- Applicants should be bona fide owners of the leased property.
- The lessees shall be a reputed and established entity
- Maximum up to 120 months
- Mortgage of leased property or any other commercial/residential property.
- Equal/Equated Monthly Installments out of rent receipts.
- 20% on net rent receivables.
- View Latest Rate of Interest
- View Service Charges.
- Upfront charges will be collected (wherever applicable) towards legal, valuation, BIR etc.
Purpose:
- For repair, renovation, investment.
Amount of Finance:
- Up to 80% of the Net Rent Receivables OR net rent of residual lease period, whichever is less subjected to Maximum ₹500 Lakhs.
The above information is subject to terms and conditions.For more details, please contact the nearest Branch
Frequently Asked Questions (FAQs) for KBL- Lease n Cash
What is KBL-Lease n Cash?
KBL – Lease n Cash is the money borrowed from the bank for repair, renovation, investment etc.
What is the tenure of KBL-Lease n Cash?
Maximum 120 months.
What are the eligibility conditions for availing KBL-Lease n Cash?
- All Individuals who are resident of India and NRIs holding an Indian passport.
- Above 18 years of age.
- Maximum age limit is 70 years.
What security do I have to furnish?
- Mortgage of leased property or any other commercial/residential property be offered [Industrial and Agricultural properties are not permitted].
- The value of the Mortgaged Property shall not be less than 150% of loan amount.
What is a down payment/margin money?
Generally, banking & finance institutions finance upto 80% of the cost of the property bought. The remaining 20% of the amount is paid on an up-front basis, which is popularly known as the down payment/margin money.
How much margin money/down payment I have to give?
20% on net rent receivables.
What are the fees charged by the bank?
Processing fee/upfront fee (includes Legal, Valuation and Back Ground Information Report charges).
What is an EMI?
EMI or Equated Monthly Instalment is a fixed amount repaid by you to the bank on a specific date every month. The EMI's are fixed when you borrow money from the bank as a loan. EMI's are used to pay both interest and principal amount of a loan in a way that over a specific number of years, the loan amount is repaid in full to the bank along with interest.
What is EBLR?
EBLR stands for External Benchmark Lending Rate. Karnataka Bank has adopted 6 Months T-Bill (Treasury Bill) as the external benchmark to link its floating rate with effect from 01.10.2019.
