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Target Group
Owners of the property who have let out the same to reputed companies/ shops for commercial purpose/ Industrial/ software companies, MNC’s, Bank, PSUs / Reputed Govt. / Semi-Govt Institutions / Organizations, Financial Institutions, Insurance Companies etc. for their occupation or and also providing services in the form of office infrastructure with/ without manpower etc (Plug & play model) and have future cash flows /receivables including lease rentals, service charges, Agency Commission assuring Minimum Guaranteed Amount etc. as per agreed terms.
Owner of the property who have rented out their premises to Allahabad Bank are also eligible.
Age of Building
Purpose
Quantum of Loan
- Minimum: Rs.1.00 Lac
- Maximum: Rs. 200.00 Crores or as per requirement of the applicant or limit arrived at, which ever is less but within prudential limit exposure of the Bank.
Assessment of Loan Amount
Loan amount will be assessed in such a way that it is repaid within the residual lease period or maximum 120 months, whichever is earlier. Net rent/ service charges receivable will be calculated after making necessary deduction from gross receivables.
Click here for Rate of interest
Click here for Processing Fees, Prepayment Penalty, Documentation Charges, Mortgage and other charges
Repayment
In equated monthly instalments for a period not exceeding 120 months or unexpired period of lease/ agreement, whichever is earlier
Repayment will start from next month of the date of disbursement.
Security
Primary: - Assignment of Future cash flow/receivables including lease rentals, service charges. Agency Commission, Minimum Guaranteed Amount etc.
Collateral: - Equitable Mortgage/ Pari passu charge of relative immovable property having market value not less than 125 % of the proposed loanIf the equitable mortgage of relative immovable property is not possible, for any valid reason whatsoever, the mortgage of any other property as security with market value not less than 150% of the proposed loan be insisted.
Or
100% value of NSC/Bank's own deposit etc.
Or
125% cover partly by immovable relative property and partly by security such as NSCs, Bank's own deposit etc.
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