Part prepayment and foreclosure facility | Loan up to Rs. 50 crore

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Home > Lease Rental Discounting > Features and Benefits

Lease Rental Discounting

Lease Rental Discounting

If you own a property, you are liable to earn fixed rentals from the same at regular intervals. With Lease Rental Discounting from Bajaj Finserv, you can now get a loan on the discounted value of rentals and the underlying property value.

Eligibility Criteria

Lease Rental Discounting Eligibility

  • You are an Indian Resident

  • You are at least 25 years of age when the loan is sanctioned

  • The minimum loan amount is Rs.10 crores

Documents Required

  • Application form

  • Photograph of partner/director

  • Identity proof (Any one) Voter's ID card / Driving license / Job card issued by NREGA / Aadhaar card / PAN card (PAN card only as -> identity proof)

  • Signature proof

  • Certificate of incorporation

  • IT returns & balance sheet & P/L account statement for the last 2 years

  • Bank account statements For last 6 months

  • Partnership deed

  • MOA/AOA

  • Lease deed/ Leave and license agreement

  • *Kindly note that the list of documents mentioned is indicative. During the loan process, additional documents may be asked for. The same will be appropriately communicated to you as and when required.

Fees and Charges

Types of Fees

Charges Applicable

Interest rate
8.85%
Processing fees
Up to 2% of the loan amount
Loan statement charges
NIL
Interest and principal statement charges
NIL
PDC swap charges
Nil
EMI bounce charges
Rs. 1,000 per bounce
Penal interest
2% p. m.

Lease rental discounting is a great way to generate funds from owned assets and use them for further investments. Read on to know more about other benefits associated with it:

Part-prepayment Charges

At times when you have some extra cash in hand, you can choose to pre-pay a part of your loan amount which would in turn reduce your overall tenure/EMIs.

Part prepayment charges will be applicable if you choose to prepay more than 25% of your sanctioned loan amount. However, no charges will be applicable for part prepayments done up to 25% of the loan amount in a financial year. This facility is allowed post clearance of your first EMI. After 48 months there will be no charges. Refer to the table mentioned below:

Entity

Part pre-payment amount

Time

Charges

Individual borrowers
Not less than the total of 3 EMIs
After 1 month
Nil
Non-individual borrowers
Less than 25% of sanctioned loan amount
After 1 month
Nil
 
More than 25% of sanctioned loan amount
Up to 2 years
4% plus applicable taxes on principal outstanding*
 
 
From 2 years to 4 years
2% plus applicable taxes on principal outstanding*
 
 
After 4 years
Nil

*Current principal outstanding and all amounts tendered by the borrower towards prepayment of the facility during the last one year from the date of final prepayment.

Foreclosure Charges

Entity

Time Period (Months)

Foreclosure charges

Individual borrowers
More than 1 month
Nil
Non-individual borrowers
Up to 2 yearss
4% plus applicable taxes on principal outstanding*
 
From 2 years to 4 years
2% plus applicable taxes on principal outstanding*
 
After 4 years
Nil

*Current principal outstanding and all amounts tendered by the borrower towards prepayment of the facility during the last one year from the date of final prepayment.

Flexi loan facility

As an existing customer, you can avail of the unique Flexi loan facility. Bajaj Finserv is the first non-bank in the country to offer this unique and innovative capability, offering you a loan limit from which you can withdraw money as per your needs, with unique features to save interest and manage cash flow efficiently.

Online account access

You can view all your loan account details and transact on your loan account on our Customer Portal. Log in with your User ID/ Mobile Number/Email and Password

Customized insurance schemes

Group credit protection plus from Bajaj Allianz

  • Non-Medical Loan & Life Insurance of up to Rs. 100 lakh

  • Level term Plan, which means you are covered for the complete amount despite reduction/ prepayment of loan amount

  • Coverage for the complete tenure of the loan up to a maximum of 30 years

Bajaj Allianz SFSP policy

Bajaj Allianz’ SFSP Policy offers a comprehensive insurance cover for your home (i.e. residential building) against various contingencies to ensure that your prized possession is always safe!
 

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