Dhanam Lease Rental Discounting Scheme to consolidate your debts from Dhanlaxmi Bank.

Unleash the power of your let out or leased property to consolidate your debts

Dhanlaxmi Bank Dhanam Lease Rental Discounting (Loan Against Rent Receivables)

This loan helps property owners who have let out/leased their property situated in metro, urban or semi-urban areas to credit-worthy establishments to get financial assistance to meet their personal needs. This loan can also be used to consolidate debts.

Features of Dhanam Lease Rental Discounting (Loan Against Future Lease Rentals)

Why this Loan?

  • The Dhanlaxmi Bank Dhanam Lease Rental Discounting is let out or leased their property situated in metro, urban or semi-urban areas to government units, semi-government units, public sector undertakings, financial institutions, reputed corporations, multinational companies, etc. get access to funds to meet their personal needs
  • This loan can be availed to meet the financial needs for business expansion, education expenses, wedding expenses, purchase of a new property, repayment of existing loans, consolidate debts, etc. It cannot be used for trading, capital market or speculative reasons

Loan Amount

  • The maximum loan amount sanctioned under this scheme depends on the rent receivables for the unexpired period of lease and the repayment capacity of the borrower

Interest

  • The interest rate applicable to this loan is defined as the sum of two factors: one-year Marginal Cost of Funds based Lending Rate (MCLR)/Repo Linked Lending Rate (RLLR) and a Spread factor. As of October 2020, the one-year MCLR of Dhanlaxmi Bank is 8.90% and RLLR is 7.00%. The Spread factor is decided by the bank based on different factors including the credit score of the borrower

Repayment

  • This loan must be repaid within 10 years or the unexpired lease period, whichever is less

Security Needed

  • The bank asks for the assignment of future rent receivables in favour of the bank
  • The bank may also ask for liquid collaterals depending on a case-to-case basis

Margin Money (Borrowers Contribution to Total Cost)

  • As of October 2020, this information is not mentioned on the bank’s website. Please call the bank customer care number to know more details

Processing Charges

  • The bank charges 1.50% of the loan amount subject to a maximum of Rs. 10,000 for processing the loan

Documents Needed

  • 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 proof, income tax assessment or IT return documents of the borrower
  • Property related documents including lease deed, approved building plan, etc.

Reference Facts:

  • Dhanlaxmi Bank Website: www.dhanbank.com
  • Headquarters: Thrissur, Kerala
  • Call Centre Toll-Free Number: 0487 6613000