Loan Against Future Rent Recivable (Under Commercial Real Estate Sector) for Individuals upto Rs 10.00 crores only
Loan Against Future Rent Receivables has been developed considering the growth potential in the real estate sector in various metros and urban centers, where many commercial properties/shopping malls are being developed and the owners approach banks for loans against securitization of future rent receivables from such properties
- The scope for the New Product has been kept wide to cover the target groups, viz. owners of immoveable properties (lessor) belonging to all types of the constitution.
- The minimum and maximum loan limits are fixed at Rs.5.00 lac and Rs.500 crores respectively (subject to satisfactory Credit Rating of the borrower).
- The lessees can be of any category / constitution, except individuals. Properties involving lessees, who are reputed corporations/ institutions/PSUs/Banks/MNCs, may be preferred.
- Loan under the scheme can be considered for different purposes, i.e. for all lawful economic activities as also for personal needs of the lessors. However, the facility should not be extended to any speculative purposes,
- The Scheme provides for flexibility in respect of entering into Tripartite Agreement among the Bank, Borrower and the Tenant, by providing an alternative of obtaining a suitable letter of authority and commitment to pay rent directly to the Bank from the owner of the property and the tenant respectively, at the discretion of the Sanctioning Authority.
For detailed information on the more benefits that you can avail of, and the simple terms and conditions to follow for the same, CLICK HERE.
RATE OF INTEREST: (CLICK HERE FOR CURRENT INTEREST RATES).
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