Are you looking for a Mortgage Loan?
If so, congratulations! You are a few clicks away from getting the right funds at nominal interest rates.
A loan against property (LAP), being a secured loan, attracts a much lower interest rate than an unsecured loan.
However, as with any financial tool, only looking at a mortgage loan from a perspective of what we have to pay would be inaccurate. Simply put, a LAP loan shouldn’t only offer you a reasonable interest rate but also a good value for your property, a flexible tenure for repayment, and minimal processing fees.
At Kotak Mahindra Bank, we don’t just offer a Loan Against Property; we also provide transparency with our platter of other loans.
Here is a list of all the charges that a borrower has to incur when they apply for a loan against property with us.
The interest rate payable on a loan against property depends on your occupation. For salaried borrowers, loan interest rate starts from 7.25% per annum. For self-employed borrowers, however, the interest rate on loan against property starts from 9.25% per annum and goes up to 11.50% per annum.
Kotak Mahindra Bank offers term loans as well as overdrafts. The interest rate for a term loan against property starts at 7.25% whereas the rate for an overdraft will be
You can always return to our website and find the recent numbers and updates.
With the help of Kotak Mahindra Bank’s Loan Against Property EMI Calculator, you would be able to get a rough estimate of the amount you would be paying every month in return for your loan.
To get the best or the lowest mortgage loan interest rate for Loans against property, one should improve their credit score. You should retire any pending dues and clear off your debts at the earliest.
Some factors a lender considers when they process your application are as follows: