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Adarsh Sharma
Reviewed on 04/11/2022
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Make an informed decision with Kotak Bank’s Home Loan EMI Calculator. A user-friendly tool, it helps you with crucial details like home loan amount, home loan interest rates, home loan tenure and a lot more.
Interest rate is important when you apply for home loans in India. Your home loan interest rate can affect the overall EMI that you have to pay. So, it is advisable to keep it in mind whenever you are applying for a housing loan. With Kotak’s house loan you can get an attractive interest rate starting at 8.75%. Here’s more:
| Customer Type | Effective Rate Of Interest |
|---|---|
Floating Category (Repo Rate: 6.50%) |
|
For Salaried & Self-employed |
8.75% onwards |
To know what interest rate you have to pay on your home loan, you can refer to our home loan EMI calculator.
Before applying for a home loan, make sure you check your home loan eligibility. Once you fit the house loan criteria, it is easier for you to avail of a home loan. Kotak Mahindra Bank has a simple house loan requirement for its borrowers. Take a look.
| Criteria |
Salaried |
Self-Employed |
|---|---|---|
Age |
18-60 years |
18-65 years |
Minimum Income |
Residents of Delhi, Chennai, Bangalore, Mumbai, Pune: Rs. 20,000/month |
Residents of Delhi, Chennai, Bangalore, Mumbai, Pune: Rs.240000/- p.a. |
Minimum Qualification |
Bachelor’s Degree |
NA |
For best home loan, apply online via Kotak Bank’s website.
Documentation is an important aspect when it comes to a home loan. A simple and minimal home loan documentation process at Kotak Mahindra Bank branch makes it convenient for customers to apply for a home loan. Take a look at the document list for a home loan in India:
Apply Now for a Home Loan
A home loan or a housing Finance is a secured loan that provides you with finance to buy your dream home. The home loan interest rate depends on your profile and depending upon your eligibility you can get a loan as high as 90%* of the property value. You can check your eligibility online or offline by visiting your nearest Kotak Mahindra Bank branch
Borrowing a home loan can be a great way to lift off your financial burden. When you avail of a home loan, you have the privilege of repaying the borrowed amount in smaller installments, rather than arranging for a large sum of money at once. That’s why, many home buyers choose to borrow a house loan.
Kotak Home Loan understands how precious your investment is for you, and funds 75 to 80 % of your property cost. The home loan process is simple, convenient and seamless. Lucrative housing loan interest rates and home loan insurance premiums are an important advantage of Kotak Home Loans.
You can switch from one type of interest rate to another. You can achieve this by paying switch charges levied by the lender.
Availing of a home loan is a huge undertaking. That is why the government has introduced several provisions in the Income Tax Act to lessen the home loan burden on the taxpayers. These deductions are on the interest amount, principal amount, stamp duty and registration charges, pre-construction interest and even for the first-time home buyers.
Home loan comes in various types. Here are a few of them:
Find more information about how to get a home loan on Kotak Mahindra Bank’s website.
Kotak Mahindra Bank’s home loan comes with minimal fees and charges. The home loan processing fee is based on the principal amount and tenure. The processing fee also differs depending on the type of employment of the applicant. For a salaried applicant, the processing fee is up to 0.5% while for a self-employed applicant the fee is up to 1%. Visit our website to know more about how to get a home loan.
There are various factors that banks use to decide whether you are eligible for a home loan or not. These factors are:
The EMI amount you have to pay is based on the principal amount of your home loan, the interest rate, and the home loan tenure . You can effectively calculate the monthly installments with our easy-to-use Home Loan EMI Calculator.
Kotak Mahindra Bank has a simple and minimal documentation process, which makes the whole housing loan process hassle-free and easier. To know what kind of home loan documents you are required to submit, visit our official website.
Buying your own house requires a lot of financial commitment, especially if you want to buy a house in a metro city. However, to get a Kotak home loan, you must meet some eligibility criteria. These are:
Know the detailed overview of the process here
You can pay off any existing balance of Home Loan using Kotak’s Home Loan Balance Transfer at a lower rate of interest.
If you are an NRI and are looking for a Home Loan, Kotak provides you just that. Check out our NRI Home Loans section.
If you are looking for renovating your home, you can do so by taking Kotak’s Home Improvement Loans
To encourage women home buyers, Kotak Mahindra Bank offers affordable housing loans for women.
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.
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