Punjab National Bank Business Loan Against Future Lease Rental
This loan is designed to help property owners who have leased out their properties in the metro, urban, semi-urban areas to public sector undertakings, reputed private education institutions, reputed private hospitals or nursing homes, franchises of reputed corporates, etc. to get funds for their various needs.
Features of Punjab National Bank Loan Against Future Lease Rentals
Why this Loan?
- The PNB Loan Against Future Lease Rentals is the perfect business loan to help landlords meet the expenses of alteration, addition or renovation to the premises but not for speculative purposes
- The maximum loan amount depends on the Net Present Value of net rent receivables within the unexpired period of lease or loan tenure, whichever is lower
Loan Amount
- Loan Tenure up to Rs. 5 lakh: The loan amount should not exceed the value of the property mortgaged
- Loan Tenure Above Rs. 5 lakh: The loan amount should not exceed 75% of the value of the property mortgaged
Interest
- The interest rate for Punjab National Bank Loans is defined as the sum of two factors, namely: one-year Marginal Cost of Funds based Lending Rate (MCLR) of PNB and Credit Risk Premium based on the risk rating of the borrower
- As of April 2020, the interest rate charged by the bank for this loan is not mentioned on the bank’s website. We suggest getting in touch with a bank representative to know the details
Repayment & Moratorium
- This loan must be repaid within 12 years or total lease period considered for arriving at the loan amount, whichever is earlier
- Please check with the bank to know the moratorium period for this loan, if any. As of April 2020, the information regarding the moratorium is not available on the bank’s website
Security Needed
- The bank asks for assignment of lease rentals and a personal guarantee of promoter directors
Eligibility
- The property owners who have leased out the properties to public sector undertakings, reputed private education institutions, reputed private hospitals or nursing homes, franchises of reputed corporates, etc. are eligible for this loan
Borrower’s Contribution to Total Cost (Margin Money)
- As of April 2020, these details are not mentioned on the bank’s website. We suggest getting in touch with the bank to get more information
Documents Needed for Individuals
- Loan Application Form duly filled and signed by the applicant and co-applicant, if any
- Two Passport Size Photographs of applicant and co-applicant
- Personal ID Proof: Aadhaar Card, PAN Card, Passport or Driving License. PAN Card / PAN Card Issuing Letter is must
- Signature Proof: PAN Card, Banker’s Verification, Driving License or Passport
- Residential Address Proof (Any One): Aadhaar Card, Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
- Income/Banking Proof: Last 6 months Bank Account Statement of applicant and co-applicant, Loan Statement of Running Loans, Latest Closed Loan NOC, Net Worth of the applicant and co-applicant
- Security (as applicable): Margin Money, Previous and Current Sales Deed, Plant and Machinery list, Plant and Machinery Current Valuation Report, Property Photographs, Previous Property Search and Valuation Report
Documents Needed for Proprietorship and Partnership Firms
- Loan Application Form duly filled and signed
- Partnership Deed and Partnership Registration Certificate
- ID Proof of the Firm: Firm PAN Card or PAN Issuing Letter
- Office Address Proof: Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
- Income Proof: CMA Data and Project Report, Debtors and Creditors Certificate, GST Return, Last 3 years ITR of applicant and co-applicant, Audited or CA Certified Computation of Income/Trading Account/Profit and Loss Account/Balance Sheet, Annual Audit Report and Tax Audit Report if audited, Form 16A if applicable, Net Worth of applicants, co-applicants and guarantors
- Banking Proof: Last 1-year Statement of Company’s Major Account, Current Account, Cash Credit Account, Overdraft Account, Loan Statement of Running Loans, Latest Closed Loan NOC and Last 6-months Bank Statement of Applicant and Co-applicant’s Savings Account
- Security (as applicable): Margin Money, Previous and Current Sales Deed, Plant and Machinery list, Plant and Machinery Current Valuation Report, Property Photographs, Previous Property Search and Valuation Report
- Other Relevant Documents: Partnership’s Business Profile, Promoter/Guarantor’s Profile, Corporate Brochure, Business Experience Supporting Documents, Business References
Documents Needed for Private Limited and Public Limited Companies
- Application Form duly filled and signed
- Company ID Proof: Company’s PAN Card
- Office Address Proof: Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
- Business Proof: AOA and MOA, Company Incorporation Certificate, Business Commencement Certificate, Board Resolution, CA/CS verified Share Holding Pattern, ROC Annual Return, DIN Certificate, List of Directors on Company Letter Head, GST Number, Form 32 in case of Director Change
- Income Proof: CMA Data and Project Report, Last 3 Years ITR Acknowledgement copy of Company and all Directors, Last 3 Years Annual Credit Report or Tax Audit Report with Article 3CB, Article 2D, Article 3CD, TDS Certificate/Form 16A, Net Worth Certificate
- Banking Proof: Last 1-year Statement of Company’s Major Account, Current Account, Cash Credit Account, Overdraft Account, Loan Statement of Running Loans, Latest Closed Loan NOC and Last 6-months Bank Statement of Applicant and Co-applicant’s Savings Account
- Security (as applicable): Margin Money, Previous and Current Sales Deed, Plant and Machinery list, Plant and Machinery Current Valuation Report, Property Photographs, Previous Property Search and Valuation Report
- Other Relevant Documents: Company’s Business Profile, Promoter/Guarantor’s Profile, Corporate Brochure, Business Experience Supporting Documents, Business References
Reference Facts
- Punjab National Bank Website: www.pnbindia.in and www.netpnb.com (net banking)
- Headquarters: Dwarka, New Delhi
- Call Centre Toll-Free Number: 1800 180 2222, 1800 103 2222