Want to buy a Home but unable to fulfill your dream due to lack of finance, here what Kotak Home Loan comes closer to you. Making it possible & easier to achieve your goal. Affordable EMI let’s stressless Life.
Home Loan Features & Benefits
Features:-
- Simple Documentation to disbursement process
- Doorstep Service by Kotak
- Lowest Interest Rates
Benefits:-
- Zero processing fee for online applications
- Insurance option available to cover your home
- Zero fee on foreclosure/prepayment
KOTAK Bank Various types of Home Loans
Kotak Bank Home Loan: -Kotak Mahindra aid you obtain home loan at market lowest rates & flexible tenure period.
Kotak Home Loan Balance Transfer: - Why you should pay higher interest rates while you have the option to lower your existing home loan interest just by transferring existing home loan from other banks to Kotak Mahindra bank.
Kotak Bank Home Improvement Loan: - This facility allows you to get loan for renovating & repairing your current home loan condition to make it better.
Kotak Bank NRI Home Loan: - Are you left your own country for some reason & want to own a separate place where you can spend quality time with your family, worry not let your fantasy come true through the help of Kotak bank.
| List of KOTAK Home Loan Scheme | Salaried Interest Rates | Self-Employed Interest Rates |
| Kotak Bank Home Loan | Min – 6.85% - Max- 8.35% p.a | Min – 6.95% - Max- 8.45% p.a |
| Kotak Home Loan Balance Transfer | Min – 6.65% - Max- 8.25% p.a | Min – 6.85% - Max- 8.60% p.a |
| Min – 6.85% - Max- 8.60% p.a | Min – 6.95% - Max- 8.40% p.a | Min – 7.00% - Max- 9.10% p.a |
| Kotak Bank NRI Home Loan | Min – 6.75% - Max- 8.30% p.a | Min – 7.85% - Max- 8.45% p.a |
KOTAK Home Loan Interest Rate & Processing fees
| Processing Fees | Up to 0.25% |
| Interest Rate | 6.65% - 7.30% |
| Maximum Tenure | Up to 20 years |
Type of Other Charges by KOTAK Home Loan
Loan processing charges: - For below 30 lakh borrowing you will be charged 0.25% & for above 30 lakh 0.50% will be charged as a processing fee (it's a non-refundable amount).
Interest Certificate Charge: - For each year you will be able to get interest certificate for free of cost but for each instance Rs.250 will be charged.
Disburse Charge: - On disbursement you will be charged 4000/-
Prepayment Charges: - NIL
Account swapping for repayment mode: - For each account swapping you will be charged 500/-
Late payment charges: - 2% will be imposed on each month late payment.
Cheque bounce charges: - For each cheque bounce you will be charged 500/-
CIBIL Checking Charges: - For each time CIBIL report checking you will be charged 50/-
Any Documents set of copy: - For each set of documents copies you will be charged 500/-
Also Read:-5 Top Factors Determine Your Working Capital Loan Approval
KOTAK Home Loan Eligibility
| Age | 18– 65 years |
| Employment Type | Salaried and Self-employed professional and non-professional |
| Minimum Salary for Salaried | Rs.20,000 per month |
KOTAK Home Loan Eligibility Criteria for Salaried: -
- Applicant must be resident of India
- Applicant age should be in-between 18 to 60 years
- Minimum 2 years of work experience
KOTAK Home Loan Eligibility Criteria for Professional: -
- Applicant age should be in-between 18 – 65 years
- Doctor, CA, Architect, Lawyers, Consultant, Engineer & CS can apply for Home Loan on Professional category.
KOTAK Home Loan Eligibility Criteria for Self-Employed: -
- Any individual filling income tax returns are eligible
- Maintain good financial records
- Minimum 3 years of existing business
Also Read:-What is Bank Guarantee
KOTAK Home Loan Documents Required
Salaried & Self-employed are required to provide any one of the following for identity proof: -
- Aadhaar Card
- Driving License
- Passport
- Election/ Voter ID Card
- PAN Card
Salaried & Self-employed are required to provide any one of the following for residence proof: -
- Passport
- Aadhaar Card
- Driving License
- Election/ Voter’s ID Card
- Bank Account or Post Office Savings Bank Account statement
Salaried & Self-employed are required to provide any one of the following for Age proof: -
- Aadhar Card
- Valid Passport
- Voter ID
- Birth Certificate
Salaried & Self-employed are required to provide any one of the following for Income proof:-
- Latest 6 months bank statement
- Income tax returns or form 16
Salaried & Self-employed are required to provide below mentioned mandatory documents:-
- Proper filled loan application with 2 colored passport size photographs
How to apply for KOTAK Home Loan Online?
Step 1 - You can apply for KOTAK MAHINDRA Bank home loan through visiting their website KOTAK MAHINDRA bank.com or visit the nearest KOTAK MAHINDRA branch bank.
Step 2 - Before that check your eligibility criteria meet well or not from your end to avoid loan rejection. If yes you may download home loan application form by online or collect it from nearest branch bank.
Step 3- Fill the required details of your personal & occupational & attach KYC & mandatory documents. Note: - Check twice before submitting the loan application.
Step 4 – Once your loan application approved then, you will need to provide property documents upon which you are taking the loan for further legal review & evaluation of property.
Step 5 – After evaluation done on property, shortly your loan approval take place where your loan sanctioned then, loan amount will be credited to your respective account.
Also Read:-Pradhan Mantri Mudra Loan Yojana
Kotak Home Loan FAQ
Is Kotak Bank good for Home Loan?
Kotak Mahindra bank home loan services are too good & fast. They have helped millions of individual dreams of owning home come true by providing exclusive benefits for their home buyers.
How to apply Home Loan in kotak Bank?
You can visit your nearest kotak bank branch or applying digitally through visiting their official website & share your personal information so that their representative will able to contact you.
How much Home Loan can i get?
Hopefully, you can get up to 85% of property value as a maximum loan amount at the same time different factors are considered on determine your eligibility.
How to get kotak Home Loan Online?
Getting kotak bank home loan online is too easy, you just need to visit their site & click on the apply now button, where you will be offered with 3 facilities home loan, balance transfer & top-up loans. If you are cleared with your choose click one of them if not then simply request for a call back shortly customer representative will you in touch.
How to use kotak Home Loan Calculator?
Through the use of technology anyone can easily use kotak mahindra bank home loan calculator without doing mathematical calculations on mind, just you need to enter loan amount, interest rate & tenure to get monthly scheduled EMI chart.
Does kotak Home loan Interest Rate to 6.65%?
Yes, in recent times, Kotak Home Loan rate of interest cut by 6.65% for making it affordable for customers to easily get a home loan.
KOTAK MAHINDRA Home Loan Customer Care
You can directly visit KOTAK MAHINDRA Site & fill basic details to continue online chat
Kotak Mahindra Bank Home Loan 24×7 Customer Care Number
1860 266 2666 (Local charges applied)
+91 22 6600 6022 (Overseas charges applied)
Apply Now:-Business Loan
9863-02-02-02