What is the interest rate of Mahindra Home Finance?

Mahindra Home Finance offers home loans among many other types of loans. They offer multiple home loan schemes for rural and urban home loan applicants. Before answering

What is the interest rate of Mahindra Home Finance, let me tell you that the interest rates are based on the repo rate and its fluctuations. Hence, they are subject to change based on the financial market conditions. I will share what is the current rate of interest offered by Mahindra Home Finance.

What is Mahindra Home Finance rate of interest?

Mahindra Home Finance provides home loans @ 13.75% p.a. onwards for periods of up to 20 years (however it is subject to your income, age and loan requirements). The HFC provides loans of up to 75% of construction costs. This HFC focuses on providing finance for affordable and basic housing units. It aims to provide services to people and groups in society who aren't well-served by banks and other financial institutions.

What are Mahindra Home Finance eligibility criteria?

Mahindra Finance offers home loans based on your co-income, age, employment stability, consistency and reliability of income, savings, family background, assets, and liabilities. These are the other factors likely to have an impact on the loan repayment, to determine your eligibility for the loan. Overall, the eligibility criteria mentioned below are:

• A farmer, a self-employed business owner, a person who owns assets, and a salaried person are all eligible to apply for a mortgage.

• A home loan can have a maximum term of 20 years for all applicants.

• Loans up to 75% of building costs, excluding land costs, are available.

What are the advantages of Mahindra Finance home loan?

• Flexible terms of up to 20 years for repayment.

• Both fixed & floating rates of interest are available subject to conditions.

• Loans for building, renovating, improving, and purchasing

• Pre-instalment interest would be due before the start of your equated instalment and at the time of your first disbursement.

• Pre -EMI interest is charged at the same rate as which determined and will be charged every month on the amount of loan given.

• You can repay the loan with cash, a cheque, or a demand draft at any of MRHFL's offices.

• Door-to-door servicing to provide optimum convenience

You are now aware of what is the interest rate of Mahindra Home Finance.