Tag Archives: Micro Housing Finance EMI Calculator

Micro Housing Finance – Home Loan Eligibility, Interest Rate, EMI Calculator

Micro Housing Finance – Apply & Get Attractive Interest Rate on Home Loan from Micro Housing Finance. Check Home Loan Eligibility, Monthly EMI Calculator, Documents Required, Processing Fee.

Micro Housing Finance – Get Instant Home Loan Quotes Online

Professional Details
Loan Amount
Occupation
Yearly Income
City
Disclaimer: We do not provide Home Loans but help you to connect with banks to get best deals.
All loans are on sole discretion on the respective banks

MHFC was incorporated in 2008 under the Companies Act (1956) with the aim of providing home loans to the informal segment of the country which have low income in urban India such as housemaids, weavers, rickshaw pullers, drivers, security guards and micro-entrepreneurs etc.

The company have achieved there goal in many ways as it has managed to sanction loans of approximately ₹ 200 Crore to the urban poor section.

MHFCL is considered as the best financial company to provide loan because of the low interest rates & convenient loan process.

Feature, Benefit, Eligibility & Other Related Information

  • The applicant has to be a resident of India and should be of age 21 and above.
  • Maximum of ₹ 15 lakhs will be sanctioned for a tenure of 15 years.
  • Maximum 85% of the value of property will be sanctioned. 15% will be paid by the loan seeker.
  • Minimum documentations are required.
  • No pre – payment charges are applicable.
  • Loans are provided for the purchase of house in MHFC Approved projects only.
  • All the Indian Resident individual can apply from the informal sector.
  • Annual Percentage Rate (APR) range from 12.88% to 13.62%.
  • The interest rate for home is between 12% and 13% (floating and will change as per the PLR revisions) as of now.

Micro Housing Finance Home Loan EMI Calculator

Loan Amount
Interest Rate (Reducing) % Per Annum
Loan Tenure (in Months)
 
Monthly EMI
Total Amount with Interest
Flat Interest Rate PA
Flat Interest Rate PM
Total Interest Amount
Yearly Interest Amount

Processing fee

  • Processing fee is 2% on applied loan amount if paid by debit card/demand draft & 2.5% if paid by cheque (Additional ₹ 4,000 for customers in Maharashtra for registration of notification of charge.
  • Repayment can be done through customer’s electronic standing instructions for all the EMIs.
  • Security will be the mortgage of the house being financed.

Other Charges 

OTHER CHARGES
Pre payment charges NIL
Cheque bounce charges ₹ 250 per event (inclusive of service tax)
Statement charges NIL
Late payment charges 2% per month on the due amount
Document retrieval charges ₹ 500 per document or ₹ 1000 for all documents (inclusive of taxes)
Cheque handling charges ₹ 150 per transaction
Cash handling charges ₹ 300 per transaction

Documents Required

ID Proof – PAN card, Driving License, Adhaar Card, Voter ID {Any one}.

Address Proof – Bank Passbook, Driving License, Voter ID, Adhaar card {Any one}.

Property documents – Allotment letter, Agreement for sale, Receipt for payment mode.

Updated bank statement & passbook.

Cheque for processing fee in favour of MHFC/ATM Card.

HOW TO APPLY ?

Step 1 : You can simply click on the link to submit the form loansninsurances.com

Step 2 : Fill all the required professional & personal details and Get instant quote on your Eligibility, Documents required & Other important procedure.

Step 3 : Our representative will get in touch with you to help you further.