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Frequently Asked Questions

How will my loan eligibility be determined?

Your repayment capacity as determined by Kotak Mahindra Bank will help decide how much you can borrow.

Repayment capacity takes into consideration factors such as income, age, qualifications, number of dependent's, spouse's income, assets, liabilities, savings history and stability and continuity of occupation.

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Who can be joint borrowers in case of a Home Loan?

Co-Borrower can be spouse, parents or brother or son, but income of co-borrower is consider as per home loan policy of Kotak Mahindra bank.

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What is the maximum number of Joint borrowers for a Home Loan?

There is no capping of upper limit of number of co-borrower, however minimum one co-borrower is required.

Note: Member who all are party to agreement must have to come up as o borrower / co-borrower.

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What is an amortization schedule?

An amortization schedule is a table detailing each periodic payment on Loan as generated by an amortization calculator. Amortization refers to the process of paying off a debt (often from a loan or mortgage) over time through regular payments. A portion of each payment is for interest while the remaining amount is applied towards the principal balance. The percentage of interest versus principal in each payment is determined in an amortization schedule.

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What is the usual time required for disbursement of a Home Loan?

In Kotak Mahindra Bank time require for disbursement is 2 working days after submitting all relevant document as per legal or any other document required.

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Disclaimer (Things you should know):

For loans: Credit at the sole discretion of the Bank and subject to guidelines issued by RBI from time to time. Bank may engage the services of marketing agents for the purpose of sourcing loan assets.

* Rs. 5,000 Flat processing fee applicable for women applicants.