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Owning a property in India is a safe and secure income source, but individuals who wish to get the most out of it can take a loan against rentals from Capital Local Area Bank. The largest local area bank in India, CLAB offers this unique loan to maximise asset use, helping one progress faster. With a banking history of over 15 years and a presence in three districts, Capital Local Area Bank was set up to promote financial inclusion among local residents, providing modern banking facilities at affordable costs. The bank is today scheduled to grow to greater heights, with expansion on the anvil, taking the number of branches close to 50.
With the real estate sector booming in India, there is a huge scope to develop spaces and turn them into hubs. This loan against rentals can be used to meet any financial requirement while constructing a commercial property or to develop a new space. Owners of commercial property can avail this loan against their future rent receivables to meet any genuine financial need, with no restriction on its use as long as it stays within the ambit of the law.
Individuals who wish to avail a Capital Local Area Bank loan against rentals need to satisfy the following basic criteria.
Some of the major features and benefits of this loan are mentioned below.
Individuals who wish to avail this loan need to submit the following documents.
The bank could ask for additional documents as per its discretion.
Note: The interest rate is subject to change at the sole discretion of Capital Local Area Bank and individuals should check these before applying.