Home Loan in Mumbai: Overview
Mumbai is the financial capital of India and has seen a rise in employment opportunities. Known for its diverse real estate market, from bustling commercial hubs to serene residential enclaves, the city offers promising investment opportunities. Investing in Mumbai's real estate not only ensures appreciable returns but also positions you in the heart of modern conveniences and robust infrastructure.
If you are planning to avail of a Home Loan in Mumbai, whether to live or simply as an investment, make the most of our longer repayment tenor and competitive Home Loan interest rates starting at 8.50%* p.a. for salaried applicants.
Home Loan in Mumbai: Features and Benefits
Easy Balance Transfer Facility
Borrowers can transfer their Home Loan balance to us and enjoy better lending terms including competitive interest rates and other benefits.
Sizeable Top-Up Loan
When you opt for a Home Loan Balance Transfer with Bajaj Housing Finance, you get the option to avail of a Top-up Loan of Rs.1 Crore* at a competitive interest rate, basis eligibility. These funds can be used to meet any housing expenses.
Flexible Tenor
Bajaj Housing Finance gives borrowers the option to repay their loan over a long repayment tenor of up to 40 years, ensuring manageable EMIs and a comfortable repayment process.
Part-prepayment and Foreclosure Facility
Individual borrowers can avail of a Home Loan on floating interest rates and enjoy zero part-prepayment and foreclosure charges.
Online Home Loan Calculators
A Home Loan is a long-term financial commitment. You can use our online calculators to figure out the right loan amount for you, understand your EMI obligation and plan repayments in advance.
Minimal Documentation
Our document requirements are minimal, which makes way for an easy application procedure as well as easy approval.
Online Account Management
Access your loan account details, make payments, and do much more anytime and from anywhere through our customer portal.
Quick Processing
After submitting the Home Loan application, you can expect a call from our representatives in 24 hours*. Post document submission, verification, and approval the loan amount will be disbursed within 48 Hours*.
Integrated Branch Network
Do not want to make an application online or have any queries? Walk into one of our branches near your home and talk to one of our representatives for personalised assistance with your application.
Competitive Interest Rate of 8.50%* p.a.
Our attractive interest rates start from 8.50%* p.a. for salaried applicants. With EMIs starting at Rs.733/Lakh* you can repay your loan conveniently.
Eligibility Criteria for a Home Loan in Mumbai
Our easy-to-meet eligibility criteria for salaried and self-employed applicants are:
For Salaried Individuals
- You should be an Indian citizen (including NRIs).
- You should be between 23 and 75 years**.
- You should be able to show at least 3 years of work experience.
For Self-Employed Individuals
- You should be an Indian (resident only) between the age of 25 and 70 years**.
- You should be able to showcase steady income from a business with a vintage of at least 5 years.
**The upper age limit is considered as the age at the time of loan maturity. Additionally, the upper age limit for applicants is subject to change, depending on the property profile.
Documents Required for a Housing Loan in Mumbai
These are the documents you should keep handy if you are planning to apply for a Home Loan in Mumbai:
- KYC documents, such as Aadhaar Card, PAN Card, Passport, ration Card, and Utility Bills. Note that PAN Card or Form 60 are mandatory documents.
- Passport-size photographs
- Form 16/latest salary slips in the case of salaried individuals
- ITR Document/P&L Statement in the case of self-employed individuals
- Document for proof of business, with a minimum of 5 years of vintage (for businessmen/self-employed individuals only)
Please note that this is only an indicative list. During the time of loan processing, additional documents may be required. These requirements will be communicated to you.
How to Apply for a Home Loan in Mumbai?
Applying for a Home Loan in Mumbai is simple and straightforward. Follow these steps to make a housing loan application with Bajaj Housing Finance:
- Visit our website and open our Home Loan application form.
- Select the type of loan you want and your employment type.
- Enter your personal and income details.
- Generate OTP to validate your mobile number.
- Enter the details required on the next page and complete the application form.
- Click ‘Submit’ to submit the form.
Once you have applied, someone from our team will get in touch with you and explain the steps ahead. Alternatively, you can also walk into one of our branches near your home and make an application in person.
*Terms and conditions apply.
Home Loan in Mumbai: FAQs
Bajaj Housing Finance offers a Home Loan in Mumbai at competitive interest rate starting at 8.50%* p.a. for salaried applicants.
When you apply for the Bajaj Housing Finance Home Loan, you enjoy quick disbursal in 48 Hours* post document verification and approval. If you wish to apply for a Home Loan in Mumbai, meeting our eligibility criteria and providing all the required documents can speed up the process of approval.
No, you do not need to provide any additional security or collateral to apply for a housing loan in Mumbai. The property that you wish to purchase itself acts as a collateral.
