Overview
Many individuals own commercial properties and lease them out, benefiting from consistent rental income. One significant advantage of leasing is the ability to secure a Term Loan against the rental income received. Lease Rental Discounting (LRD) is a type of Term Loan offered against income-generating commercial properties. This loan is structured on the premise that the fixed rental income from your leased property can be used as **collateral** to instantly access funds.
Lease Rental Discounting (LRD) loans are based on the concept of utilizing rental income from leased properties as collateral. In this arrangement, tenants sign a lease agreement with the property owner, committing to regular rental payments. The property owner can leverage these rental receipts, structured for the lease term, as collateral to secure a loan.
Lease Rental Discounting Loan Features
High-value Financing
Comfortable Repayment Plans
Flexi Loan Facility
Foreclosure Benefits
Features & Benefits of our Lease Rental Discounting Loan
We acknowledge that buying a home is one of life's most significant financial decisions. With our array of customizable Lease Rental Discounting Loan options, we're here to assist you at every turn, ensuring a seamless and stress-free process. The followings are the ways a Lease Rental Discounting Loan can be useful:
Competitive Interest Rates: Take advantage of our competitive interest rates, guaranteeing that you can comfortably afford your dream home while safeguarding your financial stability.
Flexible Repayment Options: Customize your repayment schedule to align with your financial capacity, whether you opt for a shorter duration to minimize interest costs or a longer duration for more manageable monthly payments.
Simple Application Process: Easily apply for a Lease Rental Discounting Loan from the convenience of your own home through our intuitive online application process, saving you valuable time and effort.
Transparent Terms & Conditions Transparency is our cornerstone. From the outset, you'll have complete clarity with no hidden fees or surprises along the way. You'll be fully informed about all terms and conditions from the start.
Quick Approval and Disbursal: We comprehend the importance of achieving your dream home promptly. With our swift approval and disbursement process, you'll find yourself stepping into your new home sooner than you expect.
No Foreclosure Charges: Acquire a Lease Rental Discounting Loan hassle-free, devoid of collateral requirements, streamlining the borrowing process while minimizing risks. Embrace worry-free pursuit of your dreams with no foreclosure charges.
Lease Rental Discounting Loan Eligibility & Documents
Your eligibility for a Lease Rental Discounting Loan application is usually determined by your age, work status, credit score, and income.
Lease Rental Discounting Loan Eligibility Criteria
The basic criteria for Lease Rental Discounting Loan eligibility are as follows:
You must be above 21 years of age at the time of the commencing of your loan, and up to 65 years or less at loan maturity
Salaried Person - 21 years to 58 years
Self-Employed Person - 25 years to 65 years
Salaried Person - Minimum Rs. 10,000 per month
Self-Employed Person - Minimum Rs. 2,00,000 per year
Salaried Person - Minimum 2 to 3 years of Experience in MNC, or a Private or Public Limited Company
Self-Employed Person - Minimum 3 years of Experience in the current field
A credit score of 750 is considered a good score for approval.
Documentation for Lease Rental Discounting Loan
Form 16
Employee Identity Card
3 Months Salary Slip
6 Month Bank Account Statement
Duration of Employment Evidence
PAN Trade License Article of Association
Partnership Deed Import Export Code Memorandum of Association
SEBI Registration Certificate ROC Registration Certificate
Financial Statement Audited by CA Profit & Loss Account Statement
Balance Sheet Professional Practice License for Doctors, Consultants, etc
6 Months Bank Account Statement Business Address Proof
Registration Certificate of Establishment for Shops, Factories, and Other Establishments
Income Proof Documents for NRI Property Papers Property Documents
Partnership Deed Sale Deed Stamped Agreement of Sale
Incase of resale property share certificate is required Allotment Letter
Allotment Letter Payment Receipt of Payment Made to Seller or Builder
No Objection Certificate or NOC Possession Certificate
Land Tax Receipt Construction Cost Estimate Occupancy Certificate
Bank Account Statement of Payment Made to Seller or Builder Housing Society
EMI Calculator for Lease Rental Discounting Loan
The monthly payments you make towards repaying your Lease Rental Discounting Loan are called Equated Monthly Instalments (EMIs). These payments cover both the principal loan amount, spread over the loan tenure, and the interest on the remaining loan balance.
The Ruloans online Lease Rental Discounting Loan EMI Calculator is a helpful tool to guide you in making informed decisions for managing your Lease Rental Discounting Loan efficiently. This easy-to-use calculator quickly and accurately computes your EMIs, helping you plan your finances with ease.
Calculate Now
Lease Rental Discounting FAQ's
- Any Resident Indian or NRI can apply for the loan
- Any salaried individual working in the Public or Private Sector, can apply for the Lease Rental Discounting
- Any self-employed professionals, including doctors, lawyers, chartered accountants, consultants, architects, can also apply
- Self-employed non-professionals like traders, manufacturers, distributors
- Any Public or Private Limited Companies, Partnership Firms, or Proprietorship firms, can apply for the LRD Loan.
- If you avail an LRD Loan, you are required to pay a Loan Processing Fee / Renewal charges of 2% plus applicable taxes
- Administration charges will be Rs 5,000 or 0.25% of the Loan Amount plus Applicable Taxes, whichever is lower
- If you are pre-paying the loan amount any time after 6 months, from the date of the disbursement of the loan, you will have to pay pre-payment charges at the rate of 4% plus applicable taxes.
