Magma Housing Finance

Magma Housing Finance is best suited to meet the needs of home loans for the informal sector.

Magma Housing Finance Product & Features

There are several products that you can avail under Magma Home Loan. Some of the loans you can opt for are -

• Residential, Commercial & Plot collateral security.
• Personal & business purposes through Loan against Property.

Features

• Wide Home Loan tenures ranging from 1 to 20 years
• Magma Housing Finance also provide Project Finance for Developers

Magma Housing Finance Interest Rates & Charges

Magma Housing Finance Interest Rates, charges and fees are divided into Foreclosure charges and Processing Fees

Foreclosure Charges under Magma Home Finance Interest Rates

• NIL for all Floating Rate Home Loans
• Specified in the Loan agreement for Loan Against Property & Fixed Rate Home Loans and as applicable from time to time
  Or As per Terms & conditions specified by NHB from time to time.
• Varies from client to client and depends on factors like market interest rates, Credit Evaluations etc.

Processing Charges under Magma Home Finance Interest Rates

• NIL for all Floating Rate Home Loans
• As applicable from time to time, specified in the Loan agreement for Loan Against Property & Fixed Rate Home Loans.
• Or As per Terms & conditions specified by NHB from time to time.Varies from client to client and depends on factors like market interest rates, Credit Evaluations etc.

Magma Housing Finance Eligibility

Magma Housing Finance eligibility is divided into the following two categories

• All Individuals, Proprietor, Partner, Partnership Entity, Corporate-entity
• Developers making Residential projects / Townships
• Salaried Individuals and/or business-owners of the following segments :
• Manufacturers
• Service providers
• Traders & Retailers
• Self Employed Professionals
• Entrepreneurs

Magma Housing Finance Documents:

All valid KYC documents in the name of the borrowers are a prerequisite while processing a home loan from Magma Housing Finance. The list of documents you will require are given below:

• Continuity of income with requisite stability norms
• Clear banking and loan repayment history
• Legal and technical clearance of the property-collateral
• Positive checks and references