Magma Housing Finance FAQs

What are Magma’s home & home equity loans all about?

At Magma, we understand the unique needs of the low & middle income housing-segments where end-users are keen to own their own home. We provide localized processing of your proposals, to facilitate property purchase. With competitive home loan interest rates, multiple product options and a team of dedicated professionals bringing our services to your doorstep.

What are the different types of home & home equity loans we provide?

For construction & purchase of a property
For acquiring a plot to construct a house
For re-sale, renovation/Home Improvement & Extension of an existing house
For balance-transfer & top-up of an existing Loan from a few specified Lenders
For personal as well as for business-purpose, Loan Against Property is available

What is the loan process?

Step 1: Submit loan application with all required documents for KYC, Income, Property title and Valuation.
Step 2: Official visits for Filed Investigation, Personal Discussion & Tele-verification
Step 3: After clearance of all queries related to Income, Property Title and valuation,the sanction decision is made
Step 4: Submission of all requisite Documents for Disbursal, post verification the Disbursal is made, depending on the Loan type.

All key internal processes are handled by a dedicated and knowledgeable in-house team to ensure your application is given due attention and to maintain the highest level of confidentiality.

How do I apply?

Leave your contact details in the Contact Form
Write to us at Contact Us
Visit any of our branches Branch Network

Is there a pre-payment option for your product?

Yes. You can prepay the loan, subject to terms & conditions specified and as per guidelines stipulated by NHB from time to time.

What is the maximum loan I can borrow?

Loan amount is subject to income and valuation of Property.

What are my tenure options?

You can choose tenure options between 12 months to 240 months.

Can I get a Home & Home Equity Loan without a bank account?

No, You would need to show a bank statement for the past 6 months.