Overdraft facility available
Flexibility in use of funds
Easy EMI payment
Pay interest only on the funds you use
Funds can be used for business, education, marriage, etc.
EMI is deducted directly from the rent
ICICI Bank Lease Rental Discounting
Leverage your property rental receipts to meet business and personal goals.
With Lease Rental Discounting, you can utilise rent received from your commercial property to avail of loan for your business, working capital or personal needs.
Moreover, there is no additional outflow of money as Equated Monthly Instalment (EMI) is recovered directly from the rent.
The eligibility criteria for you to avail ICICI Bank Lease Rental Discounting depends on the following factors:
|Loan type||Lease Rental Discounting|
|Loan Amount||Rs 1 lakh – Rs 3 Cr|
|Eligible profiles||Salaried & Self-Employed|
|Tenure||Up to 10 Years (Subject to the balance lease period or renewable period )|
Lease Rental Discounting Interest Rates
|Up to 50 L||RR +5.15% (10.30%)||RR +5.25% (10.40%)|
|50 L - 1 Cr||RR+5.10% (10.25%)||RR +5.20% (10.35%)|
|More than 1 Cr||RR +5.05% (10.20%)||RR +5.15% (10.30%)|
Note:Priority Sector Lending (PSL) & Non Priority Sector Lending (Non PSL)
Repo Rate (RR) is 5.15% as on October 4, 2019
Lease Rental Discounting Fees & Charges
|Loan type||Lease Rental Dscounting|
|Loan Processing Charges / Renewal Charges||2.00 % + AT*|
|CIBIL Report Charges||Rs. 50 + AT*|
|Administrative Charges||Rs. 5000 + AT* or 0.25% + AT (whichever is lower)|
|Prepayment Charges||4.00 % + AT*|
Frequently Asked Questions (FAQs)
Can I avail of this loan against the rent from a residential property?
No, Lease Rental Discounting (LRD) can be offered only against the rent received from a commercial property.
What is the tenure which can be offered for LRD?
The maximum tenure we offer is up to 15 years. However, the actual tenure offered will depend on the remaining lease tenure as per your lease agreement with the lessee.
What is the maximum amount of overdraft which can be funded?
Up to 90% of the loan amount can be offered as an overdraft and the remaining amount will be a term loan. EMI is payable on the term loan amount and on the overdraft limit, you need to pay interest due based on the monthly utilisation.
What type of documents pertaining to the lease do I need to submit?
For assessing the lease, copies of the executed lease agreement and bank statement reflecting the rental credits have to be provided additionally, along with other documents as required for the loan application.
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