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Products

Types of Product


1) Home Loan - Purchase of New House/ Construction of New House


Who can apply?
  • Home loan can be availed in individual or joint capacity. All owners/ proposed owners of the property will have to be co-applicants.
  • All applicants to be Indian Residents. NRIs, PIOs will not be eligible.
What will be the Term of the loan?
  • Maximum period for repayment of loan shall be up to 240 months/ 120 months depending upon customer's profile, age of customer at time of maturity of loan and age of property at the time of maturity of loan.
What is maximum loan possible?
  • Applicants can avail maximum loan of up to 80% of market value of the property being acquired or of the cost whichever is lower, subject to individual eligibility as assessed by MAHOFIN.
What will be the Rate of Interest?
  • The Rate of Interest will range from 14% to 18% per annum

2) Home Loan - Resale Purchase of House


Who can apply?
  • Home loan can be availed in individual or joint capacity. All owners/ proposed owners of the property will have to be - applicants.
  • All applicants to be Indian Residents. NRIs, PIOs will not be eligible.
What will be the Term of the loan?
  • Maximum period for repayment of loan shall be up to 240 months/ 120 months depending upon customer's profile, age of customer at time of maturity of loan and age of property at the time of maturity of loan.
What is maximum loan possible?
  • Applicants can avail maximum loan of up to 80% of market value of the property being acquired or of the cost whichever is lower, subject to individual eligibility as assessed by MAHOFIN.
What will be the Rate of Interest?
  • The Rate of Interest will range from 14% to 18% per annum

3) Home Loan - Balance Transfer


Who can apply?
  • Home loan can be availed in individual or joint capacity. All owners/ proposed owners of the property will have to be co-applicants.
  • All applicants to be Indian Residents. NRIs, PIOs will not be eligible.
What will be the Term of the loan?
  • Maximum period for repayment of loan shall be up to 240 months/ 120 months depending upon customer's profile, age of customer at time of maturity of loan and age of property at the time of maturity of loan.
What is maximum loan possible?
  • Applicants can avail maximum loan of up to 80% of market value of the property being acquired or of the cost whichever is lower, subject to individual eligibility as assessed by MAHOFIN.
What will be the Rate of Interest?
  • The Rate of Interest will range from 14% to 18% per annum

4) Loan Against Property


Who can apply?
  • Home loan can be availed in individual or joint capacity. All owners/ proposed owners of the property will have to be co-applicants.
  • All applicants to be Indian Residents. NRIs, PIOs will not be eligible.
What will be the Term of the loan?
  • Maximum period for repayment of loan shall be up to 240 months/ 120 months depending upon customer's profile, age of customer at time of maturity of loan and age of property at the time of maturity of loan.
What is maximum loan possible?
  • Applicants can avail maximum loan of up to 80% of market value of the property being acquired or of the cost whichever is lower, subject to individual eligibility as assessed by MAHOFIN.
What will be the Rate of Interest?
  • The Rate of Interest will range from 14% to 18% per annum

5) Home Loan - Home Extension Loan


You can use this loan to extend an existing house by adding an extra room/floor etc
Who can apply?
  • Home loan can be availed in individual or joint capacity. All owners/ proposed owners of the property will have to be co-applicants.
  • All applicants to be Indian Residents. NRIs, PIOs will not be eligible.
What will be the Term of the loan?
  • Maximum period for repayment of loan shall be upto 240 months/ 10 years depending upon customer's profile, age of customer at time of maturity of loan and age of property at the time of maturity of loan.
What is maximum loan possible?
  • Applicants can avail maximum loan of upto 80 % of market value of the property beingacquired or of the cost whichever is lower, subject to individual eligibility as assessed by MAHOFIN.
What will be the Rate of Interest?
  • The Rate of Interest will be16% per annum

6) Home Loan - Home Improvement Loan


You can use this loan for painting, re-wiring, re-plastering purpose.
Who can apply?
  • Home loan can be availed in individual or joint capacity. All owners/ proposed owners of the property will have to be co-applicants.
  • All applicants to be Indian Residents. NRIs, PIOs will not be eligible.
What will be the Term of the loan?
  • Maximum period for repayment of loan shall be upto 240 months/ 10 years depending upon customer's profile, age of customer at time of maturity of loan and age of property at the time of maturity of loan.
What is maximum loan possible?
  • Applicants can avail maximum loan of upto 80 % of market value of the property beingacquired or of the cost whichever is lower, subject to individual eligibility as assessed by MAHOFIN.
What will be the Rate of Interest?
  • The Rate of Interest will be18% per annum

7) Composite Loan ( Plot + Construction)


8) Commercial Property : Purchase/LAP


Products

Charges


1) Fee structure


Fee payment(Non-refundable)Amount (plus applicable taxes) Payment stage
Application Fee (for all cases) Rs 2500/-At the time of file login
Processing Fee (Loan Against property) 2.5% of Loan Amount Sanctioned (Less) Rs 2500/- Prior to loan disbursement
Processing Fee (Other than Loan Against Property) 2% of Loan Amount Sanctioned (Less) Rs 2500/- Prior to loan disbursement

2) Other Charges


ChargesAmountChargesAmount
Transaction Charges in BT & Top Up LoanRs.1000 Plus Applicable TaxesDisbursement Cheque CancellationRs.2000 Plus Applicable Taxes
Foreclosure statementRs.500 Plus Applicable TaxesStamp Duty/Franking chargesActual Plus Applicable Taxes
Cheque/ECS bounce ChargesRs.1200 Plus Applicable Taxes Duplicate No Dues CertificateRs.500 Plus Applicable Taxes
Cheque/ECS swapping chargesRs.750 Plus Applicable TaxesCopy of property documentsRs.500 Plus Applicable Taxes
Collection pick up chargesRs.500 Plus Applicable TaxesStatement of AccountRs.500 Plus Applicable Taxes
Conversion charges1% Plus Applicable TaxesList of DocumentsRs.1000 Plus Applicable Taxes
External OpinionActual Plus Applicable TaxesStatutory / Regulatory ChargesActual Plus Applicable Taxes
Recovery ChargesActual Plus Applicable TaxesCERSAI RegistryRs.500 Plus Applicable Taxes
Security PDC retrieval ChargesRs.500 Plus Applicable TaxesCharges on Part disbursementRs.1000 Plus Applicable Taxes
Loan Cancellation ChargesRs.3000 Plus Applicable Taxes 

List of Documents


Most Important Terms & Conditions


List of Loan application documents required


a) Identity and Residence Proof

  • Voter ID Card/ PAN Card / Valid Passport/ Valid Driving License (Only for Residential Proof)/ Aadhar Card
  • Utility bill which is not more than 02 months old. (Electricity bill, telephone bill, post-paid mobile bill, gas connection bill)
  • Latest Property/ Municipal Tax Receipt
  • Updated Bank Account Passbook/ Post Office Passbook
  • Copy of the Lease/ Leave & License Agreement duly executed and registered as per the state laws

b) Income Proof

  • Permanent Account Number (PAN Card)
  • Current Account Statements of business entity and Savings Account Statements of the Individual for last 06 months
  • Copies of Bill-Book/ Order Book/ Payment Receipts evidencing business transact
  • Latest Form 26AS( if available)

c) Other Documents

  • Business Profile
  • Details of any outstanding amount as per CIBIL report
  • Certificate of any outstanding (in refinance/ balance transfer case
  • List of documents submitted to lender(in refinance/ balance transfer cases)
  • Cheque for application fee @ 0.5% of amount of loan sought favouring 'Manappuram Home Finance Pvt Ltd'

List of Property documents required


a) Direct Purchase

  • Copy of the Allotment Letter/ Agreement to Sell & Final Sale Deed
  • Receipt(s) of payment made to the Developer/ Builder

b) Resale Purchase

  • Title Documents inclusing proceisou chain of owners of the Property
  • Receipt(s) of payment made to the Seller
  • Copy of Agreement to Sell

c) Construction of House and for Home extension

  • ll Original Totle Documents of the Property
  • No encumbrance proof on the property
  • Copy of the plans, approved by the Local Authorities
  • Construction estimate by an Architect/ Civil or Structural Engineer

d) Balance Transfer

  • List of property documents held by the existing financial institution on their letter head
  • Latest outstanding balance letter from the existing financial institution on their letter head
  • Photocoty of the property documents including evidence of Own Contribution