Business Loan In KVB Bank

Buddy will you please tell me Rent Fin Loan of Karur Vysya Bank is for business purpose, if yes I need to know more about the loan?

According to me yes Karur Vysya Bank, Rent Fin Loan is for your business and here I will get information related to the loan.

Features
It is a term loan (RE).

This loan is for property owners, whether they are individuals, proprietors, partnerships, corporates, trusts, regional bodies or HUFs and have rented out property for lease in Metros, Urban and Semi-urban areas.

This loan is to provide finance against future rent received by the owner/owners of the property.

The guarantor of the loan will be partners, directors or any other authorized person deemed fit by KVB.

Charges and Limits
Loan Amount Minimum of Rs. 3 lacs
Margin (Min.) 25% on net lease rent receivable
Disbursement –
Documentation Charges –
Primary Security Assignment of Rent
Collateral Security EM charge on Building property
Repayment Maximum unexpired lease period or 60 months whichever is less

Base rate
Base rate(w.e.f. 05/10/2015) → 10.40%

Terms and Conditions
Commercial properties that are free from encumbrance, let out on a lease basis only are eligible. Residential properties (Independent House & flat), under lien to PSUs, Govts. and Banks are eligible.

The lessee should be a reputed corporate, bank, Fl, Govt. or Subsidiaries, in existence for a minimum period of 5 years and making profit for last 2 years.

Tax, Insurance and maintenance are the responsibility of the owner.

The owner of the property (lessor) is to execute power of attorney in our favour (KVB) to collect Rent.

Address:-
Karur Vysya Bank
Post Box No.- 21
Erode Road, Karur - 639002

Phone:-
04324 - 269000

__________________
Answered By StudyChaCha Member