Indiabulls Commercial Credit Ltd. (IBCCL), incorporated in 2006, is a wholly owned subsidiary of Indiabulls Housing Finance Ltd. (IBHFL) and is classified as a Non-Deposit taking Systematically Important (ND-SI) Non-Banking Financial Company (NBFC).
IBCCL with strong parental support has considerable expertise in mortgage based financing. SME loans, that IBCCL and IBHFL underwrite are in the lowest risk segment where loans are given out to small businesses. IBCCL emphasizes on self-occupied residential properties for collateral, appraising loans which are verified as per cash-flow; and most importantly, loans meant for productive business deployment which has to be demonstrated at the time of loan appraisal – all of which is aimed to help small business owners further their business plans.
At an operational level, although IBHFL and IBCCL operate separately, IBCCL being a wholly owned subsidiary of IBHFL enjoys the facilities and expertise of the consolidated entity, thus giving IBCCL the benefit of strong business processes, the expertise of business personnel, robust underwriting procedures and a prudent risk management approach of the parent IBHFL.
IBCCL enjoys a comfortable capital position as its capital adequacy stands at 41.36% as of Jun’ 16. These high capital levels afford substantial operational leverage. This also signifies the confidence that the management has placed on IBCCL as a critical subsidiary for IBHFL.
|Processing Fees||1% of Loan Amount against Residential Property
1.5% of Loan Amount against Residential Property
|NACH Dishonor Charges||
Rs 250/- (Home Loans)
Rs 750/- (non-Home Loans)
Nil on Representation of NACH
|Late Payment Charges||24% per Annum of Outstanding EMI|
|NACH Bank Swapping Charges||Nil|
|Retrieval charges for Copies of loan /property document in IB custody||Emailing of Scan Copies: NIL
Physical copies with IB attestation: Rs 500/-
|Charges for Physical Statement Of Account / Amortization Schedule.||
Emailing of Soft Copy by Customer Service Teams : NIL
Hard copies : Rs 200/-
|Registration Charges for Borrowers’ECS Mandate (loan repayment)||NIL|
|Interest Certificate in non-Home Loans,
Income Tax Certificate in Home Loans
|Legal Opinion Charges , SRO Search Charges, ROC Search Charges ,Non-Encumbrance Certificate from SRO charges||NIL, included in the Processing fee|
|Technical Valuation charges||Nil , included in the Processing Fee|
Charges for Certified True Copies of Title Deeds from SRO , if applicable. e.g.
-Where it is required to re- vet the laminated deeds.
-Where N-1 is missing and we want to get a copy from SRO
-Where there us some correction in deed and same is to be checked with SRO records
The CTC to be retrieved by our panel lawyer
|As per Actual|
|Stamping charges of loan Agreement||
Actual, subject to state laws
- where fixed charges irrespective of loan amount: provided by IB
- where ad-valorem charges as a function of loan amount: to be procured by borrower directly
|Stamping charges of other legal documents like Indemnity Bond, Legal Undertakings, Legal Affidavits, Personal Guarantee Bond, Power of Attorney for NRI Home Loans etc||As per Actual, subject to state laws – to be procured by borrower directly|
Original property documents retrieval for specific activity like production at SRO or Development Authority:
- only where on borrower request
- approval from L6 with scan of borrowers’ request letter stating the reasons for such request (the request letter is a very important document and should be on record to OPS as this is the alibi for document retrieval)
- deposit of fees by borrower in advance at branch to OPS
- OPS to initiate retrieval only post confirmation of payment and approval
- fees to be paid upfront not applicable on seller BT where we are charging separately for seller BT transaction to the buyer
- these are not very common requests, but we do get few requests occasionally and there is a huge risk involved in retrieving property documents, sending them to branch, routing the documents to our vendors who charge us for it etc
|Service Tax on all fees, as applicable|
Partnering you in your aspirations
Aspirations to continually grow/expand one's business are what define most businessmen. The importance of realizing these aspirations and actually making progress is integral to many a business. At Indiabulls Commercial Credit, our commitment has always been towards easing the path to success for our customers. Committed to ease this path, Indiabulls Loan Against Property (LAP), a mortgage loan, will take care of your financial needs while you can direct all your attention towards your business. Helping you leverage the value of your residential/commercial property, we will ensure that your enterprise does not feel the crunch of working capital which paralyses many a stable business.
At Indiabulls Commercial Credit, we provide you LAP with maximum finance against the market value of your property. You can continue to occupy the property while we fund you for the healthy growth of your business. We ensure quick approvals and disbursals, safe documentation (ISO certified process) and doorstep service for loans for desired end use. Small and mid-sized businesses, partnership firms, self-employed professionals and private or closely held companies are eligible for LAP.
Indiabulls Commercial Credit provides Loans against Property with maximum finance against the market value of your property. Avail Loans against Property for –
Some of our salient features are featured below:
When you avail a Loan Against Property from Indiabulls Commercial Credit, the following advantages also come your way:
You can generate funds by unlocking the property value along with the benefit of staying in your own home You can tend to your need for immediate personal expenses like: New Business funding or Business Expansion etc. Indiabulls LAP has reasonable interest rates to accommodate your emergencies
# The final rate Of Interest will depend upon Profile , Loan amount , tenor and property type.
Pre-approved Top-Up Loan to Business Enterprises and MSMEs
Background and Objective
The outbreak of Covid-19 pandemic and following event of social and economic lockdown has brought about a nearly complete halt to all the business activities. The operating cycle in many businesses witnessed sudden cessation as the stocks and payment cycles got stuck completely causing liquidity crisis posing a serious threat to the survival of the businesses.
In its fight to control further damage and support the revival of the business and the economy, the GOI through Ministry of Finance has introduced the Emergency Credit Line Guarantee Scheme (ECLGS), through which the Government is targeting to facilitate Business Enterprises /MSMEs / Individuals who have availed loan for business purposes through Banks and NBFCs/HFCs to provide additional credit to existing borrowers, thereby enabling these enterprises and MSMEs to meet their operational liabilities and restart their businesses.
This policy shall be applicable to all existing borrowers meeting the policy riders as elaborated hereunder and will have Four components i.e. ECLGS 1.0 , ECLGS 2.0, ECLGS 3.0 and ECLGS 4.0.
None of the credit facilities availed by the entity from any of the bank or FI should be over 60 days past due as on February 29, 2020 in ECLGS 1.0 , 2.0 & 3.0 and should not be over 90 days past due as on March 31, 2021 in ECLGS 4.0.
Key highlights of policy
For detailed guidelines and FAQs on ECLGS, Visit https://www.eclgs.com/
This facility is being offered to the eligible borrowers within the scheme guidelines.
Borrower will have to apply for loan through appropriate mode and complete the documentation and furnish the requisite information for processing of the loan.
ICCL will review the application submitted by the interested borrowers and appraise the application keeping in view, inter alia, the credit & risk parameters of the borrower and any other related factors and take the decision accordingly.
The final decision or loan amount and terms of loan may vary, after due appraisal, diligence and verifications.
|Contact details of Compliance Officer|
|Compliance Officer||Ajit Kumar Singh (Company Secretary)|
|Contact details of Debenture Trustee|
|Name of Debenture Trustee:||IDBI Trusteeship Services Limited|
|Name of Contact Person:||Mr. Krishnakant Sharma|
|Address:||Asian Building, Ground Floor,
17, R. Kamani Marg, Ballad Estate,
Mumbai 400001 (Maharashtra)
|Contact No:||+91 9910664524 /+91 22 40807005|
SMS 'LAP' to 56677
Indiabulls Finance Center,
Tower 1, Senapati Bapat Marg,
Contact No: 022-61891000
Mumbai - 400 013
M-62 & M-63, First Floor,
New Delhi – 110 001,
Contact No: 011-30252900
Indiabulls House, Plot No. 448-451,
Udyog Vihar, Phase - V,
Sector 19, Gurgaon, Haryana 122001
Phone No: 1800572777(toll free)