Mahalaxmi Home LoanPersonal Banking (Loans)
Mahalaxmi Home Loan is the loan product that aims at providing simplified loan products with higher loan eligibility and flexible accommodation parameters. With the most competitive interest rate and attractive features, customers will have the flexibility to determine their payment amount at their choice.
Purpose of Loan
- Land purchase upto 10 million for residential use
- Purchase of land & Building/Flat/Apartment
- Extension/Renovation/construction of existing building
- Equity financing
- Refinance/Swap of existing home loan.
Between 22 to 65 years however, all repayment shall be completed within borrower’s age of 70 years.
Minimum 400,000.00 to maximum 1,50,00,000.00
Interest Rate : 8.49%
For first home buyer: up to 60% of FMV of the property
For other customers, financing will be as follows:
a. Purchase of independent/ready-built houses and land through individuals and developers/apartment outside valley:
- 60% of Fair Market Value of collateral
b. Purchase of independent/ready-built houses and land through individuals and developers/apartment inside valley:
50% of Fair Market Value of collateral
Accidental insurance of Rs. 5 Lakh