Kotak Mahindra Bank Home Loan

  • Interest Rate starting from 7.35%
  • Loan Amount up to 80% of Property Value
  • Loan Tenure up to 20 Years
  • Processing Fees Up to 2% of loan amount + GST
Get Kotak Mahindra Bank Home Loan

Salaried and self-employed individuals can avail of Kotak Mahindra Bank Home Loans for up to 90% of the property valuation at 7.35% interest rate and more. The loan tenure is flexible and can extend up to 20 years. They also offer a range of schemes catering to the different requirements of customers, and provide borrowers with the Home Loan Balance Transfer facility.  

Kotak Mahindra Bank Home Loan Summary
Interest Rate 7.35% onwards
Loan-to-Value Ratio Up to 90% of property value
Loan Tenure Up to 20 years
Processing Charges Up to 2% of the loan amount + GST

Note : Rates and processing fees are subject to change at the discretion of the bank or according to RBI directives.

Note: Kotak Mahindra Bank also offers Home Loan insurance options to customers.

Kotak Mahindra Bank Eligibility Criteria

Below is a list of requirements you should meet to be eligible for a Kotak Mahindra Home Loan.

An Applicant must be:
  • Between the ages of 18 and 60 years (65 for self-employed individuals)
  • An Indian Resident with a Minimum Gross Income of Rs.20,000 per month for people living in Delhi, Mumbai, Bangalore, Pune & Chennai. (Rs.15,000 per month for people living in other cities)
  • Educationally Qualified - minimum qualification required for applicants employed with a Pvt. Ltd. Company/Partnership firm is graduation while no such criteria applies for applicants employed with Public Ltd. Company/ MNC/ Govt./ Public Sector Company

The first step of your Home Loan journey is to get a clear understanding of the loan amount you are eligible for.

Use the Fincity Eligibility Calculator - enter a few required details and find out immediately.

Kotak Mahindra Home Loan Interest Rates

Home Loan interest rates by Kotak Mahindra Bank are linked to the RBI repo rate. The effective interest rate is a combination of the repo rate and a fixed spread. Kotak Mahindra Bank Home Loan interest rates currently start at 7.35%.

Interest Rate For Salaried Interest Rate For Self Employed
7.35% – 9.55% 7.55% – 9.70%

Note :The above rates are subject to change at the discretion of the banks or on the basis of RBI directives.

Kotak Mahindra Bank Home Loan EMI Calculation

Learn how much monthly EMI you will have to pay for your Kotak Mahindra Home Loan. Select your loan amount, tenure and interest rate on the Fincity Home Loan EMI calculator, and know the monthly EMI amount to be repaid in seconds.

Documents Required for Kotak Mahindra Home Loans

Below is a list of documents you will need in order to avail of a Home Loan from Kotak Mahindra Bank.

Kotak Mahindra Home Loan Documents for Salaried Individuals: 

  • Passport size photographs 
  • A copy of PAN card (all applicants) 
  • A copy of Aadhaar card (all applicants) 
  • A copy of residence proof (all applicants) 
  • A copy of age proof 
  • Income proof for salaried– 3-month salary slips (of all applicants whose income is considered) 
  • Form 16 and ITR of last 2 years (of all applicants whose income is considered) 
  • Last 6-months 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) 
  • Relationship proof 
  • Details of the loan availed with a track record (if any existing loans) 
  • All property documents (chain) with sanction map 

Kotak Mahindra Home Loan Documents for Self-Employed Individuals: 

  • Passport size photographs 
  • A copy of PAN card (all applicants) 
  • A copy of Aadhaar card (all applicants) 
  • A copy of residence proof (all applicants) 
  • Bank statement/ passbook for last 12 months (for applicants whose income is being considered for eligibility) 
  • Income proof and business continuity proof: 
  • Latest 3 years income tax returns, personal and business along with computation of income (2 years for Kotak Group customers) 
  • Latest 3 years profit and loss accounts and balance sheet with schedules duly certified by a chartered accountant. (2 years for Kotak Group customers) 
  • Degree certificate 
  • Proof of existence of partnership firm/ company/ HUF/ LLP: 
  • For partnership firm – Registered partnership deed and Letter from other partners stating 
  • For Company – Memorandum and Articles of association 
  • For HUF – IT returns

Note : The above rates are subject to change at the discretion of the banks without prior notice.

Kotak Mahindra Home Loans are available at interest rates starting at 7.35% per annum for a tenure of up to 20 years. It can be availed for property purchase, home construction, home renovation/remodeling and to buy a plot. This also comes with insurance options to cover the loan in case of death or permanent disability due to an accident.

Kotak Mahindra Bank also offers loans to finance your home improvement project. This comes at competitive interest rates and a flexible repayment tenure extending up to 15 years.

Finding a low rate Home Loan that’s tailored to your needs is no more taxing!

Finding a low-rate Home Loan that’s tailored to your needs is no more taxing! Just connect with our expert loan advisors at hl@fincity.com; get unbiased assistance for free and ensure maximum savings!