• Existing customers with satisfactory dealings.
• New customers -well introduced with satisfactory OPL/market report on them.

The property should have been leased / rented out to PSUs / Central / State / Semi Govt. Undertakings, Reputed Corporates, Banks, Financial Institutions, Insurance Companies and MNCs including the property leased / rented out to our Bank’s Branch/Office or House/Flat leased/rented out to the Bank as Quarters to our Officers/Executives.

In case the tenant is a Corporate, minimum external rating of the tenant should be BBB and above.

• Maximum – 75% of the net rent receivable for the unexpired period of lease, net of TDS, advance rent taken and other applicable taxes if any.

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• EMT of the leased property value of which should be atleast 100% of the loan amount.
• In case EMT of property against the rentals of which loan is proposed is not possible for any reasons, security by way of mortgage of an alternate property having a value of not less than 150% should be available.
• Assignment of lease rentals in favour of the Bank.
• Third party guarantee of person/s of adequate net worth acceptable to the bank.  Waiver of third party guarantee may be considered selectively.

• Upto 120 months OR unexpired lease period whichever is earlier.
• In respect of loans granted against Rent receivables from Navarathna Companies, PSUs, AAA rated reputed Companies, Our Bank, Insurance Companies longer repayment period up to 144 months OR upto lease period is considered.

IN RESPECT OF CORPORATES

• Upto 180 months or unexpired lease period considered for limit eligibility whichever is earlier, in respect of loans granted against rent receivables from Navarathna companies, PSUs, AAA rated reputed companies, our Bank and insurance companies.

• 25%

• 1% of the loan amount with minimum of Rs 5,000/-

• Upto Rs.10 lacs – Rs.200 per inspection per borrower with a maximum of Rs.600/- per year.
• Above Rs.10 lacs – Rs.300 per inspection per borrower or actual expenses incurred whichever is higher.
• Out of pocket expenses if any to be collected separately.

• Rs.100/- per lac or part thereof with a minimum of Rs.1000/- and maximum of Rs.25000/-.

• Application form : NF 964
• Registered Lease Deed executed between lessor and lessee to be submitted along with ANY ONE OF THE FOLLOWING
• Tripartite Agreement (to be stamped as agreement-cum-power of attorney) executed between lessors, lessee and the financing branch authorizing the lessee to remit lease rentals to the financing branch directly

                                  OR

• A Power of Attorney (to be stamped and notarized) executed by the lessors in favour of the Bank authorizing the Bank to receive the rents from the lessee which should be lodged with the latter (lessee) and acknowledgement obtained.
• Copy of the sanctioned plan issued by the Competent Authority in the name of seller/earlier owner /developer/land owner as the case may be.

For more details, please visit our nearest branch or call to toll free no. 1800 425 0018.

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