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Frequently Asked Questions


What is the current interest rate for mortgages?

Kotak Mahindra Bank provides one of the lowest mortgage interest rates. The interest rate mainly depends on the nature of employment. For salaried individuals/ self-employed borrowers, the loan against property interest rate starts from 9.25%.

Does the interest rate vary based on the type of property?

Yes. The type of property against which you are taking a loan does affect the rate of interest. For example, a residential property offers a better mortgage loan interest rate than a commercial property. Even in the case of residential property, the interest rates vary. A property situated in a prime location with better amenities has a lower interest rate. 

How much can you borrow against the property?

When it comes to the amount of mortgage loan you can borrow, Kotak Mahindra Bank offers one of the most flexible amount disbursals. You can avail of a loan from Rs. 10 lakh to Rs. 10crores, which you can repay within the tenure of your choice. Kotak Mahindra Bank also offers attractive interest rates.

Is a loan against property taxable?

You may enjoy tax benefits by claiming business expenses under section 37(1) of the income tax act. If the funds are utilized to buy another property then tax benefits can be enjoyed under 24(B). However, no tax benefit is applicable if the funds are utilized for personal needs or to transform the mortgaged property.

What is Kotak’s interest rate for Loan Against Property?

Kotak Mahindra Bank offers attractive mortgage loan interest rates. For salaried individuals, / self-employed borrowers the loan against property rate of interest starts from 9.15% per annum. These are among the lowest interest rates in India. 

How can you check for the latest LAP Interest Rates?

You can always return to our website and find the recent numbers and updates.

What is the meaning of mortgage loan interest?

A mortgage loan interest rate is a charge levied by the bank or the lender upon the borrower. It is a percentage of the total loan amount disbursed and is usually charged on an annual basis. The interest rate can affect the EMI that you have to pay. A lower interest rate helps in reducing the financial burden.

Loan Against Property Interest Rate