Loan Against Rental Receivables F.A.Q.
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This type of loan is generally available to individuals who own a property that has been rented out to blue chip companies, multinational companies and public sector companies. However, certain banks offer this loan only to those individuals who own commercial property. Before offering this loan, the banks will take care to ensure that he following conditions have been met:
- The property has been rented out.
- The property has been built according to the plan approved by the local government authorities.
- There is a confirmed lease agreement between you and your tenant.
- You and your tenant are worthy of giving credit.
We are constantly trying to bring you the best rates possible from the various banks and NBFC’s. Every detail is checked and verified internally to arrive at the best fit lender for your needs, so that rejections are almost nil. Since we are neutral platform, we do not push nor promote any lender. Only the best deals basis your eligibility is presented to you for further processing. Moreover, all the services are completely free of cost to you.
- Proof of Residence - Any one of Ration Card / Telephone Bill / Electricity Bill / Voters Card.
- Proof of Identity - Any one of Voters Card / Drivers License / Employers Card.
- Latest Bank Statement / Passbook (where rentals are credited for past 12 months).
- Copy of current Lease Agreement.
- Copies of all Property Documents.
A Loan Against Rent Receivables can be extended up to a maximum of 50%* of market value of your property. However this dependent on Net Rentals, balance tenure & other parameters.
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