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Chennai is among the best Indian cities to live in, thanks to its consistent development and increasing work opportunities. A home loan in Chennai can make it easy to buy a home in this beautiful city. Kotak Mahindra Bank provides a housing loan in Chennai with the best of deals.
Before borrowing a housing loan in Chennai, it’s crucial to understand the important features of the deal. Kotak Mahindra Bank offers you a plethora of benefits on a home loan in Chennai:
You can easily fulfill your dream of buying your own home in Chennai with these features of Kotak Mahindra Bank’s Home Loan in Chennai.
A home loan in Chennai from Kotak Mahindra Bank comes with attractive interest rates. That helps in reducing your overall home loan EMI and makes your housing loan in Chennai an affordable one. The interest rate varies from applicant to applicant, depending on the nature of the applicant’s employment. Take a look:
| Customer Type | Effective Rate Of Interest |
|---|---|
Floating Category (Repo Rate: 6.50%) |
|
For Salaried and Self-employed |
8.75% onwards |
For best home loan deals in Chennai, apply for a Home Loan from Kotak Mahindra Bank.
You can easily avail of a home loan in Chennai when you suit the lending bank’s eligibility criteria. Kotak Mahindra Bank’s housing loan in Chennai has these requirements:
- For salaried applicants: 18 to 60 years
- For self-employed applicants: 18 to 65 years
- For both salaried and self-employed applicants minimum gross income requirement is Rs. 20,000 per month
- In case of applicants employed with private and partnership firms graduation is the minimum educational qualification required
- In case of applicants employed with public limited companies or MNC or government service there is no such requirement
Partnership Firm/LLP/Indian Company/Hindu Undivided Family
Kotak Mahindra Bank has a simple documentation process for a home loan in Chennai. Here’s what you need to submit to borrow a housing loan in Chennai:
Kotak Mahindra Bank’s application process to get a home loan in Chennai is easy. A housing loan in Chennai can also be availed via an online application. Here’s how:
Apply Now for a home loan in Chennai
Kotak Mahindra Bank offers the lowest possible interest rate of 8.7% per annum for a home loan in Chennai.
You can use a Home Loan Calculator provided on Kotak Mahindra Bank’s official website to find out what will be the total amount to be repaid by you against the amount borrowed.
Your home loan repayment capacity as determined by Kotak Mahindra Bank decides the maximum amount you can borrow.
Repayment capacity depends upon factors such as your current income, age, qualifications, number of dependents, spouse's income, assets, other liabilities, credit score, stability, and continuity of occupation. In general, your loan amount can go up to 90% of your property value.
For a home loan in Chennai, the minimum salary requirement is Rs. 20,000.
However, it is important to understand that there are multiple factors that contribute to the borrower’s eligibility. So, before applying for a home loan in Chennai, do check whether you are eligible for a home loan.
Kotak Mahindra Bank is the top choice for Home Loans in Chennai due to our competitive interest rates, hassle-free application process, and swift loan approval. Our commitment to serving the financial needs of the people of Chennai has made us a trusted name.
Branch Address:
Kotak Mahindra Bank Limited, 5th Floor, Samson Towers, No. 402 L Pantheon Road, Egmore, Chennai -600008
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.
