Mumbai City Financial Advisor



Lease Rent Discount is another method to obtain finance from bank or other lending institutes. Lease Rent Discount (LRD) consideration is between the borrower who owns the premises, the tenant who has rented the said premises or taken on lease and the bank or financial institute or Corporate. The rent is considered as fixed income over a stipulated time ie. Lease or rent period or tenure. The agreement is between the borrower and lender and the major term of repayment is the rent is directly deposited with the lender and not with the borrower. The Borrower is sanctioned a loan based upon the rent to be collected over the period of lease.indexia finance lease rental discounting

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Process Personal interview /discussions is held with the customers by the bank’s officials. Bank’s Field Investigation team visits the business place/work place of the applicant. All the documents submitted are verified by the bank with the originals so as to ensure the authenticity of the same. Bank verifies the track record of the applicant with the common information sharing bureau (CIBIL). In case of fresh projects the bank analyses the back ground of the applicant/firm/company and the Technical feasibility / financial viability of the project based on various parameters and also the existing market conditions. Depending on the size of the project the file is put up for sanction to the appropriate level of authority.

  • Charges
  • Criteria
  • Documents

The Rate of interest alone should not be judged before you finalise your application. Apart from the rate of interest, Personal Loan also constitutes other charges levied by the lender which affect the overall cost of your loan & should be considered while comparing it across banks. Following are the lists of charges

  • Banks charge borrowers with a fee when they pay the loan EMIs before the tenure which normally is between 2-5% of the outstanding loan amount.
  • When there is a delay in paying your monthly EMI of your loan, banks charge a late payment fee with your EMIs. They normally range from 2-3% of the EMI.
  • These are the charges for verifying the borrower’s documents to processing the loan application. These vary from Rs.500 – Rs.3000.You should note that the above charges vary across different banks. You should consider these charges before choosing personal loan as they will determine its real cost.
  • You should note that the above charges vary across different banks. You should consider these charges before choosing personal loan as they will determine its real cost.

MOA & AOA copy / Partnership Deed / For proprietorship firm – registration certificate or Business Proof (List of Directors/ Partners & Shareholder Pan card copy of Company Business Proof (Shop & Establishment Certificate, VAT, Sales Tax, GST, Service Tax, IEC GST certificate of the Company

  • Self-employed
  • Salaried

In addition to the above factors banks also consider other aspects such as age, work experience, existing relationship with the bank, repayment capacity etc.To find your eligibility Criteria across various banks in accordance with the above parameters. Loan Ka Setting has brought in the Eligibility Criteria Check for Personal Loan seekers.

The documentation process in personal loan is very fast as against secured loans. Following documents are required by financial institutions to process the loan application

  • Passport size photograph
  • Copy of PAN Card
  • Copy of Adhar Card
  • Current Residence Proof
  • Permanent Address Proof
  • Latest 3 months Salary Slip
  • Latest 3 to 6 months Bank Statement of salaried Account

In case of self-employed banks require balance sheets, profit & loss account, partnership deed & other mandatory documents etc.