Shop Loans
Loans for purchase of Commercial Property
Grow your business with an easy shop loan from HomeFirst.
Why is HomeFirst shop loan a good idea for your business?
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Loans at your convenience
Our relationship managers visit you, at your convenience, for meetings. Say goodbye to unnecessary trips and paperwork.
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Fast approval
Get your loan approval in 48 hours!
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Mobility Solutions
Through our customer mobile application "HomeFirst Customer Portal" - we enabled quick & transparent loan related transactions.
Interest Rates
| Floating | Login Fees | |
|---|---|---|
| Minimum | Maximum | |
| 8.00% | 22.00% | Rs 2,500 + GST* |
Additional fees such as stamp duty, e-filing charges, CERSAI filing charges, and other statutory dues applicable on the Memorandum of Equitable Mortgage may vary depending on the location and will be charged in addition to processing fees.
*GST @ 18.00%
Eligibility
Loans are available to all individuals, regardless of their income. Find your eligibility with our handy calculator.
Calculate my eligibility
FAQ’s
Shop loans are special loans intended to assist you set up a space for your business. You can use a shop loan to buy, build, or renovate your place of business, and you don’t even require income proof to apply.
You can get up to 70% of the agreement value as a loan.
There is no special eligibility criteria for shop loans, and we assess each individual applicant based on the merit of their application. If you would like to check what loan amount you can avail of with a shop loan, try our handy eligibility calculator here.
To avail of a shop loan, you would need to provide us with a prescribed set of documentation. You can find the full list here.
The interest rates are published on the shop loan product page. We process shop loans like our home loans, and thus interest is determined based on analysis of your application, and will be discussed with you in detail at the time of your loan approval.
No, HomeFirst does not require assets as security against any of our loans.
EMI are calculated at the time of loan processing, and comprise a portion of the principal and interest payable on the loan. EMIs are deducted from your account every month for the tenure of the loan.
While it is not mandatory to insure the property from a loan standpoint, we highly recommend that you do so anyway. We hope our customers never face any distress, but believe in safeguarding oneselves in the case of unforeseen events.
Yes, we allow multiple co-applicants to apply for shop loans together.
Loans for commercial properties are generally not eligible for tax benefits under Section 80C, as this pertains to individual income. There may be other avenues to save on tax, details about which are best gotten from a qualified business tax consultant
They put everything together for us, and helped us every step of the way. I feel quite comfortable as a customer, as there is one point of contact I can always go back to.