MAGMA Home Loan

1. Home Loans offered for the following purposes:
   1. Construction of house or purchase of property
   2. Purchase of plot for constructing a house
   3. For home improvement, extension or renovation
   4. Balance transfer and/or top-up of existing home loan
   5. Loan against property for business or personal purposes
2. The minimum loan amount that can be availed is Rs.3 Lakh
3. The facility of Loan against Property is available for personal or business purposes.
4. The maximum home loan tenure is 20 years and the minimum home loan tenure is 1 year.
5. Project Finance is also made available for Developers.
6. Easy and minimal documentation
7. Fast processing of loan applications
8. Magma also offers doorstep service throughout the application process
9. Expert and dedicated team to assist customers on an end-to-end basis

Compare: Home Loan Interest Rate all Banks

Magma Housing Finance Eligibility

The following individuals are eligible to apply for a home loan from Magma Fincorp:

1. Individuals, Partner, Proprietor, Corporate-entity, and Partnership Entity can apply for home loans from Magma.
2. Developers who have undertaken Residential projects / Townships can also apply for housing finance from Magma.
3. Salaried and/or self-employed individuals of the following segments can also apply:
   1. Service providers
   2. Manufacturers
   3. Traders & Retailers
   4. Entrepreneurs

Magma Housing Loan Fees and Charges:

Magma Home Loan EMI Calculator

It is very important that you have a clear idea of the costs incurred when you avail a home loan since it will prepare you to plan your budget and manage your finances efficiently. Using an online home loan EMI calculator will help you to analyze the affordability of your home financing needs before applying for a home loan. Using a home loan EMI calculator is extremely simple and can be done from the convenience of your home at any time of your choice. All you have to do is enter some basic information such as the desired loan amount, applicable interest rate, loan tenure, etc and based on this you can find out the details of amortization. Just click on the "calculate" tab, and you will be redirected to the page that shows a detailed description of the amortization details, including the monthly EMI. The home loan calculator can be repeatedly used by altering the inputs till you arrive at the desired result. The home loan EMI calculator available on BankBazaar.com provides an accurate and elucidated report on your amortization schedule based on which you can make an informed decision.

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