| Muthoot Homefin Loan Against Property Highlights 2024 | |
| Interest rates | 15.25% to 18.25% p.a. |
| Loan amount | Up to Rs 30 lakh |
| Loan tenure | Up to 20 years |
| Loan to Value (LTV) Ratio | 60% of property’s value |
| Processing Fees | 2.50% plus GST |
Note: Interest rates as of 5th November 2024
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Muthoot Homefin Loan Against Property Interest Rates
Muthoot Homefin Loan Against Property interest rates (fixed) range between 15.25% to 18.25% p.a. The interest rates offered by the lender, based on the employment profile of their loan applicants, are as follows:
| Employment profile | Interest rates (p.a.) |
|
| Residential Property | Commercial Property | |
| Salaried | 15.25% | 16.25% |
| Formal self-employed professional/non-professional | 16.25% | 17.25% |
| Formal self-employed professional/non-professional | 17.25% | 18.25% |
Although Muthoot Homefin has not disclosed offering different loan against property interest rates for its loan applicants based on their credit scores, monthly income or occupation profile, most lenders consider these factors while setting the loan against property interest rates of their loan applicants.
Compare Interest Rates on Loan Against Property for Top Banks & HFCs
| Name of the Lender | Interest Rate (% p.a.) | |
| State Bank of India | 9.75-11.05 | Apply Now |
| Bank of Baroda | 10.85-18.35 | Apply Now |
| PNB Housing Finance | 9.25-15.00 | Apply Now |
| IDFC First Bank | 9.00-16.50 | Apply Now |
| HDFC Bank Limited | 9.50-11.00 | Apply Now |
| L&T Housing Finance | 9.50 onwards | Apply Now |
| LIC Housing Finance | 9.50-11.55 | Apply Now |
| Godrej Housing Finance | 9.75 onwards | Apply Now |
| ICICI Bank | 10.85-12.50 | Apply Now |
| Tata Capital | 9.00 onwards | Apply Now |
| Axis Bank | 10.50-10.95 | Apply Now |
| Punjab National Bank | 10.15-14.00 | Apply Now |
Check LAP Interest Rates From Top Lenders Click Here
Fees and Charges for Availing Muthoot Homefin Loan Against Property
The loan against property processing fees and other charges for availing Muthoot Homefin loan against property are as follows:
| Loan Product | Rates |
| Processing Fees | 2.50% plus GST |
| Part prepayment or foreclosure charges |
|
Muthoot Homefin Loan Against Property Eligibility Criteria
Salaried, self-employed professionals/non-professionals and self-employed professionals and business entities are eligible to apply for Muthoot Homefin Loan Against Property
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Documents Required for Availing Muthoot Homefin Loan Against Property
The loan against property documents required for loan applicants availing Muthoot Homefin loan against property are mentioned below:
For Salaried
- KYC Documents
- Proof of address
- Signature proof
- Photo ID proof
- Proof of date of birth
- Salary slip/certificate for 3 months
- Form 16 of last 2 years
- Bank statements for last 6 months
- Proof of qualification
- Existing Loan details along with documents like Sanction letter and State of Account (SOA)
For Self Employed
- KYC Documents
- Proof of address
- Photo ID proof
- Signature proof
- Proof of date of birth
- Proof of office address
- Professional qualification certificate (if any)
- Last 2 year Income Tax returns along with computation of income, Profit & Loss A/c and Balance Sheet.
- Last bank statements for 6 months
- Existing loan details along with documents like sanction letter and statement of account (SOA)
Note: Muthoot Homefin may ask its loan applicants to provide additional loan against property documents, if necessary, based on the loan applicant’s profile.