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Many people own commercial spaces and offer them on lease. Leasing such spaces has its own share of advantages, one of them, is being able to raise a Term Loan against the rental income received. Lease Rental Discounting (LRD) is a Term Loan offered against income-producing commercial assets/property. The LRD Loan works on the premise that your leased property derives fixed rent, which you can use as a ‘Collateral’ to generate funds, instantly.
Lease Rental Discounting Benefits & Features
ELIGIBILITY
Any resident or non-resident individual can apply for the LRD Loan
Both salaried and self-employed professionals (including doctors, engineers, dentists, architects, chartered accountants, cost accountants, company secretary and management consultants) can apply
You can get lease rental discounting loan for a maximum tenure of 15 years
The minimum lease period should be 3 years
Documents Required for Lease Rental Discounting (LRD)
Proof of Identity and Residence
- Aadhaar Card, PAN Card, Passport, Driving Licence. PAN Card issued in India is no longer considered a valid proof of identity.
Proof of Income
- Income documents (Financial & ITR) not required
- Last 6 months’ Bank Account Statements, having rental credit
- Last 6 months’ Bank Account Statements, for all other operating bank accounts.
Others
- Lease Agreement papers
- Duly signed Application Form
- Photographs.
