Loan against Lease Rent Discounting – To meet borrowers liquidity mismatch.
Purpose : To meet borrowers liquidity mismatch.
Eligibility : Owners of residential buildings and commercial properties, which are to be rented or already rented through Registered lease Deed to MNCs/Banks/Large & Medium size Corporates/Public sector undertaking etc.
Quantum of Loan :
Lowest Of :
60% of realizable value of the property mortgaged (as per latest valuation report of the Bank’s approved valuer
Maximum permissible under the Scheme
70% of [Total rent receivable for the residual lease period or loan period,
w.e. is lower minus Total of Advance Deposit,Estimated Amount of Property Tax, TDS and other Statutory Dues for the period]Minimum : Rs.100.00 Lakhs
Maximum : Rs.900.00 Lakhs
Repayment Period : In Equated Monthly Installments for Maximum 9 years
Margin : 30.00% of Amount of Lease Rent or 40% on Market Value of Immovable Property which ever is less.
Security(Movable/ Immovable) :
Primary : Assignment of Rent Receivables (Exclusive first charge on Rent Receivable)
Collateral : 1) Equitable Mortgage on building against the rentals of which the loan would be sanctioned.
2) The realizable value of property to be mortgaged should be atleast 120% of the amount of loan.
Personal Guarantee : In case of partnership firm/company, personal guarantee of thepartners/directors to be obtained.
Conditions for Concessional ROI :
Lessee is reputed corporate/ institution/ Govt/ Semi Govt / PSUs/ MNC/Established commercial organization/ Multinational companies/first class top Indian companies etc.
Min. lease agreement to be for 7 years.
Min. lock in period should be 3 years.
Borrower should be sound entity with established other sources of revenue
Ancillary benefits like SB a/cs, current a/cs, retail loan requirement of group & family to be maintained with us.
Prepayment Charges : 2.00%
Share Linking : 1% of the loan amount sanctioned (Max. Rs. 2,00,000 i.e.8000/-Shares)
Owners of residential buildings and commercial properties, which areto be rented or already rented to MNCs/Banks/Large & Medium size Corporates/Public sector undertaking etc.
