Home Loan in Thane
Looking for the best home loan in Thane? Compare top banks offering attractive interest rates, flexible tenures, and simple documentation. Find the ideal loan to make your dream home a reality. Apply today for fast approval, easy processing, and hassle-free home financing in Thane!
Thane has evolved into an attractive destination for homebuyers due to its proximity to Mumbai. The city’s strong infrastructure and green spaces make property investments rewarding, even as prices continue to rise.
Homebuyers looking to purchase property in Thane can get home loans up to Rs. 15 crore. Interest rates begin from 8.30% p.a., which makes home ownership within reach for many. Lenders provide flexible repayment options that extend up to 30 years. This flexibility helps you select EMIs that match your budget.
The Loan to Value (LTV) ratio guidelines for your home loan in Thane are:
| Loan Amount | Maximum LTV Ratio |
| Up to Rs. 30 lakh | Up to 90% |
| Rs. 30 lakh to Rs. 75 lakh | Up to 80% |
| Above Rs. 75 lakh | Up to 75% |
The home loan application process works smoothly through online and offline channels. Online applications need a completed form, scanned documents, and a small processing fee. These processing fees usually range from 0% to 0.50% of the loan amount.
Banks and housing finance companies provide special home loan schemes to different groups. Women borrowers, defense personnel, and NRIs can benefit from these tailored options. The home loan balance transfer facility helps borrowers switch to lenders with better interest rates.
Ready to Apply? Leading banks in Thane can help explore your home loan options and provide interest rates based on your profile.
Home Loan Interest Rate in Thane
The way you understand home loan interest rates in Thane can save or cost you money, as small rate differences affect your finances by a lot over time. Right now, lenders offer competitive rates from 8.30% p.a., making this a good time to look at your options.
Let’s look at current home loan interest rates from major lenders in Thane:
| Lender | Home Loan Interest Rates In Thane | Processing Fees & Charges | Maximum Loan Amount | Maximum Loan Tenure |
| Aavas Financier Limited Home Loan | 8% | 2% | – | 30 Years |
| Aditya Birla Capital Home Loan | 9% – 12.50% | 1% | 10 Crores | 30 Years |
| Andhra Bank Home Loan | 8.15% – 9.20% | 0.50% or ₹15000 + GST (whichever is lower) | – | 30 Years |
| Axis Bank Home Loan | 8.75% – 14% | 1% | 10 Crores | 30 Years |
| Bank of Baroda Home Loan | 8.50% – 10.60% | 0.25%- 0.50% | 10 Crores | 30 Years |
| Bank of India Home Loan | 7.80% – 9.65% | – | 7.50 Crores | 30 Years |
| Bank of Maharashtra Home Loan | 8.40% | 0.25% or 25,000 (whichever is lower) | 1 Crore | 30 Years |
| Canara Bank Home Loan | 8.85%- 11.25% | ₹1,500 – ₹10,000 | 3 Crores | 30 Years |
| Central Bank of India Home Loan | 8.45% – 9.20% | 0.50% or ₹20,000 + GST (whichever of lower) | 75 Lakhs | 30 Years |
| DBS Home Loan | 8.25% – 9.75% | – | 5 Crores | 25 Years |
| Dena Bank Home Loan | 8.25% – 8.35% | 0.50% | 1.5 Crores | 30 Years |
| Dhanalakshmi Bank Home Loan | 7.2% | 1% or ₹10,00 + GST (whichever is higher) | 1 Crore | 30 Years |
| DHFL Home Loan | 8.75% | – | 5 Crore | 30 Years |
| Federal Bank Home Loan | 10.15% – 10.30% | – | 15 Crores | 30 Years |
| HDFC Ltd. Home Loan | 8.50% – 9.60% | 0.50% or ₹3000 (whichever is higher) | 10 Crores | 30 Years |
| IDBI Bank Home Loan | 8.75% – 11.45% | – | 10 Crore | 30 Years |
| IDFC First Bank Home Loan | 8% – 14% | 3% | 10 Crores | 30 Years |
| Indiabulls Home Loan | 8.75% | 1% | 2 Crores | 30 Years |
| Indian Overseas Bank Home Loan | 9.55% | – | – | 30 Years |
| India Shelter Finance Corporation Home Loan | 13% – 20% | 2% – 3% + GST | 50 Lakhs | 20 Years |
| Jammu and Kashmir Bank Home Loan | 8% | 0.25% + GST | 50 Lakhs | 30 Years |
| Karnataka Bank Home Loan | 9.08% – 10.38% | 0.50% – 2% | 5 Crores | 30 Years |
| Karur Vysya Bank Home Loan | 9.23% – 12.13% | ₹2500 – ₹7500 + GST | – | 25 Years |
| Kotak Mahindra Bank Home Loan | 8.85% – 9.40% | 0.50% | 10 Crores | 20 Years |
| LIC HFL Home Loan | 8.70% | 0.30% onwards | 10 Crores | 30 Years |
| PNB Housing Home Loan | 8.50% – 10.85% | – | 2 Crores | 30 Years |
| Reliance Home Finance Limited Home Loan | 9.35% – 13% | 0.50% – 1.50% | – | 20 Years |
| South Indian Bank Home Loan | 7.95% – 9.60% | 0.50% + GST | 15 Crores | 30 Years |
| State Bank of India Home Loan | 9.55% | ₹2000 – ₹10000 + GST | 5 Crores | 30 Years |
| Sundaram Home Finance Ltd Home Loan | 6.95% – 8.30% | 0.50% | 4 Crores | 25 Years |
| Tamilnad Mercantile Bank Home Loan | 9.10% – 9.60% | 0.50% | 5 Crores | 30 Years |
| Tata Capital Limited Home Loan | 8.95% | 2% | 5 Crores | 30 Years |
| Union Bank Home Loan | 8.75% | 0.50% or ₹15000 + GST (whichever is lower) | – | 30 Years |
| Yes Bank Home Loan | 9.15% – 11.25% | 1.5% – ₹10000 (whichever is higher) | 10 crores | 35 Years |
Several factors determine your interest rate:
- Your credit score
- Loan-to-Value (LTV) ratio
- Employment profile
- Property location
- Loan tenure
You’ll need to pick between fixed and floating interest rates. Floating rates start lower at 8.30% p.a., while fixed rates give you stability but cost 1-2% more. Your risk comfort level and market outlook should guide this decision.
Eligibility Criteria for Home Loans in Thane
A home loan in Thane needs you to meet specific eligibility rules set by lenders. Understanding these requirements will help boost your approval chances before you start your home loan experience.
Let’s look at what you need to qualify for home loans in Thane:
| Criteria | Salaried Individuals | Self-Employed |
| Age Limit | 21-65 years | 21-65 years |
| Minimum Income | Minimum Rs. 10,000/ monthly | Minimum Rs. 2 lakh/ yearly |
| Work Experience | 2 years minimum | 3 years in business |
| Credit Score | 750 or above | 750 or above |
You’ll need these documents:
- Identity proof (PAN card, Aadhar card, passport)
- Address proof (utility bills, passport)
- Income documents (salary slips, bank statements)
- Property documents
Adding a co-applicant with steady income can improve your eligibility. This strategy can help you get a bigger loan amount and better approval odds, especially when you’re close to retirement age.
How to Apply for a Home Loan in Thane
Getting your dream home in Thane begins with a well-planned home loan application. The process has been optimized with online and offline options accessible to more people based on their preference.
Your step-by-step guide to applying for a home loan in Thane:
- Submit Application
- Complete the application form
- Pay processing fee (0.5% of loan amount)
- Attach required documents
- Get acknowledgment receipt
- Document Verification
- Bank verifies submitted documents
- Credit score assessment
- Income verification
- Property evaluation begins
- Property Assessment
- Technical evaluation
- Legal verification
- Market value assessment
- Title deed verification
- Loan Approval & Disbursement
- Receive sanction letter
- Review loan terms
- Sign agreement
- Get disbursement (15-30 days)
Essential Documents Required:
| Category | Documents |
| Identity & Address | PAN card, Aadhaar, Passport |
| Income Proof | 3 months salary slips, 6 months bank statements |
| Property Papers | Sale deed, NOC, Approved plans |
| Business Proof (Self-employed) | 3 years ITR, Business license |
Pro Tips to Get Faster Approval:
- A credit score above 750 helps secure better interest rates
- Complete documentation prevents delays
- Quick responses to bank queries help
- Digital applications can speed up processing
Note that many lenders in Thane offer pre-approved loans to select customers based on their income and credit profile. This can speed up your approval process substantially.
Tax Benefits On Home Loan Rates In Thane
A home loan in Thane offers the most important tax advantages that help cut down your borrowing costs. You can maximize your tax savings while building your dream home by understanding these benefits properly.
Here’s a complete breakdown of the tax benefits you get with your home loan:
| Tax Section | Component | Maximum Deduction |
| Section 80C | Principal Repayment | Rs. 1.5 lakh per year |
| Section 24(b) | Interest Payment | Rs. 2 lakh per year |
| Section 80EEA | Additional Interest | Rs. 1.5 lakh per year |
Both co-borrowers can claim these deductions separately with joint home loans, which doubles your tax benefit. You must be both a co-owner and co-borrower of the property to get these benefits.
Key requirements to claim your tax benefits:
- Construction must finish within 5 years after taking the loan
- You can’t sell the property within 5 years of possession
- Let-out properties have no limit on interest deduction
First-time homebuyers who purchase an affordable home (value up to Rs. 45 lakhs) can get an extra deduction of Rs. 1.5 lakh under Section 80EEA. This applies if your loan was approved between April 1, 2019, and March 31, 2022.
