आईबी रेन्ट एनकैश
Indian Bank is offering loan against rental receipts derived from registered lease contracts. Rent or rental value pertaining to the residual / unexpired period of lease (certain period only) is only considered. However, in cases where our bank is the lessee, the rent for the option period also can be reckoned for calculation of eligible loan amount, after duly taking in to account the certainty / possibilities of our bank renewing the lease agreement.
|Eligible customers||Owners of Freehold Property / Leasehold Property (Commercial / Residential – Individual / Joint owners / Trust / Societies / Corporate / Firms or any other entity) who have let out / who propose to let out their buildings to top notch Corporates / Public sector undertakings / State / Central Government offices.|
|Purpose||Any purpose including repairs, renovation of buildings, marriage, education, household festivals, Medical or any bankable purpose other than speculative / prohibited purposes|
|Property||Freehold / Leasehold Property (Commercial/Residential) acceptable to the Bank.
The property offered as security shall be absolute and specific to this loan. Extension of existing securities to this loan product is not permissible.
Lease hold property may be considered if it is owned by Central Government/ State Government/Other Government bodies, subject to satisfactory legal opinion on the original lease deed which conveys the leasehold rights. NOC / Mortgage permission from these authorities should be obtained, wherever necessary.
|Minimum Loan||Rs.1.00 lakh|
|Interest Rate||Click here|
|Processing Fee||Click here|
|Prepayment Charges||Term Loan:
· Individuals: NIL
· Non-individuals: 2% + applicable GST on the balance outstanding or drawing limit whichever is higher
· 2% + applicable GST on the balance outstanding or drawing limit whichever is higher
|Security||· Assignment of Rent Receivables
· Mortgage of property leased out
· Guarantee as required by the Bank, as per the extant Policy and on case to case basis
|Insurance||Property offered as Security to be insured at borrower’s cost with Bank’s Clause against Fire, flood, earthquake, riot and other risks, which are normally covered by insurance companies.|
( अंतिम संशोधन Dec 01, 2022 at 12:12:56 PM )