Loan for Professionals in Hyderabad: Loans for Your Office and Practice 🏡
Loan for Professionals
Loan for Professionals , Are you a doctor, engineer, chartered accountant, or another professional in Hyderabad looking to purchase, extend, modify, or renovate a commercial property for your practice? Securing the right financing is the key. This blog post, brought to you by Hyderabad Home Loans, explores tailored loan solutions designed to help you establish and grow your professional practice.
Purpose and Eligibility: What You Need to Know 💼
These loans are specifically designed to help professionals acquire commercial premises for their own practice and purchase necessary equipment.
Eligibility:
- Resident Indian Professionals: The loan is available to individual professionals.
- Companies or Partnership Firms: The loan can also be sanctioned to a company or partnership firm of such professionals.
Loan Terms and Repayment 💰
Understanding the loan structure is crucial for financial planning.
- Loan Term: You can get a loan for up to 15 years, giving you ample time for repayment.
- Repayment Mode: The loan is repaid through Equated Monthly Installments (EMI) on a monthly rest basis, making it a manageable and predictable expense.
Security and Documentation 🔒
The security requirements are straightforward and designed to protect both the borrower and the lender.
- Primary Security: The primary security is an Equitable/Registered Mortgage of the premises for which the loan is raised.
- Additional Security: This includes a Demand Promissory Note and a Personal Guarantee of Directors/Partners, as applicable.
- For Companies: Registration of Charges in the Registrar of Companies (R.O.C.) is also required.
Interest Rates: Floating and Linked to LHPLR 📊
The interest rates are competitive and floating, linked to the LHPLR (LIC Housing Prime Lending Rate). The specific rate depends on the loan amount and your CIBIL credit score.
- For Individuals and Non-Individuals:
- Loan Amount up to ₹5 Crore:
- CIBIL Score ≥ 750: 10.35%
- 750 > CIBIL Score ≥ 700: 10.85%
- Loan Amount above ₹5 Crore & up to ₹15 Crore:
- CIBIL Score ≥ 750: 10.55%
- 750 > CIBIL Score ≥ 700: 11.10%
- Loan Amount up to ₹5 Crore:
Ready to Get Started? Contact Us! 📞
Take the first step toward securing your ideal professional space. As Elite Financial Services, an authorized and appointed Direct Selling Agent (DSA) for LICHFL, we can help you navigate the process and find the perfect loan for your professional needs.
For more information and a personalized consultation, visit our website www.hyderabadhomeloans.com or contact us today.
Elite Financial Services
Phone Number: 8886249998