Home Loans in Pune
Looking for the best home loan in Pune? Compare top lenders offering attractive interest rates, easy eligibility, and flexible repayment plans. Find the ideal loan that fits your budget and needs. Apply today for fast approval and secure home financing with minimal paperwork and hassle in Pune!
Looking for the perfect home loan in Pune? Your search stops here. Several trusted lenders provide competitive rates and flexible terms to help you finance your dream home.
The leading banks and financial institutions provide home loans in Pune at rates starting from 8.75% p.a. You’ll find various types of home loans in Pune that suit your needs:
- Home purchase loans
- Construction loans
- Home improvement loans
- Home extension loans
- Balance transfer facility
- Top-up loans up to ₹50 Lac
Key Benefits You Can Enjoy:
- Quick loan sanctions with clear processes
- Service right at your doorstep through nearest offices
- Interest subsidy up to ₹2.67 lakh under PMAY CLSS
- Simple documentation requirements
- Pre-approved loan options for faster processing
- Multiple tax benefits up to ₹3.5 lakh on principal and interest amounts
The lenders complete application processing within 3-10 days after documentation. You’ll need to pay a processing fee of 0.50% of the loan amount or ₹3,000 plus GST, whichever is higher.
Ready to Get Started? Connect with these trusted lenders to explore the best home loan rates in Pune and find the perfect financing solution that matches your needs.
Home Loan Interest Rate in Pune
A good grasp of home loan interest rates in Pune is vital to make smart borrowing choices. Your decision between fixed and floating rates will affect your financial future by a lot.
Right now, home loan rates in Pune begin at 8.35% p.a. Here’s how interest rates stack up among major lenders:
| Lender | Home Loan Interest Rates In Patna | 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 |
While learning about home loan rates in Pune, you’ll find two types of interest rates:
Fixed Interest Rate:
- Stays the same throughout your loan period
- Usually costs 1-2.5% more than floating rates
- Helps you plan your budget better
- Might come with prepayment penalties
Floating Interest Rate:
The current repo rate of 6.50% determines your rate. Banks add 2.25% to 3.15% above this base rate. You could save money when market rates drop.
Your home loan interest rate in Pune depends on several things:
- Credit score (try to get 750 or higher)
- Loan-to-value ratio
- Employment status
- Property location
- Loan tenure
You’ll get better rates with a high credit score and a bigger down payment. Note that even a small difference in your interest rate can change your total loan cost dramatically over time.
Eligibility Criteria for Home Loans in Pune
Securing a home loan in Pune starts with qualifying for the eligibility criteria. A clear understanding of these requirements will help you assess your qualification status and build a stronger loan application.
This home loan in Pune eligibility breakdown shows the key requirements:
| Category | Age Requirement | Minimum Income |
| Salaried | 23-65 years | ₹25,000/month |
| Self-employed | 23-70 years | ₹2 lakh p.a. |
Essential Eligibility Criteria:
- Credit Score: Maintain a minimum score of 750 for better approval chances
- Employment Status: Must be either salaried (private/public/MNC) or self-employed professional
- Work Experience: Minimum 2 years in current profession
- Property Value: The property’s market value influences your loan amount eligibility
These strategies can help you boost your home loan eligibility in Pune:
- Add a co-applicant with stable income
- Opt for an extended repayment duration
- Clear existing financial obligations
- Maintain a credit score above 750
- Declare all additional sources of income
Several factors determine your loan amount eligibility, including your credit profile, income stability, and existing financial commitments. Lenders typically offer up to 80% of the property value as loan amount. This percentage varies based on your profile and the chosen property.
Note that meeting these basic criteria doesn’t guarantee loan approval. Lenders take an integrated approach to assess each application by looking at factors like property location, type, and your overall financial health.
How to Apply for a Home Loan in Pune
Are you ready to buy your first home? The home loan application process in Pune has become efficient with several convenient options to choose from.
Let me walk you through the steps to apply for a home loan in Pune:
Complete Application Form
- Add your personal information and property details
- Submit through online portal, mobile app, or visit nearest branch
Document Submission
- Submit identity, income, and property papers
- Upload soft copies if applying digitally
Pay Processing Fee
- The fee ranges from 0.25% to 0.50% of loan amount
- Payment options include online and branch
Verification Process
- Your bank will conduct field investigation
- Legal and technical assessment of property
Loan Approval & Disbursement
- You’ll receive sanction letter with loan terms
- Bank disburses funds after verifying documents
Essential Documents Required:
| Document Type | Salaried | Self-Employed |
| Identity Proof | Aadhaar, PAN, Passport | Aadhaar, PAN, Passport |
| Income Proof | Latest 3 months’ salary slips, Form 16 | 2 years ITR, P&L statements |
| Bank Statements | Last 6 months | Last 12 months |
| Property Documents | Sale agreement, NOC | Sale agreement, NOC |
Your home loan in Pune processing time depends on your employment status:
- Salaried professionals get approval in 2-3 working days
- Self-employed applicants need 4-5 working days
Here’s where you can apply:
- Online through bank websites
- Mobile banking apps
- Visit nearest branch
- Through relationship managers
Quick approval of your home loan in Pune depends on complete documentation and prompt responses to your lender’s requests.
Tax Benefits On Home Loan Rates In Pune
A home loan in Pune becomes more appealing because of its tax advantages. Your loan payments can help you save a lot on taxes through deductions under the Income Tax Act.
Here’s a complete overview of tax benefits you can get with your home loan in Pune:
| Tax Section | Component | Maximum Deduction |
| Section 80C | Principal Repayment | ₹1.5 lakh per year |
| Section 24(b) | Interest Payment | ₹2 lakh per year |
| Section 80EE | Additional Interest Benefit | ₹50,000 per year |
Your tax benefits on home loans in Pune have specific conditions :
Principal Repayment Benefits: You can get deductions up to ₹1.5 lakh each year under Section 80C for your principal repayment. This includes stamp duty and registration charges, but you must claim them in the same financial year.
Interest Payment Benefits: Self-occupied property owners can claim up to ₹2 lakh yearly on interest payments under Section 24(b). Rented properties have no upper limit on interest deduction.
Additional Benefits for First-Time Buyers: First-time homebuyers can claim an extra ₹50,000 deduction under Section 80EE if:
- Your loan stays under ₹35 lakh
- Property costs less than ₹50 lakh
Joint Home Loan Advantages: With a joint home loan in Pune:
- Each co-borrower claims principal deduction up to ₹1.5 lakh under Section 80C
- Interest deduction reaches ₹2 lakh per person under Section 24(b)
- Co-owners must contribute to loan repayment
Pre-Construction Interest Benefits: Under-construction property owners can claim pre-construction interest in five equal installments after completion. This adds to your regular interest deduction, within the ₹2 lakh limit for self-occupied property.
Note that these tax benefits apply only to the old tax regime. A tax expert can give you guidance based on your situation.
