• Owners of commercial or Residential buildings / Properties in Urban, Semi Urban or rural areas which are rented or to be rented to Banks, Govt. offices, Corporate & high net worth individials.

Equated monthly Installments - By way of monthly rentals within in a period not exceeding 60 months.

1% of the loan amt sanctioned should be recovered upfront as processing charge.

• 15% i.e. 85% of (gross future rental - property tax, TDS, advance deposit & any other statutory recoveries.)

Minimum: Rs. 1 lac

Maximum: Rs. 1 Crore.

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Primary:

• Clean. Assignment of Receivable & 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 & 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.

Collateral:

• (a)1st charge on buildings against the rentals of which the loan would be sanctioned (value of the such property should be two times of the loan amt).
  OR
  Equitable Mortgage of land, if it is non-agricultural land.
• (b) In the case of partnership firm, personal gurantee of all the partners of the building & in the case of private limited company, personal gurantee of all the directors to be obtained.
  (In case where our bank is the renant & the loan amt does not exceed Rs. 25 lacs, stipulation of equitable mortagage may be waived subject to the condition that the lease deed should not expire during the currency of the loan)