Minimum Loan Amount Under Loan Against Rent Receivables
Loan against rent receivable is offered by several banks and financial institutions. Usually, this a specialized loan product designed for owner of real estate building or commercial establishments. Owner who have given their estate building or commercial building on rent it might be a floor or part of the building on rent basis.
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It is believed that most of the invest in commercial properties which would be later on pay off higher margin on investments. Those individuals are eligible to avail loan against rent receivables from banks.
Generally, loan against rent receivables are available in both rural and urban areas. Banks consider commercial property as a collateral; this type of loan helps the owner to generate liquidity in their portfolio. Borrower loan amount can be utilized for personal as well as business purposes. As an added advantage owner of the commercial establishment can also get access to extra funds on future rent receivables.
Key Features -
Some of the salient features of loan against rent receivable are given below:
- Borrowers can avail loan at attractive interest rates.
- Get flexibility on repayment of loan at your custom interest
- Under this scheme, most individuals/companies/firms who are successfully generating funds through their ownership in property are eligible to apply.
- Up to 85% of market value of property are offered as a finance assistance
- Maximum loan amount under loan against rent receivable can get up to 85% of property value.
