Multiple banks. Different interest rates. Call it a "conflict of interest".

    Dena Bank Rent Scheme (Finance Against Rent Receivables)

    Dena Bank offers the Dena rent scheme against their property rent to earn more money against their receivable rent. Hence, the amount that this is calculated on is not on the rented property evaluation but the payments made by the tenant to the property.

    Eligibility for Dena Rent Scheme (Finance against Rent receivables)

    You are eligible for this loan as long as you are:

    • Indian citizen
    • Assuming that you are over 18 years of age, considering you own a property that is leased.
    • A landlord whether an individual, corporate, trust or somebody giving their property on rent to banks, FIs, PSUs or reputed companies.

    Features of Dena Rent Scheme (Finance against Rent receivables)

    Here are the basic features of this scheme from Dena Bank for accounting professionals:

    • Minimum Loan Amount is Rs. 1 lakh
    • Maximum loan amount can go up to Rs. 500 lakhs.
    • The margin is allowed at 10% of the current value of the net rentals.
    • Rate of Interest for Dena Rent Scheme (Finance against Rent receivables)

    For the latest Interest rates that are applicable can be checked at interest rates sections. Note that the interest is charged based on computation of the daily reducing balance.

    • Security is taken as the equitable mortgage of property.
    • No prepayment charges are applicable on this scheme.

    Financial Specifics Dena Rent Scheme (Finance against Rent receivables)

    Process fees are chargeable at 0.50% and repayment up to 120 EMIs or residual lease period is payable whichever is the lesser of the two.


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