Overview

In large cities, where tenants must pay an advance rental of 8-12 months as a security deposit, this becomes a significant deterrent in deciding on a house. The loan amount is paid directly to the landlord, and the tenant pays interest on the principal loan amount measured over the term of the rental contract. Chickly receives the principal loan sum upon lease termination. This alleviates the burden of a major financial transaction when relocating.

Features and Benefits

High-value loan

Get a loan of up to Rs5 lakh to cover the initial expenses of renting a house including security deposits, advance rent

Instant loan processes and minimum documents

Fill out an online application. Disbursement within 24hours of application with the bare minimum of documents

Quick Processing

Get security deposit funding quickly within 24 hours

Flexible tenors

Get a flexible repayment tenor ranging to 36 months to suit your repayment capacity

Get financing for whatever you need now

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Eligibility Criteria for Rental Deposit Loan

  • The monthly salary should be between Rs 30,000 and Rs 40,000. To qualify for the loan, we require that the applicant earn at least Rs 30,000 per month. 
  • Rental deposit loans are only available to professionals who work for a limited/private limited company or in government.

Documents required

  • Rental agreement
  • identify proof
  • Employment proof
  • Three-month salary slips
  • Mail confirmation from the official mail id
  • Need Six-month bank statement