Learn more about our Home Rent Loan Scheme under TMB Retail Loan Products.
This loan product can be used to avail loans against future rental receipts of your properties. The rent received every month is used as the EMI towards the loan sanctioned. Any Lessor having a residential / commercial property which is currently rented to MNC / Banks / Reputed Corporates etc. can apply for loan under this scheme. Loans can be availed for 36 months or residual lease agreement whichever is less for upto Rs. 50 Lakhs.
For a House Rent Loan of Rs. 5,00,000 repayable in 60 equal monthly installments at an interest rate of 12.85% p.a., the equated monthly installment (EMI) payment shall be around Rs. 11,338.18. Click for Monthly Amortization Chart.
All the above Terms and Conditions are subject to change and sanctioning of the loans is at the sole discretion of the Bank. Service Tax on All Service Charges extra wherever applicable.