MDCC Bank Mortgage Loan
Unlock the Potential of Your Property with MDCC Bank Mortgage Loan At MDCC Bank, we offer Mortgage Loans that allow you to leverage the value of your property to meet your financial needs. Whether you need funds for business expansion, education, medical expenses, or any other personal requirement, our Mortgage Loan is designed to provide you with the financial flexibility you need.
| 1 | Eligible persons | Any individual owning building with adequate means to repay the principal and interest of the loan shall be eligible to apply for the loan. |
| 2 | Loan Amount | Maximum Rs.2000000/ |
| 3 | Loan Term | Maximum 120 Months |
| 4 | Rate of interest | 10% |
| 5 | Interest Type | Fixed |
| 6 | Purpose | Repairs/renovation of the House,Medical Expense,Marriage Expense,Education Expense Business and Business Development. |
Key Features of MDCC Bank Mortgage Loan:
- Competitive Interest Rates: Benefit from attractive interest rates of 10% that make your loan affordable.
- Flexible Repayment Tenure: Choose a repayment period that suits your financial planning, with tenures extending up to 10 years.
- High Loan Amount: Avail a loan amount up to 70% of the market value of your property or Rs.20 Lakhs whichever is higher.
- Simple Documentation: Enjoy a hassle-free application process with minimal documentation requirements.
- Quick Disbursal: Get your loan approved and disbursed quickly to meet your urgent financial needs.
- Multiple Property Types Accepted: Secure a loan against residential, commercial, or industrial properties.
Eligibility Criteria:
- Age: Applicants must be between 21 and 65 years of age.
- Income: Regular income source to demonstrate repayment capability.
- Credit Score: A good credit history and score to qualify for competitive rates.
- Employment: Both salaried and self-employed individuals are eligible.
Documents Required:
- Identity Proof: Passport, Aadhaar, PAN card, Voter ID, or Driving License.
- Address Proof: Utility bills, Aadhaar, Passport, or Rental agreement.
- Income Proof: Salary slips, bank statements, ITR, or audited financials for self-employed.
- Property Documents: Title deed, property tax receipts, approved building plan, etc.
Why Choose MDCC Bank for Your Mortgage Loan?
- Customer-Centric Approach: We prioritize your needs and provide customized solutions.
- Transparency: No hidden charges and complete transparency in our dealings.
- Support: Dedicated relationship managers to assist you through the loan process.
Unlock the potential of your property with MDCC Bank Mortgage Loan. Apply now and achieve your financial goals with ease!
Mortgage Loan FAQs
What is a Mortgage Loan?
A Mortgage Loan allows you to borrow money against the value of your property. The property serves as collateral for the loan, and you can use the funds for various personal or business needs.
What types of properties can be mortgaged?
MDCC Bank accepts residential, commercial, and industrial properties as collateral for mortgage loans.
What is the maximum loan amount I can avail myself of?
You can avail a loan amount up to 70% of the market value of your property, subject to eligibility and appraisal.
What is the repayment tenure for a Mortgage Loan?
The repayment tenure for a Mortgage Loan at MDCC Bank can extend up to 10 years, offering flexibility to choose a tenure that suits your financial planning.
How are the interest rates determined?
Interest rates for Mortgage Loans are determined based on factors such as the loan amount, tenure, property value, and the applicant’s credit profile. Contact our branch or visit our website for the latest rates.
Can I transfer my existing mortgage loan to MDCC Bank?
Yes, you can transfer your existing mortgage loan from another bank to MDCC Bank at competitive interest rates and better terms through our balance transfer facility.
What documents are required to apply for a Mortgage Loan?
To apply for a Mortgage Loan, you will need the following documents:
Identity Proof: Passport, Aadhaar, PAN card, Voter ID, or Driving License.
Address Proof: Utility bills, Aadhaar, Passport, or Rental agreement.
Income Proof: Salary slips, bank statements, ITR, or audited financials for self-employed.
Property Documents: Title deed, property tax receipts, approved building plan, etc.
How can I apply for a Mortgage Loan at MDCC Bank?
You can apply for a Mortgage Loan through the following ways:
- Walk into any MDCC Bank branch for personalized assistance.
- Call our customer service for guidance and support.
Is there a nomination facility available for Mortgage Loans?
Yes, MDCC Bank offers a nomination facility for Mortgage Loans. You can nominate an individual at the time of loan application or update the nominee details during the loan tenure.