Loan against Property FAQs

A Loan against Property is a secured loan availed against a commercial or residential property kept as collateral with the lender. As the funds come with no end usage restriction, borrowers can utilise the funds for various purposes such as business expansion, wedding, child’s education, etc.

Check out these features of a Loan against Property from Manjira Finance

  • LTV( of the Property Loan is 75% – 90% of the current market value of the mortgaged property.
  • Comes with flexible repayment tenure up to 42 months
  • Funds up to Rs. 3.5 Crore are available
  • Simple and easy-to-meet eligibility criteria

Know property loan tax benefits and how to get a Property Loan in details before applying for one.

A Loan against Property is a convenient option to finance all high-end expenditures for business or personal purposes. You can mortgage various Loan against Property types as collateral to avail funds of up to Rs. 3.5 Crore.

Following are some of the collateral variants lenders consider with their Mortgage Loan product types:

  1. Self-occupied residential property, including house, apartment, flat, etc.
  2. Rented residential properties are also accepted as Property Loan types.
  3. Commercial property such as an office building, shops, malls, complexes, etc.
  4. A plot of land under your ownership is accepted as one of the Mortgage Loan types.

A Loan against Property from Manjira finance comes with a host of features and benefits including prepayment facility. If you are thinking what mortgage loan prepayment is, well, it signifies paying off a certain part of the principal amount over and above the EMIs.

To part prepay, pay an amount that is equal to or more than 1 EMI. Complete the process at zero prepayment charges.

Benefits of Prepayment

  • Reduces the outstanding principal.
  • Lowers either the EMIs or the loan tenure.
  • Frees you from debts quickly.

Contact Manjira finance to understand Mortgage Loan meaning and how you can best benefit from it. Meet the Loan against Property eligibility and apply successfully.

When taking a Loan against Property, it is essential to insure the property being mortgaged. The insurance cover should cover damages caused by fire and such calamities and must be valid throughout the loan tenure.
Every borrower must submit a proof of the insurance policy annually or when needed. The reason why you need a mortgage loan insurance policy is the approval of your application. You can also enjoy the benefit of loan mortgage insurance tax-deductible.

Secured Business Loan FAQs

Secured business loans require collateral to be provided in the form of a security. A secured loan for small business needs a company asset like property, equipment or land to be offered as security in case of default. The interest rates are lower and the tenure is longer. It is a good way to help expand your business.

Secured business loans are the most economical way to secure working capital, buy equipment or scale up operations for a business. You also unlock the monetary value of your asset in the process.

  • In the event that you are unable to obtain an unsecured loan and you have a business owned asset you can pledge, a collateral business loan is the best option.
  • Secured business loans in India are safe for the lender given the prevailing tightened lending norms. We are secure and can in some cases overlook personal guarantees.
  • The interest rate is lower on the secured business loans in India.
  • The tenure offered is also longer than what you would get for unsecured loans.

Secured business loans can be availed by proprietorship, partnership, limited Liability companies having sound credentials. All that you need to do is contact our branch for a representative visit. The eligibility criteria for secured loan for small business need to be fulfilled and the asset offered needs to be verified to initiate the process. The asset under consideration, savings, invoices, inventory and any blanket Lien is considered. Once the due diligence is done, you can avail the loan.

An applicant can qualify for a Business Loan by meeting the following criteria:

  • Minimum 3 years of business vintage
  • Applicant’s age to be within 25 to 60 years
  • IT returns filed for at least the previous 3 years
  • A healthy CIBIL score and strong credit profile

CIBIL score of 750 is considered healthy to avail a business loan. The closer your score is to 900, higher are your chances of getting the loan on good terms.

Secured business loans are offered with collateral offered by the loan seeker. This collateral can be liquidated if the loan goes into default mode. The risk in offering a collateral business loan is low, so we can offer lower rates of interest. Once the loan is granted, you pay an EMI which comprises of a part of the principal amount, interest and applicable taxes as per the loan schedule.

Small businesses are often managed by family and the structure of the business is largely informal. Currently, we offer secured loan for small business. This loan is easier to procure as it carries lower risk. The rates of interest for a secured business loan are lower as compared to unsecured business loan, and you can opt for a longer tenure.

Yes, you need to provide a collateral for our secured business loans. The collateral has to be in the ownership of the directors (if the entity is a private limited company) or the partners/proprietors (if the entity is a firm) or the business itself. The asset should be clear and the deed discrepancy free in the name of the borrower. Collateral business loans are cheaper and carry lower risk. Contact our customer care representative for further details. 

The collateral business loan requires you to pledge assets like house property, land. The asset should be free and the deed should be in the name of the borrower. You can contact our branch to know more and get clarity on the type of collateral before you apply for a secured loan.

Yes, the collateral has to be more or at least equal to the loan amount of the collateral business loan amount. Get an appraiser to judge the value of the collateral you want to pledge – your house property, land or equipment. Before you apply for the secured business loan online, contact our customer care representative to help you understand the loan amount you can apply for basis the value of your collateral.

Contact our branch to know more details.

Personal Loan FAQs

At Manjira finance, a personal Loan is a secured loan, which means you need to pledge a collateral to receive the funds. Availing one is easy – you can apply by contacting our branch and you can use the money to meet almost any expense.

Manjira finance offers instant personal loans with fast approval and quick disbursal.

Where can a personal loan be used?

It can help you meet a wide range of financial requirements, such as:

  • Medical emergency
  • Home renovation
  • Higher education
  • Debt consolidation
  • Travel
  • Wedding

To avail a loan, you will need to submit the following documents:

  • Passport-size photographs
  • KYC Documents – PAN, Aadhaar, Driving license, Voter’s ID, Passport
  • Bank account statements for last six months
  • Salary Certificate for an Employee
  • Form 16
  • IT Returns (Latest 2 years)

To avail a quick personal loan, you only need to meet the basic eligibility criteria.

  • You must be a residing citizen of India
  • Aged between 23 and 55 years
  • Employed with an MNC, public or private company


You can use the handy personal loan EMI calculator to determine your monthly instalments.

The ideal CIBIL score to get instant approval on Manjira finance Personal Loans is 750 and above.

You can borrow money up to Rs.1 Cr by pledging any collateral worth more than this amount

Manjira finance offers personal loans with a range of attractive benefits including:

  • Fast approval
  • Minimal documentation
  • Money in bank within 24 hours*
  • Flexible tenors
  • No Pre-payment charges
  • Zero Processing charges
  • No hidden charges


Cumulative as well as Non-Cumulative schemes are available for deposits.

In a ‘Non- Cumulative scheme’ the interest is payable on periodic basis. In ‘’Cumulative deposit scheme’, the interest is payable at the time of maturity along with the principal.

We have Monthly/Quarterly option for payment of interest.

The interest is directly credited to the bank account via NEFT (National Electronic Fund Transfer)

In a Non-cumulative scheme the interest will be credited on the Last day of every month in case of Monthly, Last day of March/June/September and December in case of Quarterly.

The first interest will be paid on the last day of the month in which the FD is processed E.g. If the customer has initiated the FD on 20th March and has requested for a monthly interest, the same will be paid on the subsequent month end that is 31st March.

You can open a fixed deposit with the Company for a minimum tenure of 12 months to maximum tenure of 42 months.

The amount can be tendered by means of A/c payee Cheque/DD issued in favor of MANJIRA FINANCE PRIVATE LIMITED.


Yes. You can make a deposit in the name of minor provided such minor is represented by his natural or legal guardian and the Application Form for the deposit is signed by the natural/Legal Guardian, on behalf of the minor. All communication in relation to the deposit shall be addressed to the guardian.

Through nomination facility, the depositor may nominate a person to whom the Company has to pay the deposit amount in case of death of the depositor. For availing this facility, you should fill the nomination details in the appropriate space provided in the application form.

You need to send Address proof along with Address/Contact Change Request Letter in prescribed format to our branch. On receipt of the details, the changes will be updated in our records within 7 working days.

Customer would need to submit a duly signed application for the same. Along with the application form, a valid ID proof copy, a personalized cancelled cheque (with name printed) is to be submitted. If cheque is not personalized, then bank account statement is needed.

There will be absolutely no changes for the existing deposits as we are obliged to pay the contracted rate till its maturity as per the current rules.

The revised rates will apply only to fresh deposits and renewals made on or after the date from which the new rates are applicable.

If the estimated annual interest paid/credited or likely to be credited/paid on the deposit/s exceeds or is likely to exceed ₹5,000 /- during the financial year (i.e. year 2019-20), it is obligatory on the part of the deductor of tax to deduct income tax at source. However, to avoid such deduction of Tax, the investors can furnish self-declaration in Form 15G/H or by submitting the Exemption certificate from the respective Income Tax Authority for every financial year.

TDS certificate in Form 16A will be generated by the company from the TDS Centralized Processing Cell portal website of TDS Reconciliation Analysis and Correction Enabling System ((“TRACES”) and the same will be authenticated by means of digital signature. TDS certificate in Form 16A are generated quarterly on the basis of details provided in the quarterly TDS statement filed by the deductor of Tax in TIN (Tax Information Network).

For the tax deducted at source, tax deduction certificates in the prescribed Form 16A giving details of the tax remitted to the Govt. etc. will be sent on quarterly basis if the deposit is under quarterly scheme, half -yearly basis for deposit under half yearly scheme and at the end of the year in case of Yearly scheme and cumulative deposits.

The address printed on the TDS certificate will be the address registered with Income Tax Department at the time when you had made an application for PAN. If your current communication address is different from the address given for PAN card application then please change the address through NSDL or UTIITSL.


The prematurity payment norms are as under:

Upto 6 months from the date of deposit/ renewal

No interest*

After 6 months but before the date of maturity

The interest payable shall be 1% lower than the interest rate applicable to a deposit for the period for which the deposit has run or if no rate has been specified for that period, then 3% lower than the minimum rate at which deposits are accepted by the company*

*The above rates are also applicable for premature repayment in the case of death of a depositor

As per the provisions of income tax, every person receiving any sum or income from which tax would be deducted should furnish his PAN to the person deducting the tax. Please note if PAN is not furnished then form 15G/H or any other Exemption Certificate submitted will be invalid and tax will be deducted at the higher rate as applicable.

In the absence of PAN, no credit of the tax deducted shall be available in Form 26AS on the NSDL website. Also if PAN is not submitted, no TDS certificate will be generated from TIN website for the tax deducted by the company.

No. Deposit will be paid back only to the corresponding bank account updated in the records of MFPL

Yes. The payment can be sent directly to the depositor’s bank.

Subject to the FD scheme being open, the deposit may be renewed on maturity by submitting a duly filled fresh FD Application Form. It is necessary that the fresh FD Application Form should be submitted along with the duly discharged old FD receipt with revenue stamp of requisite value. The renewal will be subject to the terms and conditions of the FD scheme as applicable on the maturity date of the old deposit.

No. FD is Non-transferable.

Loan may be granted against Deposit up to 70% of the deposit amount. Loan will be given to any depositor who has live FD in our company which is more than 3 months old .The FDR will be marked with lien against the release of the loan. However, granting of loan will be at the sole discretion of the company. No loan will be granted against Minor.

The Loan interest rate is two percent points above the interest rate payable on the deposit.

In the event of loss of the Fixed Deposit Receipt / Interest warrant, the Company should be immediately informed about the loss. The Company may issue a duplicate Fixed Deposit Receipt / Interest warrant, subject to non-encashment of the original instrument, upon receipt from the depositor a ‘letter of loss of instrument’ and an Indemnity Bond in the prescribed form to its satisfaction and after compliance with such other formalities as may be required by the company.

Disputes, if any, arising in connection with MFPL FDs, will be subject to jurisdiction of Court at city of Hyderabad.

No. Though the fixed deposits of the Company are within its regulatory framework, RBI does not undertake any responsibility for the repayment of deposits/discharge of liabilities by the company. The depositor is advised to satisfy himself about the financial position and all relevant aspects before placing his deposit.

An attested copy of Death certificate, Term Deposit Receipts, Will or testamentary disposition, if any, or an attested copy of Legal Heirship Certificate issued by a Tahsildar /corporations.