Objective
- Financing for Personal needs other than speculation purpose.
Eligibility
- Individuals/ Companies/ Associations/ Firms, who own building/ Commercial complex etc in Capital City, District Head Quarters, Towns and leased to MNC/ Banks/ reputed public sector/reputed private sector and such lessee has made substantial in the towards infrastructure facilities such as air-conditioning, interior decorations, electrical installations etc.
Purpose
- Investment in business, extension of properties, meeting other personal needs like marriage, education of children, and purchase of properties etc. and the utilization should be for a genuine purpose .
Amount
- The maximum amount of the loan should not exceed 75% of the rent expected during the unexpired lease period of tenancy.
Margin
- 25% of the rent expected during the unexpired period less expenses and rental advances.
Security
- Future rent receivable .
- Equitable/registered mortgage of the properties of which rent is charged to the loan.
Repayment
- Maximum 120 EMIs.
Rate of Interest
- BPLR (Present BPLR 14.25%).
Remarks
- A registered lease agreement of the premise/building is prerequisite for the scheme.
For further details, contact the nearest Branch.