Muthoot Fincorp Plot Loan

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Turn your dream home into reality

Rates as low as 6.90%*
Loans Up to 15 Crore
Doorstep Service
Hassle-free Disbursal
Unbiased Experts Advice

Muthoot Fincorp Plot Loan Features

The Interest Rate 7.00% p.a
Time Period Up to 5 – 20 years
Loan to Value Up to 70%
Processing Fees Up to 0.50% of the loan amount

Eligibility criteria for Muthoot Fincorp Plot Loan

  • Age: will be 23 to 70 years.
  • Profile Eligibility: Resident and Non-Resident of India, should be either Salaried or Self-Employed.

Benefits of Muthoot Fincorp Plot Loan

Muthoot Fincorp plot loan

  • Instant loan penalty within 48 hours*.

  • Online account availability.

  • Floating price options are available.

  • There are no hidden charges.

  • The maximum loan-rate ratio of up to 70%.

Plot Loan

Muthoot Fincorp plot loan is offered to the salaried and self-employed people who want financial help for purchasing a plot in India, with Muthoot Fincorp Plot Loan the financial help is provided and the borrower can repay the loan according to the bank interest rates.

1. Tenure

The tenure for the Muthoot Fincorp Plot Loan can be 5 – 20 years.

2. Prepayment Fine

A prepayment fee is not taken by Muthoot Fincorp for single applicants.

3. Loan to Value Ratio‭ (‬LTV‭)‬

The LTV can be up to 70%.

4. Tax Benefits

Muthoot Fincorp Plot Loan has no tax benefits.

Types of Muthoot Fincorp   Plot Loan

Muthoot Fincorp  Plot loan

It is provided by Muthoot Fincorp for the purchasing of land the applicant for investing in a land of the applicant’s choice.

Muthoot Fincorp Plot with Construction Loan

This is similar to the earlier one but the applicant is also required to start construction on the land after the purchase.

Muthoot Fincorp plot loans for self-employed

Type of plot loans self-employed

TruFixed plot Loan – 2 Year Fixed Rate Vary
In TruFixed plot Loan by Muthoot Fincorp, the 2 years, in the beginning is always fixed-rate and after that into variable-rate.

Adjustable-rate loan
In this loan by Muthoot Fincorp, EMI and also th principal amount is bound to change as the interest rate changes after every 6 months.

Muthoot Fincorp Plot Loan Interest Rates For self-employed Non – Professionals

Muthoot Fincorp   Adjustable Home Plot Loan

Loan Plot Loan Interest Rate (%)
women (up to 30 lakh) 7.05 to 7.55
others (up to 30 lakh) 7.10 to 7.60
women (above 30 lakh) 7.30 to 7.80
others (above 30 lakh) 7.35 to 7.85
Women (75.01 Lakhs & Above) 7.40 to 7.90
Others (75.01 Lakhs & Above) 7.45 to 7.95

Muthoot Fincorp   TruFixed Loan – 2 Year Fixed Rate Variant

Loan Plot Loan Interest Rate (%)
Women (upto 30 Lakhs) 7.50 to 8
Others (upto 30 Lakhs) 7.55 to 8.05
Women (Above 30 Lakhs) 7.65 to 8.15
Others (Above 30 Lakhs) 7.70 to 8.20
Women (75.01 Lakhs & Above) 7.75 to 8.25
Others (75.01 Lakhs & Above) 7.80 to 8.30

Muthoot Fincorp Plot Loan Interest Rates For self-employed professionals

Muthoot Fincorp Adjustable Rate Plot Loan

Loan Plot Loan Interest Rates (%)
Women (upto 30 Lakhs) 7.20 to 7.70
Others (upto 30 Lakhs) 7.25 to 7.75
Women (Above 30 Lakhs) 7.45 to 7.95
Others (Above 30 Lakhs) 7.50 to 8
Women ( 75.01 Lakhs & Above) 7.55 to 8.05

Muthoot Fincorp TruFixed Loan – 2 Year Fixed Rate Variant

Loan Plot Loan Interest Rates (%)
For Women (up to 30 Lakhs) 7.65 to 8.15
For Others (up to 30 Lakhs) 7.70 to 8.20
For Women (Above 30 Lakhs) 7.80 to 8.30
For Others (Above 30 Lakhs) 7.85 to 8.35
For Women ( 75.01 Lakhs & Above) 7.90 to 8.40
For Others ( 75.01 Lakhs & Above) 7.95 to 8.45

Muthoot Fincorp Plot Loan documents required for both self-employed Professionals and Non-Professionals

Requirements For Self Employed Individuals
Proof of Identity PAN Card, Passport
Proof of address Aadhar Card, Electricity/ Mobile Bill
Financial proof – ITR
– Business details, P/L statement from the business.
Other Documents – All the plot documents

Muthoot Fincorp Plot Loan fees and charges for self-employed

Processing fee

Up to 0.50%.

Prepayment charges

Adjustable-Rate Home Loans
– No prepayment needed

– The customer will be required to submit documents that Muthoot Fincorp deems appropriate and appropriate to verify the source of the loan at the time of the payment.
Fixed-Rate Home Loans
– No advance payment is required for any partial/full payment made by your sources i.e, other banks or financial institutions
– The customer must submit documents that Muthoot Fincorp deems appropriate and appropriate to determine the source of funding.
Fixed and Variable Rate Loans
During the period of Fixed-Rate:
– The client must submit documents approved by Muthoot Fincorp to verify the source of the money during the repayment of the loan in advance.

During the Variable Rate:
– No prepayment will apply.
– The prepaid amount shown will apply on the date of the loan agreement.

The Conversion Fees

Name of the Service Name of the charge/fee levied When payable Frequency Amount
Switch to a lower rate in Variable Rate Loans Conversion fees On conversion On every spread change A cap of up to 50% of the original outstanding and the stipulated amount at the time of conversion or whichever is lower is Rs. 50,000,000 tax.
Switching to Variable Rate Loan from Fixed Rate Loan Conversion fees On conversion Once A cap of up to 50% of the original outstanding and the stipulated amount at the time of conversion or whichever is lower is Rs. 50,000,000 tax.
Switching from Trufixed Fixed Rate to Variable Rate Loan Conversion fees On conversion Once 1.75% original arrears and tax in excess of the undisputed amount at the time of conversion.
Switch to Lower Rate Conversion fees On conversion On every spread change Half of the spread difference on principal dues and unspecified amount plus taxes with a minimum fee of 0.5% and a maximum fee of 1.550%.
Switch to Lower Rate Conversion fees On conversion On every spread change 0.5% of tax in excess of the original outstanding and undisputed amount at the time of conversion.

Cheque dishonor charges

Charged Rs 200.

Fees on Account of External opinion

Depending on the type of support provided, advocates and charges may be paid directly to the person concerned

Property insurance

The customer should remain active throughout the loan term by paying the premium.

Statutory/regulatory charges

Stamp duty is paid by the borrower respectively.

List of documents

Charged Rs.500

Photocopy of documents

Charged Rs.500

Increase/decrease in loan term

Charged Rs.500

Disbursement Cheque cancellation charge post disbursement

Charged Rs.200

Re-appraisal of loan

Charged Rs.2000

PDC swap

Charged Rs.200

Muthoot Fincorp Plot Loans for salaried individuals

Who can apply Muthoot Fincorp Plot Loans for salaried individuals?

Loan Maximum Amount(in %)
Up to Rs.30 lakh up to 80%
Rs.30.01 lakh to Rs.75 lakh up to 80%
Over Rs.75 lakh up to 75%

Type of plot loans for salaried individuals

TruFixed plot Loan – 2 Year Fixed Rate Vary
In TruFixed plot Loan by Muthoot Fincorp, the 2 years, in the beginning is always fixed-rate and after that into variable-rate.

Adjustable-rate loan
In this loan by Muthoot Fincorp, EMI and also the principal amount is bound to change as the interest rate changes after every 6 months.

Muthoot Fincorp Plot Loan interest rates for salaried individuals

Adjustable Home Rate Loan

Loan Loan Interest Rates (in %)
Women (Upto 30 Lakhs) 7.05 to 7.55
Others (Upto 30 Lakhs) 7.10 to 7.60
Women (Above 30 Lakhs) 7.30 to 7.80
Others (Above 30 Lakhs) 7.35 to 7.85
Women (75.01 Lakhs & Above) 7.40 to 7.90
Others (75.01 Lakhs & Above) 7.45 to 7.95

TruFixed Loan – 2 Year Fixed Rate Variant

Loan Loan Interest Rates (%)
For Women (upto 30 Lakhs) 7.50 to 8
For Others (upto 30 Lakhs) 7.55 to 8.05
For Women (Above 30 Lakhs) 7.65 to 8.15
For Others (Above 30 Lakhs) 7.70 to 8.20
For Women (75.01 Lakhs & Above) 7.75 to 8.25
For Others (75.01 Lakhs & Above) 7.80 to 8.30

Muthoot Fincorp Plot Loan documents required for salaried individuals

Requirements For Salaried Individuals
Proof of Identity PAN Card, Passport
Proof of address Aadhar Card, Electricity/ Mobile Bill
Financial proof – Must have last 6-month salary slips
– Credit score
Other Documents – All the plot documents

Muthoot Fincorp Plot Loan fees and charges for salaried individuals

Processing fees

Up to 0.50% – 1%.

Prepayment charges

Adjustable-Rate Home Loans
– No prepayment needed

– The customer will be required to submit documents that Muthoot Fincorp deems appropriate and appropriate to verify the source of the loan at the time of the payment.
Fixed-Rate Home Loans
– No advance payment is required for any partial/full payment made by your sources i.e, other banks or financial institutions
– The customer must submit documents that Muthoot Fincorp deems appropriate and appropriate to determine the source of funding.
Fixed and Variable Rate Loans
During the period of Fixed-Rate:
– The client must submit documents approved by Muthoot Fincorp to verify the source of the money during the repayment of the loan in advance.

During the Variable Rate:
– No prepayment will apply.
– The prepaid amount shown will apply on the date of the loan agreement.

Conversion fees

Name of the Service The charge levied When payable Frequency Amount (in Rs.)
Switch to lower rate in Variable Rate Loans Conversion fees On conversion On every spread change A cap of up to 50% of the original outstanding and the stipulated amount
Switching to Variable Rate Loan from Fixed Rate Loan Conversion fees On conversion Once A cap of up to 50% of the original outstanding and the stipulated amount
Switching from Trufixed Rate to Variable Rate Loan Conversion fees On conversion Once 1.75% original arrears and tax
Switching to Lower Rate Conversion fees On conversion On every spread change A min. fee of 0.5% and a max. fee of 1.550%.
Switching to Lower Rate Conversion fees On conversion On every spread change 0.5% of taxes

Cheque dishonor charges

Charged Rs 200.

Fees on Account of External opinion

Depending on the type of support provided, advocates and charges may be paid directly to the person concerned

Property insurance

The customer should remain active throughout the loan term by paying the premium.

Statutory/regulatory charges

Stamp duty is paid by the borrower respectively.

List of documents

Charged Rs.500

Photocopy of documents

Charged Rs.500

Increase/decrease in the loan term

Charged Rs.500

Disbursement Cheque cancellation charge post disbursement

Charged Rs.200

Re-appraisal of loan

Charged be Rs.2000

PDC swap

Charged be Rs.200

How to apply for Muthoot Fincorp  Plot Loan With DialAbank

  • For Muthoot Fincorp Plot Loan, go to Dialabank.
  • A form will appear on your screen, you just have to fill the same and submit it.
  • That’s it, you can call Dialabank at 9878981144 if you are facing any issues.

Additional tips to get Muthoot Fincorp  Plot Loan Easily

  • Make sure you have a good loan history before applying for the loan.
  • A good credit score helps immensely
  • Make sure you have the documents for the plot you are willing to purchase. 

Muthoot Fincorp   Plot loan with Construction vs Home Loan

Parameters Plot Loan with Construction Regular Home Loan
Tenure ‬Up to 15‭ ‬years Up to 30 years
Prepayment fine Free Free
Loan to Value (LTV) up to 70% up to ‬90%‭
Plot with Construction Loan interest rates The rates are similar to a home loan but can go higher. Start at 6.80%*
Tax Benefits Eligible after the construction of a building or home on the plot Home loan owners are eligible.

FAQ’s

What is the Plot loan interest rate in the Muthoot Fincorp?

The Muthoot Fincorp Plot Loan starts at 7.00%.

 What is a Muthoot Fincorp Plot Loan?

Muthoot Fincorp plot loan is offered to the salaried and self-employed people who want financial help for purchasing a plot in India, with Muthoot Fincorp Plot Loan the financial help is provided and the borrower can repay the loan according to the bank interest rates.

 How much processing fee is applicable to the Muthoot Fincorp Plot Loan?

Muthoot Fincorp charges up to 0.50%.

 What is the loan tenure of the Muthoot Fincorp Plot Loan?

The Muthoot Fincorp Plot Loan tenure be up to 5 – 20 years.

 How much EMI per Lakh can be fixed on Muthoot Fincorp Plot Loan?

The Muthoot Fincorp Plot Loan EMI per Lakh is ₹ 981.

 How can I avail plot loan from Muthoot Fincorp?

You can avail Muthoot Fincorp Plot Loan after passing the eligibility criteria of the Muthoot Fincorp .

 How to Apply for a Muthoot Fincorp Plot Loan?

Please visit the website of Muthoot Fincorp to understand the application process or you can just call Dialabank at 9878981166.

 How to repay the Muthoot Fincorp Plot Loan earlier than the schedule?

Visit the Muthoot Fincorp website and check if you are eligible for the earlier payment.

 Is it possible to repay my loan earlier than the schedule?

Yes, definitely possible with the Muthoot Fincorp Plot Loan.

 How to check Muthoot Fincorp + Plot Loan eligibility?

Please check the eligibility requirements mentioned on the Dialabank website or the website of the Muthoot Fincorp .

 What is the Muthoot Fincorp Plot Loan phone number?

For a Muthoot Fincorp Plot Loan, you only have to call – 9878981166.

 What is the Muthoot Fincorp Plot Loan interest rate for women?

For women, the Muthoot Fincorp Plot Loan interest rate – 7.05%. 

 What is the Muthoot Fincorp Plot Loan interest rates for salaried individuals?

Muthoot Fincorp Plot Loan interest rate – 7.10%.

 What is the Muthoot Fincorp Plot Loan interest rates for self-employed individuals?

 Muthoot Fincorp Plot Loan interest rate – 7.10%.

 What is Muthoot Fincorp Plot Loan interest rates for self-employed non-professionals?

Muthoot Fincorp Plot Loan interest rate for Self-Employed Non-Professionals – 7.10% – 7.20%.

 How is a plot loan different from a home loan?

Few differences:

  • Tax benefits for Muthoot Fincorp Home loan owners but no tax benefits for Muthoot Fincorp Plot Loan.
  • Usually, the LTV in Muthoot Fincorp Plot Loan is less i.e. up to 70% and Muthoot Fincorp home loans can be 90%.

 Can I take a plot loan along with a home loan?

No, multiple loans are not allowed for Muthoot Fincorp .

 What is the maximum amount that I can take as a loan?

The maximum loan amount is determined by the Muthoot Fincorp after checking your land documents.

 Can a plot loan finance an investment in any plot, anywhere?

Yes, a Muthoot Fincorp Plot Loan can be used to purchase land anywhere in India.

 What is a Balance Transfer on Plot Loan?

Balance Transfer for Muthoot Fincorp Plot Loan helps you lower your EMIs by transferring your remaining loan to other financial institutions to one that offers a lower interest rate.

 Do I get any tax benefits on a plot loan?

Muthoot Fincorp Plot Loan has no tax benefits.

 How many years can I keep the plot of land before starting construction?

For Muthoot Fincorp Plot Loan with Construction please check with Muthoot Fincorp by calling Dialabank at 9878981166.

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