Lease Rental Discounting Loan Bajaj Finserv

Bank Loan  Updated date : November 22, 2017 56

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.

Benefits of Lease Rental Discounting

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 facility

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:

EntityPart pre-payment amountTimeCharges
Individual borrowersNot less than the total of 3 EMIsAfter 1 monthNil
Non-individual borrowersLess than 25% of sanctioned loan amountAfter 1 monthNil
More than 25% of sanctioned loan amountUp to 2 years4% plus applicable taxes on principal outstanding*
From 2 years to 4 years2% plus applicable taxes on principal outstanding*
After 4 yearsNil

*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 facility

You get the option to foreclose your loan anytime during your loan tenure. Foreclosure charges will be applicable if you choose to foreclose your loan within 48 months of taking the loan. After 48 months there will be no charges. Refer to the below mentioned table:

EntityTimeForeclosure charges

Individual borrowersMore than 1 monthNil
Non-individual borrowersUp to 2 years4% plus applicable taxes on principal outstanding*
From 2 years to 4 years2% plus applicable taxes on principal outstanding*
After 4 yearsNil

*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 saver

As an existing customer, you can avail of the unique Flexi saver facility. Bajaj Finserv is the first non-bank in the country to offer a unique and innovative capability, offering you a combination of Term Loan and Credit Line facility with unique feature 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!

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

Lease Rental Discounting Loan Documents required

  • Application form
  • Photograph of Partner/Director
  • Identity proof
  • Signature proof
  • Certificate of Incorporation
  • IT returns & balance sheet & P/L account statement for the last 2 years
  • Bank account statement for the 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.

Lease Rental Discounting Loan Fees and Charges

Processing feesUp to 2% of the loan amount
Loan statement chargesNil
Interest and principle statement chargesNil
PDC swap chargesNil
EMI bounce chargesRs.1000 for every bounce
Penal interest2% p. m.

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