|Maximum Amount of Loan : Rs. 25.00 lacs
65 % of the total net rent (i.e. rent after taxes such as property tax, TDS) to be received whichever is lower.
|Margin : 35 %|
|Repayment Period : 5 years maximum or till the remaining period of the lease – which is earlier.|
|Repayment will be from the rent received.|
|Security : Equitable mortgage of the property given on rent or any other acceptable property of value of 35% more than the loan amount, subject to valuation certificate from Bank’s approved valuer.
|Rate of Interest : The proposal shall be rated as per the credit rating model followed by the Bank and a good rating can get you a better interest rate. The interest rates are linked to our PLR. For viewing our present PLR please click on the icon below:
Interest Rate on Advances
|Processing Fees. - .0.5 % of the loan amount.|
|Guarantors : In case the borrower is a partnership firm or a limited company, personal guarantee of the partners/directors .|
Mortgage of property.
|Power of Attorney from landlord executed in favour of the bank to receive the rent.|
|Property must be rented out to a reputed public limited company ,public sector undertaking, Govt, or semi govt, organisation, Banks, financial institution, Insurance Company or multinational company.|