Baroda Loan Against Future Rent Receivables

• Considering the Growth potential available in real estate sector and to facilitate leveraging the potential return / income at urban areas, where many commercial properties / shopping complexes are being developed, Bank of Baroda (Kenya) Ltd. has designed a unique loan product for owners of such commercial properties against their future rent receivables.

75% of rent (net of tax, advance rent, security deposit etc), due and receivable for the unexpired certain period of lease and uncertain period of lease (optional period subject to:

• Minimum Kshs. 1,000,000/-& maximum up to Kshs.200,000,000/-(available in USD also)
• Base Rate+ Applicable Risk Premium.

• By Equated Monthly Installments (EMIs).
• Up to 10 years or unexpired certain lease period and uncertain period of lease (optional period of maximum next 10 years) whichever is less.
• The maximum rental period (including the certain and optional period) should be10 years.

• Facility against Assignment of Future Rent Receivables.
• Mortgage of the leased property.
• Tripartite Agreement amongst the Bank, the Borrower and the Lessee.
• Account for collection of lease rental to be opened with us.
• Third party costs viz: Valuation fees, Legal costs & property Insurance costs etc. are to be borne by the borrower.