Cent Rental
Cent Rental is designed for financing property owners for business or any personal requirements. You can get a financing of up to Rs.10 crore with this facility at attractive rates starting from 10.25% p.a. You can take this loan for a maximum period of 10 years. The processing fee charged is 1% of the loan amount plus applicable taxes.
Interest Rate |
|
Processing Fee | 1% of the loan amount (max. Rs.3 lakh) |
Features and Benefits
- Attractive interest rates starting from 9.65% p.a.
- Repayment tenure of up to 10 years
- Every month, the entire portion of monthly rent receivables will be credited to your loan account
- You have to pledge 100% of the proposed home loan in case the loan is repayable within 3 years
- You have to pledge 133% of the proposed home loan in case the loan repayable is exceeding 36 months
- You have to pledge 200% of the proposed home loan in case there's any issue in coming to an agreement with the tenants to get future rentals
- Financing of up to 75% of future lease rental receivables
How to Calculate EMI for Cent Rental Loan Scheme
Your monthly instalment or EMI depends on multiple factors including the loan amount, tenure, and interest rate. In order to calculate your monthly instalment amount, you can take help of Home Loan EMI Calculator.
The entire process of computation is quite simple and hassle-free with a quick turnaround time. All you need to do is enter details pertaining to your home loan, including the loan amount, tenure, processing fee, and interest rate. Upon completion, click "calculate" to check your EMI.
You can also view repayment schedule through a table.
Eligibility Criteria
- Property owners
- Should be between 23 years and 70 years of age
If you are a property owner and have your documentations ready, getting this loan won't be that difficult. However, make sure that you have read the fine print thoroughly before signing up.
FAQs on Cent Rental
1.What is the processing fee of Cent Rental?
The processing fee of Cent Rental is 1% of the loan amount.
2.What is the repayment period of Term Loan?
The Term Loan must be repaid within 120 months or before the unexpired lease period (whichever is shorter).
3.What is the interest rate offered on Cent Rental?
The interest rate offered on Cent Rental ranges between 9.65% p.a. and 10.15% p.a.
4.What is the margin of financing I can get through Cent Rental?
You can get financing of up to 75% of the future lease rental receivables.
Annie Jangam is a financial writer with a unique background in biotechnology and eight years of genomics research experience, culminating in 6 international publications. She combines her analytical and communication skills to simplify complex financial concepts, delivering precise and creatively engaging content in the fintech industry. She covers various financial products such as banking, insurance, credit cards, tax, commodities, and more. Outside of the financial realm, she dabbles in poetry. Her extracurricular passions include organizing events like One Billion Rising and Human Rights Day. She is committed to the equality of all people, a principle rooted in her Christian faith. Annie strives to embody the values of faith, hope, and love in both her work and her life.
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