Loan against Rent Receivables
If you own a commercial property in any prominent locality, enjoy the benefit of future rentals today itself. We are at your assistance offering loan against rent receivables
- How to apply ?
- Documents Required
- Repayment options
- Rates and Fees
- Competitive interest rate
- Lower Margin required at 10% on the discounted value of net rent receivables
- Higher loan eligibility -maximum at Rs.20 Cr and tenor up to 120 months
- Flexibility in repayment mode
- Eligible for Individuals/Firm/Company or any legal entity having assured rental/service/maintenance income from reputed Companies/Institutions/PSUs/Established Organizations including partnership firms/ Multinationals/ Other legal commercial entities.
- Convenient types of loans- Demand loan, TL or OD with diminishing DP
To avail the loan, you can choose any of these:
- Proof of Identity (Passport / Voters ID card/ Driving License/PAN Card)
- Address Proof (Ration card Tel/ Electricity Bill/ Lease agreement/ Passport/Trade license /Sales Tax certificate)
- Bank Statement (latest 6 months bank)
- Last 2 Years ITRs (computation of income), audited Balance Sheet and Profit & Loss a/c
- Proof of continuation (ITR/ Trade license /Establishment /Sales Tax certificate)
- Copy of registered lease agreement/maintenance/Service agreements duly executed and acknowledged by lessor and lessee. (Original agreement shall be obtained and verified)
- Copy of tax paid to local bodies/Tax assessment order, wherever applicable.
- Any other document on a case to case basis.
Repayment of the loan is made as Equal Monthly Instalments/EMI/Graded.
- Please visit the Interest Rates page for details