Net Banking
Net Banking
At Mahanagar Bank, we understand and value the need to have your own home. We also understand the varied needs, desires and wishes for a place which you want to call your home.
We also recognize the efforts and anxieties related with the entire process of building the home. Hence we have created the most pleasant and relaxed process, so that you can focus on building the home.
Loan Limit: Upto Rs. 30 Lacs.
Maximum Loan Term: 20 years.
Time of Disbursement:
Easy and immediate processing of the loan
Repayment Period:
Repayment period for Home Loan will be 20 years. In case of takeover, unexpired period or 20 yrs; whichever is less.
Prepayment Charges:No Charges
Individuals (singly/Jointly)
Max. Limit Rs.30.00 lacs
Mortgage of Residential premises to be purchased
10% of Agreement value for Loans up to Rs.30 Lacs
20% of Agreement value for Loans above Rs.30 Lacs
Max 240 months
Individuals (singly/Jointly)
Should be an income Tax Assessee of age 21 years and above.
Minimum Salary: ₹10,000 p.m.
CIBIL Score: 650 or Higher
Individuals employed/engaged in business/Professionals having a fair repaying capacity to justify servicing of monthly installments.
Income Tax Returns for the last three years along with computation of income.
Repayment in the existing loan accounts should be regular.
Total percentage deduction to gross incomes (including EMIs of proposed loan) not to exceed 60% in case of salaried & 67% in case of business persons.
Professionals (i.e., doctors, engineers, dentists, architects, chartered accountants, cost accountants, company secretary, and management consultants only)
Age limit: 21 years to 65 years
Self-employed individuals eligible for home loan
Any individual filing income tax returns can apply
Minimum business income: ₹2 lac p.a.
Age limit: 21 years to 65 years
Partnership Firm/ LLP/ Indian Company
Should have been existing for a minimum of three years
Should have a minimum net income of 1,80,000/- per annum
Application form & latest photographs.
Proofs of Applicant and Guarantors
Latest Photograph,
Photo Identity Proof,
Residence proof of the
Salaries Person
Salary slips for last 3 months
Bank statement for last 6 months
ITR for 3 years
Businesses
last 2 years profit & loss,
ITR copies of last 3 years,
Balance sheet and bank statement of business account for last 6 months.
Legal Documents required for creating mortgage.
Property related documents
Copies of the relevant documents of the property to be purchased / constructed.
Latest Valuation report from bank’s approved valuer.