L&T Commercial Property Loan

Commercial property loans (CPLs) are a great way to get quick funding for your business or personal needs. You can use a CPL to start a new business or buy a home. L&T offers flexible terms, competitive rates, and expert guidance. They also prioritize speed and efficiency so you can instantly get the money you need.

L&T Commercial Property Loan Features

• One can secure loans up to Rs 10 crore by financing your commercial property.
• Enjoy flexible terms from 15 to 18 years to align with your plans.
• Access cash within 72 hours.
• Choose tranche-based EMIs or part prepayment options for customized repayments.
• Avail of competitive interest rates, starting at 9.60%, for optimal affordability.

L&T Commercial Property Loan Interest Rates

L&T Commercial property loan rate of interest is as low as 9%, thanks to the security of your real estate. However, your net monthly income determines the final offered rate. To secure the best deal, compare options from multiple lenders, and remember that the advertised starting rate may not apply to everyone. 

L&T Commercial Property Loan Eligibility Criteria

• Indian Citizenship: Applicants must be Indian citizens. 
• Age Requirements: Salaried applicants must be 23-62 years old, and self-employed applicants must be 25-70 years old. 
• Employment Status: Minimum 3 years employment history with current employer for salaried employees and a proven history of business income stability for self-employed individuals. 
• Proof of Income: Latest salary slips and ITRs demonstrating consistent income for salaried employees and audited financials and ITRs for the past 3 years for self-employed individuals. 
• Property Type: Only non-residential commercially zoned properties are eligible. 
• Creditworthiness: A strong credit score and a healthy financial track record are essential.

L&T Commercial Property Loan Benefits and Features

• Get up to 60% of your property’s value, giving your business a powerful financial boost.
• Commercial shop loan interest rates L&T offers attractive interest rates starting at 9%, keeping your finances on track.
• Commercial property loans offer a clear, hassle-free path to funding.
• With custom loan solutions, your financing is designed to match your unique business goals and aspirations.
• Use the funds for anything from expansion to innovation, with no restrictions on the utilization of the loan for your business success.

L&T Commercial Property Loan Documents Required

Ensure you have all the necessary documents ready for a smooth application process for a commercial loan from L&T.

• Proof of Identity: PAN card, Aadhaar card, passport, or voter ID.
• Address Proof: Utility bills, driving license, rental agreement, etc.
• Property Documents: Title deeds, allotment letter, property tax receipts.
• Income Documents: Latest salary slips and IT returns for the past 3 years for salaried employees. Latest bank statements (6 months), ITRs for the past 3 years, and audited financials for self-employed professionals. ITRs and financial statements for the past 3 years for self-employed non-professionals.
• Additional bank statements: for the past 3-6 months.

L&T Commercial Property Loan Processing Fees and Other Charges

There are certain charges involved when taking out a commercial property loan. Expect processing fees of up to 3% of the loan amount. Repayment issues incur bounces and late interest (3% monthly). Prepayment or full closing within 24 months carries charges (up to 4% for fixed, 3% for floating). Duplicate documents and document retrieval come with additional fees. 

L&T Commercial Property Loan For Salaried Person

L&T Commercial Property Loan helps salaried professionals access substantial funding, up to 60% of their property value, for business expansion, investment, or to achieve financial freedom. 

Eligibility:

• Age: 23 to 62 years
• Minimum 3 years of employment history
• Stable income

Documents:

• Latest salary slips and ITRs (3 years)
• Bank statements (3 months)
• PAN card/Form 60
• ID proof
• Address proof
• Property documents

L&T Commercial Property Loan For Self-Employed

Self-employed individuals can secure funding of up to 60% of their property value to fuel expansion, investments, or personal goals.

Eligibility:

• Age: 25 to 70 years
• Proven business income stability
• Strong financial track record

Documents:

• Audited financials and ITRs (3 years)
• Bank statements (6 months)
• PAN card/Form 60
• ID proof
• Address proof
• Property documents

L&T Commercial Property Loan – Terms and Conditions

L&T’s Commercial Property Loan empowers salaried and self-employed individuals with funding up to 60% of their property value. One can enjoy a competitive L&T commercial shop loan interest rate, flexible repayment options, and quick processing. While prepayment charges and processing fees apply, clarity comes with standard KYC documents, income proof, and property papers.