Manappuram Home Loan
Last Updated : July 26, 2019, 11:29 a.m.
About Manappuram Home Finance Home Loan
The company was founded in 1949 by late V.C.Padmanabhan in Thrissur District. The company commenced its operations at Valapad, mainly with money lending activity on a very modest scale. The company was also the first NBFC from Kerala to issue bonus shares in the ratio of 1:1 in 2007 and then, repeat the feat twice, in 2010 and in 2011 (making it three such instances in five years). Moreover, in 2007, Manappuram Finance Ltd became the first Kerala based NBFC to receive foreign Investment from FIIs, and also get the highest short term credit rating of A1+ from ICRA. Manappuram Finance has now ushered itself into the housing segment by providing home loans to individuals in order to support their long drawn wish of getting possession of their ‘own’ homes.
Keeping in view the objectives of Individuals, Manappuram Finance offers home loan for the following purposes:
- For Purchasing a new house
- For Constructing a new house on an acquired plot
- For doing expansion(incremental upgrade) in their existing house
- For making improvement & Renovation of their existing house.
Manappuram Home Loan Eligibility Criteria
| Particulars | Description |
|---|---|
| Interest Rates | As decided by the company on the basis of borrower's repayment capacity |
| Loan Amount | Rs. 5 lakhs upto Rs. 2 crores |
| Tenure | As decided by the company at the time of sanction of home loan |
| Age Limit | > 21 years and< 65 years at the time of loan maturity |
| Processing Fees | NIL |
| Pre-payment or Foreclosure | NIL |
| Loan to Value | 75% of the valuation of the property mortgage as security |
| Applicable to | Salaried Employees, Self-Employed Professionals &Self-Employed Non-Professionals(Businessmen) |
Manappuram Home Loan EMI Calculator
Home loan decisions are very critical. They are usually based on estimated Equated Monthly Installments(EMI’s) payable on your housing loan each year. In order to know the best approximation for this financial decision, use a Home loan calculator .
By using EMI calculator, you will be able to know about approximate figures for the total payments due along with a break-up of the Home Loan repayment process. The calculations made is based on the loan tenure as well as the interest rates that are applicable on the same.
Moreover, you can also derive an accurate result about the ratio of the principal amount to the interest due, subject to the effect of the Home Loan tenure and interest rates.
For example: You are interested in obtaining a loan amount of ₹20 lakhs for purchasing a 1-bhk plot on suburbs of Sonipat. The tenure of your home loan is 20 years at an interest rate being 10.50% p.a.The following table provides you details on your calculated EMI along with interest and the total amount that costs you against the sanctioned amount for a home loan.
Table Showing EMI, Interest Outgo, and Total Repayment Amount
EMI, Total Interest Outgo, Total Repayment (Interest + Principal)
| Year | Principal | Interest | Balance Amount |
|---|---|---|---|
| 1 | ₹ 31,078 | ₹ 2,08,533 | ₹ 19,68,921 |
| 2 | ₹ 34,503 | ₹ 2,05,108 | ₹ 19,34,417 |
| 3 | ₹ 38,305 | ₹ 2,01,305 | ₹ 18,96,111 |
| 4 | ₹ 42,527 | ₹ 1,97,084 | ₹ 18,53,584 |
| 5 | ₹ 47,214 | ₹ 1,92,397 | ₹ 18,06,370 |
| 6 | ₹ 52,417 | ₹ 1,87,194 | ₹ 17,53,953 |
| 7 | ₹ 58,193 | ₹ 1,81,417 | ₹ 16,95,759 |
| 8 | ₹ 64,606 | ₹ 1,75,004 | ₹ 16,31,152 |
| 9 | ₹ 71,726 | ₹ 1,67,884 | ₹ 15,59,425 |
| 10 | ₹ 79,631 | ₹ 1,59,980 | ₹ 14,79,793 |
| 11 | ₹ 88,407 | ₹ 1,51,204 | ₹ 13,91,386 |
| 12 | ₹ 98,149 | ₹ 1,41,461 | ₹ 12,93,236 |
| 13 | ₹ 1,08,966 | ₹ 1,30,645 | ₹ 11,84,270 |
| 14 | ₹ 1,20,974 | ₹ 1,18,636 | ₹ 10,63,295 |
| 15 | ₹ 1,34,306 | ₹ 1,05,305 | ₹ 9,28,989 |
| 16 | ₹ 1,49,107 | ₹ 90,503 | ₹ 7,79,881 |
| 17 | ₹ 1,65,539 | ₹ 74,071 | ₹ 6,14,341 |
| 18 | ₹ 1,83,782 | ₹ 55,828 | ₹ 4,30,558 |
| 19 | ₹ 2,04,036 | ₹ 35,575 | ₹ 2,26,522 |
| 20 | ₹ 2,26,695 | ₹ 13,089 | ₹ 0 |
Documentation for Manappuram Home Loan
| Salaried Individuals | Self-employed/ Businessmen |
|---|---|
| Application form duly filled-up with photograph affixed on the space provided for the purpose. | |
| Identity Proof (Aadhaar Card, PAN Card or Election Identity Card), age proof, residence proof. | |
| Copies of the Bank Account Statements for the last six months of all the Bank Accounts including loan accounts/OD Accounts, if any. | |
| Salary slips for the latest three months along with CTC letter. | Copies of the Income-tax Returns for the last 3 years along with financial statements, such as P&L Account and the Balance Sheet for the last three years with tax audit compliance report (wherever applicable) duly certified by the Chartered Accountants. |
| Form No 16 along with IT returns and computation for total income for the last three years. | Business Profile. |
Features and Benefits of Manappuram Home Loan
- Easy documentation
- Reasonable Interest Rates
- Quick and hassle-free disbursement of loans
- Expert legal and technical advise for assisting customers in making the right decision
- Tax Benefits under the Income Tax Act, 1961
Manappuram Home Finance Branches
Manappuram has 3700+branches across 28 states of India. For any queries regarding the processing of a home loan, interest rates or having any grievances, call an experienced customer care official on 800-420-22-33(Toll-free number) or drop an email at the email address mentioned on the website.
Some of the branch addresses have been listed below. For searching your nearest branch in your state, go through the branch locator given on the website.
| State | Branch Address |
|---|---|
| Andhra Pradesh | 1. Branch: BenzCircle |
| Vijayawada Benzcircle II Door No. 59-14-2, Ist Floor of Laxmi Vilas Bank, Opp Matha Towers, Gayathri Nagar, Benz Circle, Krishna Dt., A.P Pin - 520 008 | |
| Phone No : 0866-2471787 / 7569524960 | |
| 2. Branch: Governerpet Eluru | |
| Governorpet Eluru Road Door No. 27-1-139, Ist Floor, Challapalli Bunglaw, Opp. Hanuman Temple, Governorpet Eluru Road, Vijayawada Dt., Pin - 520 002 | |
| Phone no: 0866-2577173 / 7306746530 | |
| 3. Branch: Eluru | |
| Eluru Door No. 22C-2-40, Ist Floor, Badetvari Street, Nr. Old Bus Stand, Eluru, West Godawari Dt., A.P Pin - 534 002 | |
| Phone : 08812-227472 / 7306524204 | |
| 4. Branch Name : J.P Road,Rajamundry | |
| Rajahmundry JP Road Building No. 30-1-5, J P Road, Nr. Fort, Kandakam, Rajahmundry, East Godawari Dt., A.P Pin - 533 101 | |
| Phone no : 0883-2462177 / 7672078821 | |
| Bihar | 1. Branch Name : Boring Road Patna |
| Boring Road Building No. 1220/1/426B, Ist Floor, Opp. Oriental Insurance Companay, Harihar Chamber, Patna Dt., Pin - 800 001 | |
| Phone no : 0612-2532003 / 9304971838 | |
| 2. Branch Name : Panta City-Gurhatta | |
| Panta City-Gurhatta Hold No. 56A/46A/39, Ist Floor, Mahalakshmi Complex, Ward No. 59, Near 9 to 9 Super Market, Gurhatta, Patna Dt., Pin - 800 008 | |
| Phone no : 0612-2640162 | |
| 3. Branch Name : Muradpur, Patna | |
| Muradpur, Patna Building No. 134/135, Ist Floor, Alka Jewellers Ashok Rajpath, Opp. Anjuman Islamia Hall, Near PMCH Main Gate, P.O. Bankipore HO, Patna Dt., Pin - 800 004 | |
| Phone no : 0612-2300234 / 9304412929 | |
| 4.Branch Name : Dujra, Patna | |
| Dujra, Patna Building No. 53, Ground Floor, Sheela Sadan, Main Road, Bharat Petrol Pump, P.O. Patna GPO, Patna Dt., Pin - 800 001 | |
| Phone : 0612-2532004 / 9386442930 | |
| 5.Branch Name : Digha Ghat, Patna | |
| Digha Ghat, Patna Kiran Devi Building, Ist Floor, Main Road, Digha Ghat, Near Railway Line, Digha Ghat P.O., Patna Dt., Pin - 800 011 | |
| Phone : 0612-2560251 / 7488112968 | |
| 6. Branch Name : Manpur Gaya | |
| Manpur Gaya No. 52, Holding No. 63A/95, Gaulaxni Road, P.O., Buniyadgang, P.S. Muffisil, Near Sudha Takies, Opp. MBGB Bank, Gaya Dt., Pin - 823 003 | |
| Phone : 0631-2250156 | |
| 7. Branch Name : Bodh Gaya | |
| Bodh Gaya Building Holding No. 129, Ward No. 18, Block No. 1966 (Old) 2966 (New), P.O., Bodhgaya, Near Dhai Temple, Gaya Dt., Pin - 824 231 | |
| Phone : 0631-2200086 |
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