CreditMantri matches your credit and demographic profile to Manappuram Finance Loan Against Property lending criteria - others just match your demographic criteria. We shortlist lenders willing to lend to you based on our proprietary matching algorithm.
In effect, we pre-screen your application to make sure you are likely to qualify as per the lender’s credit criteria. We upfront check whether you qualify for Manappuram Finance Loan Against Property. Hence the chances of your Manappuram Finance Loan Against Property application getting approved is higher.
Manappuram Finance Ltd. was incorporated in 1992 with its registered office in the Thrissur District of Kerala. It is one of the leading gold loan companies in India but offers a variety of other loan products as well.
Unexpected situations can crop up any time of your life - be it loss of With a Loan against Property from Manappuram you can now source funds at a cheaper cost than taking out a personal loan or a credit card.
Mortgaging an existing property (which is in your name) is a god way to get a loan at better interest rates in order to meet your immediate financial needs without selling off any assets you may own. You can retain your property, which under normal conditions would tend to aappreciate in value over the years. Hence, mortgaging a property to raise funds is wise decision as it is one of the cheapest retail loans available with lower interest rates compared to a personal loan.
You could use a Loan Against Property from Manappuram for any requirement ranging from funding your business to consolidation of debt or any other significant personal expense.
You can avail loan amount of up to Rs. 2 crores, depending on the value of your property, your income and other factors.
Pay your loan over a tenure spread out over a longer period of time, depending on your convenience. The tenure ranges from 24 months to 84 months.
Types of collateral accepted
You can avail a loan Against Property from Manappuram by pledging the following as collateral:
Manappuram offers a range of interest rates for their products. For the latest interest rates, you can contact their nearest branch. For a complete list of branches, you can view their website. Keep in mind that interest rates change all the time depending on external market conditions and the internal policies of the lender.
In order to qualify for a Loan Against Property from Manappuram, you need to be:
Following are the basic requirements for availing a Loan Against Property from Manappuram, for all the categories (Self Employed Professional/Non Professional, Individual/Proprietor, Partnership /Limited Company)
More documents might be asked at the time of application depending on your profile. It is a good idea to keep all your finance documents ready and in order before applying with Manappuram for a Loan Against Property.
How is availing a loan against property different from other loans like Personal Loan?
A loan against property is sanctioned by mortgaging the property of the customer with the bank or other financial institution. A personal loan is solely approved on the basis of the applicant’s income stability. Credit cards and personal loans are expensive forms of credit due to the relatively high interest rates. A loan against property is different in the sense that it is secured by your property. Compared to personal loans and credit cards, it has lower interest rates because it is a secured loan and the lender’s money is safeguarded by the property pledged as collateral. Personal loans and credit card borrowings are unsecured and therefore usually carry a higher rate of interest because of the risk involved in lending the money.
Are there any end-use restrictions of the loan secured by mortgaging my property?
There is no such restriction, provided that the end use of the loan is legal. You could use the loan to fund your business, as a working capital, to expand your business, for your child’s marriage, or for your personal needs.
What is the tenure range?
You can repay your loan over a tenure that ranges between 2-7 years.
What is the maximum loan amount I can avail?
You can avail a maximum loan amount of Rs. 2 crores, depending on the value of your property, your income and other factors.
How long will it take for me to get my loan?
You need to submit your application form along with all the supporting documents. Once you do that, the loan is sanctioned upon successful verification of the documents in question. All loan approvals are at the sole discretion of Manappuram Finance.
Manappuram offers Loan against Property is an option for those looking to mortgage their property to raise funds. This kind of loan makes use of existing assets that you already own and allows you to retain the asset for use in the future.
In order to apply for a Loan Against property in Manappuram, you will need to visit the nearest Manappuram branch office for an application form. A list of all the office branches along with the address is available on the website. Once you have applied for a loan and want to know the progress of your application, you could do a status check on your Manappuram Loan Against Property by contacting the nearest branch.
Alternatively, if you think you need help with your loan application and advice on loan eligibility, CreditMantri can guide you through the entire process and match you with the loan offer that best suits your profile.
14 February 2017
"Thanks to CreditMantri’s service As I had wanted to avail loan by mortgaging my property, I had to do good research, as after all, who doesn’t want to avail the lowest interest rates? My searches led me to CreditMantri, and after going through their website, I decided to avail a loan through them. CreditMantri is kind of a bridge between us, the customers, and the lenders. Useful thing about this is the quick process by which they deem you eligible for any kind of loan. Customer service is fairly good — they can answer any and every question you hurl at them. I was advised at length regarding my application by the customer service team itself, that by the time the representative from Manappuram came, I had practically nothing to ask. Yet, I negotiated for the best interest rate possible, and I got approved for a loan! Thanks to CreditMantri’s service, I was able to take my family for a round-the-world tour with ease."