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Own Your Home in Mumbai with Kotak Bank Home Loans

In the city of dreams, Mumbai, life unfolds in a vibrant mosaic of cultures, ambitions, and aspirations. Amidst some of the most iconic places in India, bustling streets and towering skyscrapers, the dream of owning a home in the financial capital can seem like quite a task. However, an expanding infrastructure coupled with greater connectivity and accessibility have provided aspiring homeowners with plenty of opportunities.

For instance, the construction of Metros has greatly enhanced travel convenience and connectivity throughout Mumbai. As a result, there has been a significant surge in real estate demand in various city areas, particularly in the outskirts and well-connected regions.

Mumbai boasts a thriving job landscape with numerous multinational corporations and major Indian business entities establishing their offices in the city. This constant growth in job opportunities, particularly in the finance and banking sectors, makes Mumbai an ideal place to settle down. With affordable Home Loan rates in Mumbai readily available, financing your desired property in the city becomes easily achievable with Kotak Mahindra Bank’s Home Loans.

Features and Benefits of Availing a Home Loan in Mumbai

Ø Competitive Interest Rate: Secure your dream home in Mumbai with competitive interest rates, and make your investment more affordable

Ø Effortless Application: Simplify your journey to homeownership with an application process that's easy to navigate and complete

Ø Minimal Paperwork: With streamlined documentation, your home loan application is simplified

Ø Processing Fees Discounts:  Enjoy a 50%* reduction in processing feess, making your loan even more cost-effective

Ø Tailored Financing:  Our home loans are adaptable, allowing you to tailor the terms to suit your individual financial needs and goals

Ø Easy-to-use Loan Calculators:  Use our Home Loan Calculator to make the right call, and ensure your financial planning aligns perfectly with your new home

Ø Swift Processing:  Loan processing so smooth, you can move into your new home sooner than you thought

Ø Flexible Repayment Plans:  Choose a repayment tenure that fits your budget and future aspirations perfectly

Ø Personalised Assistance:  Benefit from the support of dedicated relationship manager who will guide you through the entire process

Home Loan Interest Rates in Mumbai

Are you searching for the one of the best Home Loan rates in Mumbai to finance your dream home? Look no further than Kotak Mahindra Bank for highly attractive interest rates. Click here to stay updated with the latest information on home loan interest rates and explore our extensive range of affordable home loan interest rates in Mumbai.

Customer Type Effective Rate Of Interest

Floating Category (Repo Rate: 6.50%)

For Salaried

8.70% onwards

For Self-employed

8.75% onwards


*Please contact us to stay updated with the latest information on home loan interest rates and explore our extensive range of affordable home loan interest rate in Mumbai.

Eligibility Criteria of Home Loans in Mumbai

To avail some of the best Home Loan rates in Mumbai, it is essential to meet certain eligibility criteria for a home loan. These requirements ensure applicants have the credentials and financial stability to repay the loan in a timely manner.

Listed below are the key eligibility requirements that you must meet to avail of a home loan:

Criteria Self-employed Applicants Salaried Applicants

Applicants should be between 18-65 years old

Applicants should be between 18 and 60 years old



Minimum Income of Rs 20,000 per month for residents of Delhi, Mumbai, Bangalore, Pune, and Chennai.

Minimum Income of Rs. 15,000 per month for the residents of other cities.

Minimum Income of Rs 20,000 per month for Delhi, Mumbai, Bangalore, Pune, and Chennai residents.

Minimum Income of Rs 15,000 per month for the residents of other cities.

Work Experience/ Continuity A minimum 3 years in business, practice or profession.
2 years of work experience and at least 6 months in the current organisation.


For a home loan in Mumbai, you need to provide various documents related to the property, finances, occupancy, identity, and address. These documents include

  • Proof of Identity (PAN/ Aadhaar/ Driving licence/ Voter ID)
  • Address Proof (Driving License/ Aadhaar/ Voter ID/ Passport)
  • Income Proof
  • Bank Statements
  • Proof of Age (PAN/ Aadhaar/ Driving licence/ Voter ID/ Passport)
  • Educational Qualification Proof
  • Signature Proof (PAN/ Passport)
  • Last 3 Years’ Income Tax Returns (ITR)
  • Last 3 years’ balance sheet and profit and loss account certified/ audited by a C.A. (in case of self-employed)
  • All Property Documents

*In certain cases, additional documents may be required.

How to Apply for a Home Loan at the lowest interests in Mumbai?

Applying for a Home Loan service in Mumbai is seamless and convenient with Kotak Mahindra Bank. Simply visit the Home Loan section on the website and follow this simple process. 

  1. Enter basic details such as the type of loan you wish to apply for - Fresh Home Loan. Use the Home Loan eligibility calculator to see if you qualify.
  2. Then it's time to obtain the all-important sanction letter. The online form requires you to provide essential information, including your monthly in-hand income, PAN details, and either your net banking credentials or the past six months' bank statements of your salary account.
  3. By agreeing to the terms and conditions, you can submit your application and receive the sanction letter instantly! That’s all, folks.

If you're interested in purchasing a house in Mumbai, take these simple steps and apply for a housing loan from Kotak Mahindra Bank. Remember, the interest rates available to you will depend on certain parameters and conditions, along with an exceptional loan application with an outstanding credit profile.


Ready to take the next step?

Have specific doubts? Talk to our Home Loan Advisor

FAQs for Home Loans in Mumbai

How much home loan can I get in Mumbai?

When determining the amount of Home Loan you can get in Mumbai, it's essential to consider the eligibility criteria. At Kotak Mahindra Bank, you can get a loan as high as 90% of the property value.

What are the popular residential areas in Mumbai for buying a home?

Among the enticing choices, some of the well-regarded residential areas in Mumbai for purchasing a home contain Borivali, Goregaon, Andheri, Mulund, and Chembur, alongside various other sought-after neighbourhoods.

How long does it take to get a home loan approved in Mumbai?

Getting pre-approval from a bank or financial institution is essential to secure a home loan. Typically, the loan sanctioning process takes approximately three to four weeks.

Can I transfer my existing home loan from another bank to Kotak in Mumbai?

Indeed, if a borrower finds a more competitive interest rate offered by Kotak, they can transfer their home loan. By taking advantage of a lower rate, borrowers can effectively lower their monthly instalments, ultimately reducing their overall loan expenditure over time. 

Can I prepay my home loan in Mumbai? Are there any charges associated with it?

In the case of adjustable-rate Home Loans, borrowers typically do not incur any prepayment charges. However, for fixed-rate home loans, lenders charge a nominal prepayment fee.

Can I apply for a home loan in Mumbai if I have a low credit score?

Usually, a credit score of 750 or higher is considered favourable when applying for a Home Loan. However, loan eligibility does not depend on that alone. There are multiple factors that come into play- income, employment, age, nature of profession, value of property, etc. Applicants with a subpar credit score should not be deterred, feel free to contact us and we’ll provide you with the best guidance possible.

Why is Kotak the most preferred Home Loan lender in Mumbai?

Kotak Mahindra Bank is the top choice for Home Loans in Mumbai due to our competitive interest rates, hassle-free application process, and swift loan approval. Our commitment to serving the financial needs of the people of Mumbai has made us a trusted name.

Branch Address:
4th Floor, Adamas Plaza,166/16, CST Road, Kolivery Village, Kunchi Kurve Nagar, Kalina, Santacruz East, Mumbai-400098



Terms & Conditions Apply: The final home loan interest rate and other associated charges are subject to a rigorous assessment process, including an evaluation of the applicant's creditworthiness, CIBIL score, property value, and other relevant factors.

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Disclaimer (Things you should know):

For loans: Credit at the sole discretion of the Bank and subject to guidelines issued by RBI from time to time. Bank may engage the services of marketing agents for the purpose of sourcing loan assets.