Manappuram Asset Finance

Introduction

Manappuram Asset Finance Limited offers a flexible and convenient Loan Against Property (LAP) solution to help you meet your financial needs. Whether you require funds for business expansion, home renovation, education, medical emergencies, or any other personal needs, our LAP product is designed to provide you with the financial support you need by leveraging the value of your property.

Key Features and Benefits

High Loan Amount

Get a substantial loan amount based on the market value of your property.
Ideal for large financial requirements such as business investments or other personal expenses.

Attractive Interest Rates

Benefit from attractive and competitive interest rates.
Transparent and affordable interest rate structure to minimize your financial burden.

Flexible Repayment Options

Choose from a variety of repayment options tailored to your financial position.
Enjoy longer tenure options for ease of repayment, reducing your EMI burden.

Quick and Hassle-Free Processing

Streamlined and efficient loan approval process to ensure quick disbursal.
Minimal documentation requirements to make the process smooth and hassle-free.

Multiple Property Types Accepted

Loans available against residential and commercial properties.
Flexibility in choosing the type of property you want to leverage.

Why Choose Manappuram?

Trust and Reliability

Manappuram Asset Finance Limited is a trusted name in the financial industry with years of experience.
Known for our customer-centric approach and commitment to ethical business practices.

Expert Guidance

Our team of financial experts are here to guide you through the loan application process.
Personalized assistance to help you make informed financial decisions.

Transparent Processes

No hidden charges or ambiguous terms.
Complete transparency in terms and conditions to ensure you are fully informed.

Eligibility Criteria

Age: Applicants must be between 21 and 60 years of age.
Employment: Both salaried and self-employed individuals are eligible.
Property Ownership: The property should be owned by the applicant or their immediate family.

Required Documents

Identity Proof: Aadhaar Card, Passport, Voters ID, Driving License or NREGA Card
Address Proof: Utility Bills, Passport, Ration Card etc
Income Proof: Salary Slips, Income Tax Returns, Bank Statement of last 6 months or Business Financial Statements, GST Returns etc.
Property Documents: Title Deed, Encumbrance Certificate, and Property Tax Receipts.

How to Apply

Visit Our Branch: Find your nearest Manappuram Asset Finance Limited branch.
Online Application: Apply online through our user-friendly website.
Customer Support: Contact our customer support for assistance with your application.

Charges

Interest Rate:
- 17% to 23.9% per annum
Penal Charge:
- 18% per annum (inclusive of GST)
Processing Fee:
- Loan amount up to Rs. 5.00 lakh: 2.25%
- Loan amount Rs. 5.00 lakh to Rs. 20.00 lakh: 2%
- Loan amount Rs. 20.00 lakh & above: 1.5%
Foreclosure Charges:
- Closure within 6 months from the date of disbursement: 6 months' interest + GST
- Loan settled between 6 months to 1 year: 4% of principal outstanding + GST
- Other premature settlement cases: 3% of principal outstanding + GST

Frequently Asked Question

General Information Eligibility and Collateral Loan Amount and Tenure Documentation and Application Process Interest Rates and Charges Repayment and Prepayment

A Loan Against Property (LAP) is a secured loan where you can pledge your residential or commercial property as collateral to avail a loan. The loan amount can be used for various purposes such as business expansion, education, medical expenses, or any other personal needs.

Yes, the loan amount availed through a Loan Against Property can be used for various purposes, including business expansion, working capital, purchasing equipment, or any other business-related expenses.

Individuals, both salaried and self-employed, are eligible for a Loan Against Property. The eligibility criteria include:

Age: 21 to 60 years
Stable source of income
Clear title of the property
Good credit history

Manappuram Asset Finance Limited accepts both residential and commercial properties as collateral. The property should be free of any encumbrances and should have a clear title.

The loan amount is determined based on the market value of the property, the applicant's income, and repayment capacity. Typically, up to 60-70% of the property's market value can be availed as a loan.

The tenure for a Loan Against Property at Manappuram Asset Finance Limited can range from 5 to 15 years, depending on the loan amount and the applicant’s repayment capacity.

The following documents are generally required:

Identity proof (Aadhaar card, Passport, etc.)
Address proof (utility bills, rental agreement, etc.)
Income proof (salary slips, bank statements, income tax returns, etc.)
Property documents (title deed, property tax receipts, etc.)
Bank statement of last six months

You can apply for a Loan Against Property by visiting the nearest Manappuram Asset Finance Limited branch or through the official website. The application process involves submitting the required documents and undergoing a property evaluation and credit assessment.

The interest rates for a Loan Against Property at Manappuram Asset Finance Limited are attractive and vary based on the applicant’s profile, loan amount, and tenure. It is advisable to check the current rates or contact the nearest branch for detailed information.

The processing fees and other charges for a Loan Against Property vary and are detailed in the loan agreement. Typically, these may include processing fees, valuation charges, legal fees, and administrative charges.

Yes, Manappuram Asset Finance Limited allows prepayment of the loan. However, prepayment charges may apply as per the terms and conditions of the loan agreement. It is recommended to review the prepayment policy before proceeding.

In case of default on loan repayment, Manappuram Asset Finance Limited may take possession of the collateral property and sell it to recover the outstanding loan amount. It is crucial to adhere to the repayment schedule to avoid such situations.

LOAN AGAINST PROPERTY

Loan Against Property with Manappuram Asset Finance Limited

Calculate and confirm your loans

EMI Calculator

Introduction

Key Features and Benefits

High Loan Amount

Attractive Interest Rates

Flexible Repayment Options

Quick and Hassle-Free Processing

Multiple Property Types Accepted

Why Choose Manappuram?

Trust and Reliability

Expert Guidance

Transparent Processes

Eligibility Criteria

Required Documents

How to Apply

Charges

Frequently Asked Question

Contact Us

LOAN AGAINST PROPERTY

Loan Against Property with Manappuram Asset Finance Limited

Calculate and confirm your loans

EMI Calculator

Introduction

Key Features and Benefits

High Loan Amount

Attractive Interest Rates

Flexible Repayment Options

Quick and Hassle-Free Processing

Multiple Property Types Accepted

Why Choose Manappuram?

Trust and Reliability

Expert Guidance

Transparent Processes

Eligibility Criteria

Required Documents

How to Apply

Charges

Frequently Asked Question

What is a Loan Against Property (LAP)?

Can I use a Loan Against Property for business purposes?

Who is eligible for a Loan Against Property at Manappuram Asset Finance Limited?

What types of properties are accepted as collateral for a Loan Against Property?

How is the loan amount determined?

What is the tenure for a Loan Against Property?

What documents are required to apply for a Loan Against Property?

How do I apply for a Loan Against Property?

What are the interest rates for a Loan Against Property?

What are the processing fees and other charges?

Can I prepay the loan before the tenure ends?

What happens if I default on the loan repayment?

Contact Us