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Last Modified : Dec 11, 2008 10:36 PM
V Rent Scheme
 
Eligibilty
Loan Amount
Margin
Rate of Interest
Repayment
Security
Fair Practice Code On Lenders' Liability
Processing Charges
 
 
Eligibility

Owners of the property who have let out the same to reputed Companies, Commercial / Industrial, Software, Multinational companies, Banks, eputed institutions, etc. This loan is available to the owners (lessors) of the property only.
 
Loan Amount

To the extent of 80% of rent expected during the unexpired period of the tenancy or up to a maximum of 120 months rentals.(less Security deposits/Advance - TDS)
 
Margin
Upto Rupees One lakh - clean
Above Rupees One lakh - In the case of immovable property, a margin of 25 % be maintained, whereas in respect of other liquid securities, it should cover the loan amount.
 
Repayment

The loan is repayable in Equated monthly installments towards principal and interest within the unexpired period of lease or within 120 months, whichever is less.
 
Security

  1. Loans upto Rs.1.00 lakh : on clean basis
  2. Loan above Rs.1.00 Lakh :
    • EMDTD with first/pari-passu charge on the property whose rent is charged to the loan.
    • In case the security of the said property is not available, EMDTD of other property/properties or other chargeable securities, such as NSCs, IVPs, Bank's own deposits, etc may also be obtained.
 
Debt Waiver / Relief Beneficiaries
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Debt Waiver / Relief Beneficiaries
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