Loan Amount:
Maximum of Rs 10 lakhs but will be decided based on repayment capacity and our internal policies.

Tenor:
max 15 years

Interest Rate:
MHFC's Prime Lending Rate ("PLR") is currently 12%. However, actual rate of interest on a loan will depend on individual circumstances, especially on the amount of borrower contribution and the loan tenor requested. Further, it should be noted that the loan rate is floating and will change when the PLR is revised from time to time, in line with market conditions.

Loan to Value:
Maximum of 80%, which means that the borrower will need to provide a margin of 20% min of the cost of the house.

Security:
Mortgage of the house being financed

Repayment:
Through customer's electronic standing instructions for all the equal monthly installments (“EMIs”).

Other Conditions:
We would expect the borrower to have a bank account, and also to take out life insurance (MHFC will help facilitate the bank account and the insurance).