Here's a Quick Look At The Best Home Loan Interest Rates In Mumbai. Here's Everything You Need To Know About Home Loans In Mumbai.Click to Apply Home Loan
|Lender||Home Loan Interest Rates In Mumbai||Processing Fees & Charges||Maximum Loan Amount||Maximum Loan Tenure|
|Aavas Financier Limited Home Loan||8%||2%||-||30 Years|
|Aditya Birla Capital Home Loan||9% - 12.50%||1%||10 Crores||30 Years|
|Andhra Bank Home Loan||8.15% - 9.20%||0.50% or ₹15000 + GST (whichever is lower)||-||30 Years|
|Axis Bank Home Loan||8.75% - 14%||1%||10 Crores||30 Years|
|Bank of Baroda Home Loan||8.50% - 10.60%||0.25%- 0.50%||10 Crores||30 Years|
|Bank of India Home Loan||7.80% - 9.65%||-||7.50 Crores||30 Years|
|Bank of Maharashtra Home Loan||8.40%||0.25% or 25,000 (whichever is lower)||1 Crore||30 Years|
|Canara Bank Home Loan||8.85%- 11.25%||₹1,500 - ₹10,000||3 Crores||30 Years|
|Central Bank of India Home Loan||8.45% - 9.20%||0.50% or ₹20,000 + GST (whichever of lower)||75 Lakhs||30 Years|
|DBS Home Loan||8.25% - 9.75%||-||5 Crores||25 Years|
|Dena Bank Home Loan||8.25% - 8.35%||0.50%||1.5 Crores||30 Years|
|Dhanalakshmi Bank Home Loan||7.2%||1% or ₹10,00 + GST (whichever is higher)||1 Crore||30 Years|
|DHFL Home Loan||8.75%||-||5 Crore||30 Years|
|Federal Bank Home Loan||10.15% - 10.30%||-||15 Crores||30 Years|
|HDFC Ltd. Home Loan||8.50% - 9.60%||0.50% or ₹3000 (whichever is higher)||10 Crores||30 Years|
|IDBI Bank Home Loan||8.75% - 11.45%||-||10 Crore||30 Years|
|IDFC First Bank Home Loan||8% - 14%||3%||10 Crores||30 Years|
|Indiabulls Home Loan||8.75%||1%||2 Crores||30 Years|
|Indian Overseas Bank Home Loan||9.55%||-||-||30 Years|
|India Shelter Finance Corporation Home Loan||13% - 20%||2% - 3% + GST||50 Lakhs||20 Years|
|Jammu and Kashmir Bank Home Loan||8%||0.25% + GST||50 Lakhs||30 Years|
|Karnataka Bank Home Loan||9.08% - 10.38%||0.50% - 2%||5 Crores||30 Years|
|Karur Vysya Bank Home Loan||9.23% - 12.13%||₹2500 - ₹7500 + GST||-||25 Years|
|Kotak Mahindra Bank Home Loan||8.85% - 9.40%||0.50%||10 Crores||20 Years|
|LIC HFL Home Loan||8.70%||0.30% onwards||10 Crores||30 Years|
|PNB Housing Home Loan||8.50% - 10.85%||-||2 Crores||30 Years|
|Reliance Home Finance Limited Home Loan||9.35% - 13%||0.50% - 1.50%||-||20 Years|
|South Indian Bank Home Loan||7.95% - 9.60%||0.50% + GST||15 Crores||30 Years|
|State Bank of India Home Loan||9.55%||₹2000 - ₹10000 + GST||5 Crores||30 Years|
|Sundaram Home Finance Ltd Home Loan||6.95% - 8.30%||0.50%||4 Crores||25 Years|
|Tamilnad Mercantile Bank Home Loan||9.10% - 9.60%||0.50%||5 Crores||30 Years|
|Tata Capital Limited Home Loan||8.95%||2%||5 Crores||30 Years|
|Union Bank Home Loan||8.75%||0.50% or ₹15000 + GST (whichever is lower)||-||30 Years|
|Yes Bank Home Loan||9.15% - 11.25%||1.5% - ₹10000 (whichever is higher)||10 crores||35 Years|
To be eligible for a home loan in Mumbai, applicants need to meet the following criteria:
You will need the following documents to apply for a home loan in Mumbai:
|KYC Documents||Aadhaar card, PAN card, passport, and voter ID card|
|Proof of Income||Salary slips, income tax returns, Form 16, and bank statements|
|Property-related Documents||Property registration papers, property tax receipts, and NOC from the builder or society|
|Proof of Employment||Offer letter, appointment letter, and employment contract|
|Others||Passport-size photographs, loan application form, and declaration of assets and liabilities|
It is important to note that the exact documents required may vary depending on the lender and the loan amount.
Home loans offer a number of tax benefits to the borrower. Here are the key tax benefits of home loans in Mumbai:
NOTE: Tax benefits are subject to changes in tax laws and regulations. Borrowers are advised to consult a tax expert for detailed information on the tax benefits of home loans.
Here are the leading locations in Mumbai for home purchases along with some supporting information:
Bandra : This upscale neighborhood is a favorite among young professionals and celebrities alike. It offers a mix of old-world charm and modern amenities, with trendy restaurants, boutiques, and cafes.
Andheri : Andheri is one of the most sought-after residential areas in Mumbai. It is home to some of the city's largest malls, entertainment centers, and corporate offices. Andheri has excellent connectivity to other parts of the city via road, rail, and metro.
Powai : This is a picturesque suburban neighborhood located on the banks of Powai Lake. It has excellent infrastructure, including reputed educational institutions, hospitals, and shopping centers. Powai also has a thriving startup ecosystem and is home to some of the best restaurants and cafes in Mumbai.
Chembur : Chembur is a well-connected residential neighborhood in Mumbai. It is known for its green cover and offers excellent connectivity to other parts of the city. Chembur has a mix of old and new buildings, and the real estate prices are relatively affordable compared to other upscale areas in Mumbai.
Thane : Thane is a rapidly developing suburb of Mumbai, located just outside the city limits. It offers a peaceful living environment and a wide range of housing options. Thane is well-connected to Mumbai via the Eastern Express Highway and the Central Railway line. It has excellent social infrastructure, including reputed schools, hospitals, and shopping centers.