- Processing fee
- Late payment fee
- Foreclosure Charges
- Pre-payment charges
Industrial Property Loan @7% Onwards
• Loan at low-interest rate
• Flexible tenure facility
Calculator InformationThe Equipment Finance Calculator calculates the type of repayment required, at the frequency requested, in respect of the loan parameters entered, namely amount, term and interest rate. The Product selected determines the default interest rate for personal loan product. The Equipment Finance Calculator also calculates the time saved to pay off the loan and the amount of interest saved based on an additional input from the customer. This is if repayments are increased by the entered amount of extra contribution per repayment period. This feature is only enabled for the products that support an extra repayment. The calculations are done at the repayment frequency entered, in respect of the original loan parameters entered, namely amount, annual interest rate and term in years.
Length of MonthAll months are assumed to be of equal length. In reality, many loans accrue on a daily basis leading to a varying number of days interest dependent on the number of days in the particular month.
Number of Weeks or Fortnights in a YearOne year is assumed to contain exactly 52 weeks or 26 fortnights. This implicitly assumes that a year has 364 days rather than the actual 365 or 366.
Rounding of Amount of Each RepaymentIn practice, repayments are rounded to at least the nearer cent. However the calculator uses the unrounded repayment to derive the amount of interest payable at points along the graph and in total over the full term of the loan. This assumption allows for a smooth graph and equal repayment amounts. Note that the final repayment after the increase in repayment amount.
Rounding of Time SavedThe time saved is presented as a number of years and months, fortnights or weeks, based on the repayment frequency selected. It assumes the potential partial last repayment when calculating the savings.
Amount of Interest SavedThis amount can only be approximated from the amount of time saved and based on the original loan details.
Calculator DisclaimerThe results from this calculator should be used as an indication only. Results do not represent either quotes or pre-qualifications for the product. Individual institutions apply different formulas. Information such as interest rates quoted and default figures used in the assumptions are subject to change.
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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.
What you mean by Industrial property loan Eligibility Criteria?
Are you in search of Industrial property for you new or existing business, firstly check eligibility requirements are matching or not, if not then try to match it earlier before proceeding further.
Industrial property loan Eligibility Criteria
Usually, Industrial property loan Eligibility Criteria depends on various factors like age of applicant, monthly salary or business income of co-applicant & residency..etc.
- • Age Limit of Individuals –22 to 65 years of age
- • Good financial statement
- • 700 above Credit score
- • Nationality – Resident of Indian
Note: – You can avail 70% – 90% of industrial property value as a loan amount.
What are the factors generally affecting Industrial property loan Eligibility Criteria?
There are Top factors that generally affects Industrial property loan Eligibility Criteria as given below: –
Low Credit Score: – If you have existing loan then try to close it first, as it affects your Credit score if you ever paid late EMI or not yet paid repayment.
Applicant Age: – As stated above in eligibility criteria that there is a specific age limitation for applying loan, therefore if you were unable to meet the requirements to fall to get loan.
What are the ways to increase Industrial property loan eligibility?
To increase Industrial property loan eligibility, you need to consider Top points as given below, this will aid you in increasing your eligibility level.
Add Earning family member as co-applicant: – To increase your eligibility you can add up any of your earning family member as a co-applicant as it will help you to improve your eligibility.
Credit Score above 750: – A good credit score helps you to increase your eligibility upon loan, credit score above 750 known to be great score which will definitely aid to get loan approval.
Good financial record: – Make sure that you maintain a good financial record in terms of availing loan, as with a bad financial record your eligibility level become lower .
- 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
- 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
- PAN CARD – COMPANY, ALL PARTNERS
- ADDRESS PROOF – ALL PARTNERS (PASS PORT, VOTER I PAN CARD, ADHAAR)
- 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
Frequently Asked Questions
When you have a shortage of finance, off course you opt for loan & that won’t be a bad thing since it’s the ideal way to get finance.
Self-employed who have 3+ years of an existing business can avail loan.
Calculate EMI for better financial planning, you need to enter loan amount, Interest Rate & tenure period so that it can predict overall chart.
oan for Industrial Property Rates starting from @ 7.50 onwards.
- KYC Documents of identity proof & residential proof
- Income proof
- Bank statement
- Property documents
- Loan at competitive Interest Rates
- Required minimal documentation
- Simplified document processing
- Flexible tenure facility
- Doorstep assistance available
Calculating EMI is much simpler because of auto-calculation it lessen your time, just you need to enter loan amount, Interest Rate & tenure period that all is required for calculating within a few second it present a scheduled chart containing monthly EMI & remaining principal amount.