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Top List of Loan Against Rent Receivables in Chennai as on Oct 16, 2024

LAKSHANA FIN CORPS

West Mambalam, Chennai, 600033

+08048096670

Loans Home Loans Loan Against Property

+4 more

Response Time: Within 15 MinsSulekha score: 8.3

Welcome to LAKSHANA FIN CORPS, located in the heart of West Mambalam. Our company has been providing top-notch loan services since our establishment. With a team of dedicated employees, we offer a wide range of services including home loans, mortgage loans, non-CIBIL defaulter loans, and loans against property. Our working hours are flexible to suit your needs. Trust us to help you achieve your dreams of owning a new home or expanding your proper ... less

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MKN Loan

Chennai, Chennai, 600060

+07569004951

Loans Business Loans CC Limit Loans

+8 more

Response Time: More than 60 MinsSulekha score: 4.3

MKN Loan in Chennai offers a range of financial services, specializing in providing various types of loans to meet the diverse needs of their clients. They focus on quick and hassle-free loan disbursement processes, ensuring that customers receive funds in a timely manner. Their loan offerings include business loans, personal loans, and loans against property, catering to both individuals and businesses. MKN Loan is known for its customer-centric approach, with a dedicated team that assists clients in selecting the most suitable loan products based on their specific financial requirements. The business operates with a strong commitment to transparency, ensuring that there are no hidden charges or unexpected costs. With a responsive and professional team, MKN Loan has built a reputation for reliability and trust in the Chennai financial services sector.

Available Loan Types:

Offering 10 different types of loans

Loan Amount Range:

From ₹20 Lakhs to ₹1 Crore and above
Depending on the type of loan

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Dream World Realtors

Gingee, Villupuram, 604202

( Also serves in Chennai )

+08069874066

Loans Business Loans CC Limit Loans

+11 more

Response Time: Within 15 MinsSulekha score: 6.3

Dream World Realtors, based in Gingee, Villupuram, was established in 2014 and specializes in providing a wide range of real estate and loan services. They cater to various financial needs, offering home loans, business loans, mortgage loans, and even loans for individuals with non-CIBIL defaults. The company is known for its customer-focused approach, ensuring that clients receive personalized service tailored to their specific requirements. Dream World Realtors has built a strong reputation in the region, reflected in their 5-star rating from satisfied customers. Their services are available across Villupuram, and they are dedicated to making the loan acquisition process smooth and hassle-free?

Available Loan Types:

Offering 10+ different types of loans

Loan Amount Range:

From ₹1 Lakhs to ₹1 Crore and above
Depending on the type of loan

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BT Finance

Dahisar West, Mumbai, 400068

( Also serves in Chennai )

4.2/5 Based on 5 Reviews

+08035427389

Loans Business Loans CC Limit Loans

+12 more

Response Time: Within 30 Mins Sulekha score: 6.5

BT Finance, located in Dahisar West, Mumbai, is a reputable financial institution known for providing a wide range of loan services. They specialize in offering personal loans, business loans, home loans, and mortgage loans tailored to meet the diverse needs of their clients. With a commitment to customer satisfaction, BT Finance prides itself on its fast approval process and flexible loan terms, making it an ideal choice for individuals and businesses seeking financial assistance. Their team of experienced professionals is dedicated to guiding clients through the loan process, ensuring a smooth and efficient experience from application to disbursement

Available Loan Types:

Offering 3+ different types of loans

Loan Amount Range:

From ₹1 Lakhs to ₹15 Lakhs and above
Depending on the type of loan

Sabita chutiya Gogoi from Mumbai

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Pravendra Kumar from Mumbai

"My parsnol loan emergency sir/maim"

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Shri Vinayak Enterprises

Vaishali Nagar, Jaipur, 302021

( Also serves in Chennai )

Loans Business Loans CC Limit Loans

+12 more

Sulekha score: 7.8Working hours: 10 PM to 7 PM

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Dhamodharan K

Vadapalani, Chennai, 600026

5.0/5 Based on 1 Reviews

Loans Business Loans Home Loans

+6 more

Sulekha score: 7.3Working hours: 11:00 AM to 05:00 PM

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murugan from Chennai

"Good service, I am very satisfaction"

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KVR Financial Service

Vellore, Vellore, 632006

( Also serves in Chennai )

Loans Business Loans CC Limit Loans

+10 more

Sulekha score: 7.1

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Naresh Ramesh

Paye Gaon, Thane, 401404 ( Also serves in Chennai )

Loans Business Loans Car Loans

+17 more

Sulekha score: 7.1Working hours: 10 AM to 5 PM

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Sagar Enterprises

Malviya Nagar, Delhi, 110017 ( Also serves in Chennai )

1.0/5 Based on 1 Reviews

Loans Business Loans Car Loans

+19 more

Sulekha score: 6.6Working hours: 10 AM to 5 PM

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SMR Associates

Thiruvanmiyur, Chennai, 600041

Loans Home Loans Loan Against Property

+3 more

Sulekha score: 6.5Years of Experience: 24

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Why Choose Sulekha?

Sulekha is your go-to platform for finding a wide variety of loan providers catering to diverse financial needs such as personal loans, Loan Against Rent Receivables, home loans, vehicle loans, mortgage loans, education loans, and more. With Sulekha, you gain access to a comprehensive network of reputable lenders, ensuring you find the perfect match for your specific requirements. The platform simplifies your search process, saving you time and effort by connecting you with trusted professionals who can offer tailored loan solutions. Choose Sulekha for a seamless and efficient loan-seeking experience.

1. When to Consider Taking Out a Loan Against Rent Receivables?

Immediate Financial Needs: When you need immediate cash flow for personal or business expenses, leveraging your rent receivables can provide a quick source of funds.
Business Expansion: If you need capital to expand your business or invest in new opportunities, a loan against rent receivables can be a viable option without liquidating your assets.
Property Maintenance: When substantial repairs or renovations are needed for your rental property, this type of loan can fund the required improvements.
Debt Consolidation: If you have multiple high-interest debts, consolidating them into a single loan against your rent receivables can reduce your overall interest burden.
Cash Flow Management: When there's a mismatch between the timing of your income and expenses, a loan against rent receivables can help manage your cash flow more effectively.

2. Eligibility Criteria for Loan Against Rent Receivables

Ownership of Rental Property: The applicant must own a rental property that generates consistent rental income.
Lease Agreement: A valid lease agreement with the tenant(s) is required, typically for a duration that covers the loan period.
Property Valuation: The property should have a favorable valuation as determined by the lender's approved valuer.
Tenancy Record: A good tenancy record with a reliable and creditworthy tenant(s) enhances eligibility.
Rental Income Stability: Stable and sufficient rental income to service the loan, usually demonstrated through bank statements or rent receipts.
Credit Score: A good credit score and financial history are important for loan approval and favorable terms.
Age and Income: The applicant should be within the age limit defined by the lender and have a steady income source apart from the rental income.

3. Benefits and Advantages of a Loan Against Rent Receivables

Utilization of Idle Assets: Enables property owners to unlock the value of their rental income without selling the property.
Lower Interest Rates: Generally, such loans come with lower interest rates compared to unsecured loans due to the secured nature of the loan.
Flexible Repayment Options: Offers flexible repayment tenures and options tailored to the borrower’s financial situation.
Large Loan Amount: Higher loan amounts can be availed based on the rental income and property value.
Tax Benefits: Interest paid on such loans can be claimed as a tax deduction under certain conditions, reducing the overall tax liability.
Continuous Rental Income: The borrower continues to receive rental income even after pledging it for a loan, ensuring ongoing cash flow.

4. Important Factors to Consider When Taking a Loan Against Rent Receivables

Loan-to-Value (LTV) Ratio: Understand the LTV ratio offered by the lender. It typically ranges from 50% to 85% of the property value or rental income.
Interest Rates and Charges: Compare interest rates, processing fees, and other associated charges across different lenders to get the best deal.
Tenure and Repayment Terms: Choose a tenure that aligns with your financial situation and repayment capability to avoid financial strain.
Prepayment and Foreclosure Charges: Check for any prepayment or foreclosure charges as these can impact the overall cost of the loan if you plan to repay early.
Impact on Cash Flow: Consider how the loan repayments will affect your monthly cash flow and ensure that you can manage the financial commitment.
Legal and Documentation Requirements: Ensure all legal documents related to property ownership, lease agreements, and rent receipts are in order and meet the lender’s requirements.
Risk of Default: Assess the risk of tenant default or vacancy as this can impact your ability to service the loan and may result in penalties or foreclosure.
Lender’s Reputation: Choose a reputable lender with favorable terms and a good track record in handling loans against rent receivables.

5. Loan Against Rent Receivables Interest Rates?

Bank Name	Interest Rate (%)	Loan Tenure	Processing Fees
State Bank of India (SBI)	8.5% - 10.5%	Up to 7 years	0.35% of loan amount (Min. ₹2,000)
HDFC Bank	9.0% - 11.0%	Up to 10 years	1% of loan amount
ICICI Bank	8.75% - 10.75%	Up to 10 years	1% of loan amount
Axis Bank	9.25% - 11.25%	Up to 9 years	1% of loan amount
Punjab National Bank (PNB)	8.6% - 10.6%	Up to 7 years	0.50% of loan amount (Min. ₹2,500)
Bank of Baroda	8.75% - 10.75%	Up to 10 years	1% of loan amount
Kotak Mahindra Bank	9.0% - 11.5%	Up to 7 years	1% of loan amount
IDFC First Bank	9.25% - 11.75%	Up to 10 years	1% of loan amount
Canara Bank	8.9% - 10.9%	Up to 7 years	0.5% of loan amount (Min. ₹3,000)
Union Bank of India	8.85% - 10.85%	Up to 7 years	0.50% of loan amount

Please note: Interest rates and fees can vary based on the loan amount, tenure, credit profile of the borrower, and specific bank policies. Processing fees may also include additional charges like GST. It is advisable to check with the respective bank for the most accurate and updated information.

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Most Common Questions About Loan Against Rent Receivables

1. Who are the best Loan Against Rent Receivables providers in Chennai?

LAKSHANA FIN CORPS
MKN Loan
Dream World Realtors
BT Finance
Shri Vinayak Enterprises

2. What documents are required for a Loan Against Rent Receivables?

You will need to provide proof of identity, proof of address, property ownership documents, the lease agreement, bank statements showing rent receipts, and a No Objection Certificate (NOC) from the tenant. Additional documents may be required based on the lender’s policies.

3. What are the eligibility criteria for a Loan Against Rent Receivables?

Eligibility criteria typically include property ownership, a valid lease agreement with a reputed tenant, a stable rental income history, and a good credit score. Some lenders may also require a minimum rental income and specific property types.

4. How do I apply for a Loan Against Rent Receivables online?

To apply online, you can apply online with the Sulekha form above with your loan requirements, and connect with the best loan providers that suit your needs. Also you can visit the lender's website, fill out the application form with your personal and property details, upload the required documents, and submit the form. The lender will review your application and contact you for further steps.

5. How can I get an instant Loan Against Rent Receivables?

Instant loans may be available through lenders offering quick approval processes. Ensure you have all necessary documents ready, maintain a good credit score, and choose a lender with a reputation for fast processing. Some fintech companies may offer instant loan services.

6. What is the percentage rate for Loan Against Rent Receivables?

The interest rate for a Loan Against Rent Receivables typically ranges from 9% to 14%, depending on the lender, your credit profile, and the lease agreement terms. It's advisable to compare rates from multiple lenders before making a decision.

7. Can I get a Loan Against Rent Receivables with a low CIBIL score?

While a low CIBIL score might reduce your chances, some lenders may still consider your application if you have a strong rental income and a solid lease agreement. However, expect higher interest rates and stricter terms.

8. What is the processing fee for a Loan Against Rent Receivables?

Processing fees for a Loan Against Rent Receivables usually range from 0.5% to 2% of the loan amount, depending on the lender's policies. It's essential to clarify all fees and charges before proceeding with the loan application.

9. Can I get a Loan Against Rent Receivables with a bad credit score?

Obtaining a Loan Against Rent Receivables with a bad credit score is challenging but not impossible. Lenders may consider the strength of your rental income and the tenant's credibility. Be prepared for higher interest rates and more stringent loan terms.

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4.8

Based on 61 Reviews

Kalaiyarasi Arumbakkam

20 Jul, 2021

He is given the wonderful Service, when I approached for mortgage loan. Very knowledgeable person. Easy documentation.

Guest Valasaravakkam

07 Feb, 2020

Gud service and gud responsible company.!! And finally I have lot of problems and they?re deserved it.!! Thank you so much????

vignesh

08 Nov, 2019

Hello Friends, I am working as Business Banking Relationship Manager for a Reputed private Bank in Chennai. Are you a manufacturer, Trader, Service Provider whose Annual turnover from 1 Cr to 100 Cr business, who want to scale your business in Financial Year 2019-2020. We provide Loans from Rs 25 Lakhs to Rs 20 Cr+.. ? Mortgage Loans/Term Loans ? Overdraft facility/ Working capital ? Pre/Post Shipment Finance ? LC Bill Discounting ? Lease Rental Discounting ? Letter of Credit (Inland & Foreign) ? Bank Guarantee(Inland & Foreign) ? Forward Contracts/Derivates ? Advisory and Handling of Capital Account Transactions I take 100% personal Banking Responsibility for your Company's Growth. Kindly call me Vignesh - 9087159777 or kindly leave a message in watsup.

Varadhan Madipakkam

13 Sep, 2019

Got the mortgage loan sanctioned quickly. I really appreciate the personalized services and the financial advise given by the firm

Priyank Anna Nagar East

21 Jun, 2019

It has been a pleasure working with the team at Incept. The overall experience for the loan acquisition was handled smoothly. The team is easily reachable and always available for any questions. Highly satisfied.

Akansha Anna Nagar East

Faster processing .. Hassle free service provider.. I got my loan approved so fast and i am very happy with the service also planning for more loans from incept business solution

Jose Anna Nagar East

20 Jun, 2019

Incept Business Solutions completed my construction loan process very fast and easy. Good and transparent behaviour and you can trust them. I recommend.

Kumar Anna Nagar East

13 May, 2019

Their team gave a detailed comparison of various banks and NBFCs for my Mortgage loan requirement. Trustworthy.

Top Loan Against Rent Receivables Providers in Chennai

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Find the Top Loan Against Rent Receivables Providers from Sulekha in Chennai

Top List of Loan Against Rent Receivables in Chennai as on Oct 16, 2024

LAKSHANA FIN CORPS

MKN Loan

Dream World Realtors

BT Finance

Shri Vinayak Enterprises

Dhamodharan K

KVR Financial Service

Naresh Ramesh

Sagar Enterprises

SMR Associates

Latest User Reviews for Loan Against Rent Receivables in Chennai

Recent Enquiries for Loan Against Rent Receivables in Chennai

Why Choose Sulekha?

1. When to Consider Taking Out a Loan Against Rent Receivables?

2. Eligibility Criteria for Loan Against Rent Receivables

3. Benefits and Advantages of a Loan Against Rent Receivables

4. Important Factors to Consider When Taking a Loan Against Rent Receivables

5. Loan Against Rent Receivables Interest Rates?

Most Common Questions About Loan Against Rent Receivables

1. Who are the best Loan Against Rent Receivables providers in Chennai?

2. What documents are required for a Loan Against Rent Receivables?

3. What are the eligibility criteria for a Loan Against Rent Receivables?

4. How do I apply for a Loan Against Rent Receivables online?

5. How can I get an instant Loan Against Rent Receivables?

6. What is the percentage rate for Loan Against Rent Receivables?

7. Can I get a Loan Against Rent Receivables with a low CIBIL score?

8. What is the processing fee for a Loan Against Rent Receivables?

9. Can I get a Loan Against Rent Receivables with a bad credit score?

Tips & Solutions for Applying Loan View All Blogs

Home Buying Trends 2021

Important Things That NRIs Should Know About Home Loan In India

Home Loan Agreement- Important clauses to know!

How To Avoid Rejection Of Your Personal Loan Application