Loan against Rent Receivables (LRR)

1	Purpose	For meeting any genuine needs.
2	Eligibility	Individuals who are salaried / professionals/ SE & NP/ NRI /pensioner / companies/ firms who have property leased/ rented out to PSUs, Central/ State/ Semi Govt undertakings, reputed corporate, banks, financial institutions, insurance companies, MNCs etc. Lease agreement should be a registered agreement. The properties leased/ rented out to Can fin Homes as office premises or quarters to its executives/officers. Individuals having property leased / rented out to non-corporate shall be considered selectively at the discretion of the Managing Director. Property (Land& Building ) proposed for mortgage to be in the name of applicant/s.
3	Margin	Not less than 15% of market value of the security as per the valuation report given by the company’s Panel Valuer.
3	LTV	Up to 85 % of value of the property.
3	Loan amount	Maximum of 75% of net rent receivables.
4	Security	Mortgage of the property being financed. Collateral on case-to-case basis.
5	Rate of interest	Prevailing card rate.
6	Repayment	Within a maximum period of 10 years in Equated Monthly Installments’ or unexpired period of lease whichever is lower.

Purpose