Mahindra Finance Home Loan
Mahindra Finance Home Loan
Proud to be the largest home finance company serving rural India, Mahindra Rural Housing Finance Ltd. (MRHFL) has helped build over 12 lakh homes. Unlike traditional home loan procedures that require excessive documentation, MRHFL offers quick processing and affordable home loans starting at an interest rate of 8.50% per annum. The processing fee ranges between 1% and 3.5% of the loan amount, subject to a minimum of Rs. 1,000, with repayment tenures of up to 20 years. Salaried and self-employed borrowers can apply to purchase or construct a new home, renovate or extend an existing home, or transfer an existing home loan to MRHFL.
Mahindra Finance Home Loan
Built for Rural and Semi-Urban India
MRHFL is the largest home financier serving rural India, and we help you make the case where other lenders hesitate.
Works for Cash-Salaried and Agriculturist Income
MRHFL prices for income types other lenders turn away, and we help you document yours properly.
Minimum Documentation
MRHFL keeps paperwork light, and we make sure what you do submit is right the first time.
One Relationship Manager, Start to Finish
A dedicated BASIC expert handles your file end to end, not a rotating call centre.
Mahindra Finance Home Loan EMI Calculator
Your Monthly EMI
₹ 77,530
Total Principal
₹ 1,00,00,000
Total Interest
₹ 86,07,174
Total Payable
₹ 1,86,07,174
Mahindra Finance Home Loan Key Highlights
Get the lowest interest rates with Mahindra Finance
Loan Amount: Up to 75% of the construction cost (excluding the cost of land)
Rate of Interest: Starts at 8.50% per annum
Processing Fee: 1% to 3.5% of the loan amount, subject to a minimum of Rs. 1,000
Maximum Tenure for Repayment: 20 years
Rate Packages: Fixed / Floating
Charges for Prepayment/Foreclosure: Nil
Mahindra Finance Home Loan Interest Rates in 2026
MRHFL offers home loans at an affordable interest rate starting at 8.50% per annum. Rates vary depending on the employment status and income type of the borrower. The NBFC primarily offers home loans on a floating basis, but also offers fixed-rate packages that are subject to revision every 3 years depending on market conditions.
| Loan Slab | Interest Rate for Home Loan |
|---|---|
| Floating Plan (Salaried - bank salaried) | Starts at 8.50% per annum |
| Floating Plan (Salaried - cash salaried) | Starts at 11.00% per annum |
| Floating Plan (Salaried - agriculturist) | Starts at 14.50% per annum |
| Floating Plan (Self-employed) | Starts at 8.50% per annum |
Mahindra Finance Home Loan Eligibility Criteria
Mahindra Home Finance offers easy home loans to aspiring homeowners who can prove their eligibility. The NBFC keeps the bar simple: a specified age range, nationality and a minimum income. The table below sets out the criteria:
For Salaried Individuals
Age Range (in years)
21-58 years
Nationality
Indian residents
Minimum Income Earned
Rs. 10,000 per month
For Self-Employed Individuals
Age Range (in years)
21-58 years
Nationality
Indian residents
Minimum Income Earned
Rs. 10,000 per month
Mahindra Finance Home Loan Processing Fee and Charges
Mahindra Housing Finance charges a nominal processing fee of 1% to 3.5% of the loan amount. The NBFC also levies some other fees for documentation and the other steps involved in processing a home loan. The table below sets them out:
| Processing Fee | 1% - 3.5% of the loan amount (subject to a minimum of Rs. 1,000) |
| Document Fee | Up to Rs. 1,500 |
| Duplicate No Objection Certificate | Up to Rs. 100 |
| Document Retrieval Charges | Up to Rs. 500 |
| Cheque Cancellation / Re-Issue Charges | Up to Rs. 500 |
| Cheque Bounce Charges | Up to Rs. 500 |
| Additional Interest Payment | Up to 24% per annum on the instalments due |
| Reissuance of Statement of Account | Up to Rs. 250 |
| Reissuance of Amortisation Schedule | Up to Rs. 100 |
| DD / Pay Order Issuance Charges | Up to Rs. 150 |
Mahindra Finance Home Loan Schemes and Top Plans
Mahindra Home Finance understands the varied needs of aspiring homeowners. Keeping this in mind, the NBFC offers a wide range of home loan schemes:
- Affordable scheme to fund the construction of a home on a plot
- Maximum loan amount of up to 75% of the construction cost
- Maximum repayment tenure of up to 20 years
- Ideal for improving or renovating an existing home
- Maximum loan amount of up to 75% of the construction cost
- Maximum repayment tenure of up to 20 years
- Best suited to extending an existing home
- Maximum loan amount of up to 75% of the construction cost
- Maximum repayment tenure of up to 20 years
- For purchasing a new home at an affordable rate of interest
- Maximum loan amount of up to 75% of the property value
- Maximum repayment tenure of up to 20 years
- Flexible balance transfer of an existing home loan to MRHFL
- Affordable rate of interest
- Additional top-ups available
* Note: All of the above home loan plans are made available to applicants solely at the discretion of Mahindra Finance, taking into consideration the earning and repayment capacity of the applicant.
Documents Required for Mahindra Finance Home Loan
MRHFL offers quick home loans with minimum documentation. Below is the list of documents required. These are general KYC documents, with some variation between salaried and self-employed applicants:
| Proof of Income |
|
| Other Required Documents |
|
| Proof of Income |
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| Other Required Documents |
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| Identity & Address Proof |
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| Documents Related to Property |
|
Apply for a Mahindra Finance Home Loan Through BASIC Home Loan
Interested borrowers can apply for a Mahindra Finance home loan in the following way:
Apply Now on the BASIC Website
Head to the APPLY NOW section on the BASIC Home Loan website.
Share Your Requirement
Enter your name, contact number, loan amount and pincode, then submit the form.
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