Tamilnad Mercantile Bank Finance Bank Home Loan

Why Go With Tamilnad Mercantile Bank?

Local Roots, Global Thinking: TMB knows India well but keeps up with world standards. That makes it a great choice for different people who want to borrow money, whether they're in India or another country.

Good Home Loan Rates: TMB’s rates are some of the best. If you have a top credit score, you can start at 8.50%. They're clear about how they set those rates, comparing them to other rates out there.

• Pick Your Rate: You can go with a rate that stays the same, one that changes, or one that has a limit.
• Lots of Options: They cover everything from smaller, cheaper homes to fancy properties, with loans up to ₹5 crore.
• Fast Approval: You can often get your loan approved in just 7–10 business days because they've made the paperwork simple.
• No Early Payoff Fee: If you want to pay off your loan early, you don't have to pay a penalty if you have a floating-rate loan.
• Pay it Back Over Time: You have up to 30 years to pay back your loan, which works for people with different incomes.
• Help When You Need It: You'll have people at the bank who can guide you at every step.

Tamilnad Mercantile Bank Home Loan Choices

Tamilnad Mercantile Bank has different home loan options:

Home Purchase Loan: For buying new or used apartments or houses.

Home Construction Loan: For building a house on land you own, with the money given to you as you create.

Land + Build Loan: Get money to buy land and build a house on it.

Home Fix-Up Loan: For fixing, improving, or adding onto your home.

NRI Home Loan: Made for Indians living in other countries who want to buy or build a home in India.

Move Your Loan/Get Extra Cash: Move your loan from another bank with high rates or get more money on top of your current loan.

Cheaper Home Loans: Loans with lower rates through government programs.

Tamilnad Mercantile Bank Home Loan Processing Fees and Eligibility Criteria

• Fees: Expect to pay 0.25%–0.50% of the loan, plus GST. This can be around ₹2,000–₹25,000+, give or take, depending on the details.
• Early Payoff: No extra charge if your rate changes with the market. If you have a fixed rate, there might be something.

• You need to be an Indian citizen or an NRI (with someone who can apply with you).
• Need to be between 21 and 70 years old (when the loan ends).
• Working a job, running a business, or retired with money coming in regularly.
• A decent credit score is good (700+ can get you better rates).
• You need to be able to pay back the loan based on how the Bank sees it.

What You Will Need to Apply with Tamilnad Mercantile Bank

Application: Filled out and signed.

• ID: Like your Aadhaar, PAN, or Passport.
• Where You Live: A bill or bank statement will work.
• Income Info: Payslips from the last few months, tax info, and bank statements.
• Property Stuff: Deed, approved blueprints, ownership papers, tax payments.
• Proof of Age: Passport or birth certificate.
• Other Things: A check for the fee, photos, and a permission slip if needed.
• If You ARE an NRI: Passport, visa, and proof of income from abroad.

Tytil Realty makes sure everything is in order so your approval goes faster.

How to Get a Home Loan from Tamilnad Mercantile Bank with Tytil

• Chat with an Expert: Talk to someone at Tytil to figure out what you need and how much you can borrow.
• Get Your Papers Ready: Tytil can help you gather all the right documents.
• Apply: Tytil can submit your application and keep tabs on it.
• Get the Money: Once approved, Tytil makes sure things go smoothly when you sign and get the funds.