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Home Loan In Mumbai

Home Loan: Overview

Mumbai is one of the most sought-after cities in India as it offers plenty of job opportunities and facilities that enhance your quality of life, such as an excellent public transport system. If you wish to settle down here, Bajaj Finserv can help you fulfil your dream with its Home Loans of up to Rs.3.5 crore, as real estate prices in Mumbai are extremely high. Moreover, you can avail this Home Loan at minimal housing loan interest rates, for a tenor of up to 20 years. To find out why you should pick Bajaj Finserv’s Home Loan in Mumbai, read on.

Mumbai Home Loan: Features & Benefits

  • PMAY

    A government initiative, Pradhan Mantri Awas Yojana scheme makes buying a home affordable. Lenders like Bajaj Finserv allow you to avail its benefits so that you can enjoy a subsidy of up to Rs.2.67 lakh along with the Bajaj Finserv Home Loan’s excellent features.

  • Home Loan Balance Transfer

    To benefit from low housing loan interest rates, you can transfer existing home loan balance to Bajaj Finserv. You can do this by completing a simple process and submitting minimal documentation.

  • Top-up Loan

    As an existing home loan borrower, you can opt for a Top up Loan of up to Rs.50 lakh. What’s more, you can use this amount as per your discretion for home renovation, business expansion, or your children’s education. Bajaj Finserv makes the process of availing this sanction easy, as you don’t have to submit any additional documents to access this low-interest loan.

  • Part-prepayment and Foreclosure Facility

    Bajaj Finserv lets you prepay and foreclose your loan at no additional charge. You can avail this facility and clear your loan before the tenor ends to reduce your cost of borrowing if your finances allow you to do so.

  • Flexible Tenor

    Bajaj Finserv has a flexible tenor of up to 240 months for your home loan. This makes repayment a stress-free experience and you can choose a tenor of your choice based on your financial standing.

  • Minimal Documentation

    Bajaj Finserv allows you to apply for a Home Loan in Mumbai using minimal documents. This notably accelerates the loan approval and disbursal process.

Home Loan Interest Rate, Fees & Charges

Bajaj Finserv’s Home Loan in Mumbai is affordable because of its nominal housing loan interest rate. In addition to the low rates, it doesn’t levy any hidden fees and charges. To understand the charges due, take a look at the table below.

Interest Rates and Fees Charges
Home loan interest rate (for salaried individuals) 9.05% to 10.30%
Home loan interest rate (for self-employed individuals) 9.35% to 11.15%
Bajaj Finance Limited floating reference rate 20.90% for salaried and self-employed individuals
Promotional interest rate From 8.80% for a loan up to Rs.30 lakh for salaried individuals
Processing fees (for salaried individuals) Up to 0.80%
Processing fees (for self-employed individuals) Up to 1.20%
Penal interest 2% per month+ applicable taxes
Loan statement charges Rs.50
One-time secure fee Rs.9,999
Non-refundable mortgage origination fee Rs.1,999
Principal and interest statement charges Nil
EMI bounce charges Rs.3,000

A low interest rate structure, coupled with the deductions available under the various sections of the Income Tax Act allow you to save a significant sum on the whole.

Home Loan Eligibility Criteria

Bajaj Finserv has simple home loan eligibility criteria, which means that you can apply for this loan easily. The basic requirement is that you need to be an Indian citizen residing in India. Thereafter, you only have to fulfil 2 other criteria to apply for Bajaj Finserv’s Home Loan in Mumbai.

Criteria Salaried applicant Self-employed applicant
Age 23 to 62 years 25 to 70 years
Minimum work experience/ business continuity 3 years 5 years
Residency Indian Indian

Calculate Home Loan EMI

You can gauge your home loan EMIs in advance by using Bajaj Finserv’s EMI calculator for home loan. Apart from showing you your EMI, it gives you a chance to pick the right loan amount and tenor, so that repayment is affordable throughout. You can arrive at an EMI that fits with your budget by entering different combinations of principal amount and tenor.

Documents Required for Home Loan

Bajaj Finserv does not require you to submit several documents and this accelerates the loan processing time. Take a look at the basic documents you need to provide for a Home Loan in Mumbai.

  • KYC documents and photograph
  • Address and identity proof
  • Latest salary slips or Form 16
  • Past 6 months’ bank account statements
  • Proof of business (minimum of 5 years) if you’re a self-employed applicant

How to Apply for Home Loan

You can apply for a home loan in Mumbai in a hassle-free manner by sending ‘HLCI’ as an SMS to 9773633633. Alternatively, you can also apply online by following these easy steps.

  • Fill the application form with relevant personal, financial, and employment details. Also enter property details
  • Submit these details and if you wish to, book an available offer by paying the secure fee online. The relationship manager will then get in touch with you to process your application further
  • After paying the fees, submit scanned copies of the documents required for home loan online to validate your application

In case you want to apply in person, you can also visit a Bajaj Finserv branch to do so. Regardless of the application method you choose, be sure to check your pre-approved offer, as it is the fastest and simplest way to apply for home financing. It allows you to avail a home loan in Mumbai via a tailor-made deal when you enter your name and mobile number.

Contact Us

You can contact with Bajaj Finserv customer care for all queries related to our home loans.

1. For new customers


    we have a calling line set up at 1800-103-3535.


    You can also visit any of our branches.Click here to find out the address of your nearest branch.


    just SMS "HOME" to 9773633633 and our representative shall get back to you.

2. For existing customers,


    We are available at 020-39574151 (call charges applicable).


    You can also write to us at:

Branch Address
Bajaj Finserv
The Affairs, 7th Floor, Sector 17 Palm Beach Road
Mumbai, Maharashtra
Phone: 1800 209 4151

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