LEASE RENTAL DISCOUNTING
This product is proposed to be offered to borrowers who are deriving a stable and assured income stream in the form of rental from an acceptable / credible lessee.
Individuals, Partnership Firms, Private/Public Limited Companies, Trusts, Registered Bodies (like Educational Institutions, Societies, Association of persons) owning the properties
|Purpose of Loan||Any purpose acceptable to the Bank, but not for any speculative/ illegal purpose whatsoever.|
|Loan Amount||Minimum : Rs. 5.00 lakhs Maximum : Rs 500 lakhs|
|Maximum Tenor||Upto the residual lease period or 8 years, whichever is lesser|
|Lease Agreement||The same should be registered as per prevailing law of the State.|
|Eligible Properties||Commercial properties and warehouse which is ready for occupation|
1. Well known Multinational Cos, Public Sector Undertaking and their subsidiaries, Banks, Financial Institutions, Insurance Cos, and Central Government Offices.
2. Other companies/ Institutions/ Firms which are in existence for a period of at least 3 years and have earned cash profits at least for last 2 years.
3. Well reputed companies with minimum external rating of BBB in the private sector.
|Repayment||In the form of EMIs by debiting the escrow account opened with CSB where the rentals are deposited by tenant on a monthly basis.|