-online-now.html\"><strong>Instant loan in\nMumbai<\/strong><\/a><strong>.<\/strong><\/li><li>Instant <a href=\"https:\/\/www.loanfasttrack.com\/personal-loan\/apply-online-now.html\"><strong>personal loan in Mumbai<\/strong><\/a> &amp;<a href=\"https:\/\/www.loanfasttrack.com\/business-loan\/apply-online-now.html\"> <\/a><a href=\"https:\/\/www.loanfasttrack.com\/business-loan\/apply-online-now.html\"><strong>business loan in\nMumbai<\/strong><\/a><\/li><li>Low cost<a href=\"https:\/\/www.loanfasttrack.com\/balance-transfers.html\"> <\/a><a href=\"https:\/\/www.loanfasttrack.com\/balance-transfers.html\"><strong>home loan balance\ntransfer<\/strong><\/a>.<\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Commercial Property Loans @ lowest interest rates with ICICI Bank starting from 8% p.a. with extended loan tenure of up-to 20 years. Introduction: What is Commercial Loan? A loan taken to purchase a commercial property \u2013 office premises, shop, factory, industrial unit, manufacturing unit, gala &amp; commercial plot loan\/ commercial land loan, loan for construction &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[33,2252,2254,2253,2251],"tags":[4801,4822,4818,4843,1741,4796,4782,4874,4849,4773,4772,4788,4776,4794,4760,4725,4887,4834,4791,4761,4836,4894,4857,4845,4812,4842,4792,4851,4732,4881,4781,4784,4758,4905,4733,4763,4798,4806,4830,4756,4814,4914,4912,4868,4770,4827,4787,4809,4886,4815,4838,4805,4789,4893,4870,4866,4797,4752,4757,4837,4779,4908,4835,4873,4883,4892,4795,4876,4816,4783,4981,4793,4751,4909,4762,62,4790,4813,4728,4877,4719,4736,4721,4729,4720,4726,4853,4828,63,4865,4863,4826,4744,4891,4750,4778,4754,4831,4786,4833,4855,4889,4901,4824,4769,4723,4848,4820,4913,4982,4904,4841,4910,4884,4885,4780,4817,4860,4730,4724,1913,4777,4735,4765,4768,4749,4764,4755,4753,4741,4727,4731,4718,4785,4737,4743,4745,4746,4747,4902,4832,4859,4897,4821,4850,4774,4811,4759,4862,4878,4899,4740,4800,4907,4771,4808,4895,4775,4734,4803,4739,4748,4906,4839,4856,4823,4861,4847,4854,4903,4875,4738,4888,4869,4911,4846,4810,4722,4802,4871,4825,4766,4819,4767,4890,4852,4872,4858,4807,4898,4840,4864,4799,4880,4882,4844,4867,4879,4829,4896,4804,4900],"class_list":["post-475","post","type-post","status-publish","format-standard","hentry","category-finance","category-home-loan-finance","category-lease-rental-discounting-finance","category-mortgage-loan-finance","category-personal-loan","tag-100-ltv-commercial-mortgage","tag-apply-for-commercial-mortgage-loan-icici","tag-apply-for-commercial-property-loan-icici","tag-average-ltv-commercial-real-estate","tag-axis-bank-commercial-property-loan-interest-rates","tag-bad-credit-commercial-mortgage","tag-bank-loan-for-commercial-property","tag-bank-loan-for-industrial-property","tag-best-bank-for-commercial-property-loans","tag-best-banks-for-commercial-real-estate-loans","tag-best-commercial-mortgage-lenders","tag-best-commercial-mortgage-loan-interest-rates-in-mumbai","tag-best-commercial-property-loans-in-india","tag-best-commercial-real-estate-lenders","tag-best-commercial-real-estate-loans","tag-bob-commercial-property-loan-interest-rate","tag-borrowing-against-commercial-property","tag-borrowing-for-commercial-property","tag-business-loan-for-commercial-property","tag-business-real-estate-loan","tag-buying-commercial-property-mortgage","tag-cheap-commercial-property-loans","tag-commercial-and-residential-mortgage","tag-commercial-apartment-loan","tag-commercial-bank-house-loan","tag-commercial-building-finance","tag-commercial-building-mortgage","tag-commercial-collateral-loans","tag-commercial-home-loan","tag-commercial-home-mortgage","tag-commercial-housing-loan","tag-commercial-investment-loans","tag-commercial-investment-mortgage","tag-commercial-investment-property-mortgage","tag-commercial-land-loan","tag-commercial-land-loan-icici-bank","tag-commercial-land-loan-lenders","tag-commercial-land-mortgage","tag-commercial-land-purchase-loan","tag-commercial-lap-loan-icici","tag-commercial-loan-for-apartment-building","tag-commercial-loan-for-apartment-complex","tag-commercial-loan-for-land-purchase","tag-commercial-loan-for-nri-in-india","tag-commercial-loan-for-rental-property","tag-commercial-loan-for-residential-investment-property","tag-commercial-loan-for-residential-property","tag-commercial-loan-mortgage","tag-commercial-loan-on-rental-property","tag-commercial-loan-to-buy-property","tag-commercial-loan-to-buy-rental-property","tag-commercial-mortgage-banking","tag-commercial-mortgage-companies","tag-commercial-mortgage-documents","tag-commercial-mortgage-eligibility","tag-commercial-mortgage-for-rental-property","tag-commercial-mortgage-for-residential-property","tag-commercial-mortgage-loan","tag-commercial-mortgage-loan-icici","tag-commercial-mortgage-loan-to-value","tag-commercial-mortgage-ltv","tag-commercial-mortgage-on-leasehold-property","tag-commercial-mortgage-pre-approval","tag-commercial-mortgage-valuation","tag-commercial-mortgages-for-pubs","tag-commercial-office-building-loans","tag-commercial-plot-loan","tag-commercial-plot-purchase-loan","tag-commercial-property-construction-loan","tag-commercial-property-development-loan","tag-commercial-property-emi-calculator","tag-commercial-property-equity-loan","tag-commercial-property-finance","tag-commercial-property-improvement-loan","tag-commercial-property-lending","tag-commercial-property-loan","tag-commercial-property-loan-broker","tag-commercial-property-loan-eligibility","tag-commercial-property-loan-emi-calculator","tag-commercial-property-loan-for-nri","tag-commercial-property-loan-for-salaried-person","tag-commercial-property-loan-icici-bank","tag-commercial-property-loan-interest-rate","tag-commercial-property-loan-interest-rates-icici-bank","tag-commercial-property-loan-interest-rates-in-india","tag-commercial-property-loan-interest-rates-sbi","tag-commercial-property-loan-ltv","tag-commercial-property-loan-percent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