You want to apply for a Construction Builders Loan you need to fill the application form through an online website or visited a near branch. Then you have to submit all necessary documents and wait for approval.
Construction Builders @10.00% Onwards
• Get loan upto 80% of property market value
• Avail Construction loan for builders at competitive rates
• Flexible tenure facility
• Avail Construction loan for builders at competitive rates
• Flexible tenure facility
Feel free to use our Our Finance Calculator
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Calculator Disclaimer
The repayment amount shown using this calculator is an estimate, based on information you have provided. It is provided for illustrative purposes only and actual repayment amounts may vary. To find out actual repayment amounts, contact us. This calculation does not constitute a quote, loan approval, agreement or advice by My Finance. It does not take into account your personal or financial circumstances.
Eligibility Criteria
What you mean by Construction builders Eligibility Criteria?
Generally, Construction loan for builders is done on projected cash flow. The Bank generally considers the Builders as large or small, depending on the area of construction undertaken by the builder.
Construction builders Eligibility Criteria
There are few eligibility criteria you are required to have a look before applying for loan
- • Applicant should be in-between 25 –65 years
- • DSRA equivalent to 3 months instalments & interest to be built up during moratorium period
- • Appointment of Lenders Independent Engineer (LIE)
- • Must have good credit history
- • Applicant must be resident of India
Note: – This facility covers 75% of project cost, you can get minimum 5 Cr to 100 Cr as a maximum loan amount.
What are the factors generally affecting Construction builders Eligibility Criteria?
There are Top factors that generally affects Construction builders Eligibility Criteria as given below-
Unstable business: – Business is all about up & downs, but when the idea of availing loan emerge, Lender will check your business stability to determines repayment capacity & due to lack of stability in business recent loss may led to badly hit your eligibility.
Low credit rating: – A high Credit rating helps you to get benefits of negotiating interest & easy approval of loan & credit, wherein a low rating makes it hard to get a loan as repayment level seems high risky.
What are the ways to increase Construction builders’ eligibility?
To increase Construction builders’ eligibility, you need to consider points as given below, this will aid you in increasing your eligibility level.
Well business plan: – Usually for any project funding a well thought business plan requires to estimate the funding prospect, used equipment & technology, finally a revenue generation plan. Strong business plan will definitely going to boost your eligibility.
Maintain good credit: – Pay your loan EMI, bills on regular basis to avoid any kind of score affect in credit. If you are looking to close old credit cards, avoid doing that, as it can help you increasing credit limit as well as loan eligibility.
Documents Required
- PAN CARD COPY
- AADHAR CARD + PASSPORT
- ADDRESS PROOF IF RENTED ALSO REQUIRED PERMANENT ADDRESS PROOF
- LAST 3 YEARS FORM -16, ITR WITH COMPUTATION OF INCOME IF FILE
- LAST 1 YEAR BANK STATEMENT – SALARY ACCOUNT
- LOAN SCHEDULE & SANCTION LETTER (IF RUNNING)
- COMPLETE PROPERTY PAPERS WITH CHAIN & MAP +ATS
- PROCESSING FEE CHEQUE IN FAVOUR OF BANK
- PROJECTED FINANCIAL
- PROJECT FEASIBILITY REPORT
- COMPANY PROFILE & MANAGEMENT PROFILE
- ISO CERTIFICATE & MSME CERTIFICATE
- POLLUTION CERTIFICATE
- CMA DATA
- MACHINE QUOTATION
- BUILDING CONSTRUCTION ESTIMATE
- LAST 3 MONTHS SALARY SLIP + APPOINTMENT LETTER
- PHOTOGRAPH BOTH
- PAN CARD CLEAR COPY PROPRIETOR
- ADDRESS PROOF (PASS PORT, VOTER ID CARD) PROPRIETOR
- OFFICE ADDRESS PROOF LATEST (ELECTRICITY BILL, TELEPHONE BILL)
- FIRM REGISTRATION CERTIFICATES & GST REGISTRATION COPY
- LAST 1 YEAR GST RETURN COPY
- FIRM 3 YEARS ITR COMPUTATION, PROFIT LOSS A/C, BALANCE-SHEET, TAX AUDIT REPORT, ALL SCHEDULED & ANNEXURE
- PROVISIONAL FINANCIAL AY 2019-20
- BANK ACCOUNTS (CURRENT ACCOUNT, CC ACCOUNT, OD ACCOUNT LAST 1 YEAR UPDATED)
- 6 MONTH SAVING ACCOUNT STATEMENT UPDATED (PROPRIETOR)
- IF RUNNING ANY LOAN PLEASE PROVIDE SANCTION LETTER AND REPAYMENT SCHEDULED
- AGREEMENT TO SELL COPY
- PROPERTY PAPERS WITH CHAIN SANCTION MAP
- PROJECTED FINANCIAL
- PROJECT FEASIBILITY REPORT
- COMPANY PROFILE & MANAGEMENT PROFILE
- ISO CERTIFICATE & MSME CERTIFICATE
- POLLUTION CERTIFICATE
- CMA DATA
- MACHINE QUOTATION
- BUILDING CONSTRUCTION ESTIMATE
- PHOTOGRAPH PARTNERS
- PAN CARD – COMPANY, ALL PARTNERS
- ADDRESS PROOF – ALL PARTNERS (PASS PORT, VOTER I PAN CARD, ADHAAR)
- FIRM ADDRESS PROOF- LATEST ANY UTILITY BILL.
- PARTNERSHIP DEED COPY
- GST CERTIFICATE
- GST RETURN LAST 1 YEARS
- 3 YEAR COMPANY ITR COI P/L A/C BALANCESHEET + AUDIT REPORT 3CB 3CD, ALL ANNEXXURS, SCHEDULED WITH C.A.CERTIFIED.
- PROVISIONAL FINANCIAL AY 2019-20
- 3 YEAR.ALL PARTNER INDIVIDUALS ITR + COMPUTATION
- FIRM ALL A/C BANK STATEMENT 1 YEAR UPDATED
- ALL PARTNER SAVING A/C STATEMENT 6 MONTH
- IF RUNNING ANY LOAN – LATEST SANCTION LETTER + TRACK RECORDS OR REPAYMENT SCHEDULED
- AGREEMENT TO SELL COPY
- PROPERTY PAPERS COMPLETE CHAIN WITH MAP
- PROJECTED FINANCIAL
- PROJECT FEASIBILITY REPORT
- COMPANY PROFILE & MANAGEMENT PROFILE
- ISO CERTIFICATE & MSME CERTIFICATE
- POLLUTION CETIFICATE
- CMA DATA
- MACHINE QUOTATION
- BUILDING ONSTRUCTION ESTIMATE
- ALL DIRECTORS PHOTOGRAPH
- CLEAR PAN CARD – COMPANY AND ALL DIRECTORS.
- ADDRESS PROOF – COMPANY AND DIRECTORS
- LIST OF DIRECTOR& SHARE HOLDER WITH CA CERTIFIED AS ON DATE
- MEMORANDOM ORDER IN HAND AND COMPLETE COPY (IF APPLICABLE)
- GST, SALE, VAT AND SSI REGISTRATION CERTIFICATE
- 1 YEAR GST RETURNS
- ALL DIRECTORS INDIVIDUALS ITR & COMPUTATION LAST 3 YEARS
- LAST 3 YEARS COMPLETE FINANCIAL WITH TAX AUDIT REPORT AND ANNEXURE
- PROVISIONAL FINANCIAL FY 2019-20 OR MONTH WISE SALE FIGURE LAST 1 YEAR
- COMPANY ALL BANK ACCOUNT STATEMENT 1 YEAR UPDATED
- ALL DIRECTORS SAVING A/C STATEMENT 6 MONTH
- IF RUNNING ANY LOAN – LATEST SANCTION LETTER AND REPAYMENT SCHEDULED
- AGREEMENT TO SELL COPY
- PROPERTY PAPERS COMPLETE CHAIN WITH SANCTION MAP
- PROJECTED FEASIBILITY REPORT
- COMPANY PROFILE & MSME CERTIFICATE
- POLLUTION CERTIFICATE
- CMA DATA
- MACHINE QUOTATION
- BUILDING CONSTRUCATION ESTIMATE
Frequently Asked Questions
The Construction Builders Loan are provided for builders whose work is to build or repair houses and other buildings.
The Construction Builders Loan eligibility criteria’s is given below: —
- Applicant should be in-between 25 –65 years and must be resident in India
- DSRA equivalent to 3 months instalments & interest to be built up during moratorium period
- Appointment of Lenders Independent Engineer (LIE)
- They Must have good credit history.
The main purpose of Construction Builders Loan is developed builders and constructing the houses and buildings.
Almost all Government banks provide Construction Builders Loan at low Interest Rate.
If, you have low cibil score the you can’t take construction builders loan. Your cibil score should be above 750 then only you can apply for Construction Builders Loan.
Most of Private, Government Banks & NBFC’s offer this facility for competitive rates with tenure period for repayment from 12 months to 60 months.
