LOAN AGAINST RENT RECEIVABLES.(N-CASH)

• Purpose
• Eligibility
• Quantum of loan
• Margin
• IIR
• Interest rate
• Repayment period of loan
• Security for the loan
• Front End Fee

PURPOSE

For meeting any genuine needs and purposes acceptable to the company.

ELIGIBILITY

1. Individuals who are salaried persons / professionals / business men, who have property leased / rented out to PSUs, Central / State / Semi Government Undertakings, reputed corporates, banks, financial institutions, insurance companies, MNCs etc., including the property leased / rented out to Can Fin Homes as office premises or quarters to its Executives / Officers are eligible to apply for a loan under the scheme.
2. Individuals having property leased / rented out to non-corporates shall be considered selectively at the discretion of the Managing Director.
3. he proposals of firms which satisfy the above criteria can also be considered.
4. he rent/ lease agreement should be a duly registered document.

QUANTUM OF LOAN

The minimum amount of loan under the scheme is Rs.2 lakhs and the maximum amount of loan is Rs.50 lakhs and subject to a maximum of 75% of the net rent receivables .

MARGIN

The margin for the loan is not less than 15% of market value of the security as per the valuation report given by the company'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

Interest rate Prevailing from time to time on monthly diminishing balance basis will be applicable.

Click here for latest Interest rates

REPAYMENT

Within a maximum period of 5 years by way of Equated Monthly Installments .

SECURITY

• Equitable mortgage of the property to be financed.

• Third party guarantee of person/s of adequate networth acceptable to the company.

• Additional security, where found required.

FRONT-END FEE

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