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Salient features of scheme for loan against future lease rental

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PNB has introduced a scheme for property owners having their properties situated in Metro/Urban/ Semi Urban/rural centres and who have let out such properties.

Eligibility

Property Owners having their properties situated in metro, urban, semi-urban and rural areas who have leased out such properties to the following:

(i) Public Sector Undertakings / Govt. / Semi / State Govt. & reputed corporates, Banks, Financial Institutions, Insurance Companies and Multinational Companies.

(ii) Reputed private schools/colleges (approved by/affiliated to State Board/University/ AICTE/ any other Govt. body).

(iii) Reputed private hospitals/ nursing homes.

(iv) Franchisees/dealers/distributors of reputed corporates

Nature & Extent of loan

Remaining period of the lease Interest rate range (%age) Quantum of Loan (Maximum upto following %age of the future lease rentals receivable for unexpired period of lease)
1 3 10.00 to 14.00 80
2 3 14.50to 18.00 75
4 10.00 to 14.00
5 10.00 to 11.50
3 4 14.50 to 17.50 70
5 12.00 to 14.00
6 10.00 to 12.00
7 10.00 to 10.50
4 4 18.00 65
5 14.50 to 17.50
6 12.50 to 14.50
7 11.00 to 12.50
8 10.00 to 11.50
5 5 18.00 60
6 15.00 to 18.00
7 13.00 to 15.50
8 12.00 to 13.50
9 10.00 to 11.50
10 10.00 to 10.50
6 7 16.00 to 18.00 55
8 14.00 to 16.00
9 12.00 to 14.50
10 11.00 to 13.00
11 10.00 to 12.00
12 10.00 to 11.00
7 8 16.50 to 18.00 50
9 15.00 to 17.50
10 13.50 to 15.50
11 12.50 to 14.00
12 11.50 to 13.00
8 9 18.00 45
10 16.00 to 18.00
11 14.50 to 17.00
12 13.50 to 15.50
9 11 17.00 to 18.00 40
12 16.00 to 18.00

The amount of lease rentals is to be considered net of TDS, GST or any other tax, wherever applicable, for arriving at the eligible amount.

Security

  • Assignment of lease rentals.
  • Equitable mortgage of leased IP of which rental is assigned:-
    • In case of loans having repayment period upto 5 years, the amount of loan should not exceed the value of the property mortgaged.
    • In case of loans having repayment period beyond 5 years, the amount of loan should not exceed 75% of the value of the property mortgaged.
  • In case of Company, personal guarantee of promoter directors.

Rate of Interest

Click here to View Interest Rates

Repayment

Normally, Maximum repayment period under the scheme be allowed to 120 monthly instalments and the same be extended to maximum 144 months, subject to the availability of unexpired lease period.

Upfront Fee (Term Loan & Overdraft on Reducing DP Basis)

0.70% of the loan amount + GST

Documentation Charges

Rs.270/- upto Rs.2 Lac + GST

Rs.450/- over Rs.2 Lac + GST


For further details, please contact the PNB branch nearest to you.

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