Loan on Rental Yield
Eligible category of borrowers
- Members who are Individuals/ Proprietor/Companies/ Partnership firms with high means
- Maximum Rs 50.00 lakhs
- 20-30 times of rental amount after deduction of service tax and TDS or 60% of the value of security whichever is lower.
- Mortgage of the property where the rent is receivable or any other unencumbered property
- Minimum 3 years -Maximum 10 years depending on the lease period.
Rate of Interest
- Upto Rs 25.00 Lacs -13.50%
- Above Rs 25.00 lacs Upto Rs 50.00 Lacs-14.00%
- Equated Monthly Installment(EMI) only
- Two sureties who are necessarily be members of the Bank.
- Three months rent to be credited to the account before the submission of proposal
- After sanction of loan 6 months rental amount to be kept as security deposit till the tenure of the loan with letter of lien.
- Rent to be routed through escrow account
- Rent receivable in cash can not be considered.
- All the other terms and conditions applicable to other loans remains the same.
LOAN ON RENTAL YIELD – LRY
|AMOUNT IN LAKHS||ROI||TENURE|
|UP TO 25.00||12.75%||Minimum 3 years maximum 10 years depending on the lease period|
|>25.00 TO 50.00||13.00 %||Minimum 3 years maximum 10 years depending on the lease period|
|>50.00 TO 70.00||14.00 %||Minimum 3 years maximum 10 years depending on the lease period|