Loan against Rent Receivables By Federal Bank

If you own a commercial property in any prominent locality, enjoy the benefit of future rentals today itself. We are at your assistance offering loan against rent receivables

 

Key Features

 

  • Competitive interest rate
  • Lower Margin required at 10% on the discounted value of net rent receivables
  • Higher loan eligibility -maximum at Rs.20 Cr and tenor up to 120 months
  • Flexibility in repayment mode
  • Eligible for Individuals/Firm/Company or any legal entity having assured rental/service/maintenance income from reputed Companies/Institutions/PSUs/Established Organizations including partnership firms/ Multinationals/ Other legal commercial entities.
  • Convenient types of loans- Demand loan, TL  or OD with diminishing DP

 

Documents Required

  • Proof of Identity (Passport / Voters ID card/ Driving License/PAN Card) 
  • Address Proof (Ration card Tel/ Electricity Bill/ Lease agreement/ Passport/Trade license /Sales Tax certificate) 
  • Bank Statement (latest 6 months bank) 
  • Last 2 Years ITRs (computation of income), audited Balance Sheet and Profit & Loss a/c
  • Proof of continuation (ITR/ Trade license /Establishment /Sales Tax certificate) 
  • Copy of registered lease agreement/maintenance/Service agreements duly executed and acknowledged by lessor and lessee. (Original agreement shall be obtained and verified)
  • Copy of tax paid to local bodies/Tax assessment order, wherever applicable.
  • Any other document on a case to case basis.

 

 

Repayment options

Repayment of the loan is made as Equal Monthly Instalments/EMI/Graded.

 

You can use any one of the ways to repay the loan:

 

  • Cheques
  • Standing instructions at your branch
  • FedNet - Internet Banking
  • ECS
  • Mobile Banking

 

Rates and Fees

  • Please visit the Interest Rates page for details

About

Federal Bank Limited is a major Indian commercial bank in the private sector headquartered at Aluva, Kerala having more than thousand branches and ATMs spread across different States in India.

The history of Federal Bank dates back to the pre-independence era. Though initially it was known as the Travancore Federal Bank, it gradually transformed into a full-fledged bank under the able leadership of its Founder, Mr. K P Hormis. The name Federal Bank Limited was officially announced in the year 1947 with its headquarters nestled on the banks of the river Periyar. Since then there has been no looking back and the bank has become one of the strongest and most stable banks in the country.

 

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