Muthoot Finance Loan Against Property

Features & Benefits of Muthoot Finance Loan Against Property?

The following is a list of features and benefits of Muthoot Finance Ltd. LAP including the following:

• Muthoot Capital provides loans secured by real estate and authorises loans between Rs. 2 lakh and Rs. 35 lakh.
• The loan term varies from six months to three years.
• Companies and individuals can make use of the real estate they own.
• The loan is approved to cover any emergency funding needs for working capital, fixed assets, both, or consumer use.
• Less focus is placed on using the money for business reasons and more on the security’s worth.
• You have the option of paying back the loan amount all at once or in equal monthly instalments with interest at the end of the authorised period.
• Interest must be paid each month if you choose bullet repayments.
• Muthoot Finance Ltd. also allows lenders to avail themselves of the benefit of part payment.

Muthoot Finance Loan Against Property Overview 

A completely owned subsidiary of Muthoot Finance Ltd., Muthoot Homefin (India) Ltd., provides loans secured by real estate at interest rates starting at 14.50% p.a. for loan amounts up to Rs. 30 lakh and repayment terms up to 20 years. The housing financial company (HFC) provides loans to people against their homes for a variety of things, including paying for medical costs, expanding their businesses, getting working capital, etc. Applications for Muthoot Homefin Loan Against Property, according to the lender, are approved within 48 hours.

Muthoot Finance Loan Against Property Fees and Charges

The following are the processing fees and additional costs associated with applying for a Muthoot Finance loan secured by property:

Muthoot Finance Ltd. Loan Against Property Interest Rates 

Interest rates for Muthoot Finance Loan Against Property are fixed and range from 14.50% to 16.50% p.a. Based on the employment history of their loan applicants, the lender offers the following interest rates:

Muthoot Finance Ltd. has not stated whether it offers different loan against property interest rates for its loan applicants based on their credit scores, monthly income, or occupation profiles, but the majority of lenders take these factors into account when determining the loan against property interest rates of their loan applicants.

Factors affecting Muthoot Finance Loan Against Property 

The applicants must be aware of the interest rate before requesting any loan facility. Affordable interest rates automatically aid your ability to repay your loan. As the interest rate rises, so will the EMI amount. Your payback burden is lessened with a personalised Muthoot Finance Ltd. loan against property interest rates.

The table below displays some of the most important details surrounding Muthoot Finance Ltd. Against Property:

• A wide range of non-home loan options, such as loans for purchasing and building a commercial property, residential and commercial property, lease rental discounting, and more.
• An extensive branch network in India.
• An efficient service model with on-site resources for quick processing and disbursement.
• Possibilities for increasing the loan amount if costs rise.
• Team of committed employees working to guarantee customer pleasure.
• Flexible Repayment alternatives.

Documents required for Muthoot Finance Loan Against Property 

The paperwork is simple and hassle-free. The following papers must be submitted with the application for a loan from Muthoot Finance Ltd. secured by real estate:

For Salaried Individuals

• Documents for KYC
• Address Proof
• Signature Proof
• Proof of Identification
• D.O.B. Proof
• Proof of Salary (3-6 Months)
• Last 2 years Form 16
• Statement of Bank Account (3-6 months)
• Qualification Proof
• Details of existing loan (if any) 

For Salaried Individuals

• Documents for KYC
• Address Proof
• Signature Proof
• Proof of Identification
• D.O.B. Proof
• Office Address Proof
• Qualification Proof (if any)
• IT Return (last 2 years)
• Statement of Bank Account (3-6 months)
• Details of existing loan (if any)

How the EMI calculation Works for Muthoot Finance Loan Against Property?

It is simpler to obtain a home loan from Muthoot Housing Finance. You may calculate your monthly home loan repayment obligation with the Muthoot Finance Home Loan EMI Calculator by using information like the interest rate, loan principal, and loan tenure.  You may estimate the annual cost as well as the monthly interest that will be paid with an EMI. The findings of the Muthoot Finance Home Loan EMI Calculator are provided right away. You can also easily determine whether you meet the requirements for a house loan.

You will be given the required EMI amount once you have submitted the necessary information. The online Muthoot Finance Loan Against Property EMI calculator is a free resource that can be used repeatedly and in many configurations. Using this EMI calculator, you may quickly come to a decision that fits your needs and budget.

The monthly payment on a mortgaged loan is determined by the type of property (commercial, industrial, or residential), the occupation (employed, self-employed, or businessman), the loan’s tenure, the interest rate, and the loan’s total amount.

Muthoot Finance Loan Against Property Customer Care Number

Borrowers facing any issues related to Muthoot Finance Ltd. LAP services can be resolved quickly and hassle-free. Individuals can contact customer care at the below number.

Muthoot Finance Ltd. toll free number-

• North, East, and West India: 1800 313 1212
• South India: 9946901212