Home Loan For Women
Reasonable Interest Rate* | Hassle Free Documentation | Fast Disbursal

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Reasonable Interest Rate* | Hassle Free Documentation | Fast Disbursal
From being a homemaker to becoming a breadwinner, the Indian woman has gained tremendous financial independence in the last few decades. With this newfound financial confidence, many women are choosing to invest in their own homes. To encourage women home buyers, Kotak Mahindra Bank offers affordable housing loans for women.
Under PMAY, single women and widows are eligible for a home loan. Women borrowers also enjoy a better approval rate and faster processing under this scheme.
Reduced stamp duty (1 % to 2 % concession) is the most important among home loan benefits for women.
Home loans for women have reduced interest rates, lowering the overall cost.
A longer tenure enables women borrowers to easily repay the complete loan.
Kotak Mahindra Bank’s home loan eligibility guidelines for women borrowers are clear and transparent.
Criteria |
Description |
---|---|
Age |
Salaried: 18 to 60 years Self-employed: 18 to 65 years |
Residential Status |
Must be an Indian citizen |
Employment |
Salaried or Self-employed |
Minimum Monthly Income |
● Rs. 20,000 per month for Delhi, Bangalore, Chennai, Mumbai, Pune ● Rs. 15,000 per month for other cities |
CIBIL Score |
Minimum credit score should be 750 |
Kotak Mahindra Bank offers the best home loan interest rate to women borrowers which is among the lowest in India.
Kotak Mahindra Bank’s simple application process makes it easier for women borrowers to apply for a home loan.
Home Loan Application Process:
Documents required for home loan for women from Kotak Mahindra Bank:
I had a great experience. I want to appreciate the Home Loan RM & branch for the customer centricity & follow ups to keep the things moving.
Reviewed on 04/11/2022
It was good experience. I preferred Kotak bank over other banks due to lower rate of interest and my existing relationship with Kotak Bank.
Reviewed on 04/11/2022
Process of getting Kotak Home Loan was smooth. Would recommend one to choose Kotak Home Loans. Also, RM, Branch team were of great support.
Reviewed on 04/11/2022
Extremely satisfied with the services provided. I really appreciate Kotak Bank & the team for their efforts in helping me buy my first home.
Reviewed on 04/11/2022
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No, a housewife cannot independently apply for a home loan for women owing to the lack of a steady income. However, she can be a co-applicant.
Yes, in the case of home loans for women, interest rates are lower. At Kotak, home loan interest rates start from 8.49 % which is among the lowest in India.
According to the home loan eligibility criteria for women, the borrower’s husband, son or unmarried daughter are allowed to be the co-applicant.
Usually, banks provide a home loan for women that is equivalent to 85 % of the property cost. In some cases with a good credit record, they may even increase the limit.
Home loan processing fees for women are usually up to 0.5 % of loan amount for salaried individuals and up to 1 % for self-employed professionals.
Home loan tax benefit can be availed on principal and interest amount as well as stamp duty when the primary or co-applicant is a woman.
Yes, an affordable home loan balance transfer facility is available to women applicants as well. The interest rate starts at 8.49 % per annum.
Most Indian states charge a stamp duty which is 5 % to 7 % of property’s total value. Women get a concession of 1 % to 2 % on already ascertained stamp duty.
Yes, women enjoy a lower EMI as most lenders offer them a lower interest rate. Kotak Bank’s home loan calculator can help you find out the exact EMI amount.
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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Clicking on ‘Apply Now’ will redirect you to a third party website.
Clicking on ‘Apply Now’ will redirect you to a third party website.
Clicking on ‘Apply Now’ will redirect you to a third party website.