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  • MDC, 1st Floor, Azad market, Pirmuhani Chowk, Kadamkuan, Near Uma Cinema, Patna, Bihar, 800003

Loan Application Form

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Fast, easy and convenient – a loan for your all needs

Avail MDC loan to meet any financial requirement, be it for funding your Business requirement, Home Construction, Personal Expense, or any unplanned expenses.

Types of Loan

Personal Loan Home Loan Mortgage Loan Business Loan Doctor Loan Subsidized Loan
Quick disbursal Seamless loan process Attractive interest rates
Get money credited in your account. From application and assessment to disbursal and repayment, every step is smooth and hassle-free. MDC offers loans at attractive interest rates to fulfill your dreams.

Personal Loan

A personal loan is an unsecured loan that can be used for various personal expenses, such as:

Benefits:

1. Flexibility: Can be used for various purposes.

2. Quick approval: Often faster processing and disbursement.

3. No collateral: No need to pledge assets.

    Things to Consider:

  1. 1. Interest Rates: Can be higher than secured loans
  2. 2. Repayment Terms: Typically 1-5 years.
  3. 3. Fees: May include processing fees, late payment fees.

Uses of Personal Loans:

  • 1. Wedding expenses
  • 2. Medical emergencies
  • 3. Home renovations
  • 4. Debt consolidation
  • 5. Travel

Home loans

Home loans are designed to help individuals purchase or construct a home. Here are some key aspects:

Types of Home Loans:

1. Purchase Loan: For buying a ready-to-move-in property.

2. Construction Loan: For building a home from scratch.

3. Home Improvement Loan: For renovating or upgrading an existing property.

    Factors to Consider:

  1. 1. Interest Rates: Fixed or floating rates.
  2. 2. Loan Tenure: Repayment period, typically 10-30 years.
  3. 3. Down Payment: Percentage of purchase price paid upfront.
  4. 4. EMI: Equated Monthly Installment.

Benefits:

  • 1. Tax Benefits: Deductions on interest and principal payments.
  • 2. Affordable Housing: Enables individuals to own a home.

Mortgage Loan

A mortgage loan is a type of loan where property is used as collateral. Here's an overview:

Types of Mortgage Loans:

1. Home Mortgage: For purchasing or constructing a residential property

2. Commercial Mortgage: : For purchasing or refinancing commercial property.

    Key Components:

  1. 1.Loan-to-Value (LTV) Ratio: Percentage of property value financed.
  2. 2. Interest Rates: Fixed or floating rates.
  3. 3. Repayment Terms: Loan tenure and repayment schedule.

Benefits:

  • 1. Property Ownership: Enables individuals or businesses to own property.
  • 2. Tax Benefits: Potential tax deductions on interest payments.

Things to Consider:

  • 1. Collateral Risk: Property can be seized if loan defaults occur.
  • 2. Interest Rate Risks: Floating rates can increase EMI burden.

Business Loans

Business loans provide financing for various business needs, such as:

Types of Business Loans:

1. Working Capital Loan: For short-term funding needs, like inventory or payroll.

2. Term Loan: For long-term funding needs, like expansion or equipment purchase.

3. Business Line of Credit: A revolving credit line for flexible funding.

    Benefits:

  1. 1. Growth Financing: Enables businesses to expand, modernize, or diversify.
  2. 2. Cash Flow Management: Helps manage working capital and cash flow.

Things to Consider:

  • 1. Interest Rates: Vary based on lender, loan type, and creditworthiness.
  • 2. Repayment Terms: Can be short-term or long-term, depending on loan type.
  • 3. Collateral: May be required for secured loans.

Doctor Loan

A doctor loan, also known as a medical professional loan, is designed for doctors, dentists, and other medical professionals. These loans often have favorable terms, such as:

Benefits:

1. Lower interest rates: Compared to standard personal loans.

2. Higher loan amounts: Based on profession and income potential.

3. Flexible repayment: Options may include longer tenures or moratorium periods.

    Eligibility:

  1. 1. Medical degree and registration
  2. 2. Stable income or practice

Uses:

  • 1. Setting up a clinic or practice
  • 2. Purchasing medical equipment
  • 3. Funding education or specialization

Subsidized Loans

Subsidized loans are loans where the interest or part of the interest is paid by a third party, often the government or an organization. This reduces the borrower's financial burden.

Types of Subsidized Loans:

1. Education Loans: Government-sponsored loans for students.

2. Agricultural Loans: Subsidized loans for farmers.

3. Business Loans: Subsidized loans for Business.

Benefits::

  • 1. Lower interest burden: Reduced interest rates or interest subsidies.
  • 2. Increased affordability: Makes borrowing more accessible.
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