Welcome to MUNAFAWALA, Best Loan Provider Company.

About Mortgage Loan

Avail mortgage loan in Jaipur, a mortgage loan is one in which you secure funds by pledging your property. The interest rates on mortgage loans range from 8.15% to 11.80% p.a. Our mortgage loan agency in Jaipur will provide you the loan at the very low interest rate. Usually, the amount of funding you can avail will be up to 60% of the registered value of the property. Some banks also offer mortgage loans up to Rs.10 crore. The repayment tenure for mortgage loans can be up to 15 years.

A mortgage loan is a type of secured loan that you can avail by keeping an immovable asset as mortgage with the lender. The asset can be a residential/commercial property or other immovable properties like heavy machinery.

This type of loan is secured on the borrower’s property as per process which is called mortgage origination. Such loans are long-term advances with repayment tenors ranging from 15 – 20 years and interest rates much lower compared to unsecured advances. You can utilise the loan amount to meet diverse funding needs involving big-ticket expenditures.


Get mortgage for whatever you need now

Achieve all your goals and aspirations; with the right kind of help, exactly when you need it.

High-value loans made affordable

Munafawala facilitates you to access a higher loan amount at affordable Mortgage Loan interest rates. Salaried personnel can avail up to Rs.1 crore, while self-employed individuals can get a loan of up to Rs.3.5 crore.

Hassle-free loan disbursal

With minimal documentation and quick processing, the application for your loan is completed in just 4 days, making this the fastest Loan Against Property. You can also avail doorstep service for submitting your mortgage loan documents.

Flexible Tenor

Salaried individuals can avail a suitable tenor ranging from 2 to 20 years to repay the loan conveniently. Self-employed individuals can select a tenor of up to 18 years to repay the loan. You can part-prepay or prepay your loan anytime at minimal charges.

Easy balance transfer facility

You can easily transfer your existing mortgage loan to Munafawala and get a high-value top-up loan.


Get mortgage for whatever you need now

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Features & Benefits of Mortgage Loan

A mortgage loan comes with the following attractive features and benefits:

  • It is a cost effective way of borrowing. Normally, you can take a mortgage loan for a longer duration and pay off your repayment by using smaller monthly EMIs.
  • Mortgage loans charge lower rates of interest on your borrowings than any other loans.
  • Mortgage loan is a secured loan. It is secured against your property. The bank or lender has the right to repossess your property if you can’t repay your loan.
  • A mortgage loan helps you buy your own house. You can afford to buy a home with the help of this loan and be the sole owner of your property once repayment is over.
  • You can get loans against under construction property, fully constructed property, freehold residential and commercial properties for:
  • Mortgage loans are offered at attractive interest rates.
  • Enjoy an easy and hassle free documentation process.
  • Self –employed individuals get customized loan options.

  • Get loan for a longer tenure.
  • Repay your loan with a simple repayment process through monthly instalments. You can pay it off by paying smaller monthly EMIs.
  • You can get a mortgage loan anywhere in India with integrated branch network provided by banks.
  • You can choose from a number of interest rates to pay off your loan. They include – floating rates, fixed interest rates, interest-only mortgage and Payment option ARMs.
  • Get access to a higher amount of funds.
  • Mortgage loan can be sectioned even before your select your property.
  • You can apply for it both online and offline and enjoy doorstep services.
  • Both residential and commercial properties are accepted as collateral for mortgage loan.
  • Funds received from a mortgage loans can be used for business as well as personal needs.

Mortgage Loan - Eligibility

To get approved for a mortgage loan, you need to fulfil the eligibility criteria set by banks and financial institutions. While the criteria may vary from bank to bank, listed below are general factors that determine your eligibility:

Age

  • Gross annual/monthly income
  • Minimum age requirement of 21 years

Resident Type

  • Valuation of your property
  • Income proof documentation

Credit Rating

  • Existing liabilities
  • Number of dependants

Whether you’re salaried or self-employed, you’re eligible for a mortgage loan.

Mortgage Loan Interest Rates Offered by Various Banks

Lender Interest Rate (p.a.) Loan Amount Loan Tenure
HDFC Bank 8.75% Onwards Up to 60% of the mortgaged property’s market value Up to 15 years
ICICI Bank 9.40% Onwards Up to Rs.5 crore Up to 15 years
State Bank of India (SBI) 1.60% above 1-year MCLR rate to 2.50% above 1-year MCLR rate Up to Rs.7.5 crore Up to 15 years
Axis Bank 10.50% Onwards Up to Rs.5 crore Up to 20 years
Citibank 8.15% Onwards Up to Rs.5 crore Up to 15 years
HSBC Bank 8.80% Onwards Up to Rs.10 crore Up to 15 years
PNB Housing Finance 9.80% Onwards Up to 60% of the property’s market value Up to 15 years
IDFC Bank Up to 11.80% Up to Rs.5 crore Up to 15 years
Karur Vysya Bank 10.00% Onwards Up to Rs.3 crore Up to 100 months

Documentation Required

The documentation required for the loan application varies based on your employment status i.e., self-employed or salaried.

For Self-employed Applicant/Co-applicant For Salaried Applicant/Co-applicant
Duly filled loan application form Duly filled loan application form
Passport-size photograph Passport-size photographs
Identity proof (PAN card, Aaadhar card, passport, driving licence, voter ID card, etc.) Identity proof (PAN card, Aaadhar card, passport, driving licence, voter ID card, etc.)
Business proof Address proof (electricity bill, ration card, Aaadhar card, driving licence, rental agreement)
Financial statements for the last 3 years Latest salary slips
Latest income tax return certificates (last 3 years) Form 16 issued by employer
Profit and loss statement (P&L) Latest bank statements
Latest bank statements Processing fee cheque
Cheque for processing fee

Frequently Ask Questions

If you have a question that deals with clients, customers or the public in general, there is bound to be a need for the FAQ page.

Yes. The sanctioned loan amount can be used for a wide range of financial needs, both personal and business. However, it’s important to understand what expenses can be catered to with this loan. Read the fine print and if you have any queries, get in touch with the lender for additional information. For instance, some banks don’t offer a mortgage loan for individuals who are involved in property development.

The type of borrower who can apply for this loan varies from bank to bank. For instance, most banks offer this loan for both salaried and self-employed individuals. Resident Indians and NRIs are also eligible for a mortgage loan. However, there may be additional criteria you’ll have to meet to be eligible for a mortgage loan.

The margin offered against your property differs from bank to bank, and also the type of property you’re submitting as collateral. The average margin offered by banks and financial institutions is between 40% and 60%. Some banks also offer a 70% margin.

Most banks require you to submit either residential (flat, house) or commercial property (building, building with land) as collateral. In some cases, you can also pledge your plot of land as security. However, this has to be non-agricultural land. You cannot use your industrial or agricultural property as security for a LAP.

You can either make your payments with post-dated cheques or opt for a standing instruction like NACH. This ensures you don’t miss your due date and pay your outstanding balance on time. If you miss your payment, you will be charged a penalty fee.

Yes, you can foreclose your mortgage loan. However, you will have to clear the entire loan amount before requesting for foreclosure. Do note that banks charge a certain amount as pre-closure fees. The amount varies from lender to lender, so ensure you’re aware of all the charges before proceeding with foreclosure of your mortgage loan.

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