Manipur Rural Bank Home Loan Interest Rate at 8.60% to 9.90%
INTEREST RATE | 8.60% to 9.90% |
LOAN TENURE | 30 Years |
PROCESSING FEE | As decided by the bank from time to time |
GUARANTOR REQUIRED | Please Contact Bank Branch |
PRE CLOSURE CHARGES | As per bank's discretion |
Calculate Manipur Rural Bank Home Loan EMI Calculate EMI Now
About Manipur Rural Bank
Manipur Rural Bank is a gramin bank in india established on 28-05-1981. It has headquarter in Imphal and address is Keishampat Keisham Leikai, Imphal - 795 001, Manipur . it has 30 branches across the state.
It provides all the financial services to its customers like saving deposit, fixed deposit, recurring deposit, loans, personal loans, netbanking, RTGS, NEFT, IMPS, Atal Pension Yojana, Pradhan Mantri Jandhan Yojana, Pradhan Mantri Suraksha Bima Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana and many more.
Manipur Rural Bank Home Loan Interest Rates, Housing Loan at and 8.60% to 9.90% Updated on February 2024. Apply for Home Loan Online. Find Manipur Rural Bank Home loan purpos, Eligibility, Margin, Repayment of Home Loan ,Security, Document Required for Home Loan from below.
Why Manipur Rural Bank Home Loan?
- Manipur Rural Bank provides a range of Home Loan Schemes designed for different needs of customers
- Interest Rate is very competitive and affordable
- Minimal Documentation
- It provides Flexible Repayment Options to the borrowers
- Easy and fast approval & disbursal of home loans
- Has dedicated team of well-experienced employees which also offer personalised service
- 24/7 customer care service of Manipur Rural Bank offers timely assistance to the customers
Manipur Rural Bank Home Loan Purpose
- For construction of house/ flat
- For purchase of built house/flat
- For purchase of under construction house/flat from Housing Boards/ Development Authorities/ Co-operative Societies/ Approved Private Builders/ Projects
- For carrying out Additions to the house/flat
- For carrying out repairs/ renovation / alterations/ cost of furnishing to the house/flat
- For meeting cost escalation in the cases of under-construction flats to existing Housing Loan borrowers
- For purchase of land/plot for house building
Manipur Rural Bank Home Loan Eligibility
- The applicant must be an Indian citizen or a fully documented NRI. He, essentially, must be a Person of Indian Origin (PIO).
- The applicant's age must be in the range of 18 years and 70 years at the time of loan maturity.
- The applicant must be salaried or self-employed with a regular income.
- The applicant must earn more than the minimum required income.
Manipur Rural Bank Home Loan Document Required
- Duly filled and signed application form with photograph
- Identity Proof- Aadhar Card, PAN Card, Passport, Driving License, Voter id card, ID-card issued by Government
- Address Proof - Aadhar Card, Passport, Driving License, Voter id card, Electricity/ Telephone/ Post-Paid Mobile bill, Bank statement
- Age Proof - Passport, Birth Certificate, PAN card, Driving License, Voter id card, Employee ID card (only for PSU/ Government employees), School/ College leaving certificate
- Form 16
- Latest 6 months salary slips for salaried persons
- Bank Statement of last 6 months
- Income Tax Returns (ITR) of last 3 years
- Last 3 years CA Certified or Audited Balance Sheet and Profit & Loss Account
- Processing fee Cheque
- Copies of the title documents of the property and the approved plan
- For Construction/ Renovation case, cost estimate from the Architect
Tax Benefits of availing Manipur Rural Bank Home Loan
There are two types of tax benefits associated with home loan for Resident Indians:
Repayment of the Principal Amount: One can get a Tax rebate under section 80C of the Income Tax Act on whole amount repaid by him in a financial year, maximum upto Rs. 1,50,000/- each financial year (Increased from 1 Lakh to Rs. 1.5 Lakh in Budget 2014).
Repayment of the Interest on Home Loan: Tax Benefit on Home Loan for payment of Interest is allowed as a deduction under Section 24(1) of the Income Tax Act. One is eligible for a Tax Rebate of maximum of Rs. 2 lakh per financial year for home loan interest paid by him/her during that financial year.
Manipur Rural Bank Home Loan Repayment
Maximum 30 yearsSecurity
Equitable|registered mortgage of the property.Where mortgage cannot be created immediately in situations like house|flat is being purchased|allotted by the Housing Board, Development Authorities or Co-operative Society|Builder, and title|conveyance deed are executed in favour of purchaser only after completion of construction & possession| making full payment of the cost of house|flat, a stamped Tripartite Agreement be executed amongst Housing Board|Development Authority|Co-operative Society| Builder, the intending borrower and the Bank before release of the loan.In Case of Prepayment of Manipur Rural Bank Home Loan, will EMI change?
One can pre-pay Manipur Rural Bank Home Loan without any prepayment charges as it allows prepayment at nil charges in case of floating rate home loans. If the borrower makes a prepayment, the outstanding balance of principal amount of his home loan reduces. Then in that case he has following 2 options:
- He can continue with the existing and reduce the loan tenure
- He can reduce the EMI and keep the loan tenure the same
Out of above 2 options, first option is more beneficial for the borrower as he pay less interest to the bank as the pay off home loan will be faster.
How to reduce your Home Loan EMI?
- Negotiate with your banker on lower interest rate
- Apply for longer tenure
- Give maximum amount as down payment
- Pre-pay loan amount
- Switch to another bank/ FI offering lower interest rate
Contact details of Manipur Rural Bank, Manipur Rural Bank SMS balance check number SMS banking, Manipur Rural Bank mobile banking, Manipur Rural Bank toll free number,Manipur Rural Bank toll free number 24*7, Manipur Rural Bank miss call number.
- CUSTOMER CARE NUMBERS - 0385-2451590
- CONTACT NUMBERS - 0385-2451590
Manipur Rural Bank Contact Details
- BANK OFFICIAL WEBSITE - https://www.manipurruralbank.com
- CONTACT NUMBERS - 0385-2451590
- EMAIL ID - [email protected], [email protected]
- CUSTOMER CARE NO. - 0385-2451590
- TOTAL BRANCHES - 30
- HEADQUARTER - Imphal
- BANK ADDRESS - Keishampat Keisham Leikai, Imphal - 795 001, Manipur
Manipur Rural Bank Home Loan FAQs Home Loan Document Required