Home Loans in
Mumbai
Several banks and NBFCs in Mumbai offer home loans at affordable rates of interest and flexible EMI repayment options. Home loans in Mumbai can be availed for up to 30 years, and borrowers can also get certain tax benefits. For the borrower's benefit, Mumbai banks also provide the option of interbank home loan balance transfer to avail lower interest rates. Special home loan plans are available to make housing affordable for rural loan applicants.
Home Loan EMI Calculator
Your Monthly EMI
₹ 77,530
Total Principal
₹ 1,00,00,000
Total Interest
₹ 86,07,174
Total Payable
₹ 1,86,07,174
Home Loan Interest Rates in Mumbai
Many aspire to own a home in the bustling metropolis of Mumbai. And to realize the dream of prospective homebuyers, the banks and NBFCs in Mumbai offer accessible and attractive home loan facilities. These financial institutions provide home loans at competitive rates of interest, accommodating EMIs, and extended loan tenure. Home loan rates in Mumbai range from 8% - 17% p.a., offered by several top lenders in the city.
| BASIC Bank/NBFC Partner Name | Max Tenure (in years) | Rate of Interest | Processing Fees (INR) | Contact |
|---|---|---|---|---|
 PNB Housing Finance Limited | 30 | 8.75% - 11.95% | 10,000 to 0.50% | |
 Bajaj Finserv | 30 | 8.60% - 13% | 0.30% to 1% | |
 L&T Finance Home Loans | 30 | 8.75% - 10.30% | 10,000 | |
 Fedbank | 30 | 10.15% - 10.30% | 20,000 | |
 IDFC First Bank | 30 | 8.85% - 10.75% | 0.25% to 0.50% | |
 Aavas | 25 | 13.00% - 17% | Min. 1.00% | |
 ICICI Bank | 30 | 9.25% - 9.85% | 0.30% | |
 HDFC Bank | 30 | 8.70% - 9.75% | 3,540 to 0.25% |
Eligibility Criteria for Home Loans in Mumbai
These criteria are subject to variation from one bank to another. It is recommended that you check with the specific bank you are applying to for a home loan for its eligibility requirements.
Documents Required for Home Loans in Mumbai
In addition to meeting the specified criteria to apply for a home loan in Mumbai, loan applicants must also submit a set of defined documents to the bank at the time of application. While each bank may have a different list of documents required for submission, some standard documents that applicants must be ready with at the time of loan application are mentioned below for your reference:
|
|
| Proof Of Residency | Aadhaar Card, Valid Passport |
| Proof Of Income | Bank Passbook, Bank statement, Last 3 years IT Return |
| Proof Of Age | PAN Card, Voter ID, Birth Certificate, Registration Certificate Of Establishment |
| Proof Of Employment | Certified Letter from Employee/Company Memorandum |
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