Apply For Lease Rental Discounting with Terkar Capital Lease Rental Discounting is a term loan that is provided to a borrower based on their income from a rented property. Also known as LRD loan, it is offered against rental receipts that are derived from lease contracts of a rented property. This funding is offered on the basis of the underlying value of a property and the discounted value of rentals. Lease Rental Discounting has attractive interest rates. The loan taken is usually a high-value loan ranging from Rs.10 Crore to Rs.50 Crore. The eligibility criteria for Lease Rental Loans is pretty simple.
The basic lease rental discounting eligibility criteria is as follows: ● ● ●
Minimum 25 years old. You must be a resident of India. Your property must generate rental revenues to avail a minimum loan of Rs. 10 Crore.
Every type of funding be it trade on credit, bill discounting, machinery finance and so on, have various rules and regulations. Here are some important pointers one should remember while applying for a Lease Renting Discounting Loan:
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The rented property must be legitimate and registered. Unregistered properties are unlikely to get the funding. The value of the borrower’s property must rectify the required amount of loan. The borrower must be able to pay off the loan. Other assets owned by the borrower must also be specified to the lender. The property cannot be sold until the loan is paid off. The rented property against which the loan is taken should be ensured. If the loan is not paid off within the tenure, the institution has the right to put the property on an auction and retrieve the loan amount.
The documents required for every Corporate loan differ. For Lease Rental Discounting too the documents required may differ from one financial institution to another. Here are some basic documents which you should be prepared with for a Lease Renting Discount: ● ●
A completely filled out application form for the loan. Recent photographs of the applicant.
For salaried individuals ● 3 to 6 months of salary slips. ● Income Tax Returns proof or latest Form No. 16. ● Bank statement for the last 6 months of the salary account.
For self-employed individuals and firms ● Business profile of the company. ● Memorandum of Association (MoA) ● Articles of Association (AOA) ● Partnership deed ● Income Tax Returns of the company for the last 3 years ● Profit and loss statement ● Balance sheets certified and audited by a Chartered Accountant.
Important: The application must be signed by all the directors of the board if the loan is being taken for the firm. Terkar Capital provides the best rental lease discounting services. They support their clients throughout the process of Lease Rental Discounting. Being one of the leading financial consulting and advisory firms, Terkar Capital makes sure that the entire process is hassle-free. Even after disbursement of the loan, the executives stay in touch with the clients and provide assistance in case of any issues. Looking for financial advice? Contact Terkar Capital now!