Bajaj Finserv

Lease Rental Discounting (LRD)

We deploy technology and apply innovation to create unique and compelling propositions that help you do what you always wanted to do. Hereunder are a host of unique features and benefits that you enjoy with Lease Rental Discounting Loan from Bajaj Finserv. Most of these features are industry firsts and come only with our portfolio of offerings. Read on to know more:
Part Prepayment facility
You can prepay any amount per prepay transaction, not less than 3 EMIs. There is no limit on the maximum amount per prepayment. This is subject to your clearing your first EMI. Nil Foreclosure charges
You can choose to foreclose your loan any time during your loan tenure without paying any foreclosure charges. This is subject to clearing your first EMI.

Flexi Saver
As an existing LAP customer, you can avail of our FlexiSaver facility. Bajaj Finserv is the first non-bank in the country to offer a unique and innovative capability, offering you a combination of a Term Loan and Credit Line to transact (pre-pay and draw-down) as per your cash flow requirement.

Online Account Access
View all your loan account information like repayment track, interest certificate, payment schedule and transact on your account on our Customer Portal - Experian. Log in with your Username/Email/Mobile Number and Password from wherever you are and access your loan account details.

Customized Insurance Schemes

Group Credit Protection Plus from Bajaj Allianz
• Non Medical Loan & Life Insurance of up to Rs. 100 Lacs
• Level term Plan, which means you are covered for the complete amount despite reduction/ prepayment of loan amount
• Coverage for the complete tenure of the loan up to a maximum of 30 years

Home Safe Plus from ICICI Lombard
• Non Medical Insurance up to Rs. 3 Crores
• Provides coverage against accidental death, permanent or total disability, diagnosis of critical illness and loss of job
• Coverage for 5 years

Bajaj Allianz SFSP Policy
Bajaj Allianz’ SFSP Policy offers a comprehensive insurance cover for your home (i.e. residential building) against various contingencies to ensure that your prized possession is always safe!

Eligibility and Documents

You are an Indian Resident
You are at least 25 years of age when the loan is sanctioned
The minimum loan amount is Rs.10 Crores
Documents Application for
m Photograph Identity proof Signature proof Date of birth proof IT Returns & Balance Sheet & P/L Account Statement for the last 2 years Bank account statement for the last 6 months Lease Deed/ Leave and License Agreement *Kindly note that the list of documents mentioned is indicative. During the loan process, additional documents may be asked for. The same will be appropriately communicated to you as and when required.

Documents
• Application form
• Photograph
• Identity Proof
• Address proof
• Signature Proof
• Date of Birth Proof
• IT Returns & Balance Sheet & P/L Account statement for the last 2 years.
• Business Continuity Proof for 5 years.
• Bank Account Statements for the last 6 months.
• Copy of property paper to be mortgaged.

*Kindly note that the list of documents mentioned is indicative. During loan processing additional documents may be asked for .The same will be appropriately communicated to you as and when required.

Fees and Charges

Processing Fees Upto 2% of the loan amount
Loan Statement charges Nil
Interest and Principle Statement charges Nil
PDC Swap charges Nil
EMI Bounce charges Rs.1000 for every bounce
Penal Interest 2% p. m.
Foreclosure charges * NIL
Part Prepayment charges * NIL

FAQ

Q1. What is the minimum and maximum loan amount that I can get from Bajaj Finserv?
A. We offer loan in Corporate Lease Rental Discounting from Rs. 10 Cr to Rs. 50 Cr.

Q2. How do you determine the loan eligibility?
A. We consider the following factors to determine eligibility:
• Valuation of Property (Fair market value) – up to 55% of the value of the commercial property
• Existing rental from the property being mortgaged – up to 90% of the net rental receipts

Q3. If a property is jointly owned by an individual and his/her relatives, can he/she take a loan against this property?
A. All the co-owners of the considered property need to come in as co-applicants to the loan.

Q4. What will be my approved tenure for my Corporate LRD Loan?
A. The loan can be availed for max tenure of 11 years subject to the residual lease period.

Q5. How can I repay my Loan?
A. Your EMI will be debited from the ESCROW account where the rental amount will be deposited by your lessee.

Q6. On what basis does the internal FRR change?
A. Internal FRR is the benchmark reference rate. This is determined based on the market conditions and the cost of funds for the company. This changes, depending on various external factors and economic conditions.

Q7. How often do Interest rates change?
A. As per our re-pricing policy, interest rates are reviewed every two months and a decision is taken whether to change the interest rates or keep it unchanged.

Q8. I have taken a loan just one month back. How does change in interest rates work for me?
A. As per our internal pricing policy re-pricing policy, interest rates will be changed only for those cases which are at least 3 months old. In your case, change in FRR will not have an immediate impact on interest rate of your loan. However once your loan is 3 months old, any changes in FRR in last 3 months will change your effective rate basis the margin on your loan.

Agreements and T&C

Repricing Policy
The floating interest rate for Lease Rental Discounting Loan is linked to the internal Floating Reference Rate. It is the benchmark reference rate for Bajaj Finance Limited and is determined based on the prevalent market conditions and the cost of funds, as the cost of funds reduces/increases or as market conditions change, internal FRR may be increased or reduced. The current FRR is 20% effective 5th September, 2013. Any revision in this rate would impact the interest rate on the floating interest rate loans. The increase/ decrease in the interest rate will by default increase/decrease the loan tenure up to the permissible limit as per BFL norms. In case of an increase in the interest rate, if you want to retain your existing EMI/ tenure, you will have an option of making a part pre payment and keeping your EMI/ Tenure constant. No additional charges would be levied for the same. The communication on the changes (Increase/ decrease) in the rate of interest would be sent by mail.

Proactive Repricing Policy
During the entire tenure of your loan, under no scenario will your rate of interest exceed by 1.00% over the last quarter average Bajaj Finance acquisition rate. The pricing increase happens only in the scenario of an increase in the Cost of Funds and this policy is being put in place as a proactive measure to ensure that there is no inordinate increase in your loan pricing against new acquisitions and there is always parity for your loan.
If a customer rate of interest exceeds the current BFL last quarter average acquisition rate by 1.00%, then such cases are reviewed every year in April and October and proactive correction is done in the rate by bringing it down to BFL last quarter average acquisition rate + 1.00%. For example if a customer Loan Account rate of interest is 14.50% in April/October v/s our last quarter average acquisition rate of 13.00% then in April / October we will review the same and revise the customer loan account rate of interest downwards equal to BFL last quarter average acquisition rate + 1.00%. i.e. 14.00% without any reduction in BFRR. This is done by increasing the spread / margin between your rate and BFRR.
The pricing increase happens only in the scenario of an increase in BFRR due to increase in our cost of funds and this policy is being put in place as a proactive measure to ensure that there is no inordinate increase in your loan pricing against new acquisitions and there is always reasonable parity between old and new customer rates Exclusions:
Customers who will not be part of this policy:
• Paid less than 6 EMIs
• FlexiSaver customers
• Loan Against Plot customers
• Loan accounts in which 3 or more EMIs are dishonored in the last 12 months prior to Proactive Repricing day

Loan Accounts with an EMI payment delayed by more than 30 Days during the loan tenure

Get Enquiry Here

CONTACT
9594111161 / 9967111161
ONLINE CONTACT
perfectsolution.helpdesk@gmail.com
ADDRESS
504, 5th Floor Suchita Business Park,
Raigad Chowk, Station Road, Ghatkopar (E), Mumbai 400 077
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