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Mahabank Realty Finance
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| Finance against rent receivables
(Mahabank Realty Rentals) |
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Purpose : |
For meeting business requirements / personal needs |
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Eligibility : |
Individuals / Partnership firms / Ltd. Companies , owning commercial buildings/premises, let out on long term lease and who desire to raise loans against the future rent receivables. |
| Amount of Loan : |
Minimum Rs.5.00 lakhs
Maximum For properties located at Metros:Rs, 3.00 crores For properties located at other centres:Rs 1.00 Cr. |
| Margin : |
25% of the amount of rent receivables (net of taxes) during loan period |
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Rate of Interest : |
BPLR - 1.25% i.e 10.25% p.a at present |
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Security : |
Hypothecation of lease / rent recivables.Power of attorney for collection of lese / rent recevables. Power of attorney for collection of lese / rent recivables and mortgage of the proprty. |
| Repayment |
By equated monthly instalment maximum within 7 years. |
| Processing charges |
0.60% of the loan amount |
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| Finance against mortgage of self occupied property
(Mahabank Realty Mortgages) |
| Purpose : |
For meeting business requirements / personal needs |
| Eligibility : |
Individuals, Propreitorship, Partnership firms, Pvt.Ltd. Companies owning properties which are unencumbered and under self occupation |
| Amount of Loan : |
Minium Rs. 1.00 lakh Maximum for properties located at other centres Rs.50.00 lakhs For properties located at Metros:Rs 1.00 crore. |
| Margin : |
50% of the value of property |
| Rate of Interest : |
12.75%p.a |
| Security : |
Mortgage of the property |
| Repayment |
By equated monthly instalment maximum within 7 years |
| Processing charges |
0.60% of the loan amount |
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