Lease Rental Discounting (LRD) is a term loan offered against rental receipts derived from lease contracts with corporate tenants. In Lease Rental Discounting loan is provided to the lesser based on the discounted value of the rentals and the underlying property value. Read More
There are several steps in the Lease Rental Discount process. Here are the steps in brief:
Lease Rental Discount is a term loan offered against rental receipts derived from lease contracts with corporate tenants.
Rent receipts are payable by the tenant directly to an escrow account with Bank. The underlying tenanted property, which may be commercial property or quasi-commercial property, will be taken as collateral. No plot, self-construction or under-construction properties will be allowed.
The general factors taken into account while determining the eligibility of Lease Rental Discount are listed below:
1. Age (Min. 21 Year )
2. Maximum 58 age at time of closure of the loan for the salaried
3. Maximum 65 age at time of closure of the loan for the self empolyed
4. Total work / business Experience 3 yrs
5. Indian resident
Following are the factors involved in availing Lease Rental Discount, but all have to be owner of the property.
• Self Employed Individuals/Professionals
• Proprietorship Firms
• Partnership Firms
• Private Limited Companies
The stages involved in availing Lease Rental Discount (LRD) Loan are as follows
• Application
• Processing
• Property Valuation
• Personal discussion
• Sanctioning of the Loan
• Disbursement
The documents required for Lease Rental Discount (LRD) Loan are as follows:
1. Application form with photograph
2. Identity and Address Proof
3. Proof of business existence & Education Qualifications.
4. Lease agreement
5. Property papers (Chain Of Agreement , share certificate , Noc )
6. Last 3 years ITR
7. Last 3 years P&L and Balance Sheet
8. Bank Statements (Last 12months)
9. Processing fee cheque
In Lease Rental Discount (LRD) the loan tenure depends on tenure left in rental agreement which could be minimum 12 to 180 months.
Yes , property has to be insured varies from bank to bank.
The repayment is mainly through escrow account or It can be paid through Post Dated Cheques (PDC) or Electronic Clearance System (ECS) as it may vary from bank to bank.
The Lease Rental Discount loan can be pre-paid along with the pre-payment charges. It may Vary from bank to bank.
The processing of the loans usually takes 15 working days after all the documents are submitted.
Comparing Lease Rental Discount online is not available as it is a complex affair, so we suggest you to contact our expert team who will guide you and give the best deal available in the market .Our expertise will give you a proper guidance which will give your value of the property to the fullest.
There is no process for applying online Lease Rental Discount unless and until you have a relationship with the same bank. Mandatorily you need to submit relevant documents and sign the application form to complete the formalities. Creative Finserve gives you a personalized solution for Lease Rental Discount, so why to confuse yourself with online approach if you can get better rate of interest and maximum eligibility through Creative Finserve.
Customers having online banking can approach their respective banks for Lease Rental Discount through net banking and get information about Lease Rental Discount .Appling online Lease Rental Discount will give you information of your bank, and if you apply through us you will get information about other banks for better rate of interest, foreclosure charges, tenure and processing fees.
Appling online Lease Rental Discount will give you information about particular bank. And if you apply through us our professionals will get exciting offers from other banks for better rate of interest, foreclosure charges, tenure and processing fees.
Rather than hunting in the market or approaching unprofessional consultants for better offers, give your few details and upload your few documents and get a personalized solution for your Lease Rental Discount for better rate of interest in few minutes from our professional team.
Since Creative Finserve has immense experience and tied up with all multinational and private banks, we would be able to guide you and give you the best deal available in Lease Rental Discount.
Lease Rental Discount emi calculator is a process where you will be able to come to know the exact Lease Rental Discount emi (installments) which includes principal and interest component according to your requirements. For Lease Rental Discount EMI calculator you can refer loan against property calculator.
We professional at Creative Finserve puts our best effort to give you a complete personalized solution. We take the pain of coordinating with various banks for you to give the best offer and service available in Lease Rental Discount.
Choosing a right bank for Lease Rental Discount is a cumbersome process, Creative Finserve guides you properly according to your requirements and gives you a personalize solution for your Lease Rental Discount.
Once your Lease Rental Discount is sanctioned or rejected you will get a sms alert or call from the bank and if you have applied through us we will coordinate with the respective banks and inform you.
It depends upon the current rate of interest of your existing Lease Rental Discount as against the rate of interest available in the market. We recommend you to compare both the offers in our loan comparison calculator or else call us to get a personalized solution for your Lease Rental Discount.