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If you have a rented commercial premise, Saraswat Bank provides easy and quick Rental Loans against rent receivables for your business requirements.

Maximum Amount of Loan:

  1. 6 times of annual rent subject to maximum 60% of the total rent receivables
OR
  1. 70% of the realisable value of property, whichever is lower.


Further, rent receivables from single lessee not to exceed 25% of total rent receivable.

Margin:

35%

Repayment Period:

5 years maximum or till the remaining period of the lease, which is earlier.
Repayment will be from the rent received.

Security:

Equitable mortgage of the property given on rent or any other acceptable property of value of 35% more than the loan amount, subject to valuation certificate from Bank’s approved valuer.

Rate of Interest:

The proposal shall be rated as per the credit rating model followed by the Bank and a good rating can get you a better interest rate. The interest rates are linked to our PLR. Current PLR is @14.75%

Processing Fees:

0.5 % of the loan amount

Guarantors:

In case the borrower is a partnership firm or a limited company, personal guarantee of the partners/directors.

Other Conditions:

Mortgage of property, Power of Attorney from landlord executed in favour of the bank to receive the rent. Property must be rented out to a reputed public limited company, public sector undertaking, Govt., or Semi Govt., organisation, Banks, financial institution, Insurance Company or multinational company