What is a Mortgage Loan?

A mortgage loan is a secured loan taken to purchase or renovate a residential or commercial property. The property itself acts as collateral for the loan. Mortgage loans generally offer lower interest rates and longer repayment tenures compared to unsecured loans.

Benefits of Mortgage Loans

• Lower interest rates due to secured loan
• Longer repayment tenure up to 30 years
• Flexible EMI options
• Tax benefits on principal and interest paid
• Helps build home ownership and equity

Eligibility Criteria

• Age between 21 and 65 years
• Stable income with proof of employment or business
• Good credit score and repayment history
• Property documents for collateral
• Valid identity and address proof

Application Process

• Fill out the online mortgage loan application form
• Submit property and personal documents for verification
• Loan eligibility assessment and credit check
• Sanction and agreement signing
• Disbursal of funds and start repayment as per schedule