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Lease Rental Discounting (LRD) is a term loan offered against rental receipts derived from lease contracts with corporate tenants. The loan is provided to the lesser based on the discounted value of the rentals and the underlying property value.
The product is designed to finance the business needs of Sole proprietors/proprietorship firms Partnership firms, Private and Public Limited companies. Even Professionals like Doctors, Architects, Chartered Accountants & Business Consultants can avail Lease Rent Discounting.
Lease Rent Discounting against the security of Rent receipts which are payable by the tenant directly to an escrow account with the Bank. The underlying tenanted property, which may be commercial property or quasi-commercial property, will be taken as collateral. No plot, self-construction or under construction properties are considered.
Maximum loan has no upper limit, but is 70% of Property Value and subject to eligibility conditions being met, the maximum tenure for which the loan can be avail, the facility is determined by the lease tenure and is capped at 12 years.