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  • Manipal Housing Finance Syndicate

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  • Manipal Housing Finance Syndicate offers a variety of home loan schemes for eligible customers at attractive interest rates that’s linked to the financial institution’s PLR (Prime Lending Rate). The repayment tenure can be extended for a period of up to of 20 years. You can get a financing of up to 90% of the total property cost (varies from scheme to scheme and based solely at the bank’s discretion) with Manipal Housing Finance Syndicate.

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    We found 37 Manipal Housing Finance (MHFSL)
    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    8.40% - 8.50% Floating
    Up to ₹1 Cr - 0.25% of Loan Amount, subject to maximum ₹10,000/- (Plus GST), Above ₹1 Cr and up to ₹5 Crs - 0.25% of Loan Amount, subject to maximum ₹25,000/- (Plus GST)
    30L - 5Crs
    5-30 Years
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    Fees & Charges
    Good to Know
    8.65% - 10.35% Floating
    0% - 0.50% + Applicable Taxes One time fee
    5L - 10Crs
    3-30 Years
    What you'll love
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    Perks
    Fees & Charges
    Good to Know
    8.80%- 9.20% Floating
    12,000 (inclusive of GST) One-Time Fee
    20L - 5Crs
    1-30 Years
    What you'll love
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    Perks
    Fees & Charges
    Good to Know
    8.40% - 8.85% Floating
    Up to 0.5% (max. ₹11,800) One time fee
    5L - 10Crs
    1-30 Years
    What you'll love
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    Perks
    Fees & Charges
    Good to Know
    8.75% - 11.0% Floating
    Up to 0.5% One time fee
    2L - 3Crs
    1-30 Years
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    Perks
    Fees & Charges
    Good to Know
    8.55% - 9.25% Floating
    0.5%+GST PF (For salaried) (Not applicable for plot loans)+Tax (for Self employed)
    12L - 5Crs
    1-20 Years (10 yrs plot loan)
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    Perks
    Fees & Charges
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    8.80% - 11.75% Fixed/Floating
    0.50% (min. ₹10,000) One time fee
    5L - 10Crs
    1-30 Years
    What you'll love
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    Perks
    Fees & Charges
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    9% Floating
    ₹ 10000+ taxes One time fee
    50L - 5Crs
    1 - 25 Years
    What you'll love
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    Perks
    Good to Know
    8.55% - 8.99% Floating
    ₹5,000 to ₹10,000 + applicable tax One time fee
    20L - 10Crs
    1-30 Years
    What you'll love
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    Perks
    Think about
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    9.25% Floating
    0.50% (min. ₹10,000)
    1Cr - 5Crs
    1-20 Years
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    Fees & Charges
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    9.25% - 11.20% FIXED
    Up to 0.5% One time fee
    2L - 3Crs
    1-30 Years
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    8.70% - 10.95% Floating
    Up to 0.5% One time fee
    2L - 3Crs
    1-30 Years
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know

    Manipal Housing Finance (MHFSL) was founded in the year 1986 by the Late Dr T M A Pai and is part of the Manipal Group. The Manipal Group has over the years marked its presence in the country in the education & health care, hospitality, banking & finance, information technology etc. Manipal Housing Finance is one of the prominent sectors of the organization. It is not only promoted by the Manipal Group but also Syndicate Bank.

    Home Loans from Manipal Housing Finance:

    The products that are offered under Home Loans and the purpose of each:

    • Home Loan: To purchase a house/flat or to construct a house on a plot that is already owned by the borrower
    • Home Improvement Loan: To carry out any kind of repair on a house/flat that is already owned by the applicant. This can be structural, external or internal repairs. Everything from plumbing, electrical work, water proofing, tiling, replacing doors/windows etc. can be carried out with this loan.
    • Home Extension Loan: To build an additional room in the house or floor on the house that is already owned by the applicant or any other kind of extension to the house can be carried out with this loan.
    • Site Loan (Land Loan): to purchase house site/land.
    • Home Equity Loans: A loan can be sanctioned against the security of the applicant’s house so that the money can be used for an urgent, important need such as for a child’s marriage expense, medical treatment, education expense etc. The current market value of the house can be received in such a case.
    • NRI Loans: Applicants who are in the NRI category can avail this loan for the purpose of purchasing/ constructing House/Flat, Home Improvement, Purchase of Site (Land Loan) or Home Extension.

    Features of Manipal Housing Finance products:

    • Repayment made easy with long loan tenure
    • Avail maximum feasible loan amount through quick processing
    • Flexible terms
    • Personalised service though out the process of availing your loan and post-disbursement service
    • Existing customers can avail additional loan and Top-up loan
    • Loans can be availed by both salaried individuals and self-employed individuals
    • Repayment: Pre-EMI interest must be paid until the loan has been disbursed in full and EMI must to be paid once the loan has been disbursed in full.
    • Mode of re-payment:
      1. Standing Instruction
      2. PDCs (Post Dated Cheques) from NRE Bank Account
      3. Salary deduction
      4. ECS
    • Security: As security, the property in question will be sanctioned as the `security’. Title deeds will have to be deposited. Collateral also as required
    • Maximum loan term and amount:
    Type of home loan Maximum loan term Maximum loan amount
    Home Loan · Salaried Individuals can avail loan for 20 years or up to the retirement age (whichever is first) · Self-employed can avail loan for 15 Years or up to the age of 65 years (whichever is first) 85% of the cost of the house/flat and 85% of the cost of construction (estimated amount)
    Home Improvement Loan · Salaried Individuals can avail loan for 20 years or up to the retirement age (whichever is first) · Self-employed can avail loan for 15 Years or up to the age of 65 years (whichever is first) 100% of the cost of the improvement can be availed as loan, but this is subject to 75% of the market value of the property.
    Home Extension Loan · Salaried Individuals can avail loan for 20 years or up to the retirement age (whichever is first) · Self-employed can avail loan for 15 Years or up to the age of 65 years (whichever is first) 100% of the cost of the extension can be availed as loan, but this is subject to 75% of the market value of the property.
    Site Loan · Salaried Individuals can avail loan for 20 years or up to the retirement age (whichever is first) · Self-employed can avail loan for 15 Years or up to the age of 65 years (whichever is first) 85% of the purchase cost.
    Home Equity Loans · Salaried Individuals can avail loan for 20 years or up to the retirement age (whichever is first) · Self-employed can avail loan for 15 Years or up to the age of 65 years (whichever is first) 60% of the value of the house property.
    NRI Loans · Salaried Individuals can avail loan for 15 years or up to the retirement age (whichever is first) · Self-employed can avail loan for 15 Years or up to the age of 65 years (whichever is first) · 85% of the cost of the house (which includes the cost of the land) or Flat for home loans. · 100% of the cost of the improvement can be availed as loan for the Home Improvement Loan. However, this is subject to 75% of the market value of the property. · 100% of the cost of the extension can be availed as home extension loan, but this is subject to 75% of the market value of the property. · For Site Loan (Land Loan), 85% of the purchase cost can be availed as loan

    Documentation for Manipal Housing Finance:

    For Home Loan, Home Improvement Loan, Home Extension Loan, Site Loan (Land Loan) and Home Equity Loans, the following documents will have to be submitted:

    • Duly filled application form with the applicant’s photo affixed.
    • Residence proof, age proof, Identity Proof (Election Identity Card/ PAN Card)
    • Last six months’ Bank Account Statements of all Bank Accounts (which includes OD Accounts/ loan accounts).
    • Salaried individuals will have to provide last three months salary slips and CTC letter. They will also have to produce Form No 16 with IT returns. The last three years total income proof will also have to be produced.
    • Self-employed individuals will have to produce their business profile. They will also have to present the bank with copies of last three years’ income-tax returns and financial statements (the Balance Sheet, tax audit compliance report and P&L Account etc.) will have to be certified by Chartered Accountants.

    For NRI Loans, the following documents will have to be submitted:

    • One local guarantor
    • Copy of Visa/Passport
    • Latest work permit
    • Salary Certificate
    • Latest Service Contract
    • Duly filled application form with affixed photograph
    • Power of Attorney
    • Bank Statement of the foreign account in which the applicant’s salary is credited (copy).
    • Statement of the applicant’s Indian Bank Account. This should reflect the amount that the applicant has remitted funds for a minimum period of six months.

    FAQs:

    1. What is the Rate of Interest for the Home Loans?

      The Rate of Interest will be on `floating basis’. This will be linked to the PLR of the company. Further, the rate of interest will vary according to any change in the PLR. To know the current rate of interest, please contact any branch of MHFSL.

    2. What are the administrative fee, processing fee and prepayment charges?

      You need to contact a branch of MHFSL to find out the administrative fee, pre-payment fee and processing fee applicable.

    3. What is the funding norm for home loans in the case of purchasing a flat/house?

      Applicants can avail up to 85% of the cost (which includes the basic cost of the flat/house, Stamp Duty, Car Parking, registration fee all one time deposits, GST, etc). This is subject to the MHFSL Panel’s evaluation of the Market Value of the property as well as the loan eligibility of the borrower (whichever is lower).

    4. As an NRI, what are the documents that I will need to submit for the NRI loan?

      For NRI Loans, the following documents will have to be submitted:

      • One local guarantor
      • Copy of Visa/Passport
      • Latest work permit
      • Salary Certificate
      • Latest Service Contract
      • Duly filled application form with affixed photograph
      • Power of Attorney
      • Bank Statement of the foreign account in which the applicant’s salary is credited (copy).
      • Statement of the applicant’s Indian Bank Account. This should reflect the amount that the applicant has remitted funds for a minimum period of six months.
    5. What are the different modes of repayment that I can use?

      Modes of re-payment:

      1. Standing Instruction
      2. PDCs (Post Dated Cheques) from NRE Bank Account
      3. Salary deduction
      4. ECS
      

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    Manipal Housing Finance (MHFSL) Reviews

    • Corporation Bank Home Loan
      "Best Service"
      0.5 4.0/5 "Great!"
      I have taken Home loan directly through Corporation Bank .I have applied for the loan amount of 12 lakhs for the tenure of 18years .More documents collected for this home loan and got the loan amount on time and it was really sufficient .There was no drawbacks faced so far .I am satisfied with the service .
      Was this review helpful? 0
      , mumbai
      Reviewed on Oct 16, 2019
    • HDFC Limited
      HDFC Limited Home Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I had applied for home loan with HDFC limited on few months before, they have sanctioned a loan for 22 lakhs but due to some problem of my builder from my end I kept on hold for the loan process. They have detected for the processing fee of 11 thousands but they refunded 9 thousands rupees. The tenure of 15 years. Interest rate was nominal of 8.55%.
      Was this review helpful? 0
      , kanchipuram
      Reviewed on Oct 15, 2019
    • HDFC Limited Home Loan
      "Good"
      0.5 4.0/5 "Great!"
      With HDFC limited I have taken home loan on 8 months before which was processed through them directly. They have approved for 8 lakhs but as of now I have taken only for 5 lakhs remaining 3 lakhs I will get later from their end. Due to shop will come in commercial loan so I have split the loan amount to get it. For the tenure of 15 years. The processing fee for 5000 rupees. The rate of interest 8.8%, they have sanctioned the loan within one month.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Oct 15, 2019
    • Punjab National Bank Home Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I have availed Home loan directly through Punjab National Bank .The rate of interest and the processing fee was very high ,I have got the loan amount on delay basis and i have applied for 26 lakhs for the tenure of 15 years.I have not faced any difficulties until i have received the loan .
      Was this review helpful? 0
      , new delhi
      Reviewed on Oct 14, 2019
    • SBI Home Loan
      "Excellent Loan Service"
      0.5 5.0/5 "Blown Away!"
      SBI Home Loan is excellent because I've a salary account with them. They offered me a interest rate of 9.5% approximately. I took the loan amount of Rs. 23 lakhs so far i have got only Rs. 16 lakhs since my building is under construction. My EMI is not yet started. They sanctioned the loan in 2 working days.
      Was this review helpful? 0
      , dindigul
      Reviewed on Oct 14, 2019
    • SBI Home Loan
      "Easy and best loan"
      0.5 5.0/5 "Blown Away!"
      SBI is a best bank and they had a better option. There is only simple documentation required and executive came to my place for collecting all the documents. I got the loan within 7 days. SBI did not taken any processing charges and they gave better and cheap interest. They take minimal time and better response from the customer care so i had chosen SBI for my home loan.
      Was this review helpful? 1
      , agra
      Reviewed on Oct 11, 2019
    • Central Bank of India Home Loan
      "Highly recommendable bank"
      0.5 5.0/5 "Blown Away!"
      My home loan was purchased from Central bank of India. The branch offer was approved the loan immediately and they had a good behavior with the customer. I got the better clarity about the loan process as well as the rate of interest in central bank of India is less than compared to others so i have chosen this bank and the Branch Manager helped me in a better way.
      Was this review helpful? 3
      , bhubaneshwar
      Reviewed on Oct 05, 2019
    • DHFL Home Loan
      "Need to decrease interest charges"
      0.5 5.0/5 "Blown Away!"
      From DHFL I have taken a home loan almost more than a year. One of my cousin's friend working there he recommend to apply for a home loan. The process was smooth and sanctioned a loan within 6 days with sufficient amount of 20 years. The rate of interest was high.
      Was this review helpful? 4
      , vijayawada
      Reviewed on Oct 05, 2019
    • ICICI Bank Home Loan
      "Average Loan service"
      0.5 3.0/5 "Satisfactory"
      ICICI bank has provided me a home loan at the time of i want on a immediate basis. Since the necessity is over they have provided me a timeliness loan. I taken the loan amount of Rs. 10 lakhs and the have charged me a higher interest rates which i'm not comfortable with.
      Was this review helpful? 1
      , mumbai
      Reviewed on Oct 05, 2019
    • HDFC Limited Home Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I have balance transfer for a home loan with existing finance to HDFC LIMITED. One month before only I have a transfer of a loan. They have outstanding amount of 10 lakhs for the tenure period of 10 years. The rate of interest is 8.6% only for mortgage charges for 8 thousands need to pay for it.
      Was this review helpful? 1
      , goa
      Reviewed on Oct 04, 2019
    • review Home Loan
      "Need to decrease charges & improve customer service "
      0.5 1.0/5 "Really Bad"
      I have taken a home loan with SUNDARAM FINANCE on 10 years before which was processed through them directly. The amount which was given for 13 lakhs for the tenure period of 20 years. There was lot of issues I faced with them customer service is not good response. The rate of interest was high of 14% compare to other.
      Was this review helpful? 1
      , goa
      Reviewed on Oct 04, 2019
    • SBI Home Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I have taken home loan directly through State Bank Of India .The rate of interest and the processing fee was nominal ,I have got the loan amount on time and got a clear picture about the loan process ,I have availed this loan for the tenure of 20 years .I have completed only 2 years of EMI so far .,
      Was this review helpful? 4
      , vizianagaram
      Reviewed on Oct 04, 2019
    • Central Bank of India Home Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I have taken Home loan directly through Central Bank OF India ,I have got the loan on exact time ,The rate of interest and the processing fee was nominal ,I have got all the details about this loan very clearly through bank agent.The process was very easy and still this loan is active .
      Was this review helpful? 1
      , ramanathapuram
      Reviewed on Oct 04, 2019
    • SBI Home Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      Nearly 11 years before I had taken a home loan with STATE BANK OF INDIA which was processed directly to them.The loan amount was sufficient for the tenure period of 15 years. The rate of interest and processing fee are nominal. They have sanctioned a loan within few days and the process was good.
      Was this review helpful? 1
      , itanagar
      Reviewed on Oct 04, 2019
    • Central Bank of India Home Loan
      "Easily accessible bank"
      0.5 4.0/5 "Great!"
      I have just applied the home loan from Central bank of India. I had a reference over there hence i applied the home loan from Central Bank of India. Documentation process was hassle free. They have offered me a interest rate of 10.1% and the processing fee was 1% of the interest amount +18% GST charges. They have dispatched the loan 20 days. The staffs are so friendly
      Was this review helpful? 2
      , bangalore
      Reviewed on Oct 01, 2019
    • HDFC Limited Home Loan
      "Customer friendly loan service"
      0.5 4.5/5 "Excellent!"
      HDFC was the only bank which is offering for the home loan in the area where i have purchased the house so i opted with HDFC LIMITED. I had applied the loan amount of Rs. 28 lakhs and the given interest rate is 8.5% and they charged me a processing fee of nominal one. I took the loan 3 years ago and they took 40 to 50 days to sanctioned the loan.
      Was this review helpful? 2
      , ambala
      Reviewed on Oct 01, 2019
    • Punjab National Bank Home Loan
      "Very ease to get the loan"
      0.5 4.0/5 "Great!"
      I took a home loan with PNB Housing Finance Ltd because the terms and conditions are very liberal at that time, I have been expecting higher loan amount for my purchase. They have fulfilled my requirements and its more than 90%. The rate of interest is little bit higher and they are not following RBI guidelines. When interest rate is increased, they have started charging more but not reduced when it got reduced.
      Was this review helpful? 1
      , palakkad
      Reviewed on Sep 29, 2019
    • HDFC Limited Home Loan
      "Excellent"
      0.5 4.0/5 "Great!"
      I have completed my home loan with HDFC BANK before 3 years ago. I did foreclosure and that time the interest rate is not much. I bought a residential property and the loan procedure is very easy because my papers are strong and clear to proceed faster.
      Was this review helpful? 1
      , madurai
      Reviewed on Sep 29, 2019
    • Bank of Baroda Home Loan
      "Good Service"
      0.5 3.0/5 "Satisfactory"
      I have applied for Home loan directly through Bank Of Baroda and got the loan on stipulated time .This loan was upto 15 years and got the loan amount on time ,The agent gave all the required information about the loan process .I have got all the required details about the loan process and there was no drawbacks faced as well.
      Was this review helpful? 2
      , surat
      Reviewed on Sep 29, 2019
    • LIC Housing Home Loan
      "Not satisfactory"
      0.5 3.0/5 "Satisfactory"
      I am not happy with rate of interest which was given by LIC Housing Finance. I have purchased the Flat in 2017August. The loan amount was 40L and its 15 years tenure. The processing fee is not applicable. The customer service is good. But every year, they are raising the interest rate which was not good.
      Was this review helpful? 3
      , visakhapatnam
      Reviewed on Sep 28, 2019
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