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Here are a few factors

Rating 4 /
Total - 2 ratings
5 ★
1
4 ★
0
3 ★
1
2 ★
0
1 ★
0
Location 50Km from Branch
CIBIL Score 650+
Applicant Salaried or Self Employed Anyone
Applicant Age Salaried 21 Year to 60 Year Self Employed 21 Year to 65 Year
Loan Amount & Tenure 3 Lac to 50 Lac
(5 Year to 25 Year)
Login Fees 5900
Rate of Interest & Type 9% to 15% (Reducing)
TAT 15 Days
Processing Fees 1%-3%
Insurance & Other Charges Insurance Charges:0%-4% 
Foreclosure Charges Nil
Minimum Income Which is fit to cover EMI 
Lock In Period 12 Month
Part Payment Allowed Yes
Home Loan OD Product No
LTV Upto 30 Lac-90% of Property Value, >30 Lac-75% of Property Value
Product Fresh Purchase, Plot Purchase, Plot Purchase+Construction, BT+Top Up, Home Renovation, Seller BT
Program 1. Banking Program-50 Lac
2. LIP Program-50 Lac
3. Cash Income-50 Lac
4. Without ITR-50 Lac
5. Normal Income-50 Lac
CO - Applicant Yes
FOIR 60% of Salary
Negative Profile No Negative Profile
Funded Property Type (i) Residential Property
(ii) Residential Plot Purchase
(iii) Residential Plot Purchase & Construction
Negative Property No Negative Property
Accepted Collateral All Type of Property
Business Vintage for Self Employed Person 1 Year
Minimum Job Experience for Salaried Person 1 Year
Experience with Current Employer 1 Month
Any Specfic Product for Professionals No
USP Funding on all property on all profile
Right Documents - Easy Process

Required Documents to Apply for Mahindra Finance Home Loan

Salaried income documents

  • KYC of applicant & Co-Applicant
  • Last 3 Month Salary Slip of Applicant
  • Last 12 month Bank Statement of applicant & co-applicant
  • Last 3 year ITR with computation of income of applicant & co-applicant
  • Last 2 Year Form 16 of applicant
  • 26AS of last 2 year of applicant & co-applicant
  • Appointment letter of applicant if available
  • Agreement to Sale if purchase case
  • Property Paper with complete chain of last 13 years
  • Approved MAP of Property if available
  • LOD (List of documents), Foreclosure Statement & SOA (Statement of account) if BT case
  • Sanction letter of all running loan
  • Latest utility Bill if owned residence or rent agreement if rented
  • 2 Reference with contact details

Self Employed person documents

  • KYC of applicant & Co-Applicant
  • Last 3 year ITR with computation of income of applicant & co-applicant
  • Last 3 year audited balance sheet of applicant
  • Last 3 year Tax audit report of applicant
  • Last 12 month Bank Statement of applicant & co-applicant
  • 26AS of last 2 year of applicant & co-applicant
  • Copy of GST registration
  • Copy of MSME registration
  • Copy of Last 12 month GST return
  • Agreement to Sale if new purchase case
  • Property Paper with complete chain of last 13 years
  • Approved MAP of Property if available
  • LOD (List of documents), Foreclosure Statement & SOA (Statement of account) if BT case
  • Sanction letter of all running loan
  • Debt Sheet
  • Latest utility Bill of residence if owned or rent agreement if rented
  • Latest utility Bill of Office if owned or rent agreement if rented
  • 2 Reference with contact details
  • Last 3 year Debtors & Creditors on letter head
  • List of Directors & Shareholders, if applicant if Company or List of Partners if applicant is Partnership firm/LLP

Some Important Points

1. KYC Means
If Applicant is
  • Company-MOA, AOA, COI , PAN Card
  • Partnership Firm/LLP- Partnership Deed & PAN Card
  • Proprietorship Firm- PAN Card, Adhaar Card, Passport size photo
For Co-Applicant
  • KYC means  Adhaar Card, PAN Card, Passport Size Photo

Co-Applicant means in case of
  • Company : Directors
  • Partnership firm/LLP : Partners
  • Proprietorship Firm : Spouse of Proprietor
2. If LAP is applied with Government Bank then 30 year chain is required
3. If applicant is professional, then his professional degree is required
Share & Apply

About Mahindra Finance Home Loan

Ordinary people who depend on their monthly paychecks for living costs sometimes struggle to come up with the huge amount of available money needed to realize their goal of homeownership. In these situations, Mahindra Finance Home Loan enables you to obtain Housing Financing with the lowest possible eligibility requirements.

Mahindra Finance offers simple home loans that you may use for building, renovating, or purchasing a home. The loans are provided as specialized finance arrangements.

A Mahindra Finance Home Loan offers low-interest rates and flexible payback terms of up to 20 years. Depending on your comfort level, you may choose the loan amount, term, and EMI.

Work Process

Start with Mahindra Finance Bank Home Loan in few step

01
Visit Our Website

For the first step, you will have to visit our website to explore the loan options that fit your needs.

02
Select and Apply

Once you shortlist the loan you have been looking for, apply for it, and proceed with the further process.

03
Submit Your Document

One of the most important steps. Now you will have to submit all the required documents digitally.

04
Enjoy Your Financial Freedom!

Once your application is approved based on your eligibility, you will receive your loan amount shortly.

Let us take an example, How Home Loan Emi is being calculated.

For instance, if "Shubham" applies for a Home loan of INR 10 Lacs and get the loan sanctioned at the rate of 10 % with a tenure range of 10 years or 120 Months , in such a case his EMI would be INR 13,215 and complete repayment amount till the end of 10 years tenure would be 15,85,809 (i.e 13,215 EMI * 120 months),, wherein the total interest amount is INR 5,85,809 along with principal repayment of INR 10,00,000.Few additional charges like those of minimal one-time processing fee upto 7% of loan amount may apply. T& C apply.
Year EMI Interest Paid Principle Paid Outstanding Balance
₹13215.07 ₹49382.95 ₹29907.47 ₹1506518.42
Jul ₹13215.07 ₹8333.33 ₹4881.74 ₹1572593.77
Aug ₹13215.07 ₹8292.65 ₹4922.42 ₹1559378.70
Sep ₹13215.07 ₹8251.63 ₹4963.44 ₹1546163.63
Oct ₹13215.07 ₹8210.27 ₹5004.80 ₹1532948.56
Nov ₹13215.07 ₹8168.56 ₹5046.51 ₹1519733.49
Dec ₹13215.07 ₹8126.51 ₹5088.56 ₹1506518.42
₹13215.07 ₹94107.33 ₹64473.54 ₹1347937.58
Jan ₹13215.07 ₹8084.10 ₹5130.97 ₹1493303.35
Feb ₹13215.07 ₹8041.35 ₹5173.73 ₹1480088.28
Mar ₹13215.07 ₹7998.23 ₹5216.84 ₹1466873.21
Apr ₹13215.07 ₹7954.76 ₹5260.32 ₹1453658.14
May ₹13215.07 ₹7910.92 ₹5304.15 ₹1440443.07
Jun ₹13215.07 ₹7866.72 ₹5348.35 ₹1427228.00
Jul ₹13215.07 ₹7822.15 ₹5392.92 ₹1414012.93
Aug ₹13215.07 ₹7777.21 ₹5437.86 ₹1400797.86
Sep ₹13215.07 ₹7731.89 ₹5483.18 ₹1387582.79
Oct ₹13215.07 ₹7686.20 ₹5528.87 ₹1374367.72
Nov ₹13215.07 ₹7640.13 ₹5574.95 ₹1361152.65
Dec ₹13215.07 ₹7593.67 ₹5621.40 ₹1347937.58
₹13215.07 ₹87356.11 ₹71224.78 ₹1189356.74
Jan ₹13215.07 ₹7546.82 ₹5668.25 ₹1334722.51
Feb ₹13215.07 ₹7499.59 ₹5715.48 ₹1321507.44
Mar ₹13215.07 ₹7451.96 ₹5763.11 ₹1308292.37
Apr ₹13215.07 ₹7403.93 ₹5811.14 ₹1295077.30
May ₹13215.07 ₹7355.51 ₹5859.57 ₹1281862.23
Jun ₹13215.07 ₹7306.68 ₹5908.40 ₹1268647.16
Jul ₹13215.07 ₹7257.44 ₹5957.63 ₹1255432.09
Aug ₹13215.07 ₹7207.79 ₹6007.28 ₹1242217.02
Sep ₹13215.07 ₹7157.73 ₹6057.34 ₹1229001.95
Oct ₹13215.07 ₹7107.26 ₹6107.82 ₹1215786.88
Nov ₹13215.07 ₹7056.36 ₹6158.72 ₹1202571.81
Dec ₹13215.07 ₹7005.04 ₹6210.04 ₹1189356.74
₹13215.07 ₹79897.95 ₹78682.93 ₹1030775.90
Jan ₹13215.07 ₹6953.29 ₹6261.79 ₹1176141.67
Feb ₹13215.07 ₹6901.10 ₹6313.97 ₹1162926.60
Mar ₹13215.07 ₹6848.49 ₹6366.59 ₹1149711.53
Apr ₹13215.07 ₹6795.43 ₹6419.64 ₹1136496.46
May ₹13215.07 ₹6741.94 ₹6473.14 ₹1123281.39
Jun ₹13215.07 ₹6687.99 ₹6527.08 ₹1110066.32
Jul ₹13215.07 ₹6633.60 ₹6581.47 ₹1096851.25
Aug ₹13215.07 ₹6578.75 ₹6636.32 ₹1083636.18
Sep ₹13215.07 ₹6523.45 ₹6691.62 ₹1070421.11
Oct ₹13215.07 ₹6467.69 ₹6747.39 ₹1057206.04
Nov ₹13215.07 ₹6411.46 ₹6803.61 ₹1043990.97
Dec ₹13215.07 ₹6354.76 ₹6860.31 ₹1030775.90
₹13215.07 ₹71658.81 ₹86922.05 ₹872195.06
Jan ₹13215.07 ₹6297.59 ₹6917.48 ₹1017560.83
Feb ₹13215.07 ₹6239.95 ₹6975.13 ₹1004345.76
Mar ₹13215.07 ₹6181.82 ₹7033.25 ₹991130.69
Apr ₹13215.07 ₹6123.21 ₹7091.86 ₹977915.62
May ₹13215.07 ₹6064.11 ₹7150.96 ₹964700.55
Jun ₹13215.07 ₹6004.52 ₹7210.55 ₹951485.48
Jul ₹13215.07 ₹5944.43 ₹7270.64 ₹938270.41
Aug ₹13215.07 ₹5883.85 ₹7331.23 ₹925055.34
Sep ₹13215.07 ₹5822.75 ₹7392.32 ₹911840.27
Oct ₹13215.07 ₹5761.15 ₹7453.92 ₹898625.20
Nov ₹13215.07 ₹5699.03 ₹7516.04 ₹885410.13
Dec ₹13215.07 ₹5636.40 ₹7578.67 ₹872195.06
₹13215.07 ₹62556.94 ₹96023.92 ₹713614.22
Jan ₹13215.07 ₹5573.24 ₹7641.83 ₹858979.99
Feb ₹13215.07 ₹5509.56 ₹7705.51 ₹845764.92
Mar ₹13215.07 ₹5445.35 ₹7769.72 ₹832549.85
Apr ₹13215.07 ₹5380.60 ₹7834.47 ₹819334.78
May ₹13215.07 ₹5315.31 ₹7899.76 ₹806119.71
Jun ₹13215.07 ₹5249.48 ₹7965.59 ₹792904.64
Jul ₹13215.07 ₹5183.10 ₹8031.97 ₹779689.57
Aug ₹13215.07 ₹5116.17 ₹8098.90 ₹766474.50
Sep ₹13215.07 ₹5048.68 ₹8166.39 ₹753259.43
Oct ₹13215.07 ₹4980.63 ₹8234.45 ₹740044.36
Nov ₹13215.07 ₹4912.01 ₹8303.07 ₹726829.29
Dec ₹13215.07 ₹4842.81 ₹8372.26 ₹713614.22
₹13215.07 ₹52501.99 ₹106078.90 ₹555033.38
Jan ₹13215.07 ₹4773.04 ₹8442.03 ₹700399.15
Feb ₹13215.07 ₹4702.69 ₹8512.38 ₹687184.08
Mar ₹13215.07 ₹4631.76 ₹8583.32 ₹673969.01
Apr ₹13215.07 ₹4560.23 ₹8654.84 ₹660753.94
May ₹13215.07 ₹4488.11 ₹8726.97 ₹647538.87
Jun ₹13215.07 ₹4415.38 ₹8799.69 ₹634323.80
Jul ₹13215.07 ₹4342.05 ₹8873.02 ₹621108.73
Aug ₹13215.07 ₹4268.11 ₹8946.97 ₹607893.66
Sep ₹13215.07 ₹4193.55 ₹9021.52 ₹594678.59
Oct ₹13215.07 ₹4118.37 ₹9096.70 ₹581463.52
Nov ₹13215.07 ₹4042.57 ₹9172.51 ₹568248.45
Dec ₹13215.07 ₹3966.13 ₹9248.95 ₹555033.38
₹13215.07 ₹41394.13 ₹117186.75 ₹396452.54
Jan ₹13215.07 ₹3889.05 ₹9326.02 ₹541818.31
Feb ₹13215.07 ₹3811.34 ₹9403.74 ₹528603.24
Mar ₹13215.07 ₹3732.97 ₹9482.10 ₹515388.17
Apr ₹13215.07 ₹3653.95 ₹9561.12 ₹502173.10
May ₹13215.07 ₹3574.28 ₹9640.80 ₹488958.03
Jun ₹13215.07 ₹3493.94 ₹9721.14 ₹475742.96
Jul ₹13215.07 ₹3412.93 ₹9802.14 ₹462527.89
Aug ₹13215.07 ₹3331.24 ₹9883.83 ₹449312.82
Sep ₹13215.07 ₹3248.88 ₹9966.19 ₹436097.75
Oct ₹13215.07 ₹3165.83 ₹10049.25 ₹422882.68
Nov ₹13215.07 ₹3082.08 ₹10132.99 ₹409667.61
Dec ₹13215.07 ₹2997.64 ₹10217.43 ₹396452.54
₹13215.07 ₹29123.16 ₹129457.74 ₹237871.70
Jan ₹13215.07 ₹2912.50 ₹10302.58 ₹383237.47
Feb ₹13215.07 ₹2826.64 ₹10388.43 ₹370022.40
Mar ₹13215.07 ₹2740.07 ₹10475.00 ₹356807.33
Apr ₹13215.07 ₹2652.78 ₹10562.29 ₹343592.26
May ₹13215.07 ₹2564.76 ₹10650.31 ₹330377.19
Jun ₹13215.07 ₹2476.01 ₹10739.07 ₹317162.12
Jul ₹13215.07 ₹2386.52 ₹10828.56 ₹303947.05
Aug ₹13215.07 ₹2296.28 ₹10918.80 ₹290731.98
Sep ₹13215.07 ₹2205.29 ₹11009.79 ₹277516.91
Oct ₹13215.07 ₹2113.54 ₹11101.53 ₹264301.84
Nov ₹13215.07 ₹2021.03 ₹11194.05 ₹251086.77
Dec ₹13215.07 ₹1927.74 ₹11287.33 ₹237871.70
₹13215.07 ₹15567.22 ₹143013.65 ₹79290.86
Jan ₹13215.07 ₹1833.68 ₹11381.39 ₹224656.63
Feb ₹13215.07 ₹1738.84 ₹11476.24 ₹211441.56
Mar ₹13215.07 ₹1643.20 ₹11571.87 ₹198226.49
Apr ₹13215.07 ₹1546.77 ₹11668.30 ₹185011.42
May ₹13215.07 ₹1449.53 ₹11765.54 ₹171796.35
Jun ₹13215.07 ₹1351.49 ₹11863.59 ₹158581.28
Jul ₹13215.07 ₹1252.62 ₹11962.45 ₹145366.21
Aug ₹13215.07 ₹1152.94 ₹12062.14 ₹132151.14
Sep ₹13215.07 ₹1052.42 ₹12162.65 ₹118936.07
Oct ₹13215.07 ₹951.06 ₹12264.01 ₹105721.00
Nov ₹13215.07 ₹848.86 ₹12366.21 ₹92505.93
Dec ₹13215.07 ₹745.81 ₹12469.26 ₹79290.86
₹13215.07 ₹2262.21 ₹77028.26 ₹0.44
Jan ₹13215.07 ₹641.90 ₹12573.17 ₹66075.79
Feb ₹13215.07 ₹537.13 ₹12677.95 ₹52860.72
Mar ₹13215.07 ₹431.48 ₹12783.60 ₹39645.65
Apr ₹13215.07 ₹324.95 ₹12890.13 ₹26430.58
May ₹13215.07 ₹217.53 ₹12997.55 ₹13215.51
Jun ₹13215.07 ₹109.22 ₹13105.86 ₹0.44
Leave Your Question

FREQUENTLY ASKED QUESTIONS

Mahindra Home Finance offers various types of home loans, such as home purchase loan, home construction loan, home extension loan, home improvement loan, plot loan, and mortgage loan.

Mahindra Home Finance offers both floating and fixed interest rate options. The interest rates for home loans may vary depending on the borrower's eligibility criteria and the loan amount.

 To apply for a home loan with Mahindra Home Finance, one needs to fill out an application form, submit the required documents, and undergo a credit evaluation. After the loan is approved, the applicant can complete the loan disbursal process.

 Mahindra Home Finance allows pre-closure or foreclosure of their home loans after the payment of a certain percentage of the principal amount. The exact pre-closure or foreclosure policy can vary based on the type of loan and the loan tenure. Applicants can contact Mahindra Home Finance for more information on their pre-closure or foreclosure policy.

 

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