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✓ Home Loan from ₹2 Lakhs To ₹15 Cr ✓ Multiple Lending Partners ✓ Interest Rates Starting @ 7.70%

Pune is the second-largest city in Maharashtra and the ninth most populous city in India. Over the years, Pune has evolved into a major industrial zone and has become a reflection of the flourishing economy of Maharashtra. Consequently, the city is witnessing rapid real estate growth, with demand specifically in the commercial IT hubs, owing to the growth in the IT sector in Pune. If you wish to buy a house in Pune, you can easily avail a housing loan at Bajaj MARKETS. You can get a house loan of up to ₹5 crores for a tenure of up to 30 years at really affordable interest rates starting from just 6.7% per annum.

Compare Home Loan Interest Rate Offered by Various Banks & HFCs in Pune

Below is a list of the current housing loan interest rates and charges for all leading banks in Pune:

Lender

Interest Rate Range (per annum)

Home First Finance Company (HFFC) Limited

12%

Bajaj Housing Finance Limited

6.60% - 7%

PNB Housing Finance

6.75% - 9.10%

Union Bank of India Limited

6.80% - 7.40%

ICICI Bank

6.70% - 7.55%

 

Check Home Loan Interest Rate in detail

Features and Benefits of Home Loans in Pune

Availing a house loan for buying your dream house in Pune has many benefits. Some of the key features and benefits of availing a housing loan at Bajaj MARKETS are as follows:

  • Easy Application Process: The application process for a house loan in Pune is really simple and hassle-free. You can compare the house loan offers from various partner lenders at Bajaj MARKETS and choose the one that fits your needs the best.

  • Affordable Interest Rates: You can avail house loans at Bajaj MARKETS at really affordable interest rates starting from as low as 6.6% per annum.

  • Flexible Repayment tenure: You can choose a repayment tenure of up to 30 years for your house loan depending upon your income and other obligations.

  • Less Documentation: If you apply for a house loan at Bajaj MARKETS, you need not worry about arranging heavy paperwork and documents. You can take a loan with minimal documentation, depending upon your occupation.

Top Home Loan Providers in Pune

You can avail a home loan in Pune from any of our partner lenders. Here is a list of our lending partners along with the address and contact information.

Home Loan Lenders

Address

Contact Information

Union Bank of India

2-A, Arora Towers, 9 Moledina Road, Pune Camp, Dist. Pune, Maharashtra, Pin - 411 001

020 26126382

ICICI Bank

Satguru House, Bund Garden Rd, next to Tanishq Showroom, Pune, Maharashtra - 411001

1860 120 7777

Bajaj Housing Finance Limited

Cerebrum IT Park B2 Building 5th Floor, Holy Cross Rd, Kalyani Nagar, Pune, Maharashtra - 411014

1800 103 3535

PNB Housing Finance Limited

Shrirang House, 5-A/B/C/D, 5th, Jangali Maharaj Rd, near Pashankar Auto, Shivajinagar, Pune, Maharashtra - 411005

1800 120 8800

Home First Finance Company (HFFC) Limited

101, Krishnai Plaza, Beside Jijamata Mahila Sahakari Bank, Karve Nagar Bridge, Karve Nagar, Pune – 411052

08880649911

 

What are the Eligibility Criteria for a Home Loan in Pune?

The eligibility criteria for a home loan are different for different lenders. Some of the general eligibility conditions applicable for most lenders are:

  • Nationality: You must be a citizen of India.

  • Age: Most lenders require you to be between 21 and 65 years of age.

  • Type of Employment: You must be either a salaried employee of a private company/PSU or a government employee or a self-employed individual with a regular inflow of income.

  • Credit Score: You should have a good credit score, ideally upwards of 750.

  • Work Experience: Many lenders also require you to have a minimum work experience of 3 to 4 years.

Documents Required for a Home Loan in Pune

You will need to furnish the following documents while applying for a home loan in Pune:

For Salaried Applicants

  • KYC documents: Aadhaar Card, Voter ID Card, PAN card, passport, driving licence, etc.

  • Income Proof: Salary slips for the last 3 months, Bank statement for the past 6 months with salary credits, ITR/Form-16.

  • Property documents like the sale deed.

  • Bank statement showing the repayment history of the person.

For Self-Employed Applicants

  • KYC documents: Aadhaar Card, Voter ID Card, PAN card, passport, driving licence, etc.

  • Income Proof: Income Tax Returns of the past 3 years.

  • Balance sheet and P/L account statements for the last 3 years.

  • Savings account statement of the applicant for the last 3 years and current account statement of the business entity.

  • The latest copy of Form 26AS.

  • Memorandum of Association (MoA) and Articles of Association (AoA) of the company.

5 Best Locations to Buy Property in Pune

Here are five of the best places to make a real estate investment in Pune:

  • Baner: Located in north-west Pune in close proximity to the Hinjewadi IT hub, Baner is one of the favourite localities for IT professionals. The soon to be constructed metro rail will further improve the connectivity of Baner.

  • Hinjewadi: Also known as Pune’s IT hub, Hinjewadi is one of the most popular localities in Pune. Hinjewadi is also well connected to other prime areas in the city including Wakad, Baner, Tathawade and Balewadi.

  • Kharadi: Once a barre land, Kharadi is now a massive urban area in east Pune. Its close proximity to the airport and the cybercity make it a great place for real estate investment.

  • Hadapsar: It is another IT hub of Pune. Hadapsar is home to the corporate offices of some of the country’s largest IT giants.

  • Mundhwa: If you are looking for affordable housing options, Mundhwa can be a great choice for investment. The neighbourhood is located in east Pune by the banks of the river Mula.

Things to Consider While Buying a Home in Pune

Buying a house is a big-ticket investment and the real estate industry in India is not known to have a very good reputation. Therefore, it is advisable to be very careful before finalising any real estate purchase. Here is a list of a few things that you must keep in mind while buying a house in Pune:

  • Location: It is one of the most important aspects to consider before making any real estate investment. The location of your property not only determines its present value but also affects the future prospects of value inflation.

  • Builder’s Reputation: Before you finalise the deal, you must make sure that the builder has a good reputation in the market. Not only that it reduces the chances of fraud, reputed builders also use good quality material for construction and the floor planning is also better.

  • Choose a House with Clear Titles: Check the sale deed and ensure that the layout is approved by Pune Development Authority, Pune Metropolitan Region Development Authority or Pune International Airport Area Planning Authority. Also, check if the builder has a commencement certificate if you are investing in an under-construction apartment.

  • Negotiate for a Better Price: Builders often quote an inflated price. It, therefore, becomes important to bargain so that you may get the best deal possible.

Government Housing Projects in Pune

There are many housing projects by the central government and the government of Maharashtra that you can avail the benefit of. Some of the government housing projects in Pune are:

Frequently Asked Questions (FAQs) on Home Loan in Pune

✔️How to Calculate EMI for a Home Loan in Pune?

The home loan EMI depends upon the amount borrowed, the applicable rate of interest and the tenure of the loan. The formula used to calculate house loan EMI is:

E = P*r*(1+r)^n/((1+r)^n-1), where:

  • E is the EMI amount.

  • P is the principal loan amount.

  • r is the rate of interest.

  • n is the tenure or duration of the loan.

✔️How to Apply for a Home Loan Online in Pune?

You can easily apply for a home in Pune online at Bajaj MARKETS. Just visit the House Loans page on the Bajaj MARKETS website and click on “Apply Now”. Now you will need to provide a few basic details regarding your employment and your contact number. You can compare the loan offers from the various partner lenders at Bajaj MARKETS and choose the one with the lowest interest rates and favourable terms.

✔️What is the lowest interest rate on a home loan in Pune?

You can avail a house loan in Pune at interest rates starting from just 6.6% per annum.

✔️How long does it take to get a housing loan in Pune?

If you apply for a housing loan in Pune via Bajaj MARKETS, your application is approved swiftly- usually within a couple of weeks or less.

✔️What is the minimum income requirement to get a home loan in Pune?

The minimum income requirement is different for every lender. However, generally, you must have a minimum monthly income of ₹25,000 in order to avail a home loan in Pune.