Home Loan

We understand how special it feels to place the first step into your own new home. It’s exactly why Kotak Mahindra Bank provides you a bouquet of customised home loan plans to choose from, for a seamless and pleasurable home-buying experience.

Zero Processing Fee

Save on processing fees on your online application for home loan

Doorstep Service

No more running around to get your home loan processed.

Documentation made easy

Let home loan documentation not give you any more headaches

Home Loan Insurance

Insurance options to cover your home loans, at attractive premium

Attractive Interest Rates

Competitive interest rates to make home loans affordable

Quick processing

Because we understand how eager you are to get your home loan quickly

How does a Home Loan work?

Home loans are a breather for millennials today. Being funded with 75% to 80% of the property cost by Kotak, it becomes easy for any home loan borrower to go one step closer towards his/her dream home, without bearing a humungous expense at one go! The loan is usually paid back in equated monthly instalments and the amount payable per EMI usually depends on the tenure of the loan, the interest rate, the amount of the loan etc. However, we at Kotak Bank understand that buying a house is not only a sought-after ‘next step’ for you, but also a valuable investment. So, principally, we intend to simplify the entire process and make it seamless, hassle-free and memorable. Kotak provides home loans at attractive interest rates, along with extending to you an insurance policy.

What are the processing fees for a Home Loan?

At Kotak, we ensure that the processing fees are charged at a minimal amount. We charge zero processing fees for online applications. Find out more about the detailed fees and charges associated with Kotak Home Loans.

How do you calculate the EMI for your Home Loan?

The amount of EMI payable depends on the amount of your home loan, the interest rate and the tenure you are looking at. We have devised an EMI calculator to ease this process. Get hands on with our easy-to-use Home Loan EMI Calculator and calculate your monthly instalments.

Are you eligible for a Home Loan?

There are some factors which determine whether you are eligible to apply for a loan or not. These include your monthly income, the source of your income, your qualification, work and credit history, age and number of dependents, and your future plans. Check out the eligibility criteria for availing Kotak Home Loans.

What are the documents that you need for a Home Loan?

We aim to simplify the process of getting a home loan as much as possible, and hence the documents required to apply for our home loan are minimum. Along with your Home Loan application form, you’d need to provide your address proof, age proof and identity proof documents, banking details and proof of your education qualifications. You can view the complete instructional details of home loan documentation to know more.

What is the process of getting a Home Loan?

Applying for a home loan from Kotak is simple. Just fill out your personal details in the form that appears after clicking on the Apply Now button. Get a quote and apply online.

Now you can get a quick home loan sanction within 24 hours*. Kotak offers in principle approval of your home loan through a paperless process by using your income tax credentials.

In a nutshell, Kotak provides you with an affordable Home Loan right at your doorstep! It is quick, hassle free and comes with a convenient loan disbursement process. It’s time to raise the notch, with Kotak today!

Pradhan Mantri Awas Yojana (PMAY):

The Credit-Linked Subsidy Scheme (CLSS) under the Pradhan Mantri Awas Yojana (PMAY) was announced by Prime Minister Narendra Modi and envisages the vision of 'housing for all' by the year 2022. Kotak Mahindra Bank offers CLSS under PMAY, which provides interest subsidy on housing loans to eligible beneficiaries from the Economically Weaker Section (EWS)/ Low-Income-Group (LIG) and middle-income-group (MIG) segment. The subsidy can be availed for constructing or purchasing a house, as per the eligibility criteria prescribed under the scheme.

Find out more

Get Swift Approvals for Home Loan in Metro Cities

Avail quality service and home loans instantly in the top commercial and metropolitan cities of India and buy the house you have always dreamt of. Kotak Mahindra Bank is well connected across major metropolitan cities and is happy to help you whenever and wherever required!

Looking for instant home loan in top commercial cities of India? We are here to help you.

Home Loan Eligibility

We, at Kotak, lay out a simple procedure that enlists the eligibility criteria for Kotak Home Loans. Let us provide you in detail what the eligibility criteria for getting a home loan is, and what role does it play in the complete process.

Home Loan Eligibility Criteria for an Individual
- Age:
  - Salaried between 18 and 60 years old
  - Self Employed between 18 and 65 years old
- Gross Income of Resident Indian Individual:
  - (Delhi, Mumbai, Bangalore, Pune & Chennai) - Minimum income should be Rs.20,000/month.
  - (Other cities) - Minimum income should be Rs.15,000/month.
- Minimum Qualification:
  - Graduate when applicant is employed with a private limited company or partnership firm. If applicant is employed with Public limited company or MNC or Government or Public Sector Company then there is no such criteria.
Home Loan Eligibility Criteria for a Partnership Firm / LLP/Indian Company
- Should be in existence for at least 3 years.
- Gross Income of Partnership firm/ LLP/ Indian Company:
  - (Delhi, Mumbai, Bangalore, Pune & Chennai) - Minimum net income should be Rs.2,40,000/- p.a.
  - (Other cities) – Minimum net income should be Rs.1,80,000/- p.a
Home Loan Eligibility Criteria for a Hindu Undivided Family (HUF)
- Karta of HUF must be applicant / co applicant.
- Should be in existence for at least 3 years
- IT returns of HUF for 3 years should be obtained.
- Net Income of a Hindu Undivided Family:
  - (Delhi, Mumbai, Bangalore, Pune & Chennai) - Minimum income should be Rs.2,40,000/-p.a.
  - (Other cities) – Minimum income should be Rs.1,80,000/- p.a.

Am I eligible to apply for a Home Loan?

Your eligibility as determined by Kotak Mahindra Bank will help decide if you can and how much you can borrow. The information that will be required at the time of application includes the location of the property, co-applicants and your basic contact details. Once these details are submitted you shall get a quote online, followed by which, you will be able to apply for a Home Loan. You can check whether you are eligible for a Kotak Home Loan by simply using our Home Loan Eligibility Calculator.

Check your Eligibility with Kotak Mahindra Bank in 1 minute using Home Loan Eligibility Calculator.

Home Loan Eligibility Calculator

What documents are required to avail Home Loan?

Once you start the process of application, you will be required to present a few documents to the Bank for testifying your eligibility. These include:

Income proof
Banking details
Identity proof
Age proof
Signature proof
Address proof
Proof of your educational qualification.
Relationship Proof

Find out more by checking out the documents required for home loan.

Why should you apply for a Kotak Home Loan?

Kotak Home Loan not only offers you an attractive interest rate but also guides you through the entire process right from your doorstep! All the details pertaining to the EMI payments, eligibility criteria, documentation etc. are available online. With zero processing fees for online applications, we intend to fast track the loan approval process and make it memorable for you! We also extend convenient loan disbursement options and lucrative insurance options to cover your home loan at an attractive premium.

To find out what more is in store for you, read Kotak’s home loan features.

Home Loan - Required Documents

Documents Required for Home Loan

Are you looking for a sought-after customer-friendly home loan? We, at Kotak, like to offer our customers a systematic and transparent system when it comes to the documentation for Home Loans.

The process of availing a Home Loan starts as soon as an individual obtains a Home Loan Application Form, and submits it to us duly filled and signed. However, many a times, applicants face difficulty while filling up the form, and understanding the specific requirement of documents for home loan. So, in order to facilitate a hassle free process for all our customers, please find the entire list of documents required for home loan.

Documents Required to avail a home loan for a Salaried Applicant -

Photograph (passport size) - 1
Pan card copy (all applicants with relationship proof) – 1 each
Aadhaar card copy (all applicants with relationship proof) – 1 each
Residence proof copy (all applicants with relationship proof) – 1 each
Salary Slips (of all applicants whose income is considered) – last 3 months
Form 16 and ITR (of all applicants whose income is considered) - last 2 years
Bank statement in original where salary credited (of all applicants whose income is considered) – last 6 months
Bank statement of any other bank a/c (of all applicants whose income is considered) - last 6 months
Relationship proof
Details of loan availed with track record (if any existing loans)
All property documents (chain) with sanction map

Documents Required to avail a home loan for a Self Employed applicant -

In addition to KYC documents, check out the other necessary documents:

Sr. No	Documents Required for Home Loan	Self Employed Professionals (SEP)	Self Employed Non-Professional (SENP)/Co./ HUF/ Partnership Firm/LLP	Non-Resident Indians (NRI’s)
	Documentation
1	Bank statement/ pass book copy	Bank statement/ passbook for last 12 months (for applicants whose income is being considered for eligibility) of all accounts mentioned in application form mentioning name of account holders, account number, bank name and branch	Bank statements for the last 12 months – from current account and all other bank accounts mentioned in the application form	Last six months bank statements from domestic (NRE/ NRO/ FCNR/ NRNR) And salary/active international account
2	Age proof	Same as Salaried Individuals	• Same as Salaried Individuals in case of SENP. • For Co./HUF/ Partnership Firm/LLP- NA	Copy of valid passport KYC Documents of POA
3	Income proof and business continuity Proof and other documents required to avail Home Loan	•Latest 3 years income tax returns, personal and business along with computation of income (2 years for Kotak Group customers) •Latest 3 years profit and loss accounts and balance sheet with schedules duly certified by a chartered accountant. ( 2 years for Kotak Group customers) •Degree certificate	•For SENP/Co./ HUF/ Partnership Firm/LLP- same as SEP except degree certificate •Registration Proof with Tax authorities as applicable to type of Business	Income proof for fixed salary: •Salary certificate(in English) specifying name, date of joining, designation and salary details OR •Latest 3 months salary slips Income proof for variable salary: •Salary certificate (in English) specifying name, date of joining, designation and salary details for last 6 months OR •Last six months salary slips
4	Job confirmation proof/proof of	NA	NA	Proof of continuity of employment for the last 3 years. •Appointment letter/ employment contract copy (If the contract is in a language other than English, an English translation of the same attested by the Embassy/ Employer should be given) •For merchant navy employees copy of CDC (Continuous Discharge Certificate) required as an additional documet.
5	Proof of existence of partnership firm / company / HUF / LLP	•For partnership firm : - Registered partnership deed - Letter from other partners stating •For Company – Memoran- dum and Articles of association •For HUF- IT returns	Same as SEP
6	Business Profile	NA	Obtain a business profile on the letter head of the proprietorship/ partnership firm /company /HUF/LLP	NA
7	Business Reference – recommendatory	• At least 2 references. Credit Manager to decide the parties.	Same as SEP	NA
8	Power of attorney	NA	• NA for SENP • POA required for Co. / HUF/ Partnership Firm / LLP	•If the customer is overseas - As per the standard draft (Refer Legal MOPP for format) duly attested by Indian consulate at the place of residence of the NRI customer. In case NRI customer is not available in India at the time of application, attested by a public notary in the place of residence of the NRI customer •If the customer is in India - Power of Attorney is also required
9	Home Loan Repayment track record (RTR)/Proof wherever Applicable	Same as Salaried Individuals	Same as Salaried Individuals	Same as Salaried Individuals
9		Same as Salaried Individuals	Same as Salaried Individuals	Same as Salaried Individuals

Am I eligible for a Home Loan?

The primary eligibility criteria for Kotak Home Loans include:

Annual (or monthly) income
Source of your income
Your savings history
Your credit history
Your work experience
Your educational qualifications
Your age and number of dependents
Your future plans

You can read our Home Loan eligibility criteria for more details.

How much EMI do I have to pay?

The Home Loan EMI calculator works on three primary variables, which are,

The total loan amount.
The tenure of the loan that you are looking at.
The interest rate applicable in question.

You can calculate your EMI payable on our Home Loan EMI Calculator.

Why should you apply for Kotak Home Loan?

Our Home Loan is not only affordable, but our customized facilities also ensure that the process of buying your dream home is hassle free and pleasurable. Enjoy benefits of zero processing fees for online applications, attractive interest rates, quick loan disbursal, long repayment tenure, minimum documentation, insurance cover, swift doorstep services and much more!

Breathe life into your dreams with Kotak Home Loans.

Fees & Charges

Product Variant	Loan Amount Slab	Interest Rate-Salaried/Self employed Professional	Interest Rate-Self employed Non-Professional
Home Loan	Upto 30 lakhs	8.95	9.1
	30.01 lakhs-75 lakhs	9.1	9.25
	75.01 lakhs and above	9.15	9.3
Top Up loan	-	9.3	9.3
Top Up OD	-	9.5	9.5

Loan	Housing Finance
Loan Processing Charges	Zero processing fee for online application. (Upto 1.25% of Loan amount for offline application)
Documentation Charges	0.5% of the Loan amount
Stamping Charges	Applicable as per the respective State's Stamp Act
Commitment Charges	2% on loan sanctioned less amount disbursed
Overdue Interest	2% of Overdue Amount, compounded monthly
Collection Charges	30% of penal and cheque bouncing charges
Dishonour Charges Per Instance	Rs. 750.00
Swap Charges( Replacement of PDCs)	Upto Rs. 500 per Swap per Instance
Prepayment Interest / Forclosure Charges	For Individual Floating Rate Home Loans we allow full prepayment of the loan anytime (after the full disbursement of the loan) with NIL charges. For Mortgage Loans (Other than Individual Floating Rate Home Loans) we do not allow full prepayment for a period of 6 months from the date of your first EMI. 4% of Principal Outstanding +4% on amount prepaid in last 12 months
Duplicate Issue of NOC	Rs. 500/-
Solvency Certificate	Rs. 10000/-
No Due Certificate	NIL
Charges for furnishing a copy of the credit information report (CIBIL) to the applicant.	Rs. 50/-
Charges applicable in case customer requests for copies of records pertaining to his transactions ( SOA / Amortization Schedule)	Once yearly without any charge. Post that Rs. 250 per request.
APAC Reschedulement	1% of outstanding loan amount
Part Foreclosure Charge	NIL for pure Individual Floating Rate home loans. Upto 25% of outstanding with a gap of 6 month without charges, exceeding that 4% of Principal Outstanding for other products
Part Foreclosure Charge
Rebooking of Loans (due to change in borrowing structure, change of property / Asset / Collateral etc.)	0.5% of the Loan Amount Outstanding or Rs. 10000/- per event of Property Whichever is higher
Change in Installment Due Date	Rs. 5000/- + broken period interest (if any) Or 0.5% of the Loan Amount + broken period interest (if any) Whichever is less
Change in Property / Asset / Collateral	0.5% of the Loan Amount Outstanding or Rs. 10000/- per event of Property Whichever is higher
Re-issuance of Pay Order	Rs. 100/- per instance
*Taxes as applicable

Check your eligibility at Home Loan Eligibility
Calculate your EMI using Home Loan EMI Calculator

Home Loan EMI Calculator

The process of availing for a home loan comes with common questions like what would be my EMI and on what basis would this be calculated? We’ve just made your hustle easier! A Home Loan EMI Calculator is the simplest tool to understand what your monthly payment will look like.

Calculate your Home Loan EMI instantly!

My loan requirement is

INR

I m looking at an interest rate of

I plan to repay the loan amount in

Your monthly EMI is

0 INR

at 8% interest rate for 14 years

Principal:

0 INR

Interest Payable:

0 INR

Total Amount Payable:

0 INR

Apply Now

How do you use the Home Loan EMI Calculator?

Certain factors that this algorithm depends on are your home loan amount, the interest rate in question and the tenure you are looking at. The amortization schedule can be yearly or monthly, the details of which can be understood by simply contacting us.
As mentioned already, the home loan EMI Calculator makes use of the parameters enlisted below.

The home loan amount you have applied for
The interest rate required to pay on the home loan amount
The tenure you want to repay the home loan in, the maximum being 20 years

The home loan EMI Calculator will provide you with the EMI figures in seconds!

What are the processing fees applicable on a Home Loan?

At Kotak, the processing fees associated with home loans are charged at a nominal amount. We charge zero processing fees for online applications. Know more about the fees and charges associated with Kotak Home Loans.

What are the documents required for a Home Loan?In order to keep the process of Home Loan application quick and hassle free, we have mandated a set of verification documents, thus preventing you from spending undue time on gathering copies.
You need to submit the home loan application form along with the following documents,

Identity and Signature proof.
Age and Address proof.
Educational Qualification proof.
Income and Banking proof.
Relationship Proof

You can find all the other relevant details related to the documents required for home loan.

What are the various repayment options available?

We provide various customizable options when it comes to your home loan repayment. You may choose a loan period of up to 20 years or outstanding tenure of the proposed loan to be taken over, whichever is lower. The same can vary depending on your profile.

Why apply for a Kotak Home Loan?

Kotak Home Loans are available at attractive interest rates are designed to reduce the pressure of getting loans approved for customers. It comes with insurance options to cover the loans at affordable premiums and has a quick turnaround time. It is the sweetest pathway that leads you a step closer to your dream home!

Explore a world of endless possibilities with Kotak Home Loans.

Frequently Asked Questions

What is the maximum amount I can borrow for a home loan?

You can borrow up to 90% (upto 80% for original loan between Rs. 20-75 Lacs, & 75% for original loan above Rs. 75 Lacs) of the cost of the property in case of Home Loan Balance Transfer.

However in case of Commercial Loans against Property or Loans against an existing property you can borrow up to 60% of the cost of the property. The Home Loan Balance Transfer Amount shall, however, be restricted to the Outstanding Balance of Loan with the existing financer.