LEASE RENTAL DISCOUNTING

Improve your liquidity with Lease Rental Discounting. This enables you to encash your current rental cash flows and avail of long term loan facilities to fund personal endeavors such as repayment of existing loans, education/marriage expenses or undertaking new business projects.

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Eligibility

  • Property owners ā€“ Leased out to PSUā€™s/ Govt./ Semi Govt. & Reputed Corporates / Pvt. Hospitals / Nursing Homes/ High Net Individuals.
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Quantum

Maximum ā€“ Rs.1000 lakhs (higher amount may be considered on case to case basis)
Minimum ā€“ Rs.10 lakhs

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Sanction Limit

For Loan eligibility, future rentals would be considered in the following proportions of the future rentals receivables for the unexpired period of lease:

Upto 3 years - 80%
3 years to 5 years - 70%
5 years to 7 years - 65%
7 years to 10 years - 55%

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Repayment Period

Maximum 120 months or before the expiry of the lease tenure whichever is earlier

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Security

  • Mortgage of property offered as security
  • One surety
  • Lease rentals to be assigned to the Bank
  • Co-owner to be made co-applicant
  • In case of companies/ firms facility to be secured by guarantee of partners/ directors
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Rate of Interest

  • At Banks PLR i.e. 12% p.a.
    (subject to change at Bank's discretion)

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Documents Required

  • Prescribed loan application form
  • Latest Photograph, Photo ID proof and Residence proof of Applicant
  • I.T. returns for last 3 years (Business / Self-Employed)
  • Last 3 months Salary slip (Salaried)
  • Bank statements for last 12 months (Business / Salary Accounts)
  • Property related documents
  • Notarized tripartite to Agreement between the Lessor, Lessee and Bank
  • Letter from lessee for direct remittance of lease rental in CCBL a/c

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ccbl@citizencreditbank.com

Citizencredit Co-operative Bank Ltd.
CITIZENCREDIT CENTRE
CTS No:236, Marve Road, Orlem,
Malad (W), Mumbai 400064

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