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Manipal Housing Finance Syndicate Limited

Build your dream home with our wide and flexible range of loans

Unique features of MHFSL products

  • Comprehensive Housing Loan Scheme with wide range of products
  • Loans for both salaried individuals and self-employed
  • Long loan tenure to facilitate easy repayment
  • Speedy processing, maximum possible loan amount
  • Personalised service in a customer-friendly environment, coupled with flexibility
  • Personalised post-disbursement service
  • Top-up loan and additional loan to existing customers

Purpose

MHFSL considers sanction of loans to NRIs on attractive terms and conditions for the purpose of

  • Purchase or Construction of House/Flat
  • Home Improvement
  • Home Extension
  • Purchase of Site (Land Loan)

Maximum Loan

  • Home Loan: Upto 90% of the cost of the house (including cost of land) Flat/Apartment
  • Home Improvement Loan: 100% of the cost, subject to maximum of 90% of the market value of the property.
  • Home Extension Loan: 100% of the cost, subject to maximum of 90% of the market value of the property.
  • Site Loan (Land Loan): Upto 90% of the purchase cost

Maximum Term

  • Salaried Individuals : 15 Years or up to the age of retirement, whichever is earlier
  • Self-employed: 15 Years or up to the attainment of 65 years of age, whichever is earlier

Rate of Interest

Rate of Interest will be on `floating basis’, linked to the PLR of the company and the rate will change in accordance with the change in the PLR. Please contact nearest branch for the details regarding rate of interest prevailing at present.

Fees

Please contact the nearest branch for details of the processing fee and administrative fee.

Pre-Payment Charges

There will be no pre-closure charges in respect of housing loans sanctioned to individual customers. However, other housing loan to non individual may attract prepayment charges.

Documents required

  1. Application form duly completed in all respects with photograph affixed on the space provided for the purpose
  2. Employment/Latest Service Contract
  3. Copy of Passport/Visa and latest work permit
  4. Power of Attorney
  5. Salary Certificate, latest CTC letter and pay slip for the last three months.
  6. Copy of Bank Statement of the account where salary is credited in the foreign country and copy of the statement of the Indian Bank Account to which amount is remitted from abroad for a period of six months.
  7. Loan track record for all loans that are being serviced as on the date of application.
  8. One local guarantor

Security

There will be no pre-closure charges in respect of housing loans sanctioned to individual customers. However, other housing loan to non individual may attract prepayment charges.

Repayment

  1. Pre-EMI: Pre-EMI interest is to be paid till the loan is fully disbursed
  2. EMI: EMI has to be paid after full disbursement of the loan

Mode of re-payment

  1. ECS
  2. PDCs (Post Dated Cheques) from NRE Bank Account
  3. Standing Instruction
  4. Salary deduction