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Corporate Rental

Financing property owners against future lease rentals for business/ personal needs or any lawful activity. Not for speculative purpose.

Eligibility :

Property owners having their property situated in Metro/ Urban Area / Semi-Urban areas, who have let out /leased their property under registered lease deed /sub- lease deed / rent deed to Govt./ Semi Govt./ Public Sector Undertakings/Reputed Corporations / Banks/ Financial Institutions/ Insurance Cos./ Multinational Companies etc.

Nature of Facility :

Term Loan or Overdraft

Quantum of finance :

Term Loan or Overdraft to the extent of

  • 75% of the Future Lease Rental Receivables where un-expired lease period is three years and less, maximum Rs.10.00 crore.
  • 65%of the Future Lease Rental Receivables where un-expired lease period is more than three years but not exceeding 6 years, maximum Rs.10.00 crore.
  • 55% of the Future Lease Rental Receivables where un-expired lease period is more than six years but not exceeding 8 years, maximum Rs.10.00 crore.
  • 50% of the Future Lease Rental Receivables where un-expired lease period is more than 8 years but not exceeding 10 years, maximum Rs.10.00 crore.

Future Lease Rent Receivables = Gross rent Receivables less (advance rent received + property tax + income tax + other statutory dues of the lessor)

Security:

  • Assignment of future rent receivables in favor of Bank.
  • Equitable Mortgage of any property of the borrower value of which should be to the extent of
  • 100% of proposed loan in case the loan is repayable within 36 months.
  • 133% of proposed loan in case the loan repayable beyond 36 months.
  • 200% of proposed loan in cases where there is difficulty in entering in to an agreement with the tenants to assign the future rentals.

Guarantee`

  • Personal Guarantee of joint/ co-owner of the property (if any)
  • Personal guarantee of all Directors other than Nominated/Professional Directors (in case of Corporate Borrowers)

Insurance

Borrower/s to keep the insurance for the full market value of the property to be mortgaged in the name of the borrower/s with bank clause, against risk of damage, loss, destruction by fire and such other risks as may be prescribed by the bank and keep up such insurances live until the amount due under the Term Loan of the bank is paid in full.

Repayment

  • Term Loan is repayable in Maximum 120 months or within the unexpired lease period, whichever is lower.
  • Overdraft facility will also be for maximum period of 120 months or the unexpired lease period whichever is lower.
  • The entire portion of monthly rent receivables will be credited into loan account every month

Rate of Interest

  • Term Loan / OD upto 3 years - MCLR + 3.00%
  • Term Loan / OD above 3 years - MCLR + 3.50%

Processing Charges

1 % of the loan amount subject to minimum of Rs.5, 000/- and maximum of Rs.2.00 lakh.

Borrower's obligations

All obligations as lesser under the lease to be fulfilled by the borrower. Borrower shall be responsible for up keeping of the property, payment of all taxes, insurance premium etc.

For further details please contact our nearest branch or call on the toll free no.1800 22 1911

Loan type Forms
Application Form 1 for Loan of Rs.5 Crore to Rs.15 Crore Download Word Document Format
Download PDF Format
Application Form 2 for Loan of Rs.15 Crore to Rs.40 Crore Download Word Document Format
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Application Form 3 for Loan of Rs.40 Crore and above Download Word Document Format
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Standardised Common Loan Application Form for Agriculture Credit Download PDF Document Form
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Cent Buy Download Word Document Format
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Housing Loan Application Download Word Document Format
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Cent Vehicle Download Word Document Format
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Cent Vidyarthi Download Word Document Format
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Cent School Download Word Document Format
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Teacher's Loan Download Word Document Format
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Cent Rental Download Word Document Format
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Cent Doctor Download Word Document Format
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Cent Swabhiman Download Word Document Format
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Personal Loan to Employees of Corporate Sector Download Word Document Format
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Cent Sahyog (form for upto 10 lakhs) Download PDF Format
Cent Sahyog (form for above 10 lakhs) Download PDF Format
Application for Agricultural Loans Download PDF Format

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