Muthoot Finance Home Loan for Salaried Person

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Salaried individuals can apply for a Muthoot Housing Ltd home loan if they require instant funds to purchase their dream home. With competitive EMI and various home loan schemes, Muthoot Finance Ltd's home loan disbursement is quick and easy, making it attractive for borrowers. Whether you are looking for a Muthoot Finance Ltd home loan scheme for salaried employees or need information on the required documents, Muthoot Finance Ltd offers complete support for all your home loan requirements. Learn more about the EMIs, eligibility, and documents required if you wish to learn more about the Muthoot Finance Ltd home loan for salaried persons.

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Table of Content

1. Muthoot Finance Home Loan For Salaried Person Highlights

2. Muthoot Finance Home Loan For Salaried Person Fees & Charges

3. Muthoot Housing Finance Ltd Home Loan For Salaried Persons Documents Required

4. Muthoot Housing Finance Ltd Home Loan For Salaried Persons Eligibility Criteria

Read more
Written By
Utsah Sharma
Utsah Sharma
Utsah Sharma is a seasoned financial expert with a Master’s Degree in Commerce specialising in Financial Services, Investments, Loan Assessments, Mutual Funds, Banking & Loan products. Drawing on her experience, she has established herself as a trusted voice, providing invaluable insights and guidance to seasoned investors and beginners. She is committed to breaking down the complexities of everything finance.
Reviewed By
Piyush Bothra
Piyush Bothra
Chief Financial Officer, Square Yards
Piyush Bothra is the Chief Financial Officer at Square Yards, bringing over two decades of rich experience in finance and leadership. He is an MBA graduate from the prestigious IIM Lucknow and holds a BE in Information Technology from Sardar Vallabhbhai Patel Institute of Technology. He has played pivotal roles in scaling businesses and driving financial strategies. At Square Yards since 2015, Piyush is known for his strategic vision, strong financial knowledge, and valuable financial insights, significantly contributing to the company's growth and success.

Muthoot Finance Home Loan For Salaried Person – Highlights

The key highlights of Muthoot Finance Ltd home loan for salaried persons are given in the table below:

Interest Rate Starting at 11.00% p.a. onwards
Loan Amount Up to Rs 50 lakhs
Loan Tenure Up to 20 years
Eligibility  Salaried employees who have a steady source of income.

Muthoot Finance Home Loan For Salaried Person – Fees & Charges

Understand the applicable fees and charges on the Muthoot Finance Ltd home loan for salaried persons:

  • Processing Fee: One-time fee of Rs 500 + taxes
  • Default Payment Charges: 24.00% p.a. on the defaulted payments
  • Property Swap Charges: Rs 5000 + applicable charges
  • Cheque Bounce Charges: Rs 100 + applicable taxes per instance

Muthoot Housing Finance Ltd Home Loan For Salaried Persons – Documents Required

The documents required to avail of a Muthoot Housing Finance Ltd home loan for salaried persons are as follows:

  • Address Proof Documents
  • ID Proof Documents
  • Income Documents for Salaried Individuals:
  • Bank statements for the past 12 months
  • Income Tax Returns (ITR) for the last 2 years
  • Salary slips for the last 3 months or a Salary Certificate issued by the employer if salary slips are unavailable
  • Income Documents for Business Individuals:
  • Bank statements for the past year
  • Income Tax Returns (ITR) for the last 2 years
  • Business ownership proof documents such as a rent agreement for the shop or a license
  • Income documents like sales bills, purchase bills, and sales registers

Muthoot Housing Finance Ltd Home Loan For Salaried Persons – Eligibility Criteria

The eligibility criteria for a Muthoot Housing Finance home loan for salaried persons are as follows:

  • Nationality: Applicants must be Indian nationals.
  • Employment Type: Can be either salaried or self-employed.
  • Age Requirement: Minimum 21 years to a maximum of 65 years.

Frequently Asked Questions (FAQs)

What is the IndusInd Bank home loan repayment term for salaried persons?

The repayment term for IndusInd Bank home loans for salaried persons is up to 20 years.

What is the minimum age for salaried employees to avail themselves of an IndusInd Bank home loan?

A salaried applicant must be at least 21 to qualify for an IndusInd Bank home loan.

What is the minimum and maximum IndusInd Bank home loan amount for salaried persons?

The salaried person can avail of a maximum Rs 50 lakhs home loan from IndusInd Bank.

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