Loan Against Property in Pune

1. Lease Rental Discounting Loan A ​lease rental discounting loan​ is provided to the borrowers in rectification to the rented property of the borrower. This type of loan has the rented property itself as the collateral. Lending institutions provide a Lease Rental Discounting loan at a minimum of 20 lakh INR. Lease rental discounting loan compliments the ever-growing business in the country, it is a more secured and an easy way of getting funding for a business. Availability of rent recipients such as rent slips, or any other receipt which would act as a proof of rent collection is a major base for obtaining a Lease rental discounting loan. Obtaining the loan is relatively easy with the right circumstances like a good performing property and assets equalizing to the amount of the desired loan. Based on the amount, the lease rental discounting interest rate also differs.

2. Points to remember before applying for a lease rental discounting loan ● The property must be a registered one. Unregistered properties are less likely to obtain this type of loan. ● The borrower must mention its other assets as well while applying for this loan. ● The borrower cannot sell the property until the repayment of the loan. ● If the loan is not paid off, then the lender has a right to auction or sell the property to recover the amount of the loan. ● The value of the property must be enough to fulfil the sum of the loan. Lease rental discounting loan eligibility criteria To obtain this, the borrower must meet the eligibility criteria for the loan, there are various documents and receipts which can ensure that the borrower has met the lease rental discounting loan eligibility. ● Stable income - Which needs to be proved with appropriate documentation. ● For salaried individuals, the age criteria for lease rental discounting loan eligibility is 20-60 years ● For self-employed individuals, the age criteria are 20-65 years.