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Longer Repayment Tenure Upto 30 Years.
Processing Fees Offers-Money Savings Unique Offers.
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Interest rates starting from 6.75%*p.a.
Interest rate concessions for women borrowers
Instant e-approvals for home loans
Online sanction facility. Apply For Online Sanction
Bank Name |
Best Home Loan Rates Mumbai |
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6.85% p.a. - 8.05% p.a. |
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6.75% p.a. - 7.85% p.a. |
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6.90% p.a. - 8.90% p.a. |
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6.85% p.a. - 8.45% p.a. |
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6.90% p.a. - 8.90% p.a. |
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6.95% p.a. - 10.95% p.a. |
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6.85% p.a. - 8.70% p.a. |
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6.85% p.a. - 8.25% p.a. |
Note: Interest rates are subject to change without prior notice.
Owning a home of own is a dream for every person. Bank loan is usually taken when one cannot afford to pay the full price of a house. Banks and other financial institutions offer home loans to people who meet the required eligibility.
We do not charge you, we provide free services.
Enjoy Low ROI For Home Loan
Longer Repayment Tenure Upto 30 Years.
Processing Fees Offers-Money Savings Unique Offers.
No Hidden Cost. Safe & Secure.
The eligibility criteria are related to your age, income, past repayment history and the cost & location of the property. Lender Banks/NBFCs/HFCs have different criteria or specifications for calculating your eligibility such as, your work experience, no. of dependents, spouse’s income, income stability, employment continuity, your assets, liabilities, etc. They normally lend up-to 65%-70% of the monthly income as a home loan subject to your obligation. The eligibility criteria vary across the lenders, home loan schemes, FOIR & LTV % & CIBIL score requirement. However, you must be minimum 21 years and have a regular flow of legal income to apply for a home loan in Mumbai.
Find below the minimum eligibility required for home loan in Mumbai:
Criteria |
Salaried |
Self-Employed |
Age |
21 years to 60 years |
21 years to 70 years |
Nationality |
Indian resident, NRI & PIO |
Indian resident, NRI & PIO |
Income |
Minimum Rs.2 Lakhs p.a. |
Minimum Rs.4 Lakhs p.a. |
Processing Fees |
Rs. 5900/- to 0.50% on the loan amount. |
Legal & Technical Cost |
Rs.5900/- to Rs.10,000/- |
Stamp Duty Cost |
0.30% on the loan amount. |
GST |
18% applicable on all loan charges. |
Chartered Accountant - copy of COP & passing certificate.
Doctor - copy of degree certificate.
Lowest home loan interest rates in Mumbai starting from 6.75%*p.a.
Home loan top up loans in Mumbai available at the lowest home loan rates Mumbai.
Pre-approved offers for eligible loan borrowers.
Fixed as well as floating interest rates available.
Get income tax benefits for principal and interest paid up-to Rs.1.5 Lakhs & 2 Lakhs.
Park the excess funds and save on the interest cost with smart home loans in Mumbai.
Avail home loans with overdraft facilities.
Cheaper balance transfer of home loan in Mumbai.
Avail pre-sanction home loan even before finalizing the property.
Home loan interest rates matter as more than 50% of your home loan EMI amount is the interest you pay back to the lender Banks/NBFCs- Non-Banking Financial Institutions/HFC-housing finance companies in Mumbai. If you are paying higher home loan rates on your existing home loan, you may shift to a new lender with low home loan interest rates. When you switch your loan, you have the option to either alter your tenure or the equated monthly instalments. With housing loan balance transfer in Mumbai you can save money in thousands and lakhs.
Avail a top up loan on your existing home loan to meet your various personal and professional needs for funds. Top-up is an instant loan and is the most popular way of funding your immediate need for funds. Top ups can be applied with minimal documentation and are speedily disbursed. Get a top-up loan at home loan interest rates.
You can use the home loans for tax savings only when the property construction is completed. The tax benefits on home loans can be claimed as under:
For Principal Amount Repayment - Under Section 80C of the Income Tax Act for the maximum tax deduction of up-to Rs.1.5 Lakhs p.a. including one time cost of stamp duty and registration.
For Interest paid - Under Section 24(b) of the Income Tax Act for the maximum tax deduction of up-to Rs.2 Lakhs p.a. for self-occupied properties while there is no limit for let out properties.
For additional home loan interest deduction for first time home buyers - Under Section 80EE of the Income Tax Act for the maximum tax deduction of up-to Rs.50,000 p.a.
Enquiry NowPre-EMI is paid when the house is in under-construction. So, you cannot use the pre-EMI as the tax deduction source. Once the construction is completed the total pre-EMI interest paid can be claimed in five equal instalments in the subsequent years from the year in which the construction is completed under section 24(b) of the Income Tax Act 1961.
Note: -
Pre-EMI is only the interest paid during the period. If you have paid any principal amount, that is not eligible for the tax deduction. Such an amount is lost forever.
ICICI Bank |
Ground Floor, Woodmall Plaza, LBS Marg, Teen Hath Naka, Thane West - 400604 |
HDFC Bank |
1st Floor, Trade Star, Andheri Kurla Road, C-Wing, J B Nagar, Andheri East, Mumbai - 400059. |
Canara Bank |
1st Floor, 101, Ishan Arcade 1, Gokhale Road, Naupada, Thane West - 400602 |
Q. Which is the best home loan bank in Mumbai?
Ans: The bank which offers the cheapest home loan in Mumbai is HDFC Ltd Mumbai followed by ICICI Bank Mumbai. By applying for a housing loan in Mumbai with these banks you enjoy lower home loan processing charges in Mumbai starting from zero and lowest home loan interest rates in Mumbai starting from 6.75% onwards. Both banks rank among the top housing loan providers in Mumbai.
Read more on Best Bank For Home Loan In India.
Q. What is the minimum income required to apply for a house loan in Mumbai?
Ans: The minimum income required varies from lender-to-lender Banks/NBFCs/HFCs. However, the minimum income required to apply for a decent home loan in Mumbai is Rs. 2 Lakhs p.a.
Q. What is the lowest interest rate on home loans in Mumbai?
Ans: The lowest home loan rates in Mumbai starts from 6.75%*p.a.
Q. How long does it take to avail a housing loan in Mumbai?
Ans:For offline home loans it nearly takes 15-20 working days for the disbursement. While applying for a home loan online, you can get an instant sanction/ instant loan in Mumbai sanction within hours.
Q. Is it possible to get an SRA home loan in Mumbai?
Ans: Yes, it is possible to get a home loan for SRA flat in Mumbai, provided the property has a clear and marketable title and is minimum 5 years old. Also, the home loan amount will be subject to your eligibility.
Q. Can I get a home loan for chawl room in Mumbai?
Ans: No. There are no home loans which are provided for the purchase of chawl property.
Q. How to apply for a home loan top-up with ICICI Bank?
Ans: ICICI Bank provides the lowest rates for home loan top up in Mumbai starting from 6.85% p.a. For more details on ICICI Home Loan Top Up refer our article on ICICI Bank Top Up Loans
.
To apply for ICICI Bank home loan top-up loan contact Loanfasttrack.
The top reason for investing in the metropolitan city of Mumbai, is its connectivity. All the parts of Mumbai and its suburbs are well connected via rail, roads and metro trains/mono rails. This connectivity helps the commuter to easily travel in Mumbai. The following are the best locations to buy a property in Mumbai.
Mumbai |
|||
Andheri West (Shop No 1, Guinea Paradise |
Andheri East (No 47, Ground Floor, Opus Centre, MIDC, Opp. Tunga Hotel, Mumbai - 400093) |
Bhandup West |
Byculla |
Breach Candy |
Bandra Kalanagar |
Bandra West (Landmark Building, Off Turner Road, Pali Naka, Mumbai - 400050) |
Ballard Estate (Marshal Annexe Soorji Vallabhdas Marg, Mumbai - 400001) |
Borivali West (No 11, Ground Floor, Anjana Apartment, Shimpoli Junction, Mumbai - 400092) |
Borivali East (Shop No 14, Krishna CHS, Shri Krishna Nagar, Mumbai - 400066) |
Churchgate |
CST |
Crawford Market |
Colaba |
Charni Road East |
Chowpatty |
Chembur (Ground Floor, Swastik Value Heights, Tilak Nagar, Next to Sahakar Cinema, Mumbai - 400089) |
Chandivali |
Dadar West |
Dadar East |
Dahisar East |
Grant Road East |
Goregaon West (Unit No C & D, AK Plaza |
Goregaon East |
Ghatkopar East (FP No 25, SN 1 & 2, Bldg No 3, Gr Floor, Bhaveshwar Nagar, Mumbai - 400077) |
JVLR |
Jogeshwari West |
Jogeshwari East Caves Road |
Juhu (Amaltas CHS, Juhu Versova Link Road, Andheri West, Mumbai - 400053) |
Kurla West |
Kanjurmarg West |
Khar West |
Kalina Santacruz East |
Kandivali West (Shop No 3 & 4, Krishna Palace, Charkop, Sector 5, Next to Dena Bank, Mumbai - 400067) |
Kandivali East |
Lower Parel |
Malabar Hills |
Mazgaon |
Mahalaxmi |
Matunga |
Mahim |
Malad West (Shop No 8, Ground Floor, Bhagat Grandeur, Link Road, Opp. Goregaon Sports Club, Mumbai - 400064) |
Malad East |
Mulund West (Ground Floor, Vikas Palazzo, Jn of JN Rd, Valji Ladha Road, Mumbai - 400080) |
Mulund East (901, Manisha Gardens, Mumbai - 400080) |
Mohammad Ali Road |
Marine Drive |
Nahur |
Nariman Point |
Powai |
Null Bazar |
Powai |
Santacruz West |
Santacruz East |
Sion East |
Tardeo |
Vile Parle East |
Vile Parle West (PN 13/14/15, National House, Sahar Rd Jn, Off Western Express Highway, Mumbai - 400057) |
Vikhroli West |
Worli (Aditya Birla EC, SK Ahire Marg, (No 84 A, RG Thadani Marg, |
Walkeshar |
Wadala East |
|
|
Thane |
|||
Ambernath |
Badlapur |
Bhayandar West |
Dombivali West |
Dombivali East |
Ghodbunder Road |
Ghansoli |
Guravali |
Hiranandani Estate |
Hiranandani Meadows |
Hardaswadi |
Kolshet Road |
Khopat |
Kalyan Shil Road |
Kalyan West |
Khadakpada Kalyan West |
LBS Marg Thane West |
Mira Road East |
Mira Road |
Nalasopara West |
Naigaon |
Pokhran Road |
Panchpakhadi |
Talao Pali |
Thane Belapur Road |
Virar |
Vasai (Ground Floor, Madhu Mangal Building, Virar Railway Station, Next to Chintami Mandir, Virar - 401303) |
Vasai West |
Vasant Vihar |
Wagle Estate |
|
|
Navi-Mumbai/ Panvel |
|||
Airoli (Riddhi Siddhi Heights, PN 59, Sector 19, Nr Euro School, Navi Mumbai - 400708) |
APMC Market 1 |
Belapur |
Kharghar Sector 7 |
Kharghar Sector 12 |
Kamothe |
Khanda Colony Sector 13 |
Lodhivali Panvel |
Nerul West |
New Panvel Sector 15 |
Sector 11 CBD Belapur |
Seawoods, Navi Mumbai Sector 42 |
Seawoods |
Sanpada |
Shivaji Chawk, Panvel |
Turbhe |
Uran |
Vashi Sector 7 |
Vashi Sector 11 |
Vashi Sector 14 |
Vashi Sector 15 |
Vashi Sector 17 |
Vashi Sector 19 |
|
Loanfasttrack is the provider of free loan services in Mumbai and is among one of the best home loan companies in Mumbai. To secure your dream house, you need a trustable entity that can guide you appropriately on your loan requirements. We at Loanfasttrack guarantees the best guidance through our highly qualified and dedicated professional team who helps through the comparative analysis and evaluations on the home loans offer and home loan rates of the top banks. We understand you and your requirement and therefore provide you with the best housing loan in Mumbai.
Loanfasttrack is the trustable name for home loan in Mumbai India which provides you with the assured low home loan rates in Mumbai.
It is the best online platform that helps you to compare home loan interest rates in Mumbai, check your home loan eligibility & apply online for home loan in Mumbai just at a single click. It ends your worries of “Which bank gives lowest interest rates for home loan in Mumbai” by providing you with best and the lowest Housing loan interest rates in Mumbai.
Apply with us today for your joint home loan, home mortgage loans, home improvement loans, home renovation loans & bank loan for house with lowest home loan interest rates in Mumbai.
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