Loan comparison of Dewan Housing Finance Corporation Ltd. Home Loan vs Mahindra & Mahindra Financial Services Limited Home Loan

Interest Rate

8.75% onwards per annum
11.5% onwards per annum

Loan Amount

* Up to 90% of the cost of the chosen selected property * Up to Rs. 30 Lakh (depends upon the loan amount requirement)
Up to 85% of project cost

Loan Tenure

Up to 25 to 30 years
Up to 10 to 20 Years

Loan Processing fees

* For Salaried/Self Employed Professional (SEP): 0.5% + Applicable GST * For Self Employed Non Professional (SENP): Net PAT: 0.5% + Applicable GST * Others : 1.0% + Applicable GST
1.75% - 3.5% of Sanction amount

EMI per Lakh

Rs. 787 Per Lakh
Rs. 1406 Per Lakh

Part Payment Charges

* If Borrower/ co-borrower is Individual: No Charges * If Borrower/ co-borrower is other than Individual: 2% + Applicable GST
N/A

Minimum Income

A person whose income is considered; Rs. 10,000- Rs. 25,000 per month and above
Consistency and regularity in the income; Rs. 10,000- Rs. 25,000 per month and above

Documents

* PAN card/Valid Passport/Voter ID card/Driving license/Aadhar Card/Utility Bill: Electricity, Telephone, Postpaid mobile, water bill etc./Ration card/Letter from employer/Bank statement /copy of Passbook reflecting address/Valid Rent Agreement/Sale Deed 

Income Documents for Salaried Individuals:

* Salary slips for the last 2 months or salary certificate/Cash Salary – Income details on Company Letterhead/Copy of bank statements for the past 3 months (salary account) 

Income Documents for Self-Employed Professional:

* Certificate of qualification for professionals: CA, Doctors or Architects/Copy of last two years’ income tax returns, along with computation of income/Copy of last two years’ P/L account with all schedules and audited balance sheet/VAT or Service Tax returns or TDS Certificate/Bank statement for the last 6 months (Savings account, current account and O/D account) Property Documents:

* Allotment letter from builder/Agreement of Sale/Registration and stamp duty receipt/Index- ii/NOC from builder/Own Contribution Receipt (OCR )/Development Agreement/Tripartite Agreement/Partnership Deed/Sale Deed/Title Search Report/NA order

* Duly filled application form

* Passport size photographs

* Proof of Identity such as PAN Card, Aadhaar Card, Passport, Voter’s ID Card, Driving License, Voter’s ID Card, etc.

* Proof of Residence such as Aadhaar Card, Passport, Voter’s ID Card, Driving License, Utility Bills, Voter’s ID Card, etc.

* Property Documents such as Agreement of Sale, Ownership Deed, House Tax Receipt, Power of Attorney, etc.


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