All the bank or NBFC have their own loan eligibility criteria but there are some common loan eligibility criteria which borrower has to fulfill to avail loan from bank or NBFC.

Following are some key important factors which would be checked by bank or NBFC to accept or reject the lease rental discounting loan application:-

• Age:At the time of lease rental discounting loan (LRD Loan) application, applicant must be 21 years or above but not more than 60 years in case of salaried person and 65 years in case of self employed non professional because repayment of the loan has to be completed on or before 60 or 65 years of borrower age.
• Lease Agreement Period:Lease agreement period is very critical and important factor for taking lease rental discounting loan from Bank or NBFC. Bank will not provide loan if lease period is less than 5 years.
• Other Source of IncomeBank or NBFC checks other source of income of an individual who is applying for lease rental discounting (LRD) loan. A secondary source of income, ensure the lender regular repayment of their loan EMI if lessee vacate the property
• CIBIL SCORE:A lease rental discounting (LRD) loan borrower who is having good cibil score will get quick loan from the bank or NBFC. Cibil score is a decisioning factor for sanctioning or rejecting lease rental discounting (LRD) loan applications.
• VALID, CLEAR AND MARKETABLE TITLE DEEDS OF PROPERTY:A lease rental discounting (LRD) loan borrower must be having valid, clear and marketable title deeds of entire chain of the property along with approved sanction plan or map. The ownership and physical possession of the property lies with the borrower only.