Home Loan in Mumbai – Compare Interest Rate starting from 8.35% with fast approval March 2019

 

(Updated On 19.03.19) Home Loan In Mumbai and EMI Calculator March 2019 – Compare Interest Rates from top 20 Banks & NBFCs and get quotes on home loan on the basis of ✓ Interest Rate ✓ Eligibility ✓ Loan Tenure ✓ Processing Fee & more.

Home Loan In Mumbai – Instant Quotes Online

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Home Loan In Mumbai

Mumbai, one of the largest city of India and also called as the commercial hub of India, who holds a population of nearly 20 million people. People usually move to Mumbai for better career and future. But, everyone doesn’t earn the same amount and buying a home on your own is not that easy in Mumbai. So, there are many banks in Mumbai who provides home loans, according to an individual need. An individual can choose the best home loan from various banks, according to his/her requirement. As different banks have different policies and different methods of providing home loan, so it’s difficult to choose from, which bank an individual should apply for home loan.

But, now you don’t have to look here and there for home loan. Because, here at loansninsurances.com we have arranged the list of banks according to their interest rates, charges and home loan products.

Home Loan in Mumbai Interest Rate

Different bank provides different home loan interest rates according to their policy. Some banks provide home loan at lower interest rates and some at higher interest rates. An individual can choose the bank for home loan according to his choice and requirement. List of top banks is as follows:

Bank Name Interest Rates
Bank of Baroda 8.35% – 8.55%
Central Bank of India 8.50%
DHFL 8.60% – 8.70%
SBI – State Bank Of India 8.35% – (For Women), 8.40% – 8.70% (For Others)
HDFC Ltd 8.35% – 8.50%
ICICI Bank 8.35% – 8.50%
Allahabad Bank 8.85%
Andhra Bank 9.50% – 9.70%
AXIS Bank 8.35%
Bank of India 8.65% – 8.70%
Bank of Maharashtra 8.95% – 9.05%
Canara Bank 8.65% – 8.75%
Citibank 8.80%
Corporation Bank 8.85%
Dena Bank 8.55% – 8.80%
Deutsche Bank 10.50%
Development Credit Bank 10.60%
Dhanalakshmi Bank 10.35% – 10.60%
Edelweiss 10.50%%
Federal Bank 9.57% – 9.82%
GIC Housing Finance 10.25%
Gruh Finance Limited 9.75% – 15.25%
HSBC Bank 8.85%
IDBI 8.55% – 8.60%
India Infoline Housing Finance Ltd. 9.55% – 10.50%
Indiabulls Housing Finance Limited 8.65%(For Women) – 8.70%(For others)
Indian Bank 8.60%
Indian Overseas Bank 8.65% – 8.90%
Indusind bank 10.60%
Karnataka Bank 9.50% – 9.75%
Kotak Bank 8.75%
L&T Housing Finance 9.65% – 10.25% (for Salaried/ SEP) 9.65%-10.50%(SENP)
LIC Housing 8.50% – 8.70%
Oriental Bank of Commerce 8.60% – 8.70%
PNB Housing Finance 8.50% (for Salaried/ SEP for first 12 Months) 9.10% (For SENP for first 12 months)
Punjab National Bank 8.65% – 8.75%
Reliance Home Finance Private Ltd. 10.60%
Shriram housing finance 15.00%
Shubham Housing Development Finance Company 12%-14%(For Salaried) – 15%-17%(For Self-employed)
Standard Chartered 9.35%
State Bank of Travancore 9.20% – 9.45%
Syndicate Bank 8.75%
Tata capital Housing Finance ltd 8.65%(For Women) – 8.90%(For Others)
UCO Bank 8.75% – 8.90%
Union Bank of India 8.75% – 8.80%
United Bank of India 8.80%
Vijaya Bank 8.90%
SRG Housing Finance 15% to 30%

Home Loan Mumbai EMI Calculator

Home Loan Mumbai EMI Calculator

Fill Loan Amount, Interest rate & Tenure in Fields & get Instant Calculation for Home loan emi within seconds.
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Interest Rate (Reducing) % Per Annum
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Flat Interest Rate PA
Flat Interest Rate PM
Total Interest Amount
Yearly Interest Amount

Home Loan In Mumbai Features

  • Home loan can be availed for the purchase, construction, renovation and extension of a house.

  • Processing fee of Home loan is usually up to 0.50% of the loan amount.

  • Maximum loan amount that can be availed on a home loan is up to 90% of the cost of the property.

  • Prepayment charges on home loan are Nil in most of the banks.

  • Tenure of home loan is up to 30 years in most of the banks.

  • Home loans comes at both fixed and floating interest rates. Choose one according to your requirements.

Home Loan in Mumbai Eligibility Criteria

Bank Name

Age

Income

Maximum Loan

Guarantor Required

BT option

Work experience

SBI Bank

18-70 years

Min. 10,000 p.m

Up to 90% cost of property

Yes

Yes

Not required

HDFC Ltd

21-60 years

Min. 15,000 p.m

Up to 80% cost of property

No

Yes

Not required

ICICI Bank

18-60 years

Min. 15,000 p.m

80% cost of property

No

Yes

Not required

Axis Bank

21 years

Min. 10,000 p.m

Up to 80%

No

Yes

Not required

CITI Bank

Minimum age should be 23 years

NA

Up to 10 crore

Yes

Yes

Up to 2 years

DHFL Bank

Minimum age should be 21 years

Min. 15,000 p.m.

Up to 5 crore

No

Yes

2 years

LIC HFC

18-60 years

1,80,000 p.a

80% of cost of property

Yes

Yes

2 year

Bank of Baroda

21-60 years

Upto 20,000 p.m

Up to 80% of cost of property

No

Yes

Not required

IDBI Bank

Min. Age should be 22 years

Min. 15,000 p.m

10 crore

Yes

Yes

2 years

HSBC Bank

21-58 years

5 lacs p.a

Up to 10 crore

No

Yes

Not required

Standard Chartered

21-60 years

1,80,000 p.a

Up to 80% of cost of property

No

Yes

1 year

Home Loan In Mumbai Documents Required

For salaried person

For self-employed

Application form with photograph

Application form with photograph

KYC documents

KYC documents

Form 16(ITR)

Form 16(ITR)

Last 3 months salary slip

Residence Proof

Last 6 months bank statements

Last 6 months bank statements

Residence Proof

Proof of business existence

 

Last 2 years profit/loss statements

 

Last 3 years income tax returns

Home Loan in Mumbai on Approved Projects

Builder’s Name Project Name
A R Construction Kaleendee, Saraswati, Tulsi
Aashray Group Pearl, Aashray Pearl
Ameya Developers Vaishnavi Heights
Bharat Infrastructure Bharat optimus, Park vistas, Sky Vistas
Bombay Construction Sahil Exotica
Conwood Reality Conwood Astoria
Deepjyoti Infra Developers Neelkanth Residency, Platinum Residency
Dhanashree Builders Archana Chs, Dhanashree Prathama
Fairmont Construction Fairmont Moksh, Reyhaan Terraces
Hubtown Celeste, Hubtown Celeste, Hubtown Sunmist, Viranda
Satyam Developers Prem Pride, Satyam Exotica, Satyam Majestic, Satyam Pride
Starlight System Signature Island, Signia Isles, Signia Pearl
Wadhwa Estate Amar Jiwan, Om Niwas, Parwana Apartment, Tirupati Grande

FAQs:

1) What is Lenders Mortgage Insurance (LMI)?

  • Lenders Mortgage Insurance is an insurance policy which covers your lender against loan defaults. Which means if one cannot pay home loan on time then their lender is compensated by an insurer to protect them from financial loss.

2) Are there tax benefits on taking a home loan?

  • Residents of India are eligible for certain tax benefits on the principal amount, under Indian income tax act 1961.

3) What is an overdraft account?

  • With an overdraft account, bank first asks for a security and then assign a credit limit on the basis of the market value of that property. So, when we use this credit limit, the amount goes from zero to negative zone and at time of repaying, it goes from negative to zero. Interest is to be paid by us to bank on an overdraft account.

4) What is a split rate?

  • A split rate gives borrowers the option to split their loan into two parts, with one part at floating rate and other at a fixed rate.

5) What is MCLR?

  • MCLR (Marginal cost of funds based lending rate), it is the rate below which the bank doesn’t provide loans to customers.

Home Loan in Mumbai – Bank Branch, Contact Address

State Bank of India – List of Branches
Jaihind Estate No.2-b, Dr.atmaram Merchant Rd. Bhuleshwar, Mumbai
Lbs Marg Kurla,ground Floor Lbs Marg,kurla West Mumbai,distmumbai400070
Mumbai (thane-nashik) Zone -iv, Madhuli Building, Shivsagar Estate, Dr. A.b.road, Worli, Mumbai. Maharashtra- 400 018
Santacruz West,mayfair Building,tagore Road,santacruz W,mumbai 400054
Sbi Midc Building, Midc Andheri Plot No. B -1, Andheri (east), Mumbai – 400093
Bank of Baroda- List of Branches
Shop No 1 To 4,gr Flr, Yash Residency,plot No 6, Sector 6, Navi Mumbai,maharashtra-400 708
18-a 19 20 Byculla, House Clare Road, Mumbai – 400008
Kandivali(w) Branch,s.v. Road, Kandivli (w),mumbai,400067
Kandivli-est Branch,a.chakravarty Road,ashok Nagar,kandivali(e),mumbai,400101
Vashi Branch,big Splash, Sector 17, Vashi,navi Mumbai,400703
V554, Lal Bahadur Shastri Marg, Nirmal Nagar, Salpa Devi Pada, Mulund West, Mumbai, Maharashtra 400080 1800 22 3344
Bank Of Maharashtra- List of Branches
Navbharat Vidyalaya St Xavier Street Parel Bhoiwada Mumbai 400012
A Wing, Ground Floor,mittal Court,nariman Point, Mumbai 400 021
Jo Grazel Building, Holy Cross Road, I.c. Colony, Borivli (west), Mumbai 400103
153,sunrays Building,sion, Mumbai 400022
Shivshakti Complex,opp Badvaik Hospital Bldg.,agra Road,l.b.s.marg,bhandup (west) Mumbai- 400078
Apeejay House,130, Dr. V.b. Gandhi Marg,fort, Mumbai 400 023
Nana Chambers Opp Sidharth Motors Pune Mumbai Road Kasarwadi Pune 411034
Bussa Udhyog Bhavan Prem Coop Soc Ltd Sewree West Mumbai 400015
Mungekar Apartments, Plot No 14 A, Main Aarey Road, Peru Baugh, Goregaon East, Mumbai 400063
Ready Money Terrace, Dr Anne Beasant Road, Worli Mumbai 400018
Punjab National Bank- List of Branches
130, S V Road, Andheri West, Mumbai, Maharashtra – 400058
Kalaba Devi Road, Mumbai, Maharashtra – 400002
Dr. Annie Besant Road, Worli Naka, Mumbai, Maharashtra-400018
35, Laxmi Sadan, Datar Colony, Vs Marg, Bhandup (east), Mumbai, Maharashtra- 400042
33, Daryasthan Street, Mandvi, Mumbai, Maharashtra -400003
Bank of India- List of Branches
Altamount Road,eastman House,2-669 Altamount Road,mumbai(bombay),india,400026,maharashtra
C P Tank,chandaramji Girls High,school Bldg C P Tank,mumbai(bombay),india,400004,maharashtra
Kandivali,88 Dr Dalvi Road,kandivilli West,mumbai(bombay),india,400067,maharashtra
Powai,paradise, `e Wing,uni,raheja Vihar,chandivli,mumbai,400070,maharashtra
Malad (west),swami Vivekanand Road,post Box No. 7603,mumbai,400064,maharashtra
Mumbai Service,free Press House 2ndfl,nariman Point,mumbai(bombay),india,400021,maharashtra
Dena Bank- List of Branches
133,s.v.road, New Fountain Head Society, Mumbai-400 052
Sadhana,daftary Road,malad East,mumbai-400 064
Chamunda Chs,plot 265,sector 1,rdp – 4,kandivli (west, Mumbai-400067
Jagdamba House,anupam Cinema,station Road,goregoan(east),mumbai-400063
Anik Chambers, Ramkrishna Ch.marg, Trombay, Mumbai – 400074.
Central Bank of India- List of Branches
Lala Lajpat Marg, Haji Ali, Mumbai-400034
142, Abdul Rehman Street, Mumbai
Shiv Chhaya CHS Ltd., Andheri ( E ), Mumbai-400 069
Ballard Estate Marshall Building Ballard Road Mumbai-1
Shree Sai Ashish Apartment, Plot #368, S. V. Road, Bandra ( W ), Mumbai 400 050
Union Bank of India- List of Branches
Bhagat Mansion, 176/180, Abdul Rehman Street, Mumbai-400 003.
64, Halin Manzil, Morland Road, Mumbai-400 008, Maharashtra
Mayani Manor, Sir M. V. Road, Andheri ( East ), Mumbai-400 069.
28-A, Hill Road, Bandra, P. B. #6661, Bandra ( West ), Mumbai-400 050

HDFC Bank > 1St Floor, Express Loan Centre, Above Hdfc Bank Kamala Mills Branch,, Senapati Bapat Marg, Lower Parel, Mumbai, 400013

Citibank > 322, West View Building, Linking Road, Khar (West),, Mumbai, Maharashtra 400052

Lic Housing Finance > N G Suncity Phase-1, Kandivali East, Kandivali East, Mumbai, Maharashtra 400101

HSBC Bank > Shiv Building, 6th Floor, Plot No 139, Garware Chowk, Western Express Highway, Sahar Road Junction,Vile Parle East Mumbai, Maharashtra India

Axis Bank >  229, DK Sandhu Marg, Chembur Gaothan, Kurla East, Mumbai, Maharashtra 400071

Ing Vysya Bank > Shop No. 1 and 101, Accord Nidhi, Mlalad Link Road, Malad Wast, Malad West, Mumbai

Standard Chartered Bank > Center Point, Junction Of Juhu Road & Sv Road, Santacruz West, Mumbai, Maharashtra 400054

ICICI Bank > ICICI Bank Apartments, College St, Dadar West, Dadar, Mumbai, Maharashtra 400028

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