First Purchase From Builder Loan by Muthoot Fincorp
It is an exciting moment when you look at the drawings of how a future home will look. The architectural design will show you the different rooms of the home. Use the First Purchase Loan From Builder to construct a clear picture in your head of how you can live-in and decorate your space.
Benefits and Features of First Purchase from Builder Loan from Muthoot Fincorp
Take a home loan towards purchasing a flat from a builder or purchase a home from a Housing Board or Development Authority. You may be purchasing a fresh property for the first time to become a homeowner or the second time to upgrade your living standards. At Muthoot Fincorp, we have designed a home loan product that helps you make your dream of owning a new home an instant reality.
Efficient Processes & Quick Approvals
We have designed very efficient loan application and approval processes to help you get the loan quickly. ... read more Our flexible repayment schedules with tenures of up to 20 years make it easy to repay the principal amount and interest. Use our home loan calculator to choose an EMI schedule suiting your needs.
Differential Loan Amounts
The Muthoot Fincorp loan offers loan amounts ranging from Rs 3-25 lakhs. The maximum loan to value ratio ... read more for which you can get a loan is 80% of the value of the flat or house you are purchasing. Check with your nearest Muthoot branch for more details.
Tax Benefits on Your Loan
You can claim deduction of up to Rs. 2,00,000 from your gross income if the amount is for the interest on home loan ... read more , under Section 24(b) of the Income Tax Act, 1961. The principal deductible amount is up to Rs 1,50,000 under Section 80 (CCE) and 80C. A home loan helps you save on tax and own the dream home!
Our broad eligibility criteria make loans to purchase a builder flat or house accessible. Meet the below mentioned requirements to get a loan and become the proud owner of a new home.
- Minimum age at the time of application should be 21 years
- Maximum age at the time of loan maturity should be 65 years
- The applicant should either be salaried or self-employed
- The applicant must own a bank account
- There should be a Muthoot Blue branch in the borrower’s city
- The co-owner of the property should be the co-applicant for the finance
Documents needed for First Purchase From Builder Loan
There is no lengthy documentation process when you apply for a home loan with Muthoot Fincorp. Put together the documents mentioned below for quicker loan approval and disbursement.
Muthoot Fincorp is bound by and follows the KYC forms as per the regulator’s guidelines.
Address Proof (Any one of the document)
- Passport / Ration card / Voter ID / Driving License / Registered Rental Agreement / Electricity or Landline bill issued within the previous 3 months
Identity Proof (Any one of the document)
- Driving License/Voters ID Card, Passport/Ration Card/Driving License / Photo Credit Card / PAN Card / Employee ID card for Government servants
Contract with the builder
- of the Housing Board for sale of the property
- Bank statement stating transactions for the previous three months
For Salaried Persons
- three months’ salary slips with ITR or Form 16 for salaried applicants seeking housing loan in India
Whether you are looking for a loan to purchase a flat from a builder or a house from a Housing Board, you can contact our customer care representatives at 1800 102 16161 for more details.
How to Apply for First Purchase From Builder Loan from Muthoot Fincorp
With a commitment towards your convenience, we are happy to offer you easy loan application and approval procedures. Choose any one of the following ways to apply for a home loan:
You can call our toll-free number 1800 102 1616 and talk to our customer care executive for details to get started
Visit the nearest Muthoot Fincorp Branch
You can visit the nearest Muthoot Fincorp branch and our customer care executives will help you through the process.
Once your share all documents with us, they are scrutinised. We also quickly check eligibility criteria to expedite the approval and disbursement process. We are here to help you own the home you want to live in.
First-hand account of customer experiences
BLUE SOCH STORIES
I am a silk merchant from Ramanagar and I was looking out for a home loan. One day I came across a person from Muthoot Housing Finance subsidiaries of Muthoot Fincorp Ltd. doing a marketing activity near my Business Premises. After that it struck my mind that I may require a home loan as my savings might not be sufficient to complete my house construction. So, I approached Muthoot for a home Loan. One thing what I liked about Muthoot ... Read More
Same is the case with another Customer, Shantaraju. He also was working under someone and wanted to set up his own Silk Twisting machinery. Muthoot Housing Finance subsidiaries of Muthoot Fincorp Ltd. has helped Shantaraju set up his own business by providing home loan. Below is the picture of Shantaraju and his wife working on their Silk Twisting Machinery. Shantaraju , has set up his own business, employs 2 people, and earns a lot. Not only this, he pays his monthly ... Read More
This is Sheshadri, who was working in a power loom. Although he had his dreams of setting up his own power loom, he didn’t have the sufficient capital to start up his own power loom. He approached Muthoot Fincorp Ltd. for a gold loan for this purpose and he was informed there about the home loan available from Muthoot Housing Finance subsidiaries of Muthoot Fincorp Ltd. He also got to know about the process and procedures of the housing finance ... Read More
I am Kumar from ramanagar. I own a floor mill and I grow mulberry plants and I harvest cocoons. Everyone has their own dream of building a house. Even I had one to construct a house in my plot I own in ramanagar. I had a shortage of funds and even some relatives refused me to offer help. That time I went to Muthoot Fincorp Ltd. in search of a gold loan, and they told that Muthoot Fincorp Ltd. is ... Read More
I run a chicken shop in Anekal. I always thought of expanding my business and wanted to open my own poultry farm. For this to come into existence, I needed some funds. My savings also was not sufficient. And one of my friend referred me to Muthoot Housing Finance Company Ltd. subsidiaries of Muthoot Fincorp Ltd. and asked me to go and enquire there for a housing loan. Thankfully, Muthoot Housing Finance Company Ltd. came to support me by offering ... Read More
Why Choose Muthoot Blue for A First Purchase From Builder Loan?
Muthoot Blue (Muthoot Pappachan Group) has a reputation that has been shaped over decades with high-quality practices, total customer satisfaction, and steady growth. Today, Muthoot Fincorp, our flagship company, is one of the largest NBFCs in India and we continue to work with the aim of providing timely credit to the common man with Blue Soch. Hence, our first purchase from Builder loan services are designed to help you get the loan amount easily and with minimum hassles.
- We have over 4200 branches across India. Visit your nearest Muthoot Blue branch to get a loan quickly and without any hassle.
- Nearly 1,00,000 customers walk into our branches daily and are assured of trustworthy and simple services.
- Our customer-centric approach and innovation over the past 133+ years without compromising on the God-given values of trust, truth, transparency and tradition is what helps us in empowering the human ambitions.
Over 3600 branches across India
133+ years of legacy
18,000 Muthootians serving millions of customers
Walk in of over 1,00,000 customers a day