Provides loans against assignment of future rentals to the residential or commercial property owners to meet their liquidity mis-match
Loan amount
Get up to a maximum of ₹ 10 Cr
Interest Rate
Interest Rate between 7.99% to 10.99%.
Tenure
Repay loans in easy instalments from 12 to 108 months as per your repayment choice or lease period
Processing Fees
A processing fee of up to 3% of the loan amount and requisite documentation charges are applicable, and the same is deducted from the loan amount at the time of disbursal
Loan Eligibility
Type of Property
Residential or Commercial property
Location Of Property
Properties located in Metro/Urban/Semi-Urban/Rural areas. Plan approval and other related permission for the property from appropriate authority need to be in place.
Minimum Rent Amount
Minimum Rent is Rs. 1lakh or more
Loan Amount Calculation
• 65% of realisable value of the property mortgage (as per latest valuation report of the Bank's approved valuer). • Maximum permissible under the Scheme. • 80% of [total rent receivable for the residual lease period or loan period, whichever is lower minus total of advance deposit, estimated amount of property tax, service tax, TDS and other statutory dues for the period
Documents required
- KYC Documents (Identity & Address Proof)
- Property documents
- Leave and License agreement copy
- 12 months’ bank statement to which rentals are credited