|Who can Borrow||Individuals/Proprietorship concern/Partnership firm/ Limited LiabilityPartnership/Private Limited company|
|Purpose||To 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.|
|Limit||Based on the Net Rental income receivable.|
|Security||Immovable Property having all requisite permissions from competent authorities|
|Margin||15%to 20% of Net Rent Receivables (Less TDS) and|
25%of Market Value of Immovable Property
|Rate of Interest||IPRE/CRE : 10.50% p.a|
Other than IPRE/CRE : 9.00% p.a.
|Repayment||Maximum120 months or Residual Months of the Lease Agreement whichever is lower.|
|Processing Fees||As per our service charges applicable|
|Basic Documents||KYC 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.