Rent Fin Loan
If you are a property owner and require a loan against your rent receivables then KVB has designed just the loan for you. You can enjoy the benefits of future rent receivables today with our Rent Fin Scheme. We extend our loans to you so you can make the most of now for your financial needs.
Base rate(w.e.f. 05/10/2015) → 10.40%
- It is a term loan (RE).
- This loan is for property owners, whether they are individuals, proprietors, partnerships, corporates, trusts, regional bodies or HUFs and have rented out property for lease in Metros, Urban and Semi-urban areas.
- This loan is to provide finance against future rent received by the owner/owners of the property.
- The guarantor of the loan will be partners, directors or any other authorized person deemed fit by KVB.
|Charges and Limits|
|Loan Amount||Minimum of Rs. 3 lacs|
|Margin||(Min.) 25% on net lease rent receivable|
|Primary Security||Assignment of Rent|
|Collateral Security||EM charge on Building property|
|Repayment||Maximum unexpired lease period or 60 months whichever is less|
For details of Processing Charges & Other charges, prospective customers are requested to contact nearby branches
- Commercial properties that are free from encumbrance, let out on a lease basis only are eligible. Residential properties (Independent House & flat), under lien to PSUs, Govts. and Banks are eligible.
- The lessee should be a reputed corporate, bank, Fl, Govt. or Subsidiaries, in existence for a minimum period of 5 years and making profit for last 2 years.
- Tax, Insurance and maintenance are the responsibility of the owner.
- The owner of the property (lessor) is to execute power of attorney in our favour (KVB) to collect Rent.
- The owner shall undertake to pay installments and interest if the tenant fails to pay rent.
- The requirement of the written loan agreement between the owner of the property (lessor) and the lessee covering at least the loan repayment period and irrevocable amounts during such period is a must.