Loans will be sanctioned to the owners of residential / commercial properties which are rented out/ leased out or proposed to be rented / leased out for commercial purposes (other than residential purpose) ( Buildings rented out / leased out to hospitals, clinics, nursing homes, hostels, orphanages, old age homes, religious purposes, etc. will not to be considered)

•  Purpose of the loan is basically to meet temporary liquidity mismatch . The loan amount can be utilized for any purpose viz., personnel use as well as business purposes. No restrictions;
• Loan shall be granted by way of Term Loan
• Minimum loan amount : Rs. 5 lacs (i)
• Maximum loan amount : Rs. 50 lacs (ii)
•  75% of 60 months rental / lease income (iii)
• 75% of the realizable value of the property (iv)
• Lower of the above (i) to (iv)
• Repayment : In monthly instalments coinciding with lease period / No. of months considered for arriving at the eligible loan amount.
• Security : Assignment of rentals ( the lessee shall sign the prescribed letter / document) mortgage of lease property and personal guarantee of spouse.
• Conditions : (i) Rental shall be deposited in the escrow account maintained with the society. (ii) Loan amount will be released only when minimum one month rent is paid by the lessee and occupies the premises.