Loan Against Rental Income Scheme

Beneficiary Owners of the Property who have let out or proposed to be let out the same to Reputed Company/Commerical/Industrial/Software Companes, MNCs , Banks , PSUs/Reported Govt./Semi Govt./Institutions/Organisations , financial Institutions , Insurance Companies etc.
Purpose For meeting business/ personal needs.
Loan Limit Maximum to the extent of 50% of post TDS Rent Receivable for a period. Not exceeding 120 months or un- expired period of lease or Rs 25 Lac whichever is less.
Rate of Intt 12%
Margin 50%
Repayment Period Maximum 10 years  OR unexpired period of lease wichever is earlier.
Collateral Security Mortgage of landed property value of 150% of the loan amount  .
                                      OR
Other chargeable securities such NSCs, IVPs, Banks on Deposits to the extent of 100% of Loan amount.
                                       OR
150% cover partly by immovable property and partly by securities such as NSCs,IVPs, Bank's on deposits. In case of property /Security is in the name of third party,personal gurantee of the owner of assets proposed to be taken as collateral security.
Area of Operation Loan shall be advanced in the area operation in the Muktsar district.