Kotak Home Loan for Self-Employed
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  • Personal
  • Business
  • Corporate
  • Private Banking
  • Privy League
  • Solitaire
  • NRI Services
  • Investors
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Frequently Asked Questions

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Who is considered “self-employed”?

Self-employed individuals include those who earn independently through a profession or business. This includes:

  • Self-Employed Professionals (SEP): Doctors, architects, chartered accountants, consultants and freelancers
  • Self-Employed Non-Professionals (SENP): business owners, traders, shopkeepers and partners in firms, LLPs, private companies or members applying through a Hindu Undivided Family (HUF).

Whether you fall under SEP or SENP, you can apply for a Home Loan for self-employed with Kotak Mahindra Bank. 

Can self-employed applicants get the same interest rate as salaried individuals?

Yes. Kotak Mahindra Bank offers interest rate starting at 8.20% p.a. for both salaried and self-employed applicants. But the final rate offered to you will depend on your financial profile.

How is Home Loan eligibility determined for self-employed applicants?

The eligibility for a Home Loan is based on your income, business continuity and credit score. In order to get an estimate of the loan amount you qualify for, you can simply use the Kotak Home Loan Eligibility Calculator.

Can a Home Loan application be rejected for self-employed individuals?

Yes. Rejections can happen due to not meeting the eligibility criteria for income, credit score, documents or business stability. 

Does Kotak Mahindra Bank accept co-applicants for self-employed Home Loan applications?

Yes. You can add a co-applicant, such as a spouse or immediate family member, to improve eligibility or increase loan amount.