A home loan or a housing loan is money that an individual borrows with the purpose of buying a home. The property acts as a collateral for the loan. The borrower has to repay the loan along with an agreed upon interest through monthly EMIs over a period of time i.e. the tenure of the loan.

What are the benefits of a Home Loan from MHFCL?

At MHFCL, the home loan comes with several benefits some of which are mentioned below: Our Loans range from Rs. 2 lacs to Rs. 30 lacs We offer loan repayment tenures of up to 20 years You can get loans from us for up to 80% of your property value We cater to the housing requirement of customers in the middle- and lower-income group We provide specialised home loans for the unorganised sector and help people turn their dreams of owning a home into reality

What are the tenure and loan value for your Home Loan from us?

Muthoot FinCorp has provision for loan tenure up to 20 years for home loans in India. You can have a loan value as low as 3 lakhs all the way to 40 lakhs. As housing finance uses the house purchased to secure the loan as collateral, the interest rate is lower than unsecured loans. Based on your income and comfort, you can opt for fixed or flexible repayment options.

Can I reduce my Home Loan tenure in case of rate hike?

Yes, as we offer flexible terms and conditions on our home loans giving you the flexibility to reduce the loan tenure. Please contact your nearest Muthoot FinCorp branch or call our customer care representative at 1800 102 1616 for more details.

What are the foreclosure charges for a Home Loan?

If the Home Loan was sanctioned at a floating or variable rate, you can foreclose it at no additional charges. In case of a home loan with fixed rate, foreclosure from own sources attracts no charge, though if you decide to refinance the loan, you will have to pay 3% to 5% of the amount outstanding as foreclosure charges.

What are the documents required to apply for a Home Loan at Muthoot Housing Finance Ltd.?

> We are bound by a follow KYC forms as per the regulator's guidelines. You will be required to furnish documents for age, income, and address. The list of documents is given below: Proof of Residence Attested photo copy of any one of the following:Ration CardPassportDriving LicenceBank Account StatementVoter's ID Card Documents Required Current Telephone / Electricity / Gas Bill / Water Bill / Property Tax Proof of Identity Attested photocopy of any one of the following:Passport Driving Licence Aadhar Card (UIDAI) Letter confirming identity from a commercial bank Employee ID Card if issued by Central / State Government undertaking Voter's ID Card Pan Card Income Documents Salaried Individual Salary Slip of last 3 months of Salary certificate issued by employer in absence of salary slip Bank Statement for the last 12 months ITR for last 2 years if available Income Documents Business Individual Business ownership proof documents like license, rent agreement of shop etc. Income documents like purchase bills, sales bills, sales register etc. Bank statement for last 12 months ITR for last 2 years if available.

What are the benefits available for a Home Loan borrower?

A borrower benefits immensely from a home loan and we share the major ones with you:Owning a home is one of the biggest dreams of every individual irrespective of their age, income or location - and a home loan's biggest benefit is that it helps the borrower fulfill this dream with easy installment options. They can buy a bigger home or a better locality with confidence. Another additional benefit fo the borrower is that there is no need to spend lacks of Rupees to buy and start living in a self-owned home. A home loan spreads the amount over several years. making it easy to repay the amount with interest. Most borrowers benefit from the fact that the EMI for a home loan is equal to or slightly higher than the amount they pay as monthly rent to their landlord. A loan gives them the freedom to enjoy their home without any interference from the landlord The price of a property will always increase with time and investing in one with a home loan will benefit the borrower.

Make Your Dream Home a Reality

A product from Muthoot Housing Finance Company Limited (MHFCL)

Minimal Documentation
Loans up to ₹75 lakh*
Flexible Tenures

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Home Loan from Muthoot Housing Finance Company Limited

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Why Choose MHFCL for Home Loan ?

We offer a bouquet of home loan products particularly for affordable housing. We offer customized loan products to people who find it difficult to get loans from banks and other financial institutions. From low ticket loans with an extended repayment period to loans for the purchase of property, house or apartment, loans for home extension and loans against a residential property, Muthoot Housing Finance Company Limited offers its customers a bouquet of products. We have created affordable loan products with flexible terms to suit different requirements.

26000+ Disbursements | 35000+ families releaized their Dream | 12 States across India

Backed by CRISIL A/Stable ratings, MHFCL ensures inclusive growth through easy processes and customer-focused services.