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Lease Rental Discounting Loan Overview
Loan on Lease Rental
If you own a property, you are liable to earn fixed rentals from the same at regular intervals. With Lease Rental Discounting from Nitstone Finserv, you can now get a loan on the discounted value of rentals and the underlying property value.
Tenure
Lease rental discounting is a great way to generate funds from owned assets and use them for further investments. Leasing is done for a specific period of time. Lease agreement should not be less than 6 month old.
Benefits & Features
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
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.
Flexi saver
As an existing customer, you can avail of the unique Flexi saver facility. Nitstone 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.
Foreclosure facility
You have the option to close your facility anytime during the tenure. Foreclosure fees apply if closure is requested within 48 months from disbursement. After 48 months, no charges apply. Online Account Access You can check your account information and manage your facility securely through our Customer Portal. Log in using your User ID/ Mobile Number/ Email and Password. Part prepayment facility Whenever you have additional funds, you may prepay a portion of your outstanding amount, which may reduce overall tenure/EMIs. Charges apply if repayment exceeds 25% of the sanctioned amount. No charges apply for repayments up to 25% in a financial year. This facility is available after the first EMI. Flexi saver Eligible customers may access the Flexi saver facility. Nitstone Finserv offers a structured option combining a Term Loan and Credit Line with features designed to optimise interest outflow and support cash flow management.
Eligibility & Documents
Lease Rental Discounting Eligibility :
- Lease Rental Discounting Eligibility
- You are an Indian Resident
- You are at least 25 years old at the time of sanction
- Minimum facility amount is Rs.10 crores
Documents required:
- Application form
- Photograph of partner/director
- Identity proof
- Signature proof
- Certificate of incorporation
- IT returns & balance sheet & P/L account for the last 2 years
- Bank account statement for the last 6 months
- Partnership deed
- MOA/AOA
- Lease deed/ Leave and license agreement
Ready to Apply
Apply NowHow to Apply
Step 1
Click on Apply to access our online form. Complete the details and submit the application.
Step 2
A Nitstone representative will review your application and contact you to discuss the next steps.
Step 3
Provide the required documents for verification.
Step 4
Loan processing will proceed according to standard verification and approval procedures. T&C*
Fees & Charges
| Types of fees | Charges applicable |
|---|---|
| Processing fees | Up to 2% of the loan amount |
| Loan statement charges | NIL |
| Interest and principle statement charges | NIL |
| PDC swap charges | NIL |
| EMI bounce charges | Rs.1000 for every bounce |
| Penal interest | 2% p. m. |
Foreclosure charges
| Borrower Type: Interest Type | Time Period (Months) |
Foreclosure charges |
|---|---|---|
| NA | >1 | 4% plus applicable taxes on principal outstanding * |
- Foreclosure: charges will be applicable on the current principal outstanding.
- Foreclosure charges for line of credit and Flexi loans will be calculated on the Current principal outstanding.
Part prepayment charges
| Borrower Type: Interest Type | Time Period (Months) |
Part payment charges |
|---|---|---|
| NA | >1 | 2% plus applicable taxes on part payment amount paid |
- Part payment made should be more than 1 EMI
- Nil part payment charges for flexi