If you have rented out a property to an individual or a company, it can come handy during an emergency. You can get a loan against the rent receivables you are yet to receive in the future from your tenant. The good part is that such a loan would be cheaper than a personal loan and your tenant will pay the equated monthly instalments on your behalf.
We at Monei Matters make sure that we get you the most excellent deals for your necessity of loan against your future rental income with maximum possible finance at the minimum possible rates. Through our expertise in the property market and knowhow of the current market rates we help our clients get the best value for their property and best Loan amount against Rental Receivables.
The scope for the Loans Against Rent Receivables has been kept wide to cover the target groups, viz. owners of immoveable properties belonging to all types of the constitution. To get flexible loans against the expected cash flows of rental revenue from your property, make good use of Monei Matter's Loans against Rent Receivables. Whether you need more funds to add to your current loan, to venture into a new business or fulfill a personal requirement, Monei Matters is here to service your needs.
Quantum of Loan
The minimum amount of loan under the scheme is Rs.2 lacs and the maximum amount of loan is Rs.200 Crores and subject to a maximum of 75% of the net rent receivables.
The margin for the loan is not less than 15% of market value of the security as per the valuation report given by the Bank's Panel Valuer.
Instalment-Income Ratio (IIR)
IIR is not applicable since finance is limited to 75% of net rent receivables for the unexpired period of lease.
Interest rate Prevailing from time to time on monthly diminishing balance basis will be applicable.
Within a maximum period of 10 years by way of Equated Monthly Installments.