Home Loan in Chennai

Chennai is one of the finest metropolitan cities in the South to call home. The city is peppered with upscale locales that imbue a modern and cosmopolitan way of life. Chennai is a city that opens its doors to all, to enjoy a life of sanctity and peacefulness.

As many may tell you Chennai is a city of many traditions. However these traditions have embraced the new, while still keeping at its core, the culture and flavour of the city that resides by the Bay of Bengal.

Chennai is a city that offers the best in all walks of life. Whether it's the delicious food that locals are proud to call their own, or the modern streets that boast of shopping, schools and the finest urban infrastructure.

When it comes to housing in Chennai, the city offers some of the best gated communities and residential parks to call home. Residences are supported by modern infrastructure like the best schools, hospitals, parks and restaurants all within a close range, depending on where you intend to put your money into buying a home. Chennai has all this to offer and more, so what are you waiting for?

When buying a home in Chennai, financing the residence is one of the factors that overshadows the decision. That's where home loans come into perspective, making financing a home an easier decision.

When thinking about home loans, think Kotak Mahindra Bank that offers housing loans  at attractive interest rates. Kotak Mahindra Bank Home loans are easy to apply for with zero processing fee and interest rates that allow you to buy a home without feeling the financial crunch.

Applying for a loan from Kotak Mahindra Bank is easy with a convenient loan disbursal process and simplified documentation. You can also acquire insurance options that protect your investment by covering your housing loans  with attractive premiums.

To keep things simple, Kotak Mahindra Bank also has an extended tenure for home loans up to 20 years and a quick turnaround time.

As a Kotak Bank customer you get a profusion of benefits with your home loan, like:

• Loan disbursal with minimum downtime
• Straight dealings with no hidden charges or conditions
• Zero processing fee for online applicants
• Courteous door-step service
• Insurance options to shield the Home Loan plan that come with an attractive premium
• Pradhan Mantri Awas Yojana (PMAY) compliant

Check your housing loan eligibility to apply for a home loan in Chennai.

Also, you can get hands on with our easy to use Home Loan EMI Calculator  and calculate your monthly instalments.

Kotak Mahindra makes acquiring a home loan easier. To know more, visit your nearest Kotak Mahindra Bank branch.

To avail a home loan in Chennai from Kotak Mahindra Bank, we have a predefined home loan eligibility criteria.

Based on different types of applicants, here is the list of criteria that has to be fulfilled while applying for a home loan in Chennai.

Eligibility criteria for an Individual to apply for a home loan in Chennai-

• Minimum 18 years of age and Maximum 60 years
• In case of self-employed: Maximum 65 years of age
• Gross Income of the individual residing in Chennai should be minimum Rs. 20,000/month. 

Eligibility criteria for a Partnership Firm / LLP/ Indian Company to apply for a home loan in Chennai -

• Should be in existence for at least 3 years
• Minimum net income should be Rs. 2,40,000 p.a.

Eligibility criteria for a Hindu Undivided Family (HUF) to apply for a home loan in Chennai -

• Karta of HUF must be applicant / co applicant.
• Should be in existence for at least 3 years
• IT returns of HUF for 3 years should be obtained
• Minimum net income should be Rs. 2,40,000/-p.a.

Minimum Qualification -

Graduate when applicant is employed with a private limited company or partnership firm. If applicant is employed with Public limited company or MNC or Government or Public Sector Company then there is no such criteria.

Check the list of required documents to apply for home loan in Chennai.

While submitting your application form, it is necessary to submit few supporting documents. Based on the type of applicant, we have made a list of documents required to apply for a home loan in Chennai:

Documents required for a salaried applicant to apply for a home loan in Chennai-

• One photograph (passport size)
• Pan card copy (all applicants with relationship proof)
• Aadhaar card copy (all applicants with relationship proof)
• Residence proof copy (all applicants with relationship proof)
• Salary Slips (of all applicants whose income is considered) – last 3 months
• Form 16 and ITR (of all applicants whose income is considered) - last 2 years
• Bank statement in original where salary credited (of all applicants whose income is considered) – last 6 months
• Bank statement of any other bank a/c (of all applicants whose income is considered) - last 6 months
• Details of loan availed with track record (if any existing loans)
• All property documents (chain) with sanction map

Documents required for self-employed and NRI applicants to apply for a home loan in Chennai -

In addition to KYC documents, check out other necessary documents -