Rental Deposit Loan

Rental Deposit Loan

Rental Deposit Loan available online through OMLP2P

What is Rental Deposit Loan?

A rental deposit, also known as security deposit is a monetary deposit given to a lender, seller or landlord as a proof of intent. Security deposits can be either refundable or non-refundable depending on the terms of the transaction. The deposit is intended as a measure of security for the recipient. It is a sum of money held in trust either as an initial part-payment in a purchasing process also known as an earnest payment, or else, in the course of a rental agreement to ensure the property owner against default by the tenant and for the cost of repair in relation to any damage explicitly specified in the lease and that did in fact occur.

There may be challenges to the amount required for security deposits in particular cities or neighbourhoods. Some districts could have landlords who charge higher security deposit rates as compared to the surrounding areas. To address the issue, security deposit loan is available through OMLP2P for individuals and families, finding places to move in to a new house.

Who is eligible for Rental Deposit Loan?

• The borrower must be an Indian citizen and Resident of India
• Should be above 18 years of age and capable of entering into a legal contract as per the Indian Contract Act.
• Should have a valid Bank Account, Aadhaar Card and a valid PAN number.

How much amount?

• You can get quick loan online for any value between INR 25,000/- to INR 5,00,000/- (T&C apply).

Documents Required for Rental Deposit Loan

• PAN Card
• Address Proof – Valid Aadhaar Card / Driving License / Voter ID / LPG Bill
• Passport size photograph
• For Salaried Person – a) Last three months’ bank statement into which salary is credited b) Form 16 / Last three months’ salary slips
• For Self-Employed Person – a) Last twelve months’ bank statement b) Last two years’ Income Tax Returns (ITR)

Apply for Rental Deposit Loan on  www.omlp2p.com - India's leading peer to peer lending platform.