Loan against Rent Receivable

Facility:                       Term Loan

Purpose:                      For Business Needs and/or other genuine personal needs of the owners.

Eligibility:

Individuals, proprietary concerns, partnership firms, private and public limited companies, trusts etc owning the properties including land lords of our premises.

Security:        

Primary: Rent receivable is the primary security.

Collateral security: Property of not less than 200% of the limit.  

Co-Obligant: One co-obligant/guarantor to the satisfaction of the Bank.

Rate of Interest:            11.50% PA

                                         Click here to know more

Loan Limit:                     Maximum Rs.500.00 Lacs

Max Loan period:          120 Months

Basic Documents:                 

» KYC documents of Borrowers and Guarantors.

» Copies of IT returns for last 3 years.

» Registered Lease Deeds.

» Title Deeds of the property offered as security.

» Other Documents As required.

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Repayment:                       Equated Monthly Installments

Interest method:               Diminishing Method

Guarantor :                         Government Employee/ I.T Assessee

Processing Fees:               Nill

Terms & Conditions:         As per Bank’s Loan Policy.