Untitled Document

Rent Discounting Term Loan Back

Purpose
Any lawful purpose (personal or business)

  • Eligibility
    •  Landlord or owner of prime un-encumbered property who has let-out his/her property to Corporate, Govt. and Semi Govt. Organization, Banks, Multi-national Companies etc. against registered /notarized rent agreement.
  • Documents Required
    • KYC compliance
    • Original Rent Agreement
    • Original title deeds / sale deed of the plot / flat, Latest copy of city survey record, Copy of sanction plan (corporation / NIT), Latest corporation tax paid receipt, Copy of Deed of declaration (in case of flat)
    • Income proof of the applicants, Certified copy of latest salary receipt for 3 months. (in case of salaried person)
    • Other relevant applicable documents.
  • Rate of Interest
  • Extent of Loan
  • Amount which could be served/repaid from the monthly rent (Less: TDS amount +taxes + maintenance expenses)
  • Repayment
    • For the balance period of the rent agreement or maximum upto 84 months in monthly installments equal to the monthly rent receivable (Less: TDS amount +taxes + maintenance expenses).
  • Security
    • Mortgage of property which has been given on lease/rent and shall cover at least 100% of the loan amount
    • Personal Guarantee of two persons with good means /net worth
  • Condition
    • Processing / Scrutiny Charges : 1.15% of the loan amount or as per the sanctioned terms.
    • Share linking - Borrower will be required to purchase the shares of the Bank (as per sanction terms)
  • Other Conditions
    • Other terms and conditions as per Sanctioned Terms
Other Loans facilities

172, Shraddhanand Peth,
South Ambazari Road,
Nagpur-440010
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TELEPHONE
0712 - 2221120, 2221686
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MOBILE
+91 9158884855,
+91 9158884844, +91 9158884845