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HI Refinance Loan

HI Refinance Loan

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.

Eligibility Criteria

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

For Self-employed

  • 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:

  • Call

    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.

Blue Soch Stories

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.

You can trust Muthoot Blue because:

  • 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 +132 years without compromising on the God-given values of trust, truth, transparency and tradition is what helps us in empowering the human ambitions.

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