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Loan against Rent Receivables
Who can apply?
Owners who have rented out his/her commercial premises on rent basis under a registered  rent agreement
What should be  the purpose?
For meeting financial need of the borrower against assignment of future rent receivables
How much loan can be granted ?
Maximum 60 months rent receivables. (But should not exceed 65% of the market value of the property and limited upt expired period of lease)
 What is rate of interest?
@13.50% p.a. on reducing balance
What will be the share linkage
1% of loan sanctioned
What will be the repayment period?
By 60 EMIs through direct credit of rentals
What will be the securities?
  1. Regd mortgage of  the property
  2. Hypothecation of rent receivables
  3. Tripartite Agreement with borrower, tenant & Bank
What about guarantors?
Two  guarantors acceptable to Bank
How to apply?

a)     Application in prescribed format

b)     Photographs of borrower & guarantors   



e)     Address proof : Passport / telephone / electricity bill, Ration card / Voter identity card etc (any one)                                 

f)      Identity proof: Passport / voter identity card / PAN card, Driving licence / Adhar Card etc (any one).

g)     Consent letter from the tenant

h)     Certified copy of the rent agreement 

i)       Copy of registered sale agreement

j)       Search report/ valuation report                               

k)     NOC from builder/Society, NOC from CIDCO

l)       Original share certificate

m)   Consent letter & financial papers of guarantors

n)     Pre sanction visit report

What about insurance?
The property shall be fully insured with Bank clause
How disbursement will be made? 
By way of  disbursement through the account of the borrower .



Sanctioning Authority


1) Loan Committee upto Rs. 10 lakh & 2) Board above Rs. 10 lakh

Loan Rs 5 lakh and above clearance from recovery section before disbursement regarding compliance of sanction terms and conditions


Post Sanction :


Periodical visit of security offered to bank atleast once in six months.  The inspection report to be kept in record and adverse feature if observed to be brought to the notice of the H.O. immediately




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