MAS Rural Housing and Mortgage Finance

MAS Rural Housing and Mortgage Finance Rates 2023

Home loans of up to Rs.60 lakh can be availed with a repayment tenure of up to 20 years with MAS Rural Housing and Mortgage Finance.

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MAS Rural Housing and Mortgage Finance Limited Home Loan Schemes

1. MAS Home Purchase Loan

• Loans are available for agriculturists, self-employed non-professionals, self-employed professionals, and salaried employees.
• Repayment tenure can range between 60 months and 240 months.
• Loans are provided for the purchase of old or new properties that are under construction or ready for construction.
• The loan amount can range between Rs.1 lakh and Rs.60 lakh.
• Up to 90% of the property’s value may be availed as a loan.

2. Home Construction Loan

• Loans are provided for the construction of a house in a non-agricultural land that is within the limits of the municipal development authority.
• The loan amount can range between Rs.1 lakh and Rs.60 lakh.
• Loans are provided at attractive interest rates.
• Loan tenure can range between 5 years and 20 years.
• 75% of the market value of the property may be provided as a loan.
• Loans are available for agriculturists, self-employed non-professionals, self-employed professionals, and salaried employees.

3. Home Extension and Renovation Loan

• Loans are provided at attractive interest rates.
• The loan amount can range between Rs.50,000 and Rs.35 lakh.
• Loans are provided for agriculturists, self-employed non-professionals, self-employed professionals, and salaried employees.
• Repayment tenure can range between 5 years and 20 years.
• Loans are provided for the renovation of your current house or for adding space in your home.
• Up to 90% of the market value that is required for renovation as per the policy guidelines may be provided.

MAS Rural Housing and Mortgage Finance Limited EMI Calculator

In case you wish to avail a home loan, the monthly payments that must be made can be easily checked by using the Equated Monthly Instalment (EMI) home loan calculator provided by BankBazaar. The process to calculate the EMI is very simple and only minimal details will need to be entered. The details that must be entered to check the monthly payments are the processing fee, interest rate, tenure, and loan amount. Using the EMI calculator helps in saving time as well.

MAS Rural Housing and Mortgage Finance Limited Eligibility Criteria

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Documents Required to Apply for MAS Rural Housing and Mortgage Finance

Salaried Employees

• Application form along with photographs
• Salary certificate or last three months’ salary slips
• Bank statements for the last six months
• Residence proof
• Identity proof
• Date of birth proof
• Form 16
• Cheque for the processing fees

Self-Employed Professionals

• Application form along with photographs
• Business existence proof
• Educational Qualification Certificate
• Cheque for the processing fees
• Residence proof
• Identity proof
• Date of birth proof
• Bank statement for the last year
• Income Tax Returns for the last three years (The gap between 2 Income Tax Returns must be a minimum of 6 months)
• Profit and Loss statement
• Balance Sheet

Self-Employed Non-Professionals

• Application form along with photographs
• Business Existence proof
• Business profile
• Bank statement for the last year
• Residence proof
• Identity proof
• Date of birth proof
• Income Tax Returns for the last three years (The gap between 2 Income Tax Returns must be a minimum of 6 months)
• Profit and Loss statement
• Balance Sheet
• Cheque for the processing fees

Agriculturist & Allied Activities

• Application form along with photographs
• Government Land Revenue records (8-A and 7/12 abstracts)
• Bank statements for the last 12 months
• Residence proof
• Identity proof
• Date of birth proof
• Milk statement for the last one year that is duly stamped and signed
• Cheque for the processing fees

Document Check List: Home Loan Document Required

You can use MAS Rural Housing and Mortgage Finance Limited home loans for purchasing or construction, or home renovation purposes. Make sure you have read the fine print carefully before signing up.