Axis Commercial Property Loan

Running a business can be a lot of work. Finding a suitable location for your next store can be even more difficult. Axis Bank offers loans against properties for residential and commercial properties. With the help of this loan, you purchase the perfect spot for your office. The loan amount starts at Rs. 5 Lakhs, and you can use either residential or commercial property as collateral.

Axis Commercial Property Loan- Highlights

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

Axis Commercial Property Loan Features

Listed below are prominent features of commercial loans from Axis Bank:

• Upto 20 years of loan tenure
• Balance Transfer Facility
• Loans starting from Rs. 5 Lakhs
• Attractive Interest Rates
• Doorstep Service Provider
• Lease Rental Discounting
• Overdraft Facility

Axis Commercial Property Loan Interest Rates

The loan’s interest rate varies from 10.50% p.a. to 10.95% p.a. The bank assigns different interest rates to borrowers based on their creditworthiness. Higher credit scores result in more appealing interest rates. Loan EMIs are greatly affected by interest rates. Hence, it is important to negotiate favourable interest rates when applying for a loan.

Axis Commercial Property Loan Eligibility Criteria

Salaried and self-employed individuals are among those who qualify for a loan against property. Let’s examine the eligibility requirements for an Axis commercial loan in detail.

• Minimum Limit: Rs. 5,00,000
• Maximum Limit: Rs. 5,00,00,000
• 20%-30% margin in case of purchase of commercial property
• 40%-55% margin in case of loan against residential/commercial property

Salaried Individuals:

• Any individual who is in permanent service in the government or a reputed company.

• The applicant should be above 24 of age at the time of loan commencement and up to 65 years at the time of maturity.

Self-Employed Individuals:

• Any individual filing at ITR can apply.
• The applicant should be above 24 of age at the time of loan commencement and up to 65 years at the time of maturity.

Axis Commercial Property Loan Documents Required

The important documents required to apply for an Axis Commercial Property loan are:

• Application Form
• PAN Card
• ID Proof (Passport/ Aadhar Card/ Driving License/ Voter ID)
• Address Proof (GOI Issued Photo ID/ Gas Bill/ Govt. Employee ID/ Electricity Bill/ Telephone Bill)
• DOB Proof
• Proof of Income (Salary Slip/ Bank statement/ 2 Year Form 16/ ITR)
• Signature Proof (Passport/ PAN Card/ Banker’s Verification)

Axis Commercial Property Loan Processing Fees and Other Charges

The fees levied by Axis Bank for Loan Against Property are completely transparent and upfront. Apart from the Axis commercial property loan interest rates, the bank levies the following additional charges:

1. Loan Processing Charges (Rs. 5000 + GST)
2. Penal Interest (24% p.a.)
3. Stamp Duty and Other Statutory Charges (As applicable as the laws of the state)
4. GST as per the applicable rate
5. Other Charges

Axis Commercial Property Loan – T&C

Axis Bank provides secured loans for commercial properties. These loans are granted based on the mortgage of the property with the bank. If a borrower is unable to repay the loan, the bank can utilise the property to recover their losses. Once the loan has been fully repaid, the property is returned to the borrower.

Quick Tip: Carefully review the loan agreement and understand all the terms and conditions before signing.