Scheme Details
Nature of advance
To finance against future rent receivables.
Target Customers
Any customer who is having rental income from property (Residential/ Commercial/ Industrial)
Borrower must be owner of the property rented out.
Purpose of advance
1.      For Personal Purpose
2.      For Business Purpose
(In case of business purpose, proof of investment in business and activity based licenses to be obtained & classification of advance to be made accordingly)
Maximum 84 months
Quantum of Finance
Minimum – Rs. 1.00 Lacs
Maximum – Rs. 100.00 Lacs
Eligible Loan Amount
40 times of monthly rent with 75% of per month rent covering the EMI portion.
Primary Security
Hypothecation of rent receivable.
Collateral Security
Minimum 100% collateral in form of the property from which rental income is generated or any other Property of the borrower or close relative/ NSC/ Gold/ Bank own deposits/ Surrender Value of Life Policy.
Rate of Interest
Upfront Fee
1.00% of the loan amount
EMIs within a maximum tenor of 84 months.
Penal Interest
2% p.a. for the defaulted amount for the defaulted period.