| 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.