Rent Plus

  • Eligibility
    • Owners of commercial or residential buildings / properties which are rented or to be rented to Banks, Govt. Offices, Corporate and high net worth individuals.
  • Purpose
    • To meet the liquidity mismatch of the applicant.
  • Quantum of finance
    • Minimum 1 Lakh
    • Maximum
    • i)Rs.100.00 Lakh for Corporate Borrowers.
    • ii)Rs.50.00 Lakh for Non-Corporate Borrowers.
  • Margin
    • 15% - considering Net Rental Income.
  • Security
    • Clean Assignment of receivables and recording of power of attorney with the lessee is a must.
    • In a situation where the applicant is already having borrowing arrangement with another Bank and current assets are already charged, in such case, it will be necessary for his bank to cede exclusive first charge on the rent receivable in our favour.
    • First charge on buildings against the rentals of which the loan would be sanctioned (value of such property should be two times of the loan amount).
    • In the case of partnership firm, personal guarantee of all the partners of the building and in the case of private limited company, personal guarantee of all the directors to be obtained.
  • Repayment Period
    • By way of EMIs – By ways of monthly rentals within a period not exceeding 60 months.
  • Moratorium
    • No moratorium period
  • Rate of Interest
  • Processing Charge/Upfront Fee
  • Disclaimer:"Kindly contact the nearest branch for more details".