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Purpose
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To meet personal and business needs.
Purpose should not be for hoarding, speculation or activity restricted by GOI or State Governments or local bodies.
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Target Customers
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Individuals, Partnership Firms, Pvt./ Public Ltd Companies, Trusts & Societies, etc.
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Primary Security
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Hypothecation of Rent Receivables
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| Collateral Security |
- Registered lease agreement is mandatory.
- 100% collateral security is required.
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Amount
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Depends on the rent terms. Maximum loan amount – Rs. 10.00 Cr.
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Repayment
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As EMI equal to un-expired lease period or extended lease period subject to a maximum of 7 years.
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Interest rate
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Margin
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10%
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Features
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- The borrower should be known to the bank or duly introduced.
- The tenant should be a MNC, Bank, Financial institution, Insurance Company, Blue Chip Company, Reputed Corporation, PSU, Government Dept., Quasi Government etc.
- Loan repayment period will be the remaining period of Lease period or extended lease period.
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Upfront fees
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1.00% of the loan amount
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Penal Interest
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2 % on the defaulted amount for the defaulted period.
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Prepayment / Pre-closure charges
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Nil
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List Of Documents Required With Respect To The Purpose Of Loan
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Salaried Class
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Business Class
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Pensioners
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KYC Docs (PAN Card and Aadhar Card and Photographs)
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KYC Docs (PAN Card and Aadhar Card and Photographs)
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KYC Docs (PAN Card and Aadhar Card and Photographs)
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ITR for the two years with computation sheet
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ITR for the two years with computation sheet
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ITR for the two years with computation sheet
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Salary Slip/Pension Statements for 3 months deed etc to be taken
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Recent financials
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Salary Slip/Pension Statements for 3 months
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Account Statement for 6 months
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Account Statement for 6 months.
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Account Statement for 6 months
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lease agreement
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lease agreement
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lease agreement
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Title deeds, Possession Certificate, Encumbrance certificate , location certificate and sketch ,Tax Paid Receipts
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