Loan Against Property Interest Rate

Muthoot Fincorp Interest Rate on Loan Against Property 

Muthoot Fincorp understands that you only mortgage your precious property to fuel an important need. You can choose between fixed and variable loan against property interest rates as per your comfort. These plans are provided by Muthoot Housing Finance Limited - A sister concern of Muthoot Fincorp Limited. 

To know more about our interest rates, call us at 1800 102 1616.

How is Interest Calculated on Loan Against Property?

Muthoot Fincorp’s interest rates are calculated based on the eligibility criteria. 

Please visit our loan against property eligibility criteria page to know more. If you meet all our eligibility conditions, you can avail of a loan at a low-interest rate. You can use our loan against property eligibility calculator to view your eligibility amount at a flat interest rate. If you choose an amount higher than your eligibility, the interest rate will rise accordingly.

You can also view your EMIs using loan against property EMI calculator widely available on internet, which gives you the details of the entire cost of the loan you take from Muthoot Fincorp Ltd.

For more details, contact us at 1800 102 1616.

Factors that Impact Interest Rate for Loan Against Property

The following factors are considered by Muthoot Fincorp when calculating your loan against property interest rate. 

1. Your income: Your income indicates your repayment capacity. We offer loans to people of all income groups. However, your income will impact the interest rate. 
2. Loan tenure: A shorter tenure leads to higher EMIs but a lower interest rate. A longer tenure gathers a higher interest rate and increases the total cost of borrowing.
3. Loan amount: The loan amount you opt for also has an impact on the interest rate payable.
4. Credit Score: Your credit score is an indicator of your creditworthiness. It shows repayment and credit history. Please get in touch with us if you do not have a credit score or a high credit score.

How to Get Better Interest Rates on Loan Against Property

Get the best loan against property interest rates by taking the following steps:

1. Meet eligibility criteria: Your eligibility is the main factor determining the interest rate on your loan against property. 
2. Improve Your Repayment Capacity: If you have multiple active debts, it impacts your loan approval chances. Consolidating your loan or paying off existing debts increases your chances of getting a loan approved with a lower interest rate.
3. Choose a Shorter Tenure: A shorter tenure will increase the amount you pay as monthly instalment, but it will reduce the interest rate. This will lead to a lower cost of borrowing as a total. You can check your EMIs before applying for a loan against property through our loan against property EMI calculator.

Please get in touch with a customer care executive at 1800 102 1616 or visit your nearest Muthoot FinCorp branch to know the charges applicable to your loan.