A APPLICATION for IB RENT ENCASH

To
The Branch Manager
Indian Bank
……………..............................…………. Branch Latest Passport size Latest Passport size
Latest Passport size
photo of the Co- photo of the Co-
photo of the Applicant
Applicant / Guarantor Applicant / Guarantor
with signature across
with signature across with signature across

For existing customers only

CIF of
Applicant

Applicant: Individual Joint Owners Corporate Firm

Building Type: Residential Commercial

Category of Lease: ‘A’ ‘B’

CIF of
Co-Applicant

CIF of
Guarantor

A/c with ……………………………………………….Branch

Savings Bank
A/c No.

Dear Sir,
I / We hereby apply for a loan of Rs……………………….. for the purpose of ………………………………..………………
……………………………………………….…………….. repayable in ………. EMIs. The following person(s) shall be the
Co-applicant/Guarantor for the loan:

Sri./ Smt…………………………………………………………………….(Co-applicant/Guarantor)
Sri./ Smt…………………………………………………………………….(Co-applicant/Guarantor)

Yours faithfully,

Signature of Applicant Signature of Co-Applicant

Date :
Place:

1
 PERSONAL DATA of Applicant
01. Name (Surname / First Name / Middle Name) In Capital Letters

Mr / Mrs / Ms / Mx

02. Name of Father / Husband (Surname / First Name / Middle Name) In Capital Letters

Mr

03. Mother’s Maiden Name in Capital letters

Mrs

04. Address: Current ( Rented Owned) Permanent

Pin Staying since …………. yrs Pin

Contact: L L …………..…….. Mobile ……………………………….. E-mail ………………………………………………..

05. (a) PAN No…………….…………… (b) Voter’s ID ……………................... (c) UID No………………………… (d) Passport No………………………

06. (a) Date of Birth……………………..……(b) Age in years………………….

07.Category : SC ST OBC MIN GEN

08. Marital Status: Married Unmarried

09. Educational Qualification: UG G PG Others (Specify ………………………………………)

10 Occupation of Applicant Employed Self Employed Professional Business Others

a. Details of Employment (with
reference to Col.10) with full
address of Employer / Office
with Telephone / fax / email.
Designation, Employee No etc
to be entered Designation …………………………………………….. Employee No. …………………………………
Whether Confirmed Yes No Completed years of Service: …………..
b. If Self-employed / Professional/
Business / Others – Furnish Nature of Profession / Business etc. …………………………………………………………………………….
Details
(with reference to Col.10) with
full address / Telephone / fax /
email
Capital Employeed in the Business – Rs.

11 Occupation of Spouse Employed Self Employed Professional Business Others

a. Details of Employment (with

reference to Col.11) with full
address of Employer / Office
with Telephone / fax / email.
Designation, Employee No etc Designation …………………………………………….. Employee No. …………………………………
to be entered Whether Confirmed Yes No Completed years of Service: …………..
b. If Self-employed / Professional/
Business / Others – Furnish Nature of Profession / Business etc. …………………………………………………………………………….
Details
(with reference to Col.11) with
full address / Telephone / fax /
email
Capital Employeed in the Business – Rs.
12 Present Monthly Income: Gross Net Rental Income
a. Applicant
b. Spouse

c. Total

2
 PERSONAL DATA of Co-Applicant
01. Name (Surname / First Name / Middle Name) In Capital Letters

Mr / Mrs / Ms / Mx

02. Name of Father / Husband (Surname / First Name / Middle Name) In Capital Letters

Mr

03. Mother’s Maiden Name in Capital letters

Mrs

04. Address: Current ( Rented Owned) Permanent

Pin Staying since …………. yrs Pin

Contact: L L …………..…….. Mobile ……………………………….. E-mail ………………………………………………..

05. (a) PAN No…………….…………… (b) Voter’s ID ……………................... (c) UID No………………………… (d) Passport No………………………

06. (a) Date of Birth…………………………(b) Age in years………………….

07.Category : SC ST OBC MIN GEN

08. Marital Status: Married Unmarried

09. Educational Qualification: UG G PG Others (Specify ………………………………………)

10 Occupation of Co-Applicant Employed Self Employed Professional Business Others

a. Details of Employment (with
reference to Col.10) with full
address of Employer / Office
with Telephone / fax / email.
Designation, Employee No etc
to be entered Designation …………………………………………….. Employee No. …………………………………
Whether Confirmed Yes No Completed years of Service: …………..
b. If Self-employed / Professional/
Business / Others – Furnish Nature of Profession / Business etc. …………………………………………………………………………….
Details
(with reference to Col.10) with
full address / Telephone / fax /
email
Capital Employeed in the Business – Rs.

11 Occupation of Spouse Employed Self Employed Professional Business Others

a. Details of Employment (with

reference to Col.11) with full
address of Employer / Office
with Telephone / fax / email.
Designation, Employee No etc Designation …………………………………………….. Employee No. …………………………………
to be entered Whether Confirmed Yes No Completed years of Service: …………..
b. If Self-employed / Professional/
Business / Others – Furnish Nature of Profession / Business etc. …………………………………………………………………………….
Details
(with reference to Col.11) with
full address / Telephone / fax / Capital Employeed in the Business – Rs.
email
12 Present Monthly Income: Gross Net Rental Income
a. Applicant
b. Spouse

c. Total

3
 PERSONAL DATA of Guarantor
01. Name (Surname / First Name / Middle Name) In Capital Letters

Mr / Mrs / Ms / Mx

02. Name of Father / Husband (Surname / First Name / Middle Name) In Capital Letters

Mr

03. Mother’s Maiden Name in Capital letters

Mrs

04. Address: Current ( Rented Owned) Permanent

Pin Staying since …………. yrs Pin

Contact: L L …………..…….. Mobile ……………………………….. E-mail ………………………………………………..

05. (a) PAN No…………….…………… (b) Voter’s ID ……………................... (c) UID No………………………… (d) Passport No………………………

06. (a) Date of Birth…………………………(b) Age in years………………….

07 Occupation of Guarantor Employed Self Employed Professional Business Others

a. Details of Employment (with
reference to Col.7) with full
address of Employer / Office
with Telephone / fax / email.
Designation, Employee No etc Designation …………………………………………….. Employee No. …………………………………
to be entered Whether Confirmed Yes No Completed years of Service: …………..
b. If Self-employed / Professional/
Business / Others – Furnish Nature of Profession / Business etc. …………………………………………………………………………….
Details
(with reference to Col.7) with
full address / Telephone / fax / Capital Employeed in the Business – Rs.
email
08 Gross Net Other Income, if any
Present Monthly Income:

Other Details to be submitted

A. In case, applicant being a Corporate / Firm (Provide the details of the Proprietor / Partners / Directors etc.,)
Name (Mr / Mrs / Ms / Mx)
S.No. Address with contact (mobile, email) details Date of Birth
S/o; D/o; W/o

B. Details of Rental Income to be / being received from the building

Let out the Building to: PSU State Govt. Central Government offices Others ……………………….…….…..
Rent received Dt. of expiry Amt of Property Tax to
S.No Particulars of the Regd. Rental/lease agreement
(in Rs.) pm of Lease be paid (Half Yearly)

4
C. PROPERTY DETAILS:
ADDRESS & LAND / BUILDING DETAILS :

Survey No……………Door No……………Plot No…………Flat No……………Floor No…………….Block No,………………..

Address: ………………………………………………………………………………………………………………………….………………………………….

………………………………………………….. Nearest Land Mark ……………………………………….………………………………………………

Area of land / Undivided share of land………………..Sq..ft. Built up area……………………………….Sq. ft

Right of Ownership of Land: Free Hold Lease Hold

Status of Ownership of property : Sole Joint If Joint, then name of the other Owner……………………………….……………

Do you propose to rent the dwelling unit : Yes No If yes, Rent expected : Rs………………….p.m.

In case of existing building, then residual life…………………….. Years

Whether valuation of the property done: Yes No If yes, Name of the Engineer……………………………………….

Whether Legal Opinion is obtained: Yes No. If yes Name of the Advocate………………………………………..

D. Details of Family Members

Name Relationship Age

That of Applicant 1. ……………………………………….……………. ……………………………………. ……………….

2. …………………………………………….………. ……………………………………. ……………….
3. …………………………………….………………. ……………………………………. ……………….
That of Co-Applicant 1. ………………………………………….…………. ……………………………………. ……………….
2. ………………………………….…………………. ……………………………………. ……………….
3. …………………………………….………………. ……………………………………. ……………….
That of Guarantor 1. ………………………………………….…………. ……………………………………. ……………….
2. ………………………………….…………………. ……………………………………. ……………….
3. …………………………………….………………. ……………………………………. ……………….

E. Purpose of the Loan:

Repairs to be executed Renovation of flat / house
Marriage Education for my son / daughter
Household Festival Medical expenses of my ………………………………………
Any Bankable purpose ……………………………………..

F.REPAYMENT:
Select the mode of repayment - PDC ECS Standing Instruction
Any monthly repayment obligation to our Bank or other banks/FI Rs……………….……….

Any relative working / nominated as Director in the Bank : No Yes. If yes, Relationship :
(If yes, declaration in the format (F 172) should be obtained.)
Details of SB / Current Account maintained Account Nos. : (SB/Current/OD/OCC Account)
by the applicant with Other Banks
Bank: Branch :

I/We hereby declare that all the particulars given in the application form are true in all respects. I/We agree to assign the Rental Income
in favour of the Bank. I/We confirm that no litigation has been initiated against me/us by other banks / Financial Institutions. I/We
request you to sanction the loan.
Place : Signatures
Date : Applicant

Co-Applicant

Guarantor

5
 CHECKLIST FOR RENT ENCASH (OFFICE USE)

Calculation of Eligible Loan Amount:

Details Required:

1 Rent Receivable Per Month (Net of TDS)

Months Rent Per Month
For Un-expired Lease Period – CERTAIN
From: To:

From: To:

From: To:

2 Residual / Un-expired Lease Period Months

– CERTAIN
3 Property / Statutory Tax Payable Amount
– Per Annum
4 Advance Rent - already received Amount
5 “No. of Months’ Rent” Number
- received as Advance Rent
6 Realizable Sale Value of the Property Amount
- as per EVR

METHOD (A) – NPV Basis: Amount

A i. NPV of Monthly Rent Receivable (Net of TDS)

For ------- Months (Residual Certain Period)
ii. Less: Margin 10% OR
Less: Margin 20%
iii. Eligible Loan Amount –
after deducting the applicable margin (i - ii)

METHOD (B) – RSV Basis:

B i. RSV of the property
ii. Less: Margin – 30% OR
Less: Margin – 40%
iii. Eligible Loan Amount –
after deducting the applicable margin (i - ii)

7. The Eligible Loan Amount

Lower of the above two calculations [A(iii) or B(iii)] = Rs
EMI for …….… months* = Rs

6
* Repayment period = No. of Months of Un-expired Lease Period
(CERTAIN) taken for calculation (MINUS) the “number of months’ rent”
received as Advance Rent – (that is, 2-5 as stated above)
Branch / ZO shall ensure the following:
- EMI does not exceed the Monthly Rent (Net of TDS)
- Excess amount of ‘Monthly Rent (Net of TDS)’ over ‘EMI Payable’ is
sufficient enough to cover the property tax payable – on annual
basis

8 Amount of Loan requested for

9 Amount of Loan recommended /sanctioned
10 Rate of interest to be charged
11 Processing charge
12 Any other relevant details

13 Security (Property Details)

a. EM of Property

Engineers Valuation ………………………….

b. Rent receivable
Any other
(please specify details)
14 Checklist Date
a. Legal opinion dt. …………………………… obtained on
b. Engineers Valuation dt. …………………… obtained on
c. Latest EC dt. …………………………..…… obtained on
d. EM created on
e. Property Tax Paid upto …………………..
Receipt dt. ……………………….…….…… obtained on
f. Electricity Bill paid upto ………………….…….…….. on
g. Documents to be obtained - D1 / D2; D 32; D129; D 57; D 110 or Power of attorney from property
owner to collect the rent directly from the tenants; F 178; Acceptance letter from the tenant to directly
pay the rent to the bank- as per power of attorney.
15 Any other Relevant observation by recommending /sanctioning authority

16 Risk Factors if any:

1.Recovery
2. Distress Sale with Vacant Possession