Asset Backed Loan - Commercial Real Estate

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Asset Backed Loan - Commercial Real Estate
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Purpose

Creation/acquisition of real estate such as office buildings, retail space, industrial or warehouse space, multiplex, hotels, restaurants, gymnasium, amusement parks, cold storage etc. where the prospect for repayment would generally be lease or rental payment or sale of asset. For both working capital (including pre-operative expenses) and acquisition of fixed asset.

Features

  • Target Group : Proprietorship/ Partnership/ Company/ LLPs.
  • Quantum of loan (Min/Max) : Minimum loan amount: > Rs.10 lacs.
  • Maximum loan amount:
    • Metro & Urban Centres: Rs.50 Crs
    • Semi-Urban Centres: Rs.20 Crs
    • Rural Centres: Nil.
  • LTV (%): Immovable property: 50% of the realisable value.
  • Margin (%) : 25% both for working capital and acquisition fixed assets.
  • Pricing : Competitive pricing linked to MCLR (6 months) / EBLR
  • Repayment Period : 
    • 12 months to 72 months, including the moratorium period.
    • However, if the repayment is coming from rental income, based on cash flows the loan can be sanctioned upto 120 months.
    • Interest to be serviced monthly during the period of moratorium also.

  • Upfront Fee/Processing Fee: 1% of the limits (Upper Cap: Rs.10 Lacs)


Eligibility Criteria

  • Existing customers who have already availed credit facilities from us.
  • New units with marketable assets to offer as security.
  • Takeover of existing units from other Bank/FIs permitted with satisfactory track record (Credit information report to be obtained), subject to complying with takeover norms mentioned under “Takeover criteria’ parameter.

Collateral Security

Immovable property (compliant under SARFAESI Act) belonging to Unit, its proprietor/partners/directors or their near relatives, in the name of Associate units with common partners/directors or their near relatives.


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Last Updated On : Thursday, 14-07-2022

Interest Rates

8.50%* p.a.

w.e.f. 09.03.2023

*T&C Apply.

 

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