• Project  Loan
    Project Loan

Project Loan

A type of loans for purchase / construction of commercial property in approved areas. This includes loans for office space, shops.

Advantages of taking Project Loan from SBC Wealth craft

  • High standards of ethics, integrity and transparency
  • Dedicated team of well-experienced employees who work on best-in-class information systems & network to deliver and provide customer satisfaction
  • Door step services ensuring easy and fast approval & disbursal of loans



Eligibility

  • For salaried employees/ self-employed professionals/ non-professionals: Age of the customer should not be more than 50 years at the time of applying for loan.
  • For partnership firms/ corporate bodies: The entity has to be in existence for at least 3 years prior to the date of application

Bank Amount Interest Rate Processing Fees Prepayment Charges Apply

India Bulls

Varries as per customers profile as well as Financial Institute.

PNB Housing Finance Ltd.

Varries as per customers profile as well as Financial Institute.

ICICI

Varries as per customers profile as well as Financial Institute.

HDFC

Varries as per customers profile as well as Financial Institute.

Standard Chartered

Varries as per customers profile as well as Financial Institute.

STATE BANK OF INDIA

Varries as per customers profile as well as Financial Institute.

ING Vysya

Varries as per customers profile as well as Financial Institute.

DHFL

Varries as per customers profile as well as Financial Institute.

Can Fin Homes Ltd

Varries as per customers profile as well as Financial Institute.

GIC Housing Finance Ltd

Varries as per customers profile as well as Financial Institute.

Gruh Finance

Varries as per customers profile as well as Financial Institute.



Document Required

For Self Employed (Private Ltd. Co. and Partnership Firms)

  • PAN Card
  • Address Proof (Ration card Tel/ Electricity Bill/ Lease agreement/ Passport/Trade license /Sales Tax certificate)
  • Bank Statement (latest 6 months bank)
  • Last 2 Years ITRs (computation of income) Balance Sheet and Profit & Loss a/c. Audited or Certified by a CA
  • Proof of continuation (ITR/ Trade license /Establishment /Sales Tax certificate)
  • Sole Proprietor Declaration or Certified Copy of Partnership Deed, Certified true copy of Memorandum & Articles of Association & Board resolution (Original)
  • Certificate & Proof of business existence along with Business Profile
  • Photocopy of Title Documents of the Property, Approved Plan etc.


For Self Employed (Individuals). Include - Sole proprietors, Partners & Directors

  • Proof of Identity (Passport / Voters ID card/ Driving License/PAN Card)
  • Address Proof (Ration card Tel/elect. Bill/ Lease agreement/ Passport/ Trade license /Sales Tax certificate)
  • Bank Statement (latest 6 months)
  • Latest ITR along with computation of income, Balance Sheet & Profit & Loss a/c for the last 2 yrs. Audited or Certified by a CA
  • Proof of continuation (ITR/Trade license /Establishment /Sales Tax certificate)
  • Other Mandatory Documents (Sole Prop. Declaration Or Certified Copy of Partnership Deed, Certified true copy of Memorandum & Articles of Association (certified by Director) & Board resolution (Original)
  • Certificate & Proof of business existence along with Business Profile
  • Photocopy of Title Documents of the Property, Approved Plan etc



Process/Steps

Application :
You will need to fill in a loan application with accurate details, personal and business loan requirement, details of the property intended for Business etc.

Documentation : Along with the application form and the credit documents, you may have to pay a processing fee to the bank. An upfront fee could be collected to maintain your loan account records, sending income tax certificates every year, maintaining post-dated cheques, etc

Investigation :
Next comes the loan Investigation stage, the stage at which the loan process gains actual momentum. This could start with a personal discussion followed by the bank's field investigation.

Valuation and legal check :
Valuation and legal check on property and papers is the next stage where the focus of the bank will shift to the property. Make sure the property papers and the relevant NOCs are in place. The bank's lawyer will check the property papers for their legality. The bank may also send an expert to visit the property. This expert could be a bank employee or an associate with a realty firm.

Sanctioning of the loan :
Loan sanction is the next process in the series. At this stage, the bank has checked your financial credentials based on criteria such as your income, Turnover, age, qualifications, experience, employer, nature of business, etc. They work out the maximum loan eligibility, and an indicative loan amount that the bank is willing to offer.

Disbursement : Once the bank has ascertained all that it needs to be assured of you as a client, the property as a security and your repayment capacity, it will disburse the loan. The bank stipulates that the loan should not be utilized in speculative activities.
For commercial property under construction, the loan amount will be disbursed in stages based on the progress of construction

Application Form

Required *