About Manappuram Mortgage Loan Details 2024

Getting emergency financial funds for your personal or business needs is simplified with a Manappuram Finance Property Loan. For individuals who own a commercial or residential property, it is now possible to provide the property as security against the loan to get the funds. Loan quantum is based on the property value, allowing you to get a sizeable loan quantum for medical emergencies, higher education, business investment or any other non-speculative need.

You can also check the features & benefits of taking SBI Loan Against Property Online.

Apply for IDFC Loan Against Property

Features & Benefits of Manappuram Finance Loan Against Property

Manappuram Finance offers a loan against property for individuals as well as SMEs and other businesses. The idea behind these loans is to ensure that you have access to easy funding in case of an emergency.

To make sure that you are able to get the right kind of financing, this loan is loaded with several beneficial features as mentioned below:

Loan amount: The quantum of finance depends on several factors such as the eligibility of the candidate, the value of the property and the income of the applicant. You can get up to 50% of the value of the property that you have pledged against the loan. The final loan amount also depends upon the manappuram personal loan cibil score of the individual applying for the loan.

Repayment tenure: Manappuram offers a flexible repayment tenure on the loan against property. You can get up to 144 months to repay your loan. The repayment tenure is subject to the age of applicant at the end of the final term. It also depends upon the age of the property at the time of maturity of the loan tenure.

Interest rate: The interest rate offered by Mannapuram is extremely affordable, making it the best option for you to avail emergency funds. The current interest rate offered is between 9.99% per annum. The interest rate depends upon the property that is pledged and the repayment capacity of the individual applying for the loan.

Margin: You can get up to 50% of the value of the property as the final loan quantum. This depends upon the age of the property, the location and the type of property that you wish to pledge.

Security: The property owned by the applicant or the co-applicants is provided as primary security against the property. This is offered by way of depositing the property papers with the bank. Depending upon the profile of the applicant, additional collateral may also be required for this loan. You may also have to provide third party guarantee if required.

Processing fees: A processing fee is applicable on the loan against property provided by Manappuram Finance. The processing fee is 2.5% of the final loan amount that is sanctioned. Manappuram charges 2500 as an application fee for the loan which is deducted from the processing fee after the loan is sanctioned.

Prepayment fees: You have the option of making prepayments towards the loan or foreclosing the loan availed with Manappuram finance. However, you need to make at least 6 EMI repayments before you make any prepayment towards the loan. There are no additional costs levied for the same.

Compare Loan Against Property Interest Rates for Top Banks

Below is the comparison of Muthoot Finance Mortgage Loan Interest Rate with loan against property interest rates of other lenders. You can compare the interest rate offered by different lenders to choose the best option:

Name of the LenderInterest Rate (% p.a.)
State Bank of India10.10% - 11.65%
LIC Housing Finance9.70% - 11.55%
IDFC First Bank9.00% - 20.00%
Federal Bank12.60%
Home First 12.80% - 18.50%
HDFC Bank9.50% - 11.00%
Kotak Mahindra Bank9.15% - 10.50%
PNB Housing Finance9.25% - 12.45%
Bank of Baroda10.85% - 16.50%
ICICI Bank10.85% - 12.50%
Tata Capital10.10%
Bajaj Housing Finance9% - 14%
Muthoot Finance14.50% - 16.50%

You can also compare Loan Against Property Interest Rate from Top Banks Online from Top Lenders.

Fees & Charges for Manappuram Finance Loan Against Property

Manapopuram Finance is the most preferred option for personal loan as well as business loans because of the low interest rate that they provide. For a loan against property, the interest rate that is currently provided is between 9.99% per annum.

The Manappuram Loan Against Property Interest Rate that is levied on your loan depends upon several factors such as the eligibility of the candidate, the value of the property as well as the repayment capacity of the applicant.

With every loan application you will have to bear some additional costs for processing the loan. This also includes the legal fees and other fees that are applicable on the loan. Make sure that you are aware of all the fees that are payable towards the loan before you send in your application.

Here is a list of the most important fees and charges that are levied on a loan against property:

Charges descriptionCharges payable
Application fees2500 for all types of loans
Processing fees2.5% of the loan amount sanctioned. The application fee is deducted from this amount.
Cheque or ECS bounce charges1200 + GST
ECS/Cheque swapping charges750+ GST
Collection pick up charges500+ GST
Stamp duty or Franking chargesAs per actuals
Copy of property documents500+ GST
Statement or regulatory chargesAs per actuals
List of documents1000 + GST
Duplicate No Dues Certificate500+ GST
CERSAI Registration charges500+GST

Types of Manappuram Micro Home Finance Against Property

Flexi Loan Against Property

  • Loan amount: Up to 80% of the property’s market value
  • Repayment tenure: 12 years

Vyapar Plus (Mortgage Loan)

  • Loan amount: Up to 50% of the property value
  • Repayment tenure: Up to 12 years

Commercial Property Loan

  • Loan amount: Up to 50% of the property’s market value
  • Repayment tenure: Up to 12 years

Mahila LAP

  • Loan amount: Up to 40% of the property’s market value
  • Repayment tenure: 8 years

You can also check Loan Against Agriculture Land

Eligibility Criteria for Manappuram Finance Loan Against Property

Before you apply for a loan with Manappuram Finance, it is important to understand if you are eligible for the manappuram land loan or not. Like every NBFC, Manappuram Finance lays down certain eligibility criteria to understand the repayment capacity of the individual. Only when you fulfill all the requirements should you apply for a loan. That way, your chances of getting an approval on the loan are much higher.

The eligibility criteria for Manappuram Finance Loan against property are as follows:

  • These loans are provided to both salaried and self-employed individuals.
  • The application can be made by individuals as well as joint property owners.
  • In case of an individual application, the applicant should be the owner of the property.
  • In case of joint applications, the co-applicants must be co-owners of the property.
  • These loans are only provided to Indian residents. POIs and NRIs are not eligible to apply for this loan.

The properties that are eligible for this loan are as follows:

  • Residential properties that are self-occupied
  • Commercial properties
  • In corporations, land that exceeds 3 cents.
  • In municipal areas, land that exceeds 5 cents.
  • In rural areas, land that exceeds 10 cents.
  • Plots and vacant land with an approach road is also eligible.

Documents Required for Manappuram Finance Loan Against Property

The documentation process for a loan against property with Manappuram Finance is fairly simple. Here is a complete checklist in order to get your loan application sanctioned faster:

Identity proof and address proof:

  • Voters ID/ PAN Card/ Driving License (applicable only as an address proof)/ Adhaar Card
  • Utility bill that is not over 2 months old. This includes telephone bills, electricity bills, post paid bills, gas connection bills etc.)
  • Property tax receipts/ Municipal tax receipts
  • Post office passbook or recently update passbook.
  • Rental agreement or leave and license agreement.

Proof of income

  • PAN Card
  • Last 6 months current account statements for independent businesses or savings account or salary account statements for salaried individuals
  • Bill book copies, payment receipts, order books or other proof of your business transactions.
  • 6 month's salary slip and 2 years IT returns
  • Current form 26AS if applicable.

Other documents required:

  • Business profile
  • Details of the current outstanding as per your CIBIL report.
  • Cheque for the application fee and the processing fees applicable on your loan.

Manappuram Loan Against Property EMI Calculator

You can use the Manappuram Loan Against Property EMI Calculator available online to calculate how much EMI you would be paying. To use the tool, follow the steps given below:

  • Open Loan Against Property EMI Calculator available online.
  • Enter the required loan amount, desired repayment tenure, and the applicable Manappuram Home Loan Interest Rate.
  • Click on the Submit/Calculate button.
  • You will get the monthly EMI amount to be paid to the bank.

View and improve your credit score - for free.

Know how good your score is

Get insights on how to improve it

Unlock offers as per your score

chart_15f235bf64 (1).svg

The best offers from India’s most
trusted banks


Pre-Approved Loan Against Property @9% p.a 

Up to Rs. 5 Crore loan against property can be availed by Salaried and self-employed applicants online as well as offline. The LAP can be used for applied for business expansion, long term working capital, debt consolidation, equipment purchase, medical exigency, education/ marriage of children, holiday and much more. Higher loan amounts are available for select customers.


✅What is a Manappuram Micro Finance loan against property?


Manappuram Loan Against Property is a type of secured loan offered against the mortgage of a self-owned commercial or residential property. A loan against property is very similar to a home loan. You can pledge the property that you own, be it commercial or residential against the loan.

✅What is the quantum of finance provided by Mannapuram Finance?


Manappuram Loan Against property gives you a maximum loan amount of up to 50% of the value of the property. This however depends upon several other factors such as the type of property, the age of the property, location, the CIBIL score of the applicant and other factors.

✅How can I make repayments towards my Manappuram Finance Loan against property?


With Manappuram Finance, you get several flexible repayment options. You have a tenure of up to 144 months with this loan. Repayments are usually made through ECS or auto debit from the account that is associated with the loan.

✅Is it possible to jointly apply for a loan against property?


Yes, you can apply for a loan against property with a co-borrower. However, the co-applicants must also be co-owners of the property. You need to be able to provide the necessary documents to show that the co-applicants jointly hold the title for the property.

✅Do you have a balance transfer option with Manappuram finance?


Yes. Balance transfer facility is available with Manappuram Finance Loan Against Property. This means that any outstanding towards another Loan Against Property held in a different banking institution can be transferred to Mannapuram Finance. This helps you make the most of the low interest rates offered by this NBFC and helps you save quite a bit on the interest that you pay towards the loan.