Constructing a house or purchasing a house is everyone’s dream. But, some of us are unable to achieve this dream due to financial constraints. Well, this is not the scene anymore. No matter how big your dream home is, Mahindra Home Loan is there to support you financially. It understands that purchasing or constructing a home is one of the most expensive purchase decisions one makes. That is why Mahindra Finance home loan interest rate is designed in such a way that it doesn’t feel much of a burden for the customer while paying his EMIs. Mahindra offers one of the best interest rates that are prevalent in India. It offers customizable attractive interest rates based on a couple of factors. You can demand for a lower interest rate possible, if you’ve a good credit score or if you’ve had a good relationship with Mahindra in the past.
What are the Features of Mahindra Home Loan Interest Rate?
Other than the Mahindra home loan interest rate, these are some of the features that will definitely convince you to take a home loan from Mahindra.
Skilled Assistance: There’s a team of skilled professionals set up by Mahindra to assist you with any queries in relation to Mahindra home loan. Whether it is something you want to know about the interest rate or how much loan amount you’ll get based on your salary, the assistance team answers everything.
Services across India & Internationally: The availability of Mahindra Finance home loan is across India and not just restricted to few posh cities.
Home Loan for Every Need: Where other banks and NBFCs are offering home loans only for constructing a new house or purchasing a new one, Mahindra is being innovative in its approach by launching various types of home loans for every need. They provide home loans for Home Renovation, Construction, Plot purchase, Purchase, Extension Loan against Property, Loans to Professionals, Repairs and more so. So, whatever may be your needs, there’s a home loan option for everything with the Mahindra home loan.
Transparent: There are some banks that may try to rip you off by not disclosing some of the charges in relation to the home loan. These charges can disrupt all your plans to build or purchase your new home. But, Mahindra Home Loan likes to keep all the fees and charges on the table, whether it’s a matter of processing fee or pre-payment charges. Once these charges are in front of you, the call is yours to take.
Name two factors that majorly Affect Mahindra Home Loan Interest Rate?
Credit Score: Your credit score plays an important role in determining your Mahindra Home Loan interest rate. A good credit score translates into bagging a lower interest rate from Mahindra. A bad credit score is surely a price that you never want to pay. By bad, I mean, a score less than 700. You just need to service your past debts properly (by paying your credit card dues on time and EMI payments for previous loans).
Net Monthly Income: Mahindra has a close look at your bank statements and salary slips to see whether you have a regular flow of the minimum net monthly income required. If you have the desired net monthly income constantly flowing into your account, you can ask Mahindra to give you the lowest interest rate.