The process of applying for a loan with us is very simple and quick. Some of the ways to apply for a loan are:

  • Call our customer care executive at toll-free number 1800 102 1616
  • Visit the nearest Muthoot Housing Finance branch
  • Click on Apply Now on our website, share your details and our customer care executives will get in touch to help you complete your application form
The minimum loan amount you can avail is Rs. 3 lakhs while the maximum loan amount is Rs 40 lakhs.
Once the loan amount is disbursed to your account, you make a monthly installment to pay the amount back within a fixed tenure. This is known as EMI or Equated Monthly Installment. With each EMI you pay the principal amount and the interest. For our home loan products, we offer the monthly installment payment schedule.
You can use the property for which you are taking a loan is the collateral or security. The loan applicant/s should have clear title of the property. The property needs to meet the norms of Muthoot Housing Finance in terms of Legal clearance and Technical clearance.

Our eligibility requirements are very simple:

  • Applicant should be an Indian Resident
  • Minimum age of the applicant should be 21 years at the time of submitting the application
  • The applicant’s age at the time of loan payment should not be more than 65 years
  • The applicant can be a salaried or self-employed individual

A co-applicant to the loan is mandatory and should meet the credit underwriting norms laid down by the company. A co-applicant can be one or more of:

  • Spouse
  • Blood relative (immediate family members – Father, mother, son)
  • Co-owners of a property must be necessarily a co-applicant in the loan structure
Yes, if there is a delay in your EMI or a cheque bounces, a nominal charge of Rs. 500 + GST is applicable.
Only a self-occupied residential property can be collateral to a loan where construction is ongoing or in case of Loan against Property. In case of a loan for purchasing a home, the property must be for the purpose of self-occupation only.
PDC stands for post-dated cheques. The cheques are deposited with us until the NACH facility with the bank is activated. The number of PDCs will be determined and you will get the information for the number of cheques and amount of each cheque at the time of application processing and loan amount disbursal.
NACH is the National Automated Clearing House and is a centralised web-based payment solution that helps banks to handle bulk payments.

This is an important process for both the customer and the company to create a mortgage on the property offered as collateral. This can be done by:

  • Project approvals verification from the corporation or any other relevant authority
  • Ownership documents confirmation from the sub-registrar office (SRO) where documents are registered
  • Share certificate related to societies can be verified from society.
  • Home Loans
  • Resale Loans
  • Home improvement loans
  • Self-construction loans
  • Loan Against Property
Yes, the tenure you choose has a direct impact on the EMI. The longer the tenure, the lower is the EMI
Individual cover and Collateral (Property Insurance) are covered in insurance offers made by Muthoot Housing Finance.
LTV stands for Loan to Value and is a percentage of the value of the property as determined by the credit norms. Depending on the type of loan you are availing, the LTV will vary. They are subject to the norms of the credit parameters laid down by the company.
The EMI for all loans availed at MHFL is the 10th of the month. If the 10th is either a Sunday or a Public Holiday, the EMI due date will be the next working day.

MHFL offers convenient ways of making repayments:

  • NACH
  • PDCs
Yes. MHFL offers you the facility to repay your loan ahead of schedule.

To get your relevant documents:

  • Visit your nearest Muthoot Housing Finance Branch
  • Discuss with our customer care executive at the toll-free number: 1800 102 1616
  • There are nominal charges associated with the request and the same are clearly listed here

While our endeavour is to offer as seamless a process as possible once the loan is foreclosed, getting back your documents can take up to 21 days from the closure of the loan. An NOC from MHFL towards the loan closure is also given to the customer.
Yes. We offer attractive rates of interest to our customers and a “Balance Transfer” of an existing Home loan or Loan against property. We would require the exact principal outstanding Letter (POS Letter) and the List of Documents (LOD) from the other institution with your application form

The process of applying for a loan is a very simple process with minimal documentation. All applications must be accompanied with:

  • Latest Photograph of the Applicant/Co-applicants
  • Income documents of the Applicants/Co-applicants (as applicable)
  • Bank Statement of the Applicant/C-applicants (as applicable)
  • Address Proof of the Current Residence
  • Identity Proof of the Applicant(s)
  • Property Related documents of the collateral being mortgaged
Yes, a nominal fee of Rs. 5000 + GST as applicable payable by Cheque should be attached to the application form. The cheque must be from a Live account only.

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