REAL ESTATE LOAN

BDB Commercial Real Estate LOAN program provides financing for construction, acquisition and refinance of commercial properties, as well as financing for residential development BOTH FOR REGISTERED FIRM AND INDIVIDUALS.

Loan against owner – occupied, commercial and real estate investor mortgage to acquire new land and land development, construction, improvements can be rewarded by the overdraft, term loan, working capital and SME's loans in case of registered firm and term and overdraft in case of individual investors.

Highlights

• Moratorium period upto 6 months in case of construction and land development.
• Loan Amount – 500,000 – 7, 500,000
• Flexible repayment terms that meet your needs and ability to repay.
• Documentation Fee – 1% of the approved limit.
• Loan annual fee – waived for the first year. 1% after 2 nd year onwards to be charged in the first month of the calendar.
• As you repay the balance, that money becomes available again to use.
• Issue cheque at anytime for any amount up to the approved credit limit.
• The client can access his credit whenever he needs it. As long as he makes the minimum monthly interest payment, he can repay the loan principal as he wishes. No matter how much credit he has, he only pays interest on the amount utilized.
• Schedule monthly payments to be made automatically to his Real Estate Loan from his current account.
• No application fee.

Security Arrangement

Mandatory
First Legal Mortgage on freehold property (land + building) valued by the Bank's approved valuator with extended value not less than the 125% of finance amount. Property being mortgaged must have a motorable access. 100% might be considered if it is a special case for example if there is additional collateral etc.

Desirable
Personal/corporate guarantee of individual/company acceptable to us.

Insurance
Property being mortgaged should be insured against fire, earthquake, flood, terrorism etc. with the banker's clause.