It is a loan against  rent receivables.  Eligibility Should own commercial or residential property Property has been rented out to individuals, banks, MNCs, PSUs, Government Institutions including landlords of IOB's branch/office premises and officers' quarters Should have  a firm lease agreement for letting out/leasing of your property The rent receivable  has not been charged to any other loan Owner and the individual/establishment to whom the property is rented out, are credit-worthy Loan amount Maximum of 75% of the receivable rent for the un expired period of lease or tenancy after deductions for TDS and the advance rent received.  Rate of interest : Please click Retail credit interest rates Repayment Repayable in equated monthly installments of 60/84 months (maximum). But the repayment period should not exceed the number of months taken into account for arriving at the loan amount. Security For loans upto Rs. 2 lakh, future rent receivable is charged to the Bank For loans above Rs. 2 lakh, your leased/let out property should be mortgaged in addition to charging the rent receivable In the event of inability to mortgage this property, any other immovable property with a value of one and half times the loan amount can be mortgaged, or The NSC, KVP, IVP, LIC (surrender value) equivalent to the loan should be offered as security Power of attorney  is to be executed  by the lessor infavour of the bank to receive  the rent directly from the lessee. The processing charge is 0.84% of the loan amount with a minimum charge of Rs. 1120/-. Documents  An application form Proof of income  Copy of the lease deeds of the  property Assessment copy of Income Tax /Wealth Tax Copy of approved building plan If you have an existing loan on the property,  certificate of the balance from the financing institution should be produced.  Copy of title deeds of the property offered as security. Click here to Download the Application Form