PNB Lease Rental Discounting

PNB Bank has been ranked as 248th biggest bank in the world by Bankers Almanac. The bank was founded in 1894 and is diversifying immensely with 6300 branches and 7900 ATM’s in 764 cities across India.

PNBHFL offers a holistic banquet of Retail Asset Loans that facilitate meeting LRD needs in a smooth and speedy way. At LoanStreet, you can avail easy approval for a Lease Rental Discounting Loan.

Minimum Threshold For PNB LRD Eligibility
  1. At least 24 years of age.
  2. Salaried/ Self-employed with regular source of income.
  3. Less than 65 years of age.
 
Documentation Required For Application Of PNB LRD

Generally all lenders follow same guidelines for collecting elementary documents. However there may be little variation with subject to specific requirements. Below listed are the documents that is required to process the loan faster. Self Attested copies of Documents are solicited.

  1. The Signed application form duly filled with photograph.
  2. ID/ Age Proof - PAN Card/ Passport/ Aadhar Card and Residence Proof – Passport/ Utility bills/ Bank Statement
  3. Cheque of Processing Fee.
  4. Registered Lease Rental Agreement
Salaried Individuals
  1. Last 2 years Form 16 or Income Tax Returns
  2. Last 3 months salary slips
  3. Last 6 months bank statement reflecting salary credits
 
Self employed Individual/ Proprietorship
  1. Proof of Business- Shop and Establishment Certificate/Vat Registration Certificate/ Service Tax Certificates
  2. Last 3 years IT tax returns with profit and loss account and balance sheet duly audited by CA
  3. Latest 12 months bank statement- Savings Account and Current Account
  4. Existing Loans’ Sanction letters accompanied with repayment track
  5. Business profile on the letterhead of the company
 
Partnership Firm/ Partnership LLP
  • Age proof of all the partners in the form of PAN Card, Passport or Adhar Card
  • PAN Card of the company
  • Residence proof of all the partners –Utility Bills/ Passport/Bank statement/ Registered rent agreement
  • Proof of Business- Shop and Establishment Certificate/Vat Registration Certificate/ Service Tax Certificate
  • Latest 3 years Income Tax returns with profit and loss and balance sheet duly audited by CA.
  • Latest 12 months bank statement of the Company and of the Partners’ Savings Bank Account
  • Partnership deed
  • Existing Loans’ Sanction letters accompanied with repayment track
  • Business profile on the letterhead of the company
 
Private Limited / Limited Company
  • Application form duly filled with photographs of directors.
  • Age Proof of Directors- PAN Card, Aadhar Card, passport
  • Residence Proof of Directors- Utility Bills/ Passport/Bank statement/ Registered rent agreement
  • PAN Card of Company
  • Education Qualification- A professional qualification certificate in case of Doctors/CA/Architects
  • Proof of Business- Shop and Establishment Certificate/Vat Registration Certificate/ Service Tax Certificate
  • MOA, AOA, List Of Directors, Share Holding Pattern of the Company
  • Last 3 years IT returns with Profit and Loss account and balance sheet duly audited by CA.
  • Latest 12 months bank statement of Company of all current accounts and the same for Director’s Savings Bank Account
  • Existing Loans’ sanction letter with repayment track of company and Individual Directors
  • Business Profile on the Letter Head of the Company
 
Property Documents
  • Occupancy Certificate
  • Approved Plan of building
  • Share certificate copy
  • Chain of deeds in case of resale property
  • Property Card
  • Nil Encumbrance Certificate- EC ( if applicable)
  • Current Sale agreement/ Draft Agreement
 
PNB LRD Interest Rates
Rate of Interest 12- 13.50%
Loan Tenure 1 year to 15 years
Processing Fees 1.5% of the loan amount + Service tax as applicable
Foreclosure Charges 4% of the outstanding amount + applicable Taxes
Unique Features PNB LRD
  • Minimum loan amount is Rs 25 lakhs.
  • There is no upper cap on the maximum amount
  • Maximum tenure is of 15 years
  • Attractive Interest Rates