The City Co – operative Bank – Loan against Rent Receivable

By Pradeep Yuvaraj | September 15, 2011

The city Co- operative bank is one of the well known banks having almost 8 branches in Mumbai and 2 branches in Thane District. In addition to banking for conveniences of its customers the Bank is also providing insurance and other services. Its loan portfolio includes housing loan, personal loans, educational loans, business loans, mortgage loans etc.

The bank also provides Safe Deposit Lockers at our Borivali (E), Dahisar (W), Mira Road (E), Girgaon and V. P. Road Branches

It also offers RTGS facility – The system is secured and fund can be credited to the RTGS enabled Bank / Branch instantly. The system is instruction based and does away with the cheque & instrument there by reducing the delay in credit of proceeds & bouncing of the cheques.

Purpose: Working Capital Finance, purchase/repairs of business /residential premises, educational, marriage, medical expenses, investment (other than speculative purpose) etc.

Eligibility: The applicant should be lesser of the property. He may be an individual or a body corporate registered under the relevant law of land. The lessee should be a reputed organization. The lessee should be acceptable to the Bank.

Guarantors: Guarantee of minimum 2 persons of good means.

Quantum of Loan: To the extent of Total Rent Receivable.

Rate of Interest: 14%

Repayment: According to lease period.

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Pradeep Yuvaraj

About Pradeep Yuvaraj

Pradeep Yuvaraj is a Co-Founder and Director at Finerva Financial Solutions Private Limited, a financial education company focused on personal finance education. He has penned over 250 articles relating to Personal Finance and clocked over 500 hours of educating individuals on managing personal finance. He is a serial entrepreneur and has been associated with 7 Start-ups. His entrepreneurial experience spans industries as varied as Education, Gas Engineering, Automobile Design, Software development and more recently a Pure play presentation design company. Prior to turning entrepreneur in 2005, he has worked for 3 of the top ten companies of the world - Shell, ExxonMobil and Total SA. This experience included handling Branch Operations, Channel Sales and Business Development across 5 states over a period of 8 years. He holds an MBA from Symbiosis and an Electronics Engineering Degree from the University of Pune.

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