Check Home Loan Documentation Charges & Processing Fees

Home Loan Processing Fees

The cost you pay for a product or a service matters and is important. When we talk of financial products, especially home loans, there are several additional services that you might need while taking a loan, during the tenure or at the time of closing the loan. To make it simpler and transparent for you, here is a list of all such services and the associated home loan fees and charges.

Please refer the General Schedule of Features and Charges (GSFC) for your Home Loan (revised with effect from October 1,2020) click here

Fees & Charges

Fees and Charges - GSFC
Processing Fee (Non-Refundable)	Loan Amount	Salaried	Self Employed	Top Up/Commercial Purchase
	< INR 30 Lakhs	0.25% plus GST and Statutory dues	0.50% plus GST and Statutory dues	1% plus GST and Statutory dues
	>INR 30 Lakhs	0.50% plus GST and Statutory dues	0.50% plus GST and Statutory dues	1% plus GST and Statutory dues
Documentation Charges (Non-Refundable)	INR 4000 (at the time of disbursement) plus GST and Statutory dues
Charges for Interest Certificate / Account Statement	Free once in a Financial Year. Thereafter, INR 250/- (plus GST and any other applicable statutory dues) per instance
Switch Fee	Switch to Lower Rate in Floating rate Loans (Housing / Extension / Improvement) : INR 10,000 plus GST and Statutory dues if any (Or) Switch in Benchmark Index and Lowering of Floating Rate Interest: INR 15,000 plus GST and Statutory dues if any
Repayment Mode I Account swap charges	INR 500/- (plus GST and statutory dues) per instance
Charges for Copy of any Document	INR 500/- (plus GST and statutory dues) per instance
Charges for Duplicate NOC I No Dues Certificate	INR 500/- (plus GST and statutory dues) per instance
Prepayment Charges	NIL For HL Top up: Micro & Small Enterprises - NIL Floating rate Term Loans for Individuals for Personal Purpose - NIL Others : No prepayment / foreclosure is allowed until a Lock-in Period of 6 months after EMI Commencement. Post this lock– in period, part prepayment of minimum INR 25,000 and maximum of up to 25% of outstanding Loan Amount can be made without any prepayment charges every 6 months. The minimum period between any two prepayment shall be at least 6 months. For any Part Prepayment in excess of 25%, 4% (plus GST and statutory dues) of the excess prepayment Amount shall be charged as Prepayment Charges. For Full Prepayment any time after the Lock-in-Period, Prepayment charges shall be 4% (plus GST and other applicable taxes) of the Foreclosure Loan Amount plus Amounts prepaid during the last 12 months.
Commitment Fee (Non compliance of Sanction Terms)	Home Loan : 2% of the loan amount plus GST and other statutory Dues Home Improvement / Extension : 4% of the undisbursed amount of the loan plus GST and other statutory Dues Home loan Top - Up : 2% of the loan amount plus GST and other statutory Dues
Substitute Interest (Penal Interest)	2% per month compounded monthly
Cheque dishonour Charges	INR 750/- (Inclusive of GST and other applicable statutory dues per instance)
Collection Charges (in case of Default)	30% (plus other applicable statutory dues) of Cheque / Instrument dishonour charges plus substitute interest
OVERDRAFT FACILITY
Annual Renewal Charges	0.25% of the limit (dropped limit after reduction of annual drop) shall be collected on the due date of renewal. Not Applicable for Smart Home Loan OD product.
Non Utilization Charges	0.25% of the OD non-utilized limit subject to minimum OD Limit utilization threshold of 50% quarterly, subject to minimum of INR 1250 + GST, chargeable on quarterly basis. For E.g. OD Limit : 50,00,000 OD Threshold for Utilization (50%) : 25,00,000 OD Limit Utilized : 10,00,000 Differential : 15,00,000 Charges : INR 3750 plus GST applicable
Overline Rate/ Penal Interest in case of overline accounts (Overdrawal of OD)	3% p.m. (plus GST and any other applicable statutory levies) over and above the normal OD Rate. This would be charged on the amount over and above the OD limit.
Notes: • Stamp Duty on Loan Agreement, Overdraft Agreement, Guarantor Agreement, Registration Charges etc. varies from State to State. Stamping/ Notarisation of RBI and other Affidavits as applicable. • Charges for other Services would be specified as applicable when the Customer applies for those services and the same shall be payable by the borrower alone e.g. Revalidation of Sanction, Change in Property, Reschedulement of Loan, Change in EMI Date, Solvency Charges etc. • Taxes/ other statutory levies may be charged to the Borrower if applicable as per Government/ RBI directives.

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Frequently Asked Questions

When will the home loan be disbursed?

You can take the disbursement after credit, technical and legal appraisals of the property have been done, besides execution of relevant documents & deposit of original property documents is required to be completed prior to disbursement.

Further, you should have invested your own contribution amount towards the property. 'Own contribution' is the difference between the cost of the property and the loan amount.

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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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What is processing fees in home loans?

Processing fees is a one-time charge collected while availing a fresh home loan. A processing fee of upto 0.5% of loan sanction amount (as applicable) plus GST, is payable.

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Home Loan Processing Fees

Fees & Charges

Have specific doubts? Talk to our Home Loan Advisor

Ready to take the next step?

Frequently Asked Questions

When will the home loan be disbursed?

What is an amortization schedule?

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

What is processing fees in home loans?

Home Buying Guide

Latest Comments

Related Products

Home Loan Balance Transfer

NRI Home Loan

Personal Loan

Savings Account

Home Improvement Loans

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