| Loans against Rent Receivables |
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 Nature of the Scheme
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Loans to individual against Rent Receivables
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| Eligibility |
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Individuals, proprietorship, partnership, public Ltd. Cos, Private Ltd. Cos, Trust are eligible to avail the facility.
All unencumbered residential/ commercial properties at all places let out for reputed public sector/ private sector/ multinational undertakings, embassies and consulate offices of foreign countries etc are eligible for the loan.
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| Quantum of Finance |
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Upto a maximum of Rs. 10.00 cr
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| Repayment Period |
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Within the unexpired lease period including option period/ 84 months whichever is less.
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| Interest rate |
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As applicable on the date of loan.
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| Primary Security |
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Rent Receivable
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| Collateral Security |
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For loans upto Rs. 1.00 lacs: No Collateral.
For loans above Rs. 1.00 lacs: Equitable mortgage of the property/ liquid assets such as NSCs, deposits etc. With 25% margin/ equitable mortgage of alternative collateral security.
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| Co-obligant/ Guarantor |
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Acceptable to the bank. |
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| Charges |
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As applicable to the scheme from time to time.
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| Other Terms and Conditions apply. |
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This is not meant to be a prospectus. This is only a gist of the salient features. For further details and other conditions, contact your nearest Andhra Bank Branch.
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