Compare Home Loan Interest Rate Offered by Various Banks & HFCs in Mumbai
Name of Lender | Up to 30 Lakh | Above 30 Lakh & up to 75 Lakh | Above 75 Lakh |
SBI Home Loan | 7.55-8.55 | 7.55-8.45 | 7.55-8.45 |
HDFC | 7.55-8.75 | 7.55-9.00 | 7.55-9.10 |
Axis Bank | 7.60-12.50 | 7.60-12.50 | 7.60-8.05 |
ICICI Bank | 7.60-8.20 | 7.60-8.35 | 7.60-8.45 |
Kotak Mahindra Bank | 7.50 onwards | 7.50 onwards | 7.50 onwards |
PNB Housing Finance | 7.50–16.75 | 7.50–16.75 | 7.60–10.70 |
Punjab National Bank | 7.45-8.85 | 7.40-8.55 | 7.40-8.50 |
Bank of Baroda | 7.45-8.95 | 7.45-8.95 | 7.45-9.20 |
Union Bank of India | 7.40- 9.15 | 7.40- 9.15 | 7.40- 9.35 |
IDFC First Bank | 7.50 onwards | 7.50 onwards | 7.50 onwards |
L&T Housing Finance | 7.20-8.20 | 7.20-8.20 | 7.20-8.20 |
Bajaj Housing Finance | 7.20 onwards | 7.20 onwards | 7.20 onwards |
Godrej Housing Finance | 7.49-10.99 | 7.49-10.99 | 7.49-10.99 |
Tata Capital | 7.75 onwards | 7.75 onwards | 7.75 onwards |
LIC Housing Finance | 7.50-8.60 | 7.50-8.80 | 7.50-9.00 |
Note: Interest rates offered by banks, NBFCs/ HFCs are subject to change as per RBI’s directives and lenders’ discretion.

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Home Loan Features
- Home Loan interest rates usually start @ 7.05% p.a.
- Tenures are quite flexible and may range up to 30 years
- LTV ratio is up to 90% of property value
- The banks/NBFCs also offer home loan balance transfer of existing home loans from other banks/NBFCs to some other bank at lower interest rates
- Top-ups on existing home loans are also provided to existing home loan borrowers
- Overdraft facility is available for existing home loan borrowers
- Banks/NBFCs also offer pre-approved instant home loans to select customers
- Pradhan Mantri Awas Yojna offers “Affordable housing for all” with interest subsidy of up to Rs 2.76 lakh
- Pre-payment charges are usually NIL for floating rates of interest
Income Requirements of Home Loan in Mumbai
For Salaried Applicants: At least Rs 15,000 p.m.
Eligibility Criteria of Home Loans in Mumbai
- Job Profile: Salaried (government employees and corporate professionals)/Self-Employed Professional (Doctors, lawyers, CA, CS, engineer, architect, consultant)/Self-Employed Non-Professional (Trader, contractor, commission agent)
- Age: Minimum- 21 years; Maximum- Up to 70 years at the time of loan maturity
- Nationality: Indian Resident, NRI, PIO
- Credit Score: CIBIL/Credit score should be 750 and above for increased chances of availing home loan and at lower interest rates
- Work experience: For Salaried- At least 3 years of work experience
- For Self-Employed– At least 3 years of business continuity

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Documents Required for Home Loans in Mumbai
For Salaried Applicants
- KYC documents: PAN card, passport, voter ID, Aadhaar card, driving license
- Income Proof: Salary slips for last 3 months, Bank statement for past 6 months with salary credits, ITR/Form-16
- Property documents
- Bank statement showing repayment history
- Processing fee cheque
- Employment contract
- Own contribution proof
Additional Documents for Self-Employed Applicants
- Income Proof: ITR with income computation for past 3 years
- Balance sheet and profit & loss account statement for last 3 years
- Last 6 months savings account statement of the individual and current account statement of business entity
- Business profile
- Latest Form 26AS
- Memorandum and Articles of Association of the company