United Cash Rental
United Bank of India has come out with a loan scheme against future rent
receivables for the owners of house properties who have leased out or rented the same to
bank, insurance company, multinationals, company of good market standing, reputation and
financial position, financial institutions, financially sound public sector undertakings,
Government of India offices.
The Salient features of the loan scheme are indicated below:
Eligibility
If you are an individual (single or joint) or firm or a company owning house, flat or
godown and letting or leasing it out to bank, insurance company, multinational company,
company of good market standing, reputation and sound financial position, financial
institution, financial sound PSU of Govt. of India (not individuals) and you are
interested to take loan against future rentals you may apply for the loan.
Quantum of Loan calculation
Max. Rs. 10 Crore where EMI should not exceed 80% of post tax monthly rent / lease rent receivable (85% when our bank is tenant) & 80% valueof property t o be mortgaged.
Rate of Interest : Click here to view.
Repayment
The loan is to be repaid within the unexpired period of lease/ tenancy or 8 years
whichever is lower.
Security
- Mortgage of the unencumbered property and/ or
- LIP/ KVP/ Relief Bond/ Bank's Term Deposit etc.
- Assignment of future rent receivables
Margin
20% of the amount of rent receivables or 20% of the value of the house property or on
accrued/ surrender value of other securities.
Processing Charge: 1%
Click here for Term Loan against
future rent receivables form
Pdf format for Term Loan against
future rent receivables
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