It is common these days to get call from various banks offering personal loans. It is quite likely that these irritates you, if you are not interested in taking a personal loan.

While some individual with money need go for personal loans with no collateral can go in for a personal loan , those with properties let out on rent have a better option. They can check out with banks for loans against the future recievable rent of such a property.

Such loans are now offered by most state-owned banks at lower than or little above benchmark prime lending rates .The foremost criteria for getting such a loan that the loan is available only in case of properties that have been leased out to public sector undertakings , banks or reputed private companies.In any of these cases, the loan amount does not exceed the future recievable rent of the property minus margin money- which could vary from 20% to 25% of the future rent of the unexpired period of lease.

In the absence of another immovable property or low value of the leased out property or if the landlord is unwilling to mortgage the leased out property, banks can also ask for a mortgage on any other liquid asset.
In any case , even though such loans require the landlord to furnish a mortgage , this turns out to be a cheaper than a personal loan.

"The foremost criteria for getting such a loan is that it is available only in case of propertiesthat have been leased out to PSUs , banks or reputed private companies. In any of these cases, the loan amount does not exceed the future recievable rent of the property minus margin money."
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