Muthoot Finance Ltd Loan Against Property

Muthoot Finance Ltd
4.5
Muthoot Finance Ltd. has always strived to uphold and maintain a working environment based on transparency and conscience. The company has always prioritized trust as its biggest principle.

Apply for Loan Against Property(LAP)

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Muthoot Finance Ltd

Muthoot Finance Ltd LAP

  • Interest Rate

    14.5% - 16.5%

  • Loan Amount

    ₹2L - ₹35L

  • EMI Per Lakh

    ₹2,353 - ₹2,458

  • Processing Fees

    2.50% plus GST
  • Pre-Payment Charges

    Foreclosure/Part prepayment within 1 year of disbursement: 5% of loan amount plus prepaid taxes

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.

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.

Amount of Loan Rate of Interest Time Period Instalments Amount of Interest (Total) TOTAL AMOUNT
₹ 50,00,000 12.50% 1 ₹ 4,45,414 ₹ 3,44,972 ₹ 53,44,972
₹ 50,00,000 12.50% 2 ₹ 2,36,537 ₹ 6,76,877 ₹ 56,76,877
₹ 50,00,000 12.50% 3 ₹ 1,67,268 ₹ 10,21,653 ₹ 60,21,653
₹ 50,00,000 12.50% 4 ₹ 1,32,900 ₹ 13,79,200 ₹ 63,79,200
₹ 50,00,000 12.50% 5 ₹ 1,12,490 ₹ 17,49,381 ₹ 67,49,381

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

FAQs

From refinancing to reducing your interest, we have the answers right here.

What are the benefits of Muthoot Finance Ltd. Provided a loan against property?

Muthoot Finance Ltd. offers loans against property for almost half of the value of your property. It also provides loans at fixed and variable interest rates.

Does Muthoot Finance Ltd. have a fixed rate of interest on a loan against property?

Muthoot Finance Ltd. provides both fixed and variable rates of interest on loans against property.

Muthoot Finance Ltd. checks for CIBIL Score for loan against property?

Yes, Muthoot Finance Ltd. checks the CIBIL Score for loans against property.

What are the maximum and minimum loan against property amounts I can get from Muthoot Finance Ltd.?

The maximum loan amount that can be sanctioned for loan against property is of Rs. 10,00,000

What are the KYC documents I will have to submit to apply for a loan against property from Muthoot Finance Ltd.?

One needs to submit proof of address, proof of identity, and some income proof to apply for the loan.

What is the processing fee on Muthoot Finance Ltd. loan against property?

The Muthoot Finance Ltd. loan processing fee against property is 2.50% + GST.

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