Features of Commercial Loan
The minimum amount that can be from Commercial Property Loan is Rs 2 lakh and there is no maximum limit on the same.
The borrower is at liberty to choose from fixed or floating rate of interest according to oneâ€™s requirements. There is flexibility in choosing the interest.
The tenure of the repayment offered by various banks on Commercial Purchase Loan is normally up to 10 to15 years. When the cash flow is not regular and active this favourable feature of loan proves to be very lucrative.
The rate of interest on Commercial Purchase Loan is generally lower as compared to personal loan. It ranges from 11 % - 14 % per annum.