Lease Rental
Discounting
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Lease Rental Discounting
Lease rental discounting (LRD), also known as a loan against rent receivables describes the loan as calculated based on the rent that which landlord receives from the tenants. Lease rental discounting offers customers a loan for future rentals of their commercial, residential, godown, industrial, etc. that has been lent, leased, or rented.Â
The loan granted against this scheme is generous and convenient for those planning to refurbish their property and improve their rental aspects provided that the tenant has a strong financial presence with a sizable turnover. The customers can negotiate with lenders to get the best deals and lower interest rates on their loan amount under categories A, B, and C varying depending on the tenant’s financial standing.Â
This is a great option for those who need extra cash flow or for those who want to consolidate their debts.
However, a lease rental discounting loan can be processed only when rent (Minimum ~ 1 rent) is credited to the account and also a rental agreement is in place. The tenure of the loan however will depend on the tenure of the lease period, positioning it as versatile.
Unique Points & Features
Avail of loans up to 70% – 90% of the property market value
With several banks working towards providing their customers with the best deals in the market, many offer a lease rental discounting loan amount of up to 70% to 90% of the market value of the requested property.
Flexible and longer repayment tenors
Repayment periods for a loan against rent receivables are long, with some extending up to 15 years. With such flexible and longer repayment periods, the customer can repay his loan comfortably.
Lower interest rates
Compared to personal loan interest rates, a loan against rent receivables has lower interest rates, some as low as 7.50%.
Ease of repayment
The loan against rent receivables provides ease of repayment with the customers repaying the loan with the acquired rent.
Instant approvals
Approval time on lease rental discounting loans is quick. With minimal documentation and an easy loan process, the loan amount approved is quickly dispersed at Loanz360.
Doorstep service
Commuting between banks is a huge burden with the time and cost being wasted. Get your documents delivered to your doorstep without having to break a sweat.Â
Eligibility Criteria
Age: 21 – 65 years (Conditions Apply)
Type of Employment: Salaried/Self-Employed/Business Owner(Govt, Large Enterprises, Etc.)
Nationality: Resident of India
Income: Monthly Minimum ~ Rs. 10,000/- and above (Salaried/Self-Employed), Minimum ~ Rs. 2,00,000/- p.a onwards (Business Owners)
Credit/CIBIL Score: Any profile(Credit score ~ 650 or above has a higher chance of getting a quick and instant loan with high funding at lower interest rates)
Employment Stability: 1 – 3 years and above (With a stable income and continual flow of money)
Note: The eligibility criteria mentioned above are generic and may vary from lender to lender. Please reach out to us at Loanz360 for a personalized eligibility chart.
Documentation
Note: Documents requested may vary from lender to lender, contact Loanz360 for any inquiry.
KYC DocumentsÂ
- ID Proof – Voter’s ID/Passport/PAN Card/Aadhaar Card/GST Certificate(For Business Owners)
- Address Proof – Electricity Bill/Ration Card, Copy of Utility Bill/Insurance Bond/Income Tax Assessment Order/Property Registration Documents/Pensioner Book/Property Tax Receipt/Gas Book/Employer Certificate
Income Proof –Â
- Latest 1-year rental bank statements
- Copy of Income Tax Returns (ITR) – Self & Business
- Balance Sheet (C.A Certified)
- Profit and Loss Statements (C.A Certified)
- Business stability/Ownership proof (If applicable)
Additional Documents – Registered Lease Deed/License Agreement Copy (If Applicable)/Rental Agreement/Property Documents/Approved Plan
Charges & Interest Rate
CURRENT LEASE RENTAL DISCOUNTING LOAN INTEREST RATES START @ 8.90% P.A ONWARDS. Compare interest rates and check more deals offered on a loan against rent receivables by our financial partners at Loanz360 in 2022.
Bank Name | Interest Rate (P.A) |
HDFC | 10.75% onwards |
PNB Housing | 8.60% |
Bajaj Housing Finance | 7.75% |
Bank Of Baroda | 8.65% |
Bajaj Finserv | 11.75% |
Kotak Mahindra Bank | 9.50% |
Axis Bank | 11.40% |
Aditya Birla Finance | 11.25% |
SBI | 9.45% |
ICICI | 8.75% |
Note: Our financial partners are not limited to the above-mentioned banks. Contact Loanz360 to discuss options. The interest rates may vary subject to conditions.
