Lease rent loan

Lease Rent Discounting (LRD)

Help you to grow beyond

Who can BorrowIndividuals/Proprietorship concern/Partnership firm/ Limited LiabilityPartnership/Private Limited company
PurposeTo meet business needs and/or other genuine personal needs of the owners, [butnot for speculative purpose]. This advance is against lease rent receivablesfrom Shopping /Office Complexes.
LimitBased on the Net Rental income receivable.
SecurityImmovable Property having all requisite permissions from competent authorities
Margin15%to 20% of Net Rent Receivables (Less TDS) and
25%of Market Value of Immovable Property
Rate of InterestIPRE/CRE : 10.50% p.a
Other than IPRE/CRE : 9.00% p.a.
RepaymentMaximum120 months or Residual Months of the Lease Agreement whichever is lower.
Processing FeesAs per our service charges applicable
Basic DocumentsKYC documents of borrower and guarantor
ITR along with Audited financial statements for last 3 years of the Borrower Firm/Co as well as Proprietor/Partners/Directors for the last 3 years, along with business account statement for the last 2 years.
Original Title Deeds of the property offered as security.
Copy of Registered Leave & Liecense [Rental] Agreements.

Note: Tripartiate Agreement between Lessor, Lessee and Bank needs to executed. Escrow A/c to be opened for deposit of rental income.