Tag Archives: Mahindra Rural Housing Finance EMI Calculator

Mahindra Rural Housing Finance Ltd – Home Loan Eligibility, Interest Rate, EMI Calculator

Mahindra Rural Housing Finance – Apply & Get Lowest Interest Rate on Home Loan Eligibility. Check MRHFL Monthly EMI Calculator, Documents Required & Processing Fee. 

Mahindra Housing Rural Housing Finance – Get Quick Home Loan Quotes Online

Professional Details
Loan Amount
Yearly Income
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

Mahindra Rural Finance is a subsidiary of the leading mahindra & mahindra financial services limited which aims at providing home loan specifically in rural areas.

MRHFL operates through 9 states namely : Maharashtra, Gujarat, Rajasthan, Madhya Pradesh, Tamil Nadu, Andhra Pradesh, Karnataka, Kerala, Bihar.

If you belong to a rural area & unable to avail a loan from bank or any other financial institution due to lack of documents & income proof, then, MRHFL is the best option that you can choose.

The company started operating in 2009 which provides Loan for :-

  • Construction of dwelling units
  • Purchase of a new property or under construction house / flat
  • Improvement or Renovation of existing house
  • Extension of existing dwelling units
  • Joint liability group loans.

Mahindra Rural Housing Finance Interest Rate 

Housing Loans Floating @ 11.50% p.a. onwards*
Fixed @ 18% p.a onwards*
Non – Housing Loans 17% p.a onwards*
*Terms & conditions applied


Applicants should come under the eligible norms laid by the company. Loan will be provided only after considering various factors such as income, age, employment stability, savings, assets & liabilities & family background.

Following is the list of segments who can apply :-

  • Agriculturist
  • Self employed individual
  • Business owner
  • Asset hiring class
  • Salaried Individuals

Mahindra Rural 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

Features & Benefits of MRHFL Home Loan

  • The maximum loan tenure is 20 years which can be repaid in monthly, quarterly or half yearly equated installments by way of EMI/ EQI/ EHI comprising of principal and interest.
  • Loan amount Up to 75% of cost of construction excluding cost of land will be sanctioned.
  • Pre installment interest would be payable during the period after you take your first disbursement and before commencement of your Equated Installment.
  • Pre EMI interest would be charged at the same rate at which EMI is calculated and would be payable every month on the amount of loan disbursed.
  • Repayment of the loan can be made by cash / cheque/demand draft at any of MRHFLs offices.
  • MRHFL also accepts post dated cheques for repayment. Repayment can also be made at Collection Centers approved by MRHFL.
  • Life insurance of the applicant and house facility can be availed but before loan disbursement.

Documents Required

  • Duly filled application form.
  • Latest passport sized photograph.
  • Age proof – Passport, PAN card, Driving License, Birth certificate, Voter ID / Election card, School leaving certificate, Life insurance policy, Employee ID or Aadhaar card (Any one).
  • KYC documents – Aadhaar card, Driving License, PAN card.
  • Address proof – Passport, Driving License, Voter ID, Ration card, Electricity bill, Telephone bill or Rent agreement.
  • Valid Income proof.
  • 13 years record of ownership of property & an original agreement is required in case of property documents.
  • Field investigation required

Fee & other Charges 

Processing fee 1.75% – 3.5% of sanction amount
Document fee ₹ 500/-
Delayed payment charges 24% p.a on the instalment due
Cheque bounce charges ₹ 500/-
Document retrieval charges ₹ 500/-
Cheque cancellation & re – issue charges ₹ 500/-
DD/ Pay order issuance charges ₹ 150/-
Reissuance of amortization schedule ₹ 100/-
Reissuance of statement of account ₹ 250/-
Final pre – closure statement charges ₹ 250/-
Duplicate No objection certificate ₹ 100/-

Latest News on Mahindra Rural HF

1) Mahindra Rural Housing Finance (MRHFL) is planning to diversify into higher-ticket affordable segment which is ₹ 5 lakhs to ₹ 10 lakhs. . The diversification in higher-ticket affordable segment is expected to reduce operating cost as well as reduce negligence. MRHFL is already in ‘Work on Progress’ for the same.