Home Loans in Mumbai

Mumbai, the city of dreams. Every year, people move to this city of opportunities with a determination of realising their ambitions, making a name for themselves, and carving a safe haven here. In this busy city of Mumbai where the real estate prices are steep and ever changing, Kotak offers you a home loan with easy documentation and in-principle approval in 24 hrs*.

Along with this, the bank offers various features which will benefit home-buyers to avail home loans in Mumbai:

• A hassle-free process, no hidden charges: Applying online ensures that you skip the queues, escape the traffic of Mumbai in the rush hours and save yourself from the unpredictable weather of the city.
• Zero processing fee home loans for customers applying online: We, at Kotak, have ensured that you avail the benefit of zero processing fees when you apply online for your dream house in this ever-bustling city.
• Pradhan Mantri Awas Yojana (PMAY) compliant: Avail the benefit of the PMAY subsidy scheme by availing your home loan for your first pucca house from us in the city of Mumbai.

The other benefits that Kotak Mahindra Bank, one of the leading banks, has to offer in the field of Home Loans in Mumbai are as follows:

• Attractive Interest Rates
• Convenient Loan Disbursal Process
• Simplified Documentation
• Insurance Options to cover your Home loan at attractive premium
• Doorstep Service
• Tenure available upto 20 years for Salaried and upto 15 years for Self-Employed
• Quick Turnaround time

Check your home loan eligibility to apply for a home loan in Mumbai.
Sometimes, buying a home is not a difficult task. But, looking for the right help is. Kotak Home Loan is your perfect partner which will show you the direction to your new abode.
Apply for Kotak Home Loan in Mumbai today. 

To avail a home loan in Mumbai from Kotak Mahindra Bank, we have a predefined home loan eligibility criteria.

Based on different types of applicants, here is the list of criteria that has to be fulfilled while applying for a home loan in Mumbai.

Eligibility criteria for an Individual to apply for a home loan in Mumbai-

• Minimum 18 years of age and Maximum 60 years
• In case of self-employed: Maximum 65 years of age
• Gross Income of the individual residing in Mumbai should be minimum Rs. 20,000/month

Eligibility criteria for a Partnership Firm / LLP/ Indian Company to apply for a home loan in Mumbai -

• Should be in existence for at least 3 years
• Minimum net income should be Rs.2,40,000/- p.a.

Eligibility criteria for a Hindu Undivided Family (HUF) to apply for a home loan in Mumbai -

• Karta of HUF must be applicant / co applicant.
• Should be in existence for at least 3 years
• IT returns of HUF for 3 years should be obtained.
• Minimum net income should be Rs. 240000/-p.a.

Minimum Qualification -

Graduate when applicant is employed with a private limited company or partnership firm. If applicant is employed with Public limited company or MNC or Government or Public Sector Company then there is no such criteria.

Check the list of required documents to apply for home loan in Mumbai.

While submitting your application form, it is necessary to submit few supporting documents. Based on the type of applicant, we have made a list of documents required to apply for a home loan in Mumbai:

Documents required for a salaried applicant to apply for a home loan in Mumbai-

• One photograph (passport size)
• Pan card copy (all applicants with relationship proof)
• Aadhaar card copy (all applicants with relationship proof)
• Residence proof copy (all applicants with relationship proof)
• Salary Slips (of all applicants whose income is considered) – last 3 months
• Form 16 and ITR (of all applicants whose income is considered) - last 2 years
• Bank statement in original where salary credited (of all applicants whose income is considered) – last 6 months
• Bank statement of any other bank a/c (of all applicants whose income is considered) - last 6 months
• Details of loan availed with track record (if any existing loans)
• All property documents (chain) with sanction map

Documents required for self-employed and NRI applicants to apply for a home loan in Mumbai -

In addition to KYC documents, check out other necessary documents –