Mahindra Housing Finance Home Loan
Mahindra Housing Finance offers attractive home loan solutions with interest rates starting at 9.30% p.a. and flexible tenures of up to 25 years. You can avail loans up to ₹1.5 crore, catering to various property-related needs such as home purchase, construction, and renovation. The company provides customized solutions for salaried and self-employed individuals, ensuring a seamless loan experience.
Rate of Interest
9.30% - 11.80%
Loan to Value
80% - 90%
Loan Tenure
Max 25 years
Max Loan Amount
Upto 1.5 Cr
| Rate of Interest | 9.30% - 11.80% |
| Loan Tenure | Max 25 years |
| Age | Salaried/ Self Employed :21 - 70 years |
| Profession | Salaried/Self Employed |
| Income | Metro Cities : 20,000/Month & Above Other Cities : 15,000/Month & Above |
| Nationality | Resident Indian/ NRI |
| Max Loan Amount | Upto 1.5 Cr |
| Plot Purchase | |
| Independent Building | |
| Apartment | |
| Resale Property | |
| New Construction | |
| LTV | 80% - 90% |
| Home Loan | |
| Plot Cum Construction Loan | |
| Balance Transfer | |
| Overdraft Facility | |
| Top Up Facility | |
| Other Offerings | Home Extension Loan, Home Improvement Loan |
| Processing Fees | 1% + Taxes |
| Other Charges | Prepayment Charges & Foreclosure Charges : NIL |
| Overdraft Facilities | |
| Highlights | • Simple documentation • Smaller EMIs • Quick sanction & disbursements • Pleasant & hassle free experience • Flexible policy • Extensive Branch Network |
*Disclaimer: The interest rate, maximum tenure, and other charges are subject to change, it's advisable to check with our experts for the latest information.
| Loan Amount | ₹ 50,00,000 |
| Loan Tenure | 20 years |
| Rate of Interest | 9.30% - 11.80% |
| Monthly EMI | ₹ 45,955 - ₹ 54,358 |
Eligibility Criteria for Mahindra Housing Finance Home Loan
Here are the eligibility criteria for different types of Mahindra Housing Finance Home Loans:
| Criteria | Salaried Applicants | Self-employed Applicants |
|---|---|---|
| Age Range | 21 to 70 years | 21 to 70 years |
| Nationality | Indian/NRI | Indian/NRI |
| Minimum Monthly Income | Rs 25,000 per month | Rs 3 lakhs per annum |
| Maximum Age at Final Repayment | 70 years | 70 years |
Calculate your Mahindra Housing Finance Home Loan eligibility and unlock exclusive offers for you!
Mahindra Housing Finance Home Loan Interest Rates
Standard Home Loan Rates
| Category | Rate of Interest (ROI) |
|---|---|
| Salaried | 9.30% p.a. onwards |
| Self Employed | 9.30% p.a. onwards |
Get the best Home Loan interest rates tailored for you
If you’re looking to choose the right home loan perfectly made according to your needs, then book a call with our experts here.
Mahindra Housing Finance Home Loan Processing Fee and Charges
Processing Charges
| Charge Type | Amount |
|---|---|
| Processing Fees | 0.1% + Taxes |
| Foreclosure Charges | Nil |
| Prepayment / Pre-closure charges | Nil |
Identity Documents
| Doc Name | Salaried | Self Employed |
|---|---|---|
| PAN | ✔ | ✔ |
| Voter ID | ✔ | ✔ |
| Passport | ✔ | ✔ |
| Driving Licence | ✔ | ✔ |
| Aadhar Card | ✔ | ✔ |
| Bank Account Statement or Passbook with Photograph & Bank Stamp on Photo | ✔ | ✔ |
Proof of Income
| Document | Salaried | Self Employed |
|---|---|---|
| Salary slips for the last 3 months | ✔ | ✖ |
| Latest ITR | ✔ | ✔ |
| Bank statements for the last 6 months | ✔ | ✖ |
| Business License | ✖ | ✔ |
| Business Address Proof | ✖ | ✔ |
Mahindra Housing Finance Home Loan Schemes and Top Plans
Comparison
| Feature | Regular Home Loan | Home Construction Loan | Home Renovation Loan | Home Extension Loan | New Purchase Home Loans |
|---|---|---|---|---|---|
| Minimum Loan Amount | ₹15 lakhs | – | – | – | – |
| Maximum Loan Amount | ₹1.5 crore | up to 75% of the construction cost | up to 75% of the construction cost | up to 75% of the construction cost | up to 75% of the construction cost |
| Interest Rate | 9.30% p.a. onwards | – | – | – | – |
| Tenure | Up to 25 years | Up to 20 years | Up to 20 years | Up to 20 years | Up to 20 years |
| Eligible Applicants | Salaried/Self-employed | Salaried/Self-employed | Salaried/Self-employed | Salaried/Self-employed | Salaried/Self-employed |
Details
Regular Home Loan
- Minimum Loan Amount: ₹15 lakh
- Maximum Loan Amount: ₹1.5 crore
- Interest Rate: 9.30% p.a. onwards
- Tenure: Up to 25 years
- Eligible Applicants: Salaried/Self-employed
Home Construction Loan
- Maximum Loan Amount: up to 75% of the construction cost
- Tenure: Up to 20 years
- Eligible Applicants: Salaried/Self-employed
Home Renovation Loan
- Maximum Loan Amount: up to 75% of the construction cost
- Tenure: Up to 20 years
- Eligible Applicants: Salaried/Self-employed
Home Extension Loan
- Maximum Loan Amount: up to 75% of the construction cost
- Tenure: Up to 20 years
- Eligible Applicants: Salaried/Self-employed
New Purchase Home Loans
- Maximum Loan Amount: up to 75% of the construction cost
- Tenure: Up to 20 years
- Eligible Applicants: Salaried/Self-employed
How to Apply?
Applying for an Mahindra Housing Finance home loan is a straightforward process:
- Check Eligibility: Verify that you meet the eligibility criteria for your selected loan product.
- Collect Documents: Gather all the required documents.
- Visit a Local Branch: Visit your nearest Mahindra Housing Finance branch and fill out the application form.
- Submit Documents: Submit your application along with the required documents.
- Application Review: The bank will review your application and documents.
- Loan Approval: Upon approval, your loan will be sanctioned, and you can start your homeownership journey.
Do not want to get into this hassle? Get Mahindra’s best rates in a single call.
Comparison
For detailed comparison between top banks you can visit our compare banks page.
| Bank | Up to Rs. 30 Lakh | Above Rs. 30 Lakh to Rs. 75 Lakh | Above Rs. 75 Lakh |
|---|---|---|---|
| SBI Bank | 8.50% p.a. onwards | 8.5% p.a. onwards | 8.50% p.a. onwards |
| HDFC Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
| LIC Bank | 8.50% – 10.35% p.a. | 8.50% – 10.55% p.a. | 8.50% – 10.75% p.a. |
| ICICI Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
| Kotak Mahindra Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
| Punjab National Bank | 8.50% – 11.05% p.a. | 8.50% – 11.05% p.a. | 8.50% – 11.05% p.a. |
| Bank Of Baroda | 8.40% – 10.65% p.a. | 8.40% – 10.65% p.a. | 8.40% – 10.90% p.a. |
| Bajaj Housing Finance | 8.50% p.a. onwards | 8.50% p.a. onwards | 8.50% p.a. onwards |
| Axis Bank | 8.75%-10.30% p.a. | 8.75%-10.30% p.a. | 8.75%-10.30% p.a. |
| Bank of India | 8.40% p.a onwards | 8.40% p.a onwards | 8.40% p.a onwards |
| TATA Capital | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
You can apply for a loan with Mahindra rural housing finance either online through their official website or by visiting their branch offices with necessary documents.
For Mahindra rural housing finance limited, eligibility criteria typically include age, income stability, property details, and credit score, among other factors.
You can reach the Mahindra rural housing finance customer care number by calling their helpline, which is available on their website, for assistance with loan applications or queries.