Lease rent loan

Lease Rent Discounting (LRD)

Help you to grow beyond

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.