Madhya Pradesh Gramin Bank Plot Loan Features
| Interest Rate | 8.50% p.a |
| Time Period | Up to 10 – 15 years |
| Loan to Value | Up to 80% |
| Processing Fees | Up to 1% of the loan amount |
Eligibility criteria for Madhya Pradesh Gramin Bank Plot Loan
- Age: The age of the applicant needs to be minimum 21 years and maximum it could be up to 65 years.
- Income: The applicant should have an appropriate income.
- Credit Score: The credit score has to be above 650.
Benefits of Madhya Pradesh Gramin Bank Plot Loan
Madhya Pradesh Gramin Bank provides a variety of loans for different customers.- Interest rates are cutthroat and extravagant.
- Least documentation.
- Provides Payment Options and Conditions to Borrowers.
- Simple and quick approval and home loan disbursement.
- 24/7 customer care Madhya Pradesh Gramin Bank provides customer service.
Plot Loan
Madhya Pradesh Gramin Bank plot loan is given to the salaried and self-employed people of Indian residents. Madhya Pradesh Gramin Bank plot loan can be used for buying the plots.
1. Tenure
The Madhya Pradesh Gramin Bank plot loan period is 10 to 15 years.
2. Prepayment charge
Zero prepayment fee is levied by Madhya Pradesh Gramin Bank for the applicants.
3. Loan to Value Ratio (LTV)
The LTV for Madhya Pradesh Gramin Bank is 80%.
4. Tax Benefits
Madhya Pradesh Gramin Bank has zero tax benefits.
Types of Madhya Pradesh Gramin Bank Plot Loan
Madhya Pradesh Gramin Bank Plot loan
It is provided by Madhya Pradesh Gramin Bank for buying a plot as per the applicant’s pick.
Madhya Pradesh Gramin Bank Plot Loan with Construction Loan
Madhya Pradesh Gramin Bank Plot with Construction Loan is no different from the plot loan by Madhya Pradesh Gramin Bank but the person who takes loan for plot is also needs to start construction on the land post the purchase of the land.
Madhya Pradesh Gramin Bank plot loans for self-employed
Type of plot loans self-employed
TruFixed plot Loan – 2 Year Fixed Rate diversify
In TruFixed plot Loan by Madhya Pradesh Gramin Bank, 2 years at the beginning of the term is always is fixed-rate and later is turned into variable-rate.
Adjustable-rate loan
In adjustable-rate loan by Madhya Pradesh Gramin Bank, EMI and the principal loan amount both change after 6 months.
Madhya Pradesh Gramin Bank Interest Rates For self-employed Non – Professionals
Madhya Pradesh Gramin Bank Adjustable Home Plot Loan
| Loan | Plot Loan Interest Rate (%) |
|---|---|
| women (up to 30 lakh) | 7.05 to 7.55 |
| others (up to 30 lakh) | 7.10 to 7.60 |
| women (above 30 lakh) | 7.30 to 7.80 |
| others (above 30 lakh) | 7.35 to 7.85 |
| Women (75.01 Lakhs & Above) | 7.40 to 7.90 |
| Others (75.01 Lakhs & Above) | 7.45 to 7.95 |
| Loan | Plot Loan Interest Rate (%) |
|---|---|
| Women (up to 30 Lakhs) | 7.50 to 8 |
| Others (up to 30 Lakhs) | 7.55 to 8.05 |
| Women (Above 30 Lakhs) | 7.65 to 8.15 |
| Others (Above 30 Lakhs) | 7.70 to 8.20 |
| Women (75.01 Lakhs & Above) | 7.75 to 8.25 |
| Others (75.01 Lakhs & Above) | 7.80 to 8.30 |
Madhya Pradesh Gramin Bank documents required for both self-employed Professionals and Non-Professionals
| Requirements | For Self Employed Individuals |
| Proof of Identity | ID card, PAN Card, Passport |
| Proof of address | Aadhar Card, Electricity/ Mobile Bill |
| Financial proof | – ITR – Business details, Profit and Loss statement from the business. |
| Other Documents | – All the plot documents |
Madhya Pradesh Gramin Bank fees and charges for self-employed
Processing fee
Up to 1%.
Prepayment charges
| Adjustable-Rate Home Loans | – No prepayment needed
– The customer will be asked to provide documents that Madhya Pradesh Gramin Bank finds appropriate and appropriate to verify the source of the loan at the time of the payment. |
| Fixed-Rate Home Loans | – No advance payment is required for any partial/full payment made by your sources i.e, other banks or financial institutions – The customer must submit documents that Madhya Pradesh Gramin Bank finds proper and appropriate to determine the source of funding. |
| Fixed and Variable Rate Loans | During the period of Fixed-Rate: – The client must give documents approved by Madhya Pradesh Gramin Bank to verify the source of the money through the repayment of the loan in advance.
During the Variable Rate: |
The Conversion Fees
| Name of the Service | Name of the charge/fee levied | When payable | Frequency | Amount |
|---|---|---|---|---|
| Switch to a lower rate in Variable Rate Loans | Conversion fees | On conversion | On every spread change | A cap of up to 50% of the original outstanding and the stipulated amount at the time of conversion or whichever is lower is ₹ 50,000,000 tax. |
| Switching to Variable Rate Loan from Fixed Rate Loan | Conversion fees | On conversion | Once | A cap of up to 50% of the original outstanding and the stipulated amount at the time of conversion or whichever is lower is ₹ 50,000,000 tax. |
| Switching from Trufixed Fixed Rate to Variable Rate Loan | Conversion fees | On conversion | Once | 1.75% original arrears and tax in excess of the undisputed amount at the time of conversion. |
| Switch to Lower Rate | Conversion fees | On conversion | On every spread change | Half of the spread difference on principal dues and unspecified amount plus taxes with a minimum fee of 0.5% and a maximum fee of 1.550%. |
| Switch to Lower Rate | Conversion fees | On conversion | On every spread change | 0.5% of tax in excess of the original outstanding and undisputed amount at the time of conversion. |
Cheque dishonor charges
Approximately ₹ 200.
Fees on Account of External opinion
Based upon the kind of help given, backers and charges might be paid straightforwardly to the individual concerned
Property insurance
The customer must be active throughout loan term during by paying the premium.
Statutory/regulatory charges
mod or Moe, Stamp duty to be paid off by applicant.
List of documents
Around ₹ 500
Photocopy of documents
Approximately ₹ 500
Increase/decrease in the loan term
Round about ₹ 500
Disbursement Cheque cancellation charge post disbursement
Around ₹ 200
Re-appraisal of loan
More or less ₹ 2000
PDC swap
Approximately ₹ 200
Madhya Pradesh Gramin Bank for salaried individuals
Who can apply to Madhya Pradesh Gramin Bank for salaried individuals?
| Loan | Maximum Amount(in %) |
|---|---|
| Up to ₹30 lakh | up to 80% |
| ₹ 30.01 lakh to ₹ 75 lakh | up to 80% |
| Over ₹ 75 lakh | up to 75% |
Type of plot loans for salaried individuals
TruFixed plot Loan – 2 Year Fixed Rate change
In TruFixed plot Loan by Madhya Pradesh Gramin Bank, 2 years at the beginning of the term is always is fixed-rate and later is turned into variable-rate.
Adjustable-rate loan
In this loan by Madhya Pradesh Gramin Bank, EMI as well as the principal amount both change after 6 months.
Madhya Pradesh Gramin Bank interest rates for salaried individuals
Adjustable Home Rate Loan
| Loan | Loan Interest Rates (in %) |
|---|---|
| Women (Up to 30 Lakhs) | 7.05 to 7.55 |
| Others (Up to 30 Lakhs) | 7.10 to 7.60 |
| Women (Above 30 Lakhs) | 7.30 to 7.80 |
| Others (Above 30 Lakhs) | 7.35 to 7.85 |
| Women (75.01 Lakhs & Above) | 7.40 to 7.90 |
| Others (75.01 Lakhs & Above) | 7.45 to 7.95 |
TruFixed Loan – 2 Year Fixed Rate Variant
| Loan | Loan Interest Rates (%) |
|---|---|
| For Women (up to 30 Lakhs) | 7.50 to 8 |
| For Others (up to 30 Lakhs) | 7.55 to 8.05 |
| For Women (Above 30 Lakhs) | 7.65 to 8.15 |
| For Others (Above 30 Lakhs) | 7.70 to 8.20 |
| For Women (75.01 Lakhs & Above) | 7.75 to 8.25 |
| For Others (75.01 Lakhs & Above) | 7.80 to 8.30 |
Madhya Pradesh Gramin Bank documents required for salaried individuals
| Requirements | For Salaried Individuals |
| Proof of Identity | PAN Card, Passport |
| Proof of address | Aadhar Card, Electricity/ Mobile Bill |
| Financial proof | – Must have last 6-month salary slips – Credit score |
| Other Documents | – All the plot documents |
Madhya Pradesh Gramin Bank fees and charges for salaried individuals
Processing fees
Up to 1%.
Prepayment charges
| Adjustable-Rate Home Loans | – No prepayment needed
– The applicant will be asked to handover the documents that Bank considers appropriate to verify the source of the loan at the time of the payment. |
| Fixed-Rate Home Loans | – No advance payment is required for any partial/full payment made by your sources i.e, other banks or financial institutions – The customer must submit documents that Madhya Pradesh Gramin Bank thinks appropriate to determine the source of funding. |
| Fixed and Variable Rate Loans | During the period of Fixed-Rate: – The client must submit documents approved by Madhya Pradesh Gramin Bank to verify the source of the money during the repayment of the loan in advance.
During the Variable Rate: |
Conversion fees
| Name of the Service | The charge levied | When payable | Frequency | Amount (in Rs.) |
|---|---|---|---|---|
| Switch to lower rate in Variable Rate Loans | Conversion fees | On conversion | On every spread change | A cap of up to 50% of the original outstanding and the stipulated amount |
| Switching to Variable Rate Loan from Fixed Rate Loan | Conversion fees | On conversion | Once | A cap of up to 50% of the original outstanding and the stipulated amount |
| Switching from Trufixed Rate to Variable Rate Loan | Conversion fees | On conversion | Once | 1.75% original arrears and tax |
| Switching to Lower Rate | Conversion fees | On conversion | On every spread change | A min. fee of 0.5% and a max. fee of 1.550%. |
| Switching to Lower Rate | Conversion fees | On conversion | On every spread change | 0.5% of taxes |
Cheque dishonor charges
Almost ₹ 200.
Fees on Account of External opinion
Subject to the type of support provided, advocates and charges may be paid directly to the person concerned
Property insurance
The client should be active during the advance term by paying the premium.
Statutory/regulatory charges
Mod or Moe, and stamp duty needs to be paid by the applicant respectively.
List of documents
Almost ₹ 500
Photocopy of documents
More or less ₹ 500
Increase/decrease in loan term
Approximately ₹ 500
Disbursement Cheque cancellation charge post disbursement
At most ₹ 200
Re-appraisal of loan
Approximately be ₹2000
PDC swap
Probably ₹ 200
How to apply for Madhya Pradesh Gramin Bank Plot Loan With Dialabank
- For Madhya Pradesh Gramin Bank, Dialabank provides a smooth application process.
- You can do this by guiding to the Dialabank website and proceed accordingly i.e. fill the form on the website and click submit.
- For further details, you can give a call – 9878981144.
Advance tips to get Madhya Pradesh Gramin Bank Plot Loan Easily
- Make sure you have a good history of loans and credits.
- Please provide relevant and genuine documents.
- Cooperate with the experts trying to help you.
Madhya Pradesh Gramin Bank Plot loan with Construction vs Home Loan
| Parameters | Plot Loan with Construction | Regular Home Loan |
| Tenure | Up to 10-15 years | Up to 30 years |
| Prepayment fine | Free | Free |
| Loan to Value (LTV) | up to 80% | up to 90% |
| Plot with Construction Loan interest rates | The rates are similar to a home loan but can go higher. | Start at 6.80%* |
| Tax Benefits | Eligible after the construction of a building or home on the plot | Home loan owners are eligible. |
FAQ’s
✅ What is the Plot loan interest rate in the Madhya Pradesh Gramin Bank?
The Madhya Pradesh Gramin Bank Plot loan interest rate starts at 8.50%.
✅ What is a Madhya Pradesh Gramin Bank?
Madhya Pradesh Gramin Bank plot loan is given to the salaried and self-employed people of Indian nationality, Madhya Pradesh Gramin Bank plot loan is used for purchasing land or a plot in our country.
✅ How much processing fee is applicable to the Madhya Pradesh Gramin Bank?
Madhya Pradesh Gramin Bank charges up to 1%.
✅ What is the loan tenure of the Madhya Pradesh Gramin Bank?
The Madhya Pradesh Gramin Bank Plot Loan tenure be up to 10 – 15 years.
✅ How much EMI per Lakh can be fixed on Madhya Pradesh Gramin Bank?
The Madhya Pradesh Gramin Bank Plot Loan EMI per Lakh is ₹ 744.
✅ How can I avail plot loan from Madhya Pradesh Gramin Bank?
You can avail of Madhya Pradesh Gramin Bank after passing the eligibility criteria of the Madhya Pradesh Gramin Bank.
✅ How to Apply for a Madhya Pradesh Gramin Bank Plot Loan?
Please visit the website of Madhya Pradesh Gramin Bank to understand the application process or you can just call Dialabank at 9878981166.
✅ How to repay the Madhya Pradesh Gramin Bank earlier than the schedule?
Visit the Madhya Pradesh Gramin Bank website and check if you are eligible for the earlier payment.
✅ Is it possible to repay my loan earlier than the schedule?
Yes, definitely possible with the Madhya Pradesh Gramin Bank.
✅ How to check Madhya Pradesh Gramin Bank + Plot Loan eligibility?
Please check the eligibility requirements mentioned on the Dialabank website or the website of the Madhya Pradesh Gramin Bank.
✅ What is the Madhya Pradesh Gramin Bank phone number?
For a Madhya Pradesh Gramin Bank, you will have to call – 9878981166.
✅ What is the Madhya Pradesh Gramin Bank Plot Loan interest rate for women?
For women, the Madhya Pradesh Gramin Bank interest rate 7.05% – 7.20%.
✅ What is the Madhya Pradesh Gramin Bank Plot Loan interest rates for salaried individuals?
Madhya Pradesh Gramin Bank interest rate – 7.10% – 7.20%.
✅ What is the Madhya Pradesh Gramin Bank Plot Loan interest rates for self-employed individuals?
Madhya Pradesh Gramin Bank interest rate – 7.10% – 7.20%.
✅ What are Madhya Pradesh Gramin Bank’s interest rates for self-employed non-professionals?
Madhya Pradesh Gramin Bank Plot Loan interest rate for Self-Employed Non-Professionals – 7.10% – 7.20%.
✅ What is the difference between a Plot Loan and a Home Loan?
Few differences:
- Tax benefits for Madhya Pradesh Gramin Bank Home loan owners but no tax benefits for Madhya Pradesh Gramin Bank.
- Normally, the LTV in Madhya Pradesh Gramin Bank plot loan is less i.e. up to 70% and Madhya Pradesh Gramin Bank home loans can be 90%.
✅ Can I take a plot loan along with a home loan?
No, multiple loans are not allowed for Madhya Pradesh Gramin Bank.
✅ What is the total amount that I can withdraw as a loan?
The maximum loan amount is determined by the Madhya Pradesh Gramin Bank after checking your land documents.
✅ Can a plot loan can be invested in any plot, anywhere?
Yes, a Madhya Pradesh Gramin Bank Plot Loan can be used to purchase land anywhere in India.
✅ What is a Balance Transfer on Plot Loan?
Balance Transfer for Madhya Pradesh Gramin Bank helps you lower your EMIs by transferring your remaining loan to other financial institutions to one that offers a lower interest rate.
✅ Is there any tax benefits on a plot loan?
Madhya Pradesh Gramin Bank Plot Loan has no tax benefits.
✅ How many years can I keep the plot of land before starting construction?
For Madhya Pradesh Gramin Bank with Construction please check with the Madhya Pradesh Gramin Bank by calling Dialabank at 9878981166.
