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Kotak Mahindra Bank offers Home Loan interest rates ranging from 8.70% to 8.95% per annum. Check your eligibility criteria online and get instant approval for Kotak limited term home loan. The lowest Kotak Home Loan EMI is Rs 829 per Lakh for 25 years.
| Loan Amount | Up to 90% of the property cost |
|---|---|
| Rate of interest | 8.70% - 8.95% onwards |
| Tenure | Up to 25 years |
| Lowest EMI possible | Rs. 829 Per Lakh |
| Processing fee | 0.25% - 2.00% of loan amount. |
While buying your dream home, Kotak Mahindra Bank home details are something that can't be ignored. With a low interest rate starting from 8.70% - 8.95%, your EMI can be as low as Rs 829 per lakh for a tenure of 25 yrs.
Looking for 50 Lakh Home Loan? Check Interest rates, Eligibility, EMI & Apply Now !
Kotak housing loans are currently being offered at special home loan Interest rates. The scheme applies to all loan amounts.
Kotak Mahindra Bank floating rates on Home Loans are as follows:
| Segment | Interest Rate |
|---|---|
| Home Loan Rate of Interest for Salaried Person | 8.70% - 8.95% |
| Home Loan Rate of Interest for Self Employed Individual | 8.90% - 9.40% |
*Home Loan interest rates are linked to repo rates.
*Repo rate: 6.50%
*Terms & conditions applicable as per lender’s credit policy
*LTV is loan to property value ratio
*Kotak home loan interest rates also vary on individual's cibil score.
| Credit Score | SALARIED | SELF-EMPLOYED |
|---|---|---|
| >800 | 8.85% | 8.90% |
| 776 - 800 | 8.85% | 8.90% |
| 751 - 775 | 8.85% | 8.90% |
| 726 - 750 | 8.95% | 9.00% |
| 700 - 725 | 9.05% | 9.10% |
| 650 - 699 | 9.25% | 9.30% |
| <650 | 9.35% | 9.40% |
| Lender | Maximum Loan Amount | Interest Rate | Processing Fee |
|---|---|---|---|
| Kotak Mahindra Bank Home Loan | Up to 90% of property | 8.70% - 8.95% | Up to 0.50% of the loan amount + GST & statutory levies |
| ICICI Bank Home Loan | Up to 90% of property | 9.00% - 10.05% | 0.50% - 2% or Rs. 1,500 (Rs. 2,000 for Mumbai, Delhi & Bangalore), whichever is higher + GST |
| SBI Home Loan | Up to 90% of property cost | 8.40% - 10.05% | Up to 0.50% + applicable GST |
| HDFC Home Loan | Up to 90% of property cost | 8.35% - 9.40% | Up to 1.50% or Rs. 4,500 (whichever is higher) + applicable taxes |
Kotak Digi Home Loan
Kotak Home Improvement Loan
Kotak Home Loan Balance Transfer
NRI Home Loan
NRI Home Improvement Loan
| Kotak Home Loan Processing Fee - Salaried individuals |
|
| Kotak Home Loan Processing Fees - Self employed/ Professionals: | For any loan amount: 0.50% + GST & statutory dues |
| Home Loan Top Up Processing Fees - for all profiles | 0.75% + GST & statutory dues |
| Documentation Charges for both Home Loan & Top Up | Rs. 4000 (at the time of disbursement) + GST & statutory dues |
| Charge for Interest Certificate/ Account Statement | Free, once in a financial year. Afterwards, Rs. 250 +GST & statutory dues per instance |
| Switch Fee |
|
| Repayment Mode/ Account Swap charge | Rs. 500 + GST & statutory dues per instance |
| Charge for Copy of any Document | Rs. 500 + GST & statutory dues per instance |
| Charges for Duplicate NOC/ No Dues Certificate | Rs. 500 + GST & statutory dues per instance |
| Prepayment Charge on Home Loan/ Top Up- Floating | Nil |
| Part prepayment on fixed or other accounts (Prepayment allowed only after 6 months; Capped at Rs 25000 to 25% of outstanding loan) | 4% of excess prepayment over 25% of outstanding amount |
| Foreclosure of Fixed or other accounts | 4% of amount paid + prepayment in last 12 months + GST & Statutory dues as applicable |
| Commitment Fee - Home Loan | 2% of loan amount + GST & statutory dues |
| Commitment Fee - Home Improvement / Extension: | 4% of undisbursed amount + GST & statutory dues |
| Commitment Fee - Top Up | 2% of loan amount + GST & statutory dues |
| Substitute Interest (Penal Interest) | 2% per month, compounded monthly |
| Cheque dishonour charges | Rs 750 + GST & statutory dues |
| Collection charges (in case of default) | 30% + GST & statutory dues of cheque / Instrument dishonour charges + substitute interest |
| Annual renewal charge on overdraft |
|
| Non Utilization Charges |
|
| Overline Rate/ Penal Interest in case of overline accounts (Overdrawal of OD) | 3% p.m. GST & statutory dues over & above normal OD Rate |
Notes:
When applying for Kotak Home Loan, make sure you have following documents in place:
List of Kotak Mahindra Bank Home Loan documents for resident Indians:
| Proof of identity: (Copy of any one) | Passport/ Driving Licence/ Voter’s ID/ Aadhaar Card |
| Proof of residence: (Copy of any one) | Rental Agreement/ Electricity Bill/ Ration Card/ Passport (latest document, not later than 3 month old) |
| Proof of education: | Highest educational degree certificate |
| Proof of age: | Birth Certificate or Matriculation Certificate or Mark-sheet |
| Proof of income for salaried employees: | Latest salary slips or current dated salary certificate, Bank Statements showing salary credit and other EMI debits, and latest ITR. |
| Proof of income for self employed: |
|
| Signature proof: | PAN Card/ Driver's Licence/ Passport/ Banker Attested Bank Account Statements. *Please note that after providing signature proof, you will need to maintain this signature for the entire term of your loan. |
| Others |
|
NRI Applicants need to submit Appointment Letter/ Employment Letter/ Contract Copy in addition to above home loan housing documents for Income Proof, Identity Proof, Address Proof, and Age Proof.
You can conveniently check Kotak Mahindra Home Loan application status instantly by clicking on following link: Check your application status
Steps:
You can reach out to Kotak Mahindra Bank home loan customer care by call, email or visiting the branch. The Kotak Home Loan customer care center can be contacted any time between 9 am to 6 pm from Mondays to Saturdays, except holidays.
Kotak Home Loan toll-free numbers are:
To call from overseas, use 24X7 customer service.
Abroad helpline number: +91 22 6204 2001 (chargeable)
Toll free NRI Helpline Numbers- country wise
| USA | 001180044990000 |
| Australia | 00180044990000 |
| Hong Kong | 0080044990000 |
| UK | 18557684020 |
| Canada | +658001013054 |
| Singapore | +658001013054 |
| UAE | 80001830148 |
Alternatively, you can visit your nearest Kotak Mahindra Bank branch for any queries. You can also write to them via Kotak Mahindra bank website, and they will get back to you on the matter.
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It is a long established fact that a reader will be distracted by the readable content of a page when looking at its layout.
It is a long established fact that a reader will be distracted by the readable content of a page when looking at its layout.
It is a long established fact that a reader will be distracted by the readable content of a page when looking at its layout.
It is a long established fact that a reader will be distracted by the readable content of a page when looking at its layout.
It is a long established fact that a reader will be distracted by the readable content of a page when looking at its layout.
It is a long established fact that a reader will be distracted by the readable content of a page when looking at its layout.
It is a long established fact that a reader will be distracted by the readable content of a page when looking at its layout.
It is a long established fact that a reader will be distracted by the readable content of a page when looking at its layout.
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