Lease Rent Discount / Loan for Commercial Properties
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Non Housing Loan
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A commercial property loan ( NRP Loan ) OR commercial plot loan is a contract between a borrower and a lender that allows someone to borrow money to buy a commercial premise OR commercial plot.
It is the most common type of loan product having two basic criteria like New Commercial Property ( under-construction ) OR Resale Property.
DOCUMENTS REQUIRED ( FOR APPLICANT & CO-APPLICANT )
NON HOUSING LOAN ( SALARIED INDIVIDUAL )
- Pan Card and Aadhar Card
- Photo Applicant & Co-Applicant.
- Proof of identity
- Current & Permanent residence address proof
- Qualification Proof
- Latest 2 Financial Year From 16
- Latest CTC (Cost to Company)
- Latest 6 Months salary slip
- Salary account Bank statement for 6 Months (updated)
NON HOUSING LOAN ( SELF EMPLOYED PROFESSIONALS )
- Pan Card and Aadhar Card
- Photo Applicant & Co-Applicant.
- Proof of identity
- Current & Permanent residence address proof
- Qualification Proof
- Company profile & Office proof
- Latest 3 years ITR (with all schedules – CA Certified)
- Current & Saving Bank statement for 1 year (updated)
NON HOUSING LOAN ( SELF EMPLOYED CUSTOMER )
- Pan Card and Aadhar Card
- Photo Applicant & Co-Applicant.
- Proof of identity
- Current & Permanent residence address proof
- Company profile & Office proof
- Latest 3 years ITR (with all schedules – CA Certified)
- Current & Saving Bank statement for 1 year (updated)
NON HOUSING LOAN ( NRI – Non Resident Indian )
- Pan Card and Aadhar Card
- Photo Applicant & Co-Applicant.
- Proof of identity
- Passport & Valid Visa
- Overseas residence & Permanent (Indian) residence address proof
- Qualification Proof
- CBR report (Credit Bureau Report)
- Latest Contract Letter & Latest CTC (Cost to Company)
- Latest 6 Months salary slip
- Overseas Salary account Bank statement for 6 Months (updated)
- NRE / NRO bank statement for 6 Months (updated)
NON HOUSING LOAN ( NRI – Merchant Navy )
- Pan Card and Aadhar Card
- Photo Applicant & Co-Applicant.
- Proof of identity
- Passport & Valid Visa
- Current & Permanent residence address proof
- Qualification Proof
- Latest Contract Letter & Latest CTC (Cost to Company)
- CDC – Continuous Discharge Certificate (For Latest 3 Years)
- NRE / NRO bank statement for 6 Months (updated)
Lease Rental Discounting
Lease Rental Discounting is a term loan that is offered against rental receipts and is availed by tenants against leased contracts. So, if you want to avail of funding, against your rental receipts, this financing option enables you to do that.
Features and benefits of lease rental discounting
- High-value financing – Get convenient access to high-value funding with lease rental discounting, to take care of your big-ticket purchases and expenses.
- Comfortable repayment plans – Subject to the remaining lease period of the property in question, you can get a loan tenor that doesn’t interrupt for your future or deplete your savings.
- Flexi loan facility – Pay interest only on the funds utilised from the sanctioned loan
- Foreclosure benefits – Enjoy no costs on part-prepayment and foreclosing your loan, making this a budget friendly credit solution.
Documents required for applying for lease rental discounting
Keep the following documents handy to avail an LRD loan.
- ID proof
- IT returns and balance sheet
- Bank account statement of the last 6 months
- Lease agreement paper
- Application form
- Photograph
What is the lease rental discounting eligibility criteria?
Property owners who opt for the lease rental discounting facility are required to meet specific
- eligibility criteria.
- Your age must be at least 25 years.
- You must be a resident of India.
- Your property must generate rental revenues to avail a minimum loan of Rs. 10 crore.
What documents will I need for lease rental discounting?
The documents you need to are listed below.
- ID proof (Aadhaar card/ PAN card/ voter ID/ job card issued by NREGA/ driving license)
- IT returns, P/L account statement, and balance sheet of the previous 2 years
- Bank account statement of the last 6 months
- Lease deed or license and lease agreement
- Signature proof
- Photograph of a partner
- Application form
- Certificate of incorporation
- Partnership deed
- AOA/MOA