Loan against rent receivables can be availed by individuals for personal and emergency expenses.
To meet financial requirements
If the tenure of the loan is less than 36 months, the interest rate will be the base rate plus 2.5%. Currently, the rate stands at 12.75%. If the tenure of the loan is more than 36 months, the rate of interest applicable will be the base rate plus 2.5% plus 0.25%, which means that the rate at present is 13%.
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