HI Refinance Loan by Muthoot Fincorp
You have turned your dream of owning a home into a reality. You may require extra effort and funds to convert the interiors to your vision of perfection. Muthoot Fincorp can help with a HI refinance loan to further construct, alter or improve a living spaces or to meet other necessary expenses.
Benefits and Features of HI Refinance Loan
Home buying or construction is an expensive proposition. We understand that you may require funds after the purchase to meet necessary or emergency requirements. Muthoot Fincorp can help you refinance a portion of the funds, if your property was purchased or constructed from your own funds. However, the property purchase or construction should have been completed within the last six months.
Differential Loan Amounts
The loan amount you can apply for ranges from Rs. 3-25 lakhs while the maximum loan to value ratio is 80% ... read more of the home value. We are here to offer you a flexible loan product that gives you access to instant credit as per your requirement.
Efficient & Quick Processes
Our loan application processes have simple documentation and flexible repayment schedules with tenures ... read more from 3-20 years. We offer broad eligibility criteria and streamlined processes for efficient processing, approvals and disbursals of loans.
Tax Benefits on Your Loan
You can claim deduction of up to Rs. 2,00,000 against interest paid from your gross income on our home loan products ... read more and as specified under Section 24(b) of the Income Tax Act, 1961. Under Section 80 (CCE) and 80C, the principal deductible amount is up to Rs 1,50,000 under.
We have a very broad eligibility criterion. Meet the below mentioned requirements to get a loan that helps you tide over your financial restrictions.
- 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
- Property should have been purchased or constructed from own funds
- Property should have been purchased or constructed within the last six months from the date of application
Documents needed for HI Refinance Loan
There is no lengthy or cumbersome documentation process 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
We understand the financial limitations after funds are used to own a home, and we are here to help. Contact our customer care representatives at 1800 102 16161 for more details.
How to Apply for HI Refinance Loan from Muthoot Fincorp
We are committed to your convenience and have therefore created easy loan application and approval procedures. You can apply for a home loan in India in any one of the following ways:
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.
All the documents you share with us will be scrutinised and your eligibility criteria will be checked quickly to help expedite the approval and disbursement process. We are always ready to help our customers realize their home makeover dream.
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 HI Refinance 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 Refinance 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