Overview of Product
Loan Against Rental Income in Bangalore, India:
Looking to expand your Bangalore property portfolio but need funds? Look no further than a Loan Against Rent Receivables (LARR) facilitated by Grab Capital! This strategic solution allows you to leverage your existing rental income as collateral, fueling your real estate ambitions.Benefits of Loan Against Rent Receivables with Grab Capital:
- Competitive Rates: Secure financing at attractive interest rates to maximize your investment returns.
- Unlock Equity Potential: Access up to 70% of your rental property’s value, providing capital for new acquisitions.
- Streamlined Process: Grab Capital simplifies the LARR application process, getting you the funds you need quickly.
Considering a Loan Against Rent Receivables?
Here are some key details to keep in mind:- Minimum & Maximum Loan Amounts: Contact Grab Capital for personalized eligibility requirements and loan amount details based on your specific property and rental income.
- Loan Against Rent Receivables Calculator: While there isn’t a one-size-fits-all calculator, Grab Capital can help you estimate your potential loan amount based on your property’s value and rental income.
Grab Capital – Your Bangalore Loan Against Rent Receivables Facilitator
Grab Capital goes beyond just facilitating loans. They can guide you through the pros and cons of leveraging Loan Against Rental Income to ensure you make well-informed investment decisions for your Bangalore properties.Loan Against Rental Income Interest Rate in Bangalore, India
| Name of Lender | Interest Rate | |
|---|---|---|
|
SBI
|
9.25% onwards |
|
|
HDFC Bank |
9.25% onwards |
|
|
LIC Housing Finance |
9.25% onwards |
|
|
Kotak Mahindra Bank |
9.25% onwards |
|
|
ICICI Bank |
9.25% onwards |
|
|
Punjab National Bank |
9.25% onwards |
|
|
Bank of Baroda |
9.25% onwards |
|
|
IDFC First Bank |
9.25% onwards |
|
|
Axis Bank |
9.25% onwards |
|
|
Godrej Housing Finance |
9.25% onwards |
|
|
Canara Bank |
9.25% onwards |
Why Choose Grab Capital ?
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Loan Against Rental Income EMI Calculator
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Eligibility Criteria for Loan Against Rental Income in Bangalore, India
Our Financing against Rental Income eligibility criteria at Grab Capital are thoughtfully crafted to simplify the application process, ensuring a hassle-free experience for you.
- You should be aged between 24 to 65 years
- Should be Salaried or Self Employed with rental income
- Credit score should be above 750
- Property is currently rented out and generating income.
- Property is built according to a plan approved by the local government authorities.
- Property has a confirmed rental or lease agreement between the owner and the tenant(s)
- The owner and the tenant(s) are creditworthy as per the standards of the bank
Documents required for Loan Against Rental Income in Bangalore, India
At Grab Capital, we prioritize your convenience. Our Financing against Rental Income application process is streamlined, requiring minimal documentation.
- Loan Application Form
- Recent Photograph
- Identity Proof (e.g., Passport, Driver's License, Aadhar Card)
- Residence Proof (e.g., Utility Bill, Lease Agreement)
- Latest 3 Months' Salary Slips
- Form 16/ITR or Latest 3 Years' Income Tax Returns
- Latest 6 Months' Bank Statements
- Processing Fee Cheque
- Property Documents and Rental lease agreement
Note: Please be aware that the list of eligibility and documents mentioned above for the fund is not exhaustive. Additional documentation may be necessary as part of the application and processing requirements.
Ready to Secure Your Funds?
Your Eligibility Is Confirmed, It’s Time to Apply for the Funds You Need to Achieve Your Financial Goals!
FAQ's
Frequently Asked Questions
A Loan Against Rent Receivables (LARR) is a loan secured by your expected rental income from a leased property. Instead of borrowing based on your credit score, the loan amount is determined by the value of your future rent payments. Grab Capital can help you facilitate securing a LARR in Bangalore, India.
Properties such as shops and offices are eligible collateral for this financing.
Financing against Rental Income (LARI) allows property owners to leverage their rental income as collateral for financing. This income is used to determine the financing amount, which is repaid over a specified tenure from the rental earnings.
The financing tenure for Financing against Rental Income (LARI) typically varies among lenders and can range from a few years to a more extended period, often depending on factors such as the financing amount, rental income, and the lender’s policies.
The financing amount for Financing against Rental Income (LARI) is determined based on the property’s rental income, lease agreements, tenant creditworthiness, and lender policies. It’s typically a percentage of the rental income, allowing property owners to comfortably repay the financing.
These terms are often used interchangeably. LARR is the more technical term, but “Loan Against Rental Income” is easier to understand.
The minimum loan amount can vary depending on the lender, but it’s generally between ₹2 lakhs and ₹5 lakhs. Grab Capital can connect you with lenders offering competitive minimums for your situation.
The maximum loan amount typically depends on the lender’s assessment of your property value, rental income, and creditworthiness. Grab Capital can help you find lenders offering the highest potential loan amounts based on your specific circumstances.
Grab Capital can simplify the process of finding the right lender for your LARR needs in Bangalore. They can help you navigate eligibility requirements, gather necessary documents, and secure the most favorable loan terms.