Muthoot Finance
Home Loan

Muthoot Finance has a rich legacy of over 800 years. The company operates in 20 divisions including Financial Services, Wealth Management, and Forex. It enjoys a strong presence in India with over 4500 branches. The company’s benchmark project – Muthoot Home Fin offers home loans at an attractive rate of interest and unmatched features, making it a well known home loan lender.

The features and benefits of the Muthoot Finance Housing Loan that make the scheme attractive are:

• Quick loan sanction in 48 hours
• Pre-approved Property Projects for faster home loan processing
• Doorstep service and loan assistance
• Online home loan account for easy management
• Competitive rate of interest starting at 12.50% p.a. 
• No hidden charges
• The high loan-to-value ratio of up to 90% for loans up to Rs. 30 lakh
• Maximum LTV ratio of 80% for home loans between Rs. 30 lakh to Rs. 50 lakh
• Repayment through easy EMIs.
• Option to choose between Floating and Fixed rate of interest.
• Flexible loan tenure of up to 25 years.

Also Read - Home Loan Tax Benefits

Muthoot Finance housing loan interest rate is linked to the Retail Prime Lending Rate (RPLR). The current RPLR is 15.95% p.a. The effective rate of interest on Muthoot Finance home loan starts at 12.50% p.a. 

Also Check - SBI Home Loan Interest Rates

The home loan processing fee and other charges charged on Muthoot Finance housing loan are as under:

Also Read - Home Loan Processing Fees of All Banks/NBFC

Muthoot Home Loan follows the following eligibility criteria:

Also Check - Home Loan Eligibility Criteria of SBI Bank

Muthoot Finance offers a range of home loan schemes. These schemes can be customized to meet the individual needs of home loan seekers. The schemes available are:

• Housing Loan for Purchase: All resident individuals are eligible to avail loan for the purchase of a new or under-construction property. The maximum principal loan amount that can be availed under the scheme is limited to Rs. 30 lakh with 90% LTV.
• Housing Loan For Refinancing Of Property: A loan for the refinancing of property helps customers to avail of a loan under the scheme against property that has already been purchased or acquired by them. The maximum repayment tenure under this scheme is 20 years.
• Top-up Loan: The scheme is a top-up for existing home loans. It is available to customers for the repair and renovation of existing residential property. A loan up to Rs. 30 lakh can be availed with a maximum repayment term of 15 years.
• Home Extension Loan: This scheme can be availed for the extension of property already owned. The maximum loan amount that is availed under the scheme is Rs. 50 lakh to be repaid in 20 years.
• Home Loan Balance Transfer and Top Up Balance: Transfer your ongoing home loan from any bank or non-banking financial company. Transfer loan up to Rs. 50 lakh to be repaid in a maximum of 20 years.
• Housing Loan for Home Construction: This scheme is offered to people who own a piece of land and require finances for construction thereon. Loan under the scheme can be availed up to Rs. 30 lakh to be repaid in 20 years.
• Housing Loans for NRIs: Eligible Non-resident Indians can avail of home loans under this scheme. Loan proceeds can be used for the purchase, construction, repair, renovation of a property. The loan is to be repaid in a maximum of 15 years.

Check for 50 lakh home loan EMI and apply easily on MyMoneyMantra.

Home loan borrowers can check the exact amount of home loan EMI using the Muthoot Finance Home Loan Calculator. This can help make changes in the principal amount, rate of interest, and loan tenure to reach the ideal EMI amount which matches the repayment capacity. The table below lists the Muthoot Finance home loan EMI for different principal amounts and loan tenures. Muthoot Finance home loan interest rate is taken as 12.50% p.a.

Also Read - 5 Tips to Manage Your Home Loan EMI

Also Check - Documents Required for SBI Home Loan

Online portal MyMoneyMantra.com offers comprehensive information and end-to-end support to home loan seekers. The loan application process at MyMoneyMantra.com is simple and hassle-free. If you are looking for how to get a home loan from Muthoot Finance here’s help: 

• Visit the official website of MyMoneyMantra
• Scroll down the Home Page and click on the Home Loan link
• Fill up the form with the required information
• Submit the inquiry form

MyMoneyMantra will contact you on receiving the home loan inquiry request on the provided contact number to discuss and process your Muthoot Finance home loan request.

Also Read - 10 Best Home Loan Interest Rates

Home loan customers can reach Muthoot Finance Home Loan Customer Care on the following helpline numbers: 

• 1800-121-1214
• +91-22-3911-0900
• +91-22-3911-0999

Also Check - SBI Home Loan Customer Care