You can easily buy a house and renovate or extend the property at a lower rate of interest, if you take the Muthoot Finance home loans. Because it provides you home finance loans at a starting interest rate of 12.50% per annum. To avail the Muthoot finance home loan you must meet the eligibility criteria as it determines your Muthoot finance home loan interest rate for the borrowed amount. Read this article to know about the interest rate benefits of Muthoot finance home loans.
Is it necessary to meet Muthoot Finance home loan eligibility criteria for low interest rates?
To get a home loan from any bank or financial institution you are required to meet the eligibility criteria the same is applicable for the Muthoot finance home loans. For the loan approval, it is necessary to meet the basic criteria like the minimum age, income, nationality, etc. Your minimum age should be 21 years and you must be an Indian citizen to apply for the Muthoot finance home loans. Your loan interest rates get affected by the applicant’s credit history and income. If you have a poor CIBIL Score then there are lesser chances of getting a low Muthoot Finance home loan interest rate, because a poor score shows that you are less eligible for the loan amount. That is why Muthoot Housing Finance Limited provides an eligibility calculator for your convenience.
What is the Muthoot Finance home loan eligibility calculator?
It is an online tool that generates the amount you are eligible for, it helps you in borrowing the right amount so that the Muthoot Finance home loan interest rate would be lower. You can use this online device by visiting the official website of Muthoot Housing Finance Limited. The user just needs to enter his monthly income, fixed spendings, desired loan tenure and interest rate inside the eligibility calculator to generate the eligible loan amount.
You can extend your loan eligibility and lower the Muthoot finance home loan interest rate by adding a co-applicant. To know its benefits you can use the eligibility calculator and enter the same details like the monthly income and spendings. So as you can see, the interest rate for Muthoot finance home loans are low and comes at a flexible rate of interest then it is the perfect deal for you then don’t waste your time and apply for it.
Finance your house with lower Muthoot Finance home loan interest rates
Submit the documents like ID proof, address proof, income proof to Muthoot Finance Housing Finance Limited. Because these documents are required during the loan procedure whether you directly apply for the loan or take the help of a financial marketplace. Also, a mandatory fee needs to be submitted before the home loan sanction that is 1.5% of your loan amount and non-refundable. If your Muthoot Finance home loan is sanctioned you will be notified by getting a confirmation letter on your address or whether you receive a message on your registered number. So hurry finance your house with lower Muthoot Finance home loan interest rate and pay the installments through electronic clearing system (ECS) and post-dated cheque (PDCs) methods.