1 | 2
Q. Who is the loan meant for?
The product is designed to finance the business needs of:
- Sole Proprietors / Proprietorship firms
- Partnership Firms
- Pvt. Ltd. and Public Limited Companies
- Professionals – Doctors, Architects, Chartered Accountants, Business Consultants
Business entities in the turnover range Rs. 90 lakhs to 110 Crores are eligible.
Q. What is the maximum loan amount offered for LRD?
You can avail a maximum loan of Rs. 22 crores subject to eligibility conditions being met.
Q. What is the maximum tenure of the loan??
The maximum tenure for which you can avail the facility is determined by the lease tenor and is capped at 12 years.
Q. What do I need to give as security?
Rent receipts are payable by the tenant directly to an escrow account with SCB.
The underlying tenanted property, which may be commercial property or quasi commercial property will be taken as collateral. No plot, self construction or under construction properties will be allowed.
Q. What is the interest rate on the facility?
We offer attractive interest rates on the facility depending on loan amount, credit assessment and other parameters. Further details will be provided by our sales officer.
Q. What are the basic documents required for applying for the facility?
- Lease Agreement
- Bank statements for last 6 months
- 2 year financials including Profit & Loss (P&L) Statement , Balance sheet and Income Tax returns.
- Documents related to establishment of entity, identity and address proof documents.
- Property title documents
Specific details would be provided by the Relationship Manager.
1 | 2
Note: The FAQs have been prepared for general information only and are subject to change. The ultimate aim of the FAQs is to extend the availability of the information about the product in simple and readable manner and should not be construed as a comprehensive feature of the product.
