The National Co-Operative Bank Ltd.

Loan against Rent Receivables

Who can Apply	Owners who have rented out his/her commercial premises on rent basis under a registered rent agreement
What should be the purpose?	For meeting financial need of the borrower against assignment of future rent receivables
How much loan can be granted ?.	Maximum 60 months rent receivables. (But should not exceed 65% of the market value of the property and limited upt expired period of lease)
What is rate of interest?	@13.50% p.a. on reducing balance
What will be the share linkage	R1% of loan sanctioned
What will be the repayment period?	By 60 EMIs through direct credit of rentals
What will be the securities?	Regd mortgage of the property Hypothecation of rent receivables Tripartite Agreement with borrower, tenant & Bank
What about guarantors?	Two guarantors acceptable to Bank
How to apply?	Application in prescribed format Photographs of borrower & guarantors PAN CARD ( MANDATORY) CIBIL REPORT ( MANDATORY) Address proof : Passport / telephone / electricity bill, Ration card / Voter identity card etc (any one) Identity proof: Passport / voter identity card / PAN card, Driving licence / Adhar Card etc (any one). Consent letter from the tenant Certified copy of the rent agreement Copy of registered sale agreement Search report/ valuation report NOC from builder/Society, NOC from CIDCO Original share certificate Consent letter & financial papers of guarantors Pre sanction visit report
What about insurance?	The property shall be fully insured with Bank clause
	By way of disbursement through the account of the borrower . b) Post Sanction:- Periodical visit of security offered to bank atleast once in six months. The inspection report to be kept in record and adverse feature if observed to be brought to the notice of the H.O. immediately

Concession Rate 0.25% p.a. of Interest to Women borrower for Housing Loan, Education Loan, Gold Loan, Business Loan.

National Co-operative Bank