ANDHRA BANK-LOANS TO INDIVIDUAL AGAINST RENT RECEIVABLES

Loans to individual against Rent Receivables

Eligibility

Individuals, proprietorship, partnership, public Ltd. Cos, Private Ltd. Cos, and Trust are eligible to avail the facility.

All unencumbered residential/ commercial properties at all places let out for reputed public sector/ private sector/ multinational undertakings, embassies and consulate offices of foreign countries etc are eligible for the loan.

Quantum of Finance Up to a maximum of Rs. 10.00 cr

Repayment Period Within the unexpired lease period including option period/
84 months whichever is less.

Interest rate As applicable on the date of loan.

Primary Security Rent Receivable

Collateral Security For loans up to Rs. 1.00 lacks: No Collateral.

For loans above Rs. 1.00 lacks: Equitable mortgage of the property/ liquid assets such as NSCs, deposits etc. With 25% margin/ equitable mortgage of alternative collateral security.

Co-obligant/ Guarantor: Acceptable to the bank.

Charges As applicable to the scheme from time to time.

Other Terms and Conditions apply.

This is not meant to be a prospectus. This is only a gist of the salient features. For further details and other conditions, contact your nearest Andhra Bank Branch.