| Manappuram Home Finance Loan Against Property Highlights | |
| Interest rate | 13% to 26% p.a. |
| Loan amount | Up to 80% of the market value |
| Repayment tenure | 12 years |
| Processing fee | 2.5% of the loan amount +taxes |
Note: Interest rates updated as of 5 November 2024
Check Lenders Offering Loan Against Property at Low Interest Rates Click Here
Manappuram Loan Against Property Interest Rate
| Type of LAP | Interest rate (p.a.) |
| Vyapar plus (Loan Against Property) | 16.50% to 26% |
| Commercial LAP | 18.50% to 26% |
| Mahila LAP | 19.50% to 26% |
| Flexi LAP | 13% to 26% |
The final loan against property interest rate may depend on the age, credit score, monthly income, occupation profile, etc. of the loan applicants.
Fees and Charges of Manappuram Loan Against Property
Processing fees
| Particulars | Fees and Charges |
| Application fee | Rs 2,500 + taxes |
| Processing fee | 2.5% of the loan amount + taxes |
Foreclosure/part prepayment charges
| Particulars | Fees and Charges |
| Part prepayment charges |
|
| Foreclosure charges |
|
Other fees and charges
| Particulars | Fees and Charges |
| Stamp duty | At actuals + taxes |
| CERSAI registry | Rs 500 + taxes |
| Cheque/ECS swapping | Rs 750 + taxes |
| Security/PDC retrieval charges | Rs 500 + taxes |
| Copy of property documents | Rs 500 + taxes |
| Statement of account | Rs 500 + taxes |
| Documents list | Rs 1,000 + taxes |
| Collection picks up charges | Rs 500 + taxes |
| Recovery charges | At actuals + taxes |
| Conversion charges | 1% + taxes |
| Loan cancellation charges | Rs 3,000 |
| Foreclosure statement | Rs 500 + taxes |
| Penalty for delayed payments | Rs 1,200 + taxes |
| Cheque/ECS bounce charges | Rs 1,200 + taxes |
Check LAP Interest Rates For Various Lenders Click Here
Types of Manappuram Home Finance Loan Against Property
Vyapar Plus (Loan Against Property)
- Loan amount: Up to 50% of the property value
- Repayment tenure: Up to 12 years
Commercial Property LAP
- Loan amount: Up to 50% of the property’s market value
- Repayment tenure: Up to 12 years
Mahila LAP
- Loan amount: Up to 40% of the property’s market value
- Repayment tenure: 8 years
Flexi LAP
- Loan amount: Up to 80% of the property’s market value
- Repayment tenure: 12 years
Eligibility Criteria for Manappuram Loan Against Property
Manappuram Housing Finance Ltd offers loan against property only to Indian residents. Borrowers can avail this loan as individuals or in joint capacity. All owners/ proposed owners of the property are also required to be co-applicants.
Along with the above mentioned factors, the HFC may also consider various other factors like credit score, age, income profile, occupation profile, property value, etc of its applicants to check their loan against property eligibility.
Documents Required for Manappuram Home Finance Loan Against Property
Identity and Residence Proof
- Voter ID Card/ PAN Card / Valid Passport/ Valid Driving License (Only for Residential Proof)/ Aadhar Card
- Utility bill which is not more than 02 months old. (Electricity bill, telephone bill, post-paid mobile bill, gas connection bill)
- Latest Property/ Municipal Tax Receipt
- Updated Bank Account Passbook/ Post Office Passbook
- Copy of the Lease/ Leave & License Agreement duly executed and registered as per the state laws
Income proof
- Permanent Account Number (PAN Card)
- Current Account Statements of business entity and Savings Account Statements of the Individual for last 06 months
- Copies of Bill-Book/ Order Book/ Payment Receipts evidencing business transact
- Latest Form 26AS( if available)
Other documents
- Business Profile
- Details of any outstanding amount as per CIBIL report
- Certificate of any outstanding (in refinance/ balance transfer case
- List of documents submitted to lender(in refinance/ balance transfer cases)
- Cheque for application fee @ 0.5% of amount of loan sought favouring ‘Manappuram Home Finance Ltd’
Note: Manappuram Home Finance may also ask for additional loan against property documents based on customer profile.