Purpose: This loan can be obtained by property owners for any personal needs.
Eligibility: Owners of property who have let out their property to reputed companies, software companies, Bank, government, semi government, PSU, Financial Institutions, etc. can avail this loan scheme.
Quantum of Loan: An amount of Rs. 1 lakh to Rs. 30 lakhs might be attained as loan under this loan scheme.
Margin: There is a margin of 25% for this loan.
Rate of Interest: The rate of interest for this loan scheme is PLR + 1% per annum.
Repayment: The maximum period within which the repayment has to be done is 120 months or un-expired period of lease whichever is lesser.
Security: Assignment of lease rental is taken as primary security. Collateral security is also required as per the bank norms. Collateral security in the form of NSC, KVP, Deposit in the Bank, mortgage of residential / commercial property, pledging of immovable property, etc. could be taken.
Other Features: 1% of the loan amount is taken as the processing charge. This is subject to a minimum amount of Rs. 5000 and a maximum amount of Rs. 2.5 lakhs.