Personal Loan
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CENT SHOP

Nature of facility

  • Term Loan

Purpose

  • For purchase/ construction of New/ Old shops/ offices building and/or
  • Repair/Modernisation/ Renovation/ Face lifting of existing shops/office building
  • Expansion/ Addition/ Alteration in Shops/office buildings
  • Shop for Dealers Showroom etc.
  • Shop for Training centers, service centers etc.
  • Shop for Repair center/ garage etc
  • Office chamber for Consultant/ Chartered Accountants and other professionals/ Self Employed,
  • All furniture/ fixtures- electrical fittings and other accessories required for the showroom/ office shops

Applicability of Scheme

  • For Shops/ Offices/ Service centers in commercial area having marketable title. Professionals and self-employed category may include Doctors, Engineers, Surveyors, CAs, CSs, Lawyers, Interior decorators, consultants, garages, workshops, boutiques and others.

Quantum of Loan

  • 75% of the cost of purchase (the cost of Stamp Duty & Registration Charges are not to be financed.)
  • Minimum loan Amount for purchase/ construction of New/ Old shops/ offices building: Rs. 5 lacs
  • Minimum loan Amount for Repair/ Modernisation/ Renovation/ Face lifting of existing shops/ office building including Expansion/ Addition/ Alteration in Shops/office buildings including and for all furniture/ fixtures- electrical fittings and other accessories required for the showroom/ office shops: Rs. 5 lacs.
  • Maximum loan Amount: Rs. 2 Crores

Margin

  • 25%

Rate of interest

Repayment Period

ROI

Upto 3 years

MCLR + 2.25%

Above 3 years & upto 5 years

MCLR + 2.50

Above 5 years & upto 7 years

MCLR + 2.75

Above 7 years

MCLR + 3.00

Security

  • Mortgage of shop
  • Hypothecation of other assets including facelift, furniture, fixtures etc. purchased out of Bank's finance.
  • Shop under hire purchase scheme cannot be financed this scheme.
  • The residual life of shop/building should be atleast 10 years more than the loan tenure which will be obtained through valuation report. The shop / building should not be declared dangerous.
  • Lease hold property can be financed if The permanent lease of 30 years of more from Government/ Government institutions/development authorities, the following aspects to be considered while sanctioning loan.

Repayment

  • Maximum loan tenure of 10 years with maximum moratorium period
  • Repayment in EMI.

Processing Charges

  • 0.50% of the loan amount with maximum of Rs. 1 lac plus applicable service taxes.

Guarantee

  • Personal Guarantee of the person/ persons having net worth more than amount of loan applied after deducting existing liability .
  • In case of loan to firm/company, personal guarantee of partners/ directors as the case may be, should be taken.

Insurance

  • The shop should be insured against fire, riots wherever required and also against other appropriate hazards, such as earthquake, flood, lightning etc. with the usual Bank clause for full value of the property.

Documents

  • self-attested photocopy of KYC documents of borrowers/guarantors
  • Latest I.T.Return/ I.T.assessment Order of borrowers/guarantors
  • CST/VAT returns AND audited Balance sheets/P&L a/cs of borrowers
  • Valuation certificate from the approved valuer confirming age of shop and remaining life of in case of existing shop .
  • The approved plan of Construction.
  • Architects/Engineers Certificate confirming cost of construction / cost of repairs / Cost of improvements / cost of Extension.
  • Registered agreement to Sale/purchase the shop with link title deeds.
  • All other papers relating to title deeds of property.
  • NOC from society/builder/seller /Lessor to Bank for sanctioning the loan for purchase of shop by applicant.
  • Undertaking by society/Lessor to register bank's lien on shop/share certificate.
  • Agreement for construction with Builder/Developer
Loan type Forms
Application Form 1 for Loan of Rs.5 Crore to Rs.15 Crore Download Word Document Format
Download PDF Format
Application Form 2 for Loan of Rs.15 Crore to Rs.40 Crore Download Word Document Format
Download PDF Format
Application Form 3 for Loan of Rs.40 Crore and above Download Word Document Format
Download PDF Format
Standardised Common Loan Application Form for Agriculture Credit Download PDF Document Form
Common Application Form (Required for all loan schemes). Download Word Document Format
Download PDF Format
Cent Buy Download Word Document Format
Download PDF Format
Cent Computer Download Word Document Format
Download PDF Format
Cent Liquid Download Word Document Format
Download PDF Format
Cent Mortgage Download Word Document Format
Download PDF Format
Cent Trade Download Word Document Format
Download PDF Format
Cent Vyapari Download Word Document Format
Download PDF Format
Housing Loan Application Download Word Document Format
Download PDF Format
Cent Home Loan Plus Download Word Document Format
Download PDF Format
Cent Suvidha Download Word Document Format
Download PDF Format
Cent Vehicle Download Word Document Format
Download PDF Format
Cent Vidyarthi Download Word Document Format
Download PDF Format
Cent School Download Word Document Format
Download PDF Format
Teacher's Loan Download Word Document Format
Download PDF Format
Cent Rental Download Word Document Format
Download Word Document Format
Download PDF Format
Download PDF Format
Cent Doctor Download Word Document Format
Download PDF Format
Cent Swabhiman Download Word Document Format
Download PDF Format
Personal Loan for Pensioners Download Word Document Format
Download PDF Format
Personal Loan to Employees of Corporate Sector Download Word Document Format
Download PDF Format
Personal Loan to Employees of Non-Corporate Sector Download Word Document Format
Download PDF Format
Loan to LIC Agents Download Word Document Format
Download PDF Format
Loan to MSEs Download PDF Format
Cent Sahyog (form for upto 10 lakhs) Download PDF Format
Cent Sahyog (form for above 10 lakhs) Download PDF Format
Application for Agricultural Loans Download PDF Format

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