Kotak Mahindra Bank Home Loan

Kotak Mahindra Bank Home Loans starting at just 8.7% p.a.

Kotak Mahindra Bank offers attractive interest rates on home loans starting at 8.7% p.a..The loan tenure can be extended up to 25 years, ensuring a Read More...

Use the loan for various needs - buying a new house (ready-built, under construction, or pre-owned), building a new home, or renovating your existing one. You can even switch your existing home loan from another bank to Kotak mahindra bank.The bank charges a processing fee of up to 1% of the loan amount plus applicable taxes

Kotak Mahindra Bank Home Loan Highlights

Loan Amount	No upper capping
Tenure	Upto 25 years
Rate of Interest	8.7% onward
Processing Fee	Salaried: Rs.15000/- plus GST Self-Employed & Self-employed Professionals: 1% of the loan amount + GST
Prepayment/Foreclosure Charges	Nil
Max Tenure	25 years
Foreclosure Charges	Nil

Kotak Mahindra Bank Home Loans Comparison Table

Compare Kotak Mahindra Bank Home loan interest rates with other lenders to find the best deal. See how Kotak Mahindra Bank competitive rates stack up in our comprehensive comparison table.

Name of Lender	Amount Up to	Interest Rate	Tenure
Axis Bank	₹10 cr	8.75% Onwards	Up to 20 years

Kotak Mahindra Bank Home Loan EMI calculator

Enter the loan amount, interest rate, and loan tenure into the Kotak Mahindra Bank home loan EMI calculator below to determine your monthly EMI and the total interest due over the loan period.

Principal: ₹50,00,000

Rate of Interest: 9%

Tenure (in months): 120

EMI: ₹63,337.89

Total interest: ₹26,00,546.8

Total principal: ₹50,00,000

Kotak Mahindra Bank Home Loans Eligibility

Kotak Mahindra Bank standard Home Loan

Kotak Mahindra Bank Home Renovation Loans

Kotak Mahindra NRI Home Loans

Kotak Mahindra Bank standard Home Loan

Kotak Mahindra Bank provides home loan options to applicants for purchase of ready built property, purchase of under construction property, purchase of pre-owned homes, Purchase of Plot, Plot + Construction of a House, construction of a house, extension of house and repair/renovation

Kotak Mahindra Bank Home Loan Schemes

Kotak Mahindra Bank provides a range of home loan schemes with interest rates starting from 8.7%, including options like Regular Home Loan with benefits for women and no pre-payment fees, Rural Housing Loans for people in rural areas, Home loan balance transfer for home loan borrowers. Each scheme includes a processing fee of 1% with varying minimum and maximum amounts.

Loan Type	Interest Rate (p.a.)	Processing Fee	Special Features
Kotak Mahindra Bank Standard Home Loan	From 8.7% onwards	Salaried: Rs.15000/- plus GST Self-Employed & Self-employed Professionals: 1% of the loan amount + GST	No pre-payment charges Age 18-60 eligible
Kotak Mahindra Bank Home Renovation Loans	From 8.7% onwards	Salaried: Rs.15000/- plus GST Self-Employed & Self-employed Professionals: 1% of the loan amount + GST	No pre-payment charges Age 18-60 eligible
Kotak Mahindra Bank Home Loan Balance Transfer	From 8.7% onwards	Salaried: Rs.15000/- plus GST Self-Employed & Self-employed Professionals: 1% of the loan amount + GST	No pre-payment charges Age 18-60 eligible
Kotak Mahindra Bank NRI Home Loan	From 8.7% onwards	Salaried: Rs.15000/- plus GST Self-Employed & Self-employed Professionals: 1% of the loan amount + GST	No pre-payment charges Age 18-60 eligible

Kotak Mahindra Bank Home Loan Processing Fees and Charges

Kotak Mahindra Bank Home Loan Processing Fees

Kotak Mahindra Bank Home Loan Application charges

Kotak Mahindra Bank Home Loan Prepayment charges

Kotak Mahindra Bank imposes a processing fee of 1% on the home loan amount for salaried and self-employed professional applicants, with a minimum charge of Rs.1000/- plus applicable GST.

How to Apply for Kotak Mahindra Bank Home Loan?

Prospective borrowers interested in an Kotak Mahindra Bank home loan have the option to apply online either through the bank's official website, as outlined below:
Apply here

Via the Kotak Mahindra Bank Official Website

Visit the Kotak Mahindra Bank Home Loan official website.
Click on Apply now
Enter the necessary details to determine the eligible loan amount.
Complete the required information on right side and tap "Submit".

Documents Required for Kotak Mahindra Bank Home Loan

Following is the list of documents required for different categories of customers

Kotak Mahindra Bank Home Loan list of documents for Salaried

Kotak Mahindra Bank Home Loan list of documents for Self-employed professionals

Kotak Mahindra Bank Home Loan list of documents for Self-employed

Kotak Mahindra Bank Home Loan list of documents for Farmers

Kotak Mahindra Bank Home Loan list of documents for NRIs

Kotak Mahindra Bank Home Loan list of documents for Salaried

Identity and residence proof (KYC), such as an Aadhaar, PAN card, or Voter ID card.
Income proof, such as the last 3 months salary slip, the latest Form 16, and a six-month bank statement.
A Cheque for The Processing Fee for The Loan Application.
Property Documents Such as Sale Deed, NOC From the Builder or Housing Society, Advance Payment Receipt to The Builder, And Approved Construction Plan.

Property Related Documents

For New Home

Allotment letter copy/Buyer agreement
Payment receipt made to the developer

For Resale Home

Title deeds including previous chain of property documents
Agreement to sell copy
Initial payment receipt made to the seller

For Construction

Title deed of plot
Copy of the plan approved by Local Authorities
No encumbrance proof on the property
The total estimate of construction by a Civil Engineer/Architect

Kotak Mahindra Bank Home Loan Balance Transfer

Kotak Mahindra Bank offers Balance Transfer of home loan that enables a customer to transfer home loan from Scheduled Commercial Banks (SCBs), Private and Foreign Banks, Housing Finance Companies (HFCs) registered with National Housing Bank (NHB) and Borrowers employers if they are Central/State Govt or their undertakings or Public Sector Undertaking subject to condition that the borrower should satisfy the eligibility criteria for availing Home Loan as per the bank' instruction and has serviced interest and/or installment of the existing loan regularly, as per the original terms of sanction. The borrower should have valid documents evidencing the title to the house/flat.

Kotak Mahindra Bank Home Loan Amount (LTV Ratio):

Loan Amount	Loan Percentage
Up to and including Rs 30 lakh	Up to 90% of property cost
Rs 30.01 lakh - Rs 75 lakh	Up to 80% of property cost
Above Rs 75 lakh	Up to 75% of property cost

Kotak Mahindra Bank Home Loan Customer Care

Kotak Mahindra Bank Home Loan Customer Care Toll-Free Number

Kotak Number	Team	Working Window
1860 266 0811	811	08.00 AM to 08.00 PM (Monday to Saturday excluding Bank holidays)
1800 266 6666	Privy	24*7 (For all Privy Customer)
1860 266 2666	Banking Related Complaints	24*7
1860 266 2666	Credit card and Credit Card mis-sell Related Helpline	24*7
1860 266 2666	Personal, Payday and Home Loan	9:00 AM to 7:00 PM (Monday to Saturday excluding holidays)
1800 209 5732	Car loan / Two Wheeler Loan	Mon - Sat (9:30 AM - 6:30 PM)
1800 2022	Gold Loan - Apply for new Gold Loan	Mon - Sat (9:30 AM – 7:00 PM, Except on Bank Holidays)
1800 209 5600	Commercial Vehicles Finance Loan / Gold loan for service related query / Agriculture loan	Mon - Sat (9:30 AM - 6:30 PM, Except on Bank Holidays)
1800 209 0000	Fraud or any unauthorized transaction in your Account / Credit Card	24*7
1860 266 7777	Consumer Durable Loan, Smart EMI Card, Debit Card EMI	09:30 AM to 07:00 PM (Monday to Saturday excluding holidays)
1860 2666 888 (Local call charges apply) 180030069090	NETC Fastag	24*7
1860 266 5700	Agri SME Business	Monday to Saturday (9:30 AM to 6:30 PM, excluding holidays)

Kotak Mahindra Bank Home Loan FAQ’S

Here are some of the frequently asked questions with regards to Kotak Mahindra Bank Home Loan

What is the current interest rate for Kotak Mahindra Bank home loans?

Kotak Mahindra Bank offers home loans starting from 8.7% p.a., varying based on the applicant's credit profile.

How do I calculate the interest cost for my Kotak Mahindra Bank home loan?

You can determine the interest cost using the Kotak Mahindra Bank Home Loan EMI Calculator. Simply input your loan amount, tenure, and interest rate into the calculator to obtain instant results.

What factors contribute to the fluctuation of Kotak Mahindra Bank home loan interest rates?

Kotak Mahindra Bank adjusts its housing loan rates in accordance with the repo rate. Changes in the repo rate prompt adjustments in the rates for existing Kotak Mahindra Bank home loan borrowers. Additionally, Kotak Mahindra Bank may modify the spread over benchmark rates during special or festive home loan offers.

Who is eligible to be a co-applicant for an Kotak Mahindra Bank Housing Loan?

Co-owners of the property must also be co-applicants for the Kotak Mahindra Bank Housing Loan. However, not all co-applicants need to be co-owners; close family members are typically permitted as co-applicants.

Can I make early payments toward my outstanding home loan amount?

Yes, partial or full prepayment of your home loan amount is allowed before the loan tenure ends. Kotak Mahindra Bank does not impose prepayment charges on home loans with floating interest rates.

How can I lower my Kotak Mahindra Bank Home Loan interest rate?

You can reduce your Kotak Mahindra Bank Housing Loan interest rate by transitioning from a higher interest rate to a lower one. Kotak Mahindra Bank charges a conversion fee for rate reductions, or alternatively, you can transfer your home loan to another lender offering lower rates.

What are the pre-closure charges for Kotak Mahindra Bank home loans?

Kotak Mahindra Bank does not levy prepayment fees on home loans with floating interest rates. For fixed-rate home loans, prepayment incurs a fee on the outstanding loan amount plus applicable taxes, except when using own sources for pre-closure.

What is the disbursement process for Kotak Mahindra Bank Home Loans?

After property and document verification and completion of the 'own contribution' or down payment, Kotak Mahindra Bank sanctions the home loan. Disbursement can be requested online or offline and is contingent on construction progress.

Is my spouse's income considered in calculating the home loan amount?

Yes, your spouse's income can bolster your home loan eligibility. Your spouse must provide income documents to Kotak Mahindra Bank for consideration.

What is the minimum credit score required for Kotak Mahindra Bank Home Loan applicants?

While Kotak Mahindra Bank doesn't specify a minimum credit score, it offers lower rates to applicants with scores of 750 and above.

Can I secure home loan approval while still deciding on a property?

Yes, you can apply for pre-approved home loan facilities based on your financial status, creditworthiness, and income. Property selection must occur within 6 months of loan sanction.