Home Loan in Navi
Mumbai

Looking to buy a dream home in the Navi Mumbai region but not sure where to get started? Allow us to help. Navi Mumbai is home to numerous top banks and NBFCs (most of which are partnered with BASIC Home Loan) offering rates of interest starting at 8.60% for a maximum loan duration of 30 years. Home loan in Navi Mumbai is generally offered with flexible EMI repayment options and a 100% paperless application process, i.e., online, right from the comfort of your home.

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

Loan Amount

₹

₹ 30 Lac₹ 6 Cr

Interest Rate (% P.A.)

5%30%

Loan Tenure (yrs)

1 yrs30 yrs

Monthly EMI₹77,530

Total Interest₹86,07,174

Total payable amount₹1,86,07,174

46%

54%

Principal

Interest

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

Loan Amount

₹

₹ 30 Lac₹ 6 Cr

Interest Rate (% P.A.)

5%30%

Loan Tenure (yrs)

1 yrs30 yrs

Monthly EMI₹77,530

Total Interest₹86,07,174

Total payable amount₹1,86,07,174

46%

54%

Principal

Interest

Home Loan Interest Rates in Navi Mumbai

The interest rates offered by a lender is one of the most important factors to consider when applying for a home loan. The table below shows the home loan interest rate in Navi Mumbai offered by at least 10 banks and NBFCs (BASIC partners) in the region:

BASIC Bank/NBFC Partner Name	Max Tenure (in years)	Rate of Interest	Processing Fees (INR)
HDFC	30 years	8.70% - 9.75%	Rs. 3,540 - 0.25%
SBI	30 years	8.75% - 9.75%	Rs. 10,000 - 0.25%
Aavas Financiers	25 years	13.00% - 17.00%	Minimum 1.00%
IDFC First Bank	30 years	8.85% - 10.75%	0.25% - 0.50%
PNB Housing	30 years	8.75% - 11.95%	Rs. 10,000 - 0.50%
Fedbank	30	10.15% - 10.30%	Rs. 20,000
Bajaj Housing	40	8.50%	Up to 7% of the loan amount + GST
Tata Capital Ltd.	30	8.95% onwards	0.25% of the loan amount (Max: Rs. 3,540)

Eligibility Criteria for Home Loans in Navi Mumbai

Salaried Individuals

Citizenship

Indian

Professional Experience

3 years and above

Age

23-62 Years

Monthly Income

Starting at Rs 10,000 per month

CIBIL Score

750 (preferred)

Self-Employed Individuals

Citizenship

Indian

Professional Experience

Business continuity of 3 years and above

Age

25-70 Years

Monthly Income

Starting at 1.8 lakh per annum

CIBIL Score

750 (preferred)

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.

Document Requirement for Home Loans in Navi Mumbai

Each bank or NBFC in Navi Mumbai would ask you to submit a set of pre-defined documents as part of your home loan application process. For your reference, we have listed below the exact home loan documents required in Navi Mumbai banks at the time of applying for a home loan:

Proof of income such as Form 16 or salary slips from the previous 3-6 months
Recent photographs (passport-sized and duly signed)
ID proof such as a passport, Aadhaar card, PAN card, or Voter’s ID (any one of these)
Cheque for home loan processing fee
Residential proof such as a Rental Agreement, Voter’s ID, Utility Bill, or Aadhaar Card (any one of these)
Property Documents proving the purchase
Proof of age such as School Certificate, Birth Certificate, Voter’s ID (any one of these)
Proof of Employment such as a Salary Statement or Letter of Appointment

Documents for Registration of Business (if so asked)
Passport-size photographs (duly signed)
ID proof (any one) - Passport, Aadhaar Card, PAN Card, Voter’s ID
Cheque for Processing Fee
Residence Proof - Rent Agreement, Voter’s ID, Utility Bill, Aadhaar Card (any one)
Property Documents (in case property already bought)
Proof of Age - School Certificate, Birth Certificate, Voter’s ID (any one)
ITR for the previous 3 years
Bank statement for previous 3-6 months

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