Lease Rental Discounting( LRD ) is basically a term loan which is offered by bank against the discounted value of the rental to corporate tenant . under LRD the borrower pledges the future rental earning from the leased property to the bank for loan repayments LRD is mostly offered against commercial property.
LRD is best for those who invested big amount in commercial property for rental income for long term; investment of the investor in a way locked for long term that’s why they opt for LRD from bank.
Feature of Loan Against Property are :-
- Low Intrest Rate
- Loan up to 70% or even more of property value (residential /commercial)
- Tenure for repayment is up to 15 years
- Loan amount range is 15 lakh to 100 crore
- Loan sanctioned within 4-6 days of submission of required documents.
- Repayment permitted upto 65 years of age
- No pre payment charges*
Working capital requirements
Purchase of machinery
Purchase of commercial property
Closure of existing high-cost debts
Buying a new property
Your child's education
Any other personal, business or professional need
Door step service
Minimum processing fee
Free personal accident insurance
Bad credit history cases can be considered