Loan against future lease rentals
ELIGIBILITY
| i. | Property Owners having their properties who have let out such properties to Govt & reputed corporates, Banks, Financial Institutions, Insurance Companies, Multinational Companies, reputed private schools/colleges (approved by/affiliated to govt. body), can avail finance against future net lease rentals for meeting business/personal needs. | |
| ii. | Finance against future lease rentals to the owner/lessor of Immovable Property (wherein the tenant compensates the owner/lessor by way of monthly lease rentals/sub lease rentals for the services provided by executing service agreements, facility agreements or furniture agreements etc.) may be considered on the following terms and conditions: | |
| a | The articles such as interiors, furniture, electrical fittings etc., if owned by the owner/lessor of I.P (Immovable Property), should be hypothecated to the bank. | |
| b. | Tripartite agreement between the lessor, lessee and the bank should be obtained for payment of lease rentals directly to the bank. | |
PURPOSE
NATURE & EXTENT OF LOAN
| Remaining period of the lease | Quantum of Loan (Maximum upto following %age of the future lease rentals) |
| Upto 3 years | 85 |
| Beyond 3 years & upto 5 yrs | 75 |
| Beyond 5 years & upto 7 yrs | 70 |
| Beyond 7 years & upto 10 yrs | 60 |