The above rates mentioned are only for limited period. These rates may vary from bank to bank and rates would be solely decided at the discretion of the bank.
Lease Rental Discounting (LRD) is a term loan offered against rental receipts derived from lease contracts with corporate tenants. In Lease Rental Discounting loan is provided to the lesser based on the discounted value of the rentals and the underlying property value.
Being a property owner, you earn fixed rentals from your property investments at periodic intervals. But with Lease Rental Discounting Services, you have an opportunity to get these rentals in a lump sum amount at attractive discount rates. You can then utilize these funds to generate further assets, which can yield higher returns. Furthermore, these funds can also be deployed for the expansion of your business activities.
It is another method to obtain finance from bank or other financial institute or lending institutes. Lease Rent Discounting (LRD) consideration is between the borrower who owns the premises, the tenant who has rented the said premises or taken on lease and the bank or financial institute or Corporate. The rent is considered as fixed income over a stipulated time i.e. Lease or rent period or tenure. The agreement is between the borrower and lender and the major term of repayment is the rent which is directly deposited with the lender and not with the borrower. In Lease Rent Discount (LRD) the borrower is sanctioned a loan based upon the rent to be collected over the period of lease.
|Documents||Salaried||Self Employed Properitorship Firm||Self Employed Partnership Firm||Self Employed Pvt Ltd / Ltd|
|Application Form With Photograph Duly Signed|
|Clear Pancard Copy, (Applicant & Co-Applicant)|
|Latest Residence proof (Applicant & Co-Applicant)|
|Latest Office Proof (Applicant & Co-Applicant)|
|Last 3 Months Salary-Slips|
|Last 12 Months Bank Statements|
|Processing Fee Cheque|
|GST Certificate & GST 3b Copy Last 1yrs|
|Form 16 / Income Tax Returns Of Last 3 Yrs|
|All Loan Sanction Letter If Any|
|Proof Of Business Existence ( Gumasta License , Sales Tax Certificate , Form 26AS , )|
|Last 3 Years ITR with CA Certified / Audited Balance Sheet And Profit & Loss Account|
|Company Pancard Clear Copy|
|Shareholding Pattern On Letterhead|
|Sundry Debtor & Creditor List Last 1year|
|Property Papers ( Chain Of Agreement, OC, CC, BMC Approved Plan & Share Certificate Front and back copy,Society NOC) / Draft Agreement, Cost Sheets.|
Equated Monthly Installment - EMI for short - is the amount payable every month to the bank or any other financial institution until the loan amount is fully paid off. It consists of the interest on loan as well as part of the principal amount to be repaid. The sum of principal amount and interest is divided by the tenure, i.e., number of months, in which the loan has to be repaid. This amount has to be paid monthly. The interest component of the EMI would be larger during the initial months and gradually reduce with each payment. The exact percentage allocated towards payment of the principal depends on the interest rate. Even though your monthly EMI payment won't change, the proportion of principal and interest components will change with time. With each successive payment, you'll pay more towards the principal and less in interest.
In EMI calculator you will be able to analysis the total output of interest you will be paying. In this mechanism you will be able to know the total EMI paid and the interest payable. In EMI Calculator you can also come to know how much interest you will be paying throughout the tenure. To work effectively on EMI Calculator you must be aware of the Loan Amount and the rate of interest. In EMI calculator you will come to know the total interest paid at the end of the Loan tenure.
If you are not satisfied with the calculator output please call us for a personalized solution for your requirement.
All applications for credit are subject to Banks normal credit approval criteria. Terms and conditions are available on application of every bank in which loan will be applied.
This is an estimate and it is provided for illustrative purposes only and is based on the accuracy of information provided. It does not constitute a quote. To apply for a loan you must complete an application.
The repayment amount and total interest payable excludes Processing fees and Mortgage Insurance / Life Insurance.
If a Variable Rate Loan is selected, the interest rate will be subject to market change throughout the term of the Loan.
Results are based on amortised scheduled repayments and, once any discount or fixed rate period expires, the current variable rate or the variable rate is applied for the remainder of the loan term (unless another fixed rate period is taken).
Creative Finserve will not store the information provided in this calculator.
Rent receipts are payable by the tenant directly to an escrow account with Bank. The underlying tenanted property, which may be commercial property or quasi-commercial property, will be taken as collateral. No plot, self-construction or under-construction properties will be allowed.
The general factors taken into account while determining the eligibility of Lease Rental Discount are listed below:
1. Age (Min. 21 Year )
2. Maximum 58 age at time of closure of the loan for the salaried
3. Maximum 65 age at time of closure of the loan for the self empolyed
4. Total work / business Experience 3 yrs
5. Indian resident
Following are the factors involved in availing Lease Rental Discount, but all have to be owner of the property.
• Self Employed Individuals/Professionals
• Proprietorship Firms
• Partnership Firms
• Private Limited Companies
The stages involved in availing Lease Rental Discount (LRD) Loan are as follows
• Property Valuation
• Personal discussion
• Sanctioning of the Loan
The documents required for Lease Rental Discount (LRD) Loan are as follows:
1. Application form with photograph
2. Identity and Address Proof
3. Proof of business existence & Education Qualifications.
4. Lease agreement
5. Property papers (Chain Of Agreement , share certificate , Noc )
6. Last 3 years ITR
7. Last 3 years P&L and Balance Sheet
8. Bank Statements (Last 12months)
9. Processing fee cheque
In Lease Rental Discount (LRD) the loan tenure depends on tenure left in rental agreement which could be minimum 12 to 180 months.
Yes , property has to be insured varies from bank to bank.
The repayment is mainly through escrow account or It can be paid through Post Dated Cheques (PDC) or Electronic Clearance System (ECS) as it may vary from bank to bank.
The Lease Rental Discount loan can be pre-paid along with the pre-payment charges. It may Vary from bank to bank.
The processing of the loans usually takes 15 working days after all the documents are submitted.
Comparing Lease Rental Discount online is not available as it is a complex affair, so we suggest you to contact our expert team who will guide you and give the best deal available in the market .Our expertise will give you a proper guidance which will give your value of the property to the fullest.
There is no process for applying online Lease Rental Discount unless and until you have a relationship with the same bank. Mandatorily you need to submit relevant documents and sign the application form to complete the formalities. Creative Finserve gives you a personalized solution for Lease Rental Discount, so why to confuse yourself with online approach if you can get better rate of interest and maximum eligibility through Creative Finserve.
Customers having online banking can approach their respective banks for Lease Rental Discount through net banking and get information about Lease Rental Discount .Appling online Lease Rental Discount will give you information of your bank, and if you apply through us you will get information about other banks for better rate of interest, foreclosure charges, tenure and processing fees.
Appling online Lease Rental Discount will give you information about particular bank. And if you apply through us our professionals will get exciting offers from other banks for better rate of interest, foreclosure charges, tenure and processing fees.
Rather than hunting in the market or approaching unprofessional consultants for better offers, give your few details and upload your few documents and get a personalized solution for your Lease Rental Discount for better rate of interest in few minutes from our professional team.
Since Creative Finserve has immense experience and tied up with all multinational and private banks, we would be able to guide you and give you the best deal available in Lease Rental Discount.
Lease Rental Discount emi calculator is a process where you will be able to come to know the exact Lease Rental Discount emi (installments) which includes principal and interest component according to your requirements. For Lease Rental Discount EMI calculator you can refer loan against property calculator.
We professional at Creative Finserve puts our best effort to give you a complete personalized solution. We take the pain of coordinating with various banks for you to give the best offer and service available in Lease Rental Discount.
Choosing a right bank for Lease Rental Discount is a cumbersome process, Creative Finserve guides you properly according to your requirements and gives you a personalize solution for your Lease Rental Discount.
Once your Lease Rental Discount is sanctioned or rejected you will get a sms alert or call from the bank and if you have applied through us we will coordinate with the respective banks and inform you.
It depends upon the current rate of interest of your existing Lease Rental Discount as against the rate of interest available in the market. We recommend you to compare both the offers in our loan comparison calculator or else call us to get a personalized solution for your Lease Rental Discount.