Hyderabad has been the seat of numerous dynasties, and till date, she effortlessly enthralls every visitor with her splendour. Popularly known as the city of Nizams, Hyderabad is a potpourri of many exciting things. The city is a treat for those who admire history, cultures, architecture, pearls and the finest biryani one could find across the world. Ideally located, the city has emerged as a cosmopolitan hub with the influx of multi-lingual professionals.
With business-friendly and pro-growth policies laid by the state government, the city is experiencing a rise in commercial as well as residential spaces alike. Housing experts are forecasting that with Hyderabad becoming a natural eco-system for the aerospace and defence electronics, IT, life sciences and biotech companies, the city is sure to generate lucrative opportunities for professionals further leading to a realty boom.
Though the city seems to be a promising destination to migrate for better career opportunities and standard of living, finding the job of your choice and a home you would like, can be challenging. It is important to be financially stable and have funds in the back-up when you plan to migrate. While you plan to own a home in Hyderabad, the price of a flat is not the only expense you will have to bear. You should also consider other factors like travel, food, medical facilities, educational institutes, utility bills, etc.
Given the scenario, applying for a home loan in Hyderabad can help you save a substantial amount from your savings which you would have to pull out if paid outright. A home loan leads you in owning an asset that yields appreciation year-on-year as well as tax benefits.
At Kotak Mahindra Bank, we offer you bespoke solutions for your financial needs, one of them being the housing loan. To ensure that your home-buying experience in Hyderabad is a memorable one, we offer you highly customizable services. Our home loans come with attractive interest rates and a tenure of up to 20 years for salaried and up to 15 years for self-employed.
We do understand about your busy schedule and hence provide you doorstep service, where our home loan executive will visit you to explain the entire application process, and to help you understand the entire housing loan eligibility
criteria and formalities.
Also, be rest assured that at Kotak Mahindra Bank, you can get an in principle approval of your home loan in 24 hours* by using your Income Tax login credentials. As our valued customer you are entitled to other benefits:
Check your housing loan eligibility to apply for a home loan in Hyderabad.
You can also use the home loan emi calculator to calculate your monthly instalments.
To avail a home loan in Hyderabad 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 Hyderabad.
Eligibility criteria for an Individual to apply for a home loan in Hyderabad -
Eligibility criteria for a Partnership Firm / LLP/ Indian Company to apply for a home loan in Hyderabad-
Eligibility criteria for a Hindu Undivided Family (HUF) to apply for a home loan in Hyderabad -
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 Hyderabad.
Documents required for a salaried applicant to apply for a home loan in Hyderabad-
Documents required for self-employed and NRI applicants to apply for a home loan in Hyderabad -
In addition to KYC documents, check out other necessary documents -
| Sr. No |
Home Loan Documents | Self Employed Professionals (SEP) | Self Employed Non-Professional (SENP)/Co./ HUF/ Partnership Firm/LLP |
Non-Resident Indians (NRI’s) |
|---|---|---|---|---|
| Documentation | ||||
| 1 | Bank statement/ pass book copy |
Bank statement/ passbook for last 12 months (for applicants whose income is being considered for eligibility) of all accounts mentioned in application form mentioning name of account holders, account number, bank name and branch | Bank statements for the last 12 months – from current account and all other bank accounts mentioned in the application form | Last six months bank statements from domestic (NRE/ NRO/ FCNR/ NRNR) And salary/active international account |
| 2 | Age proof | Same as Salaried Individuals | • Same as Salaried Individuals in case of SENP. • For Co./HUF/ Partnership Firm/LLP- NA |
Copy of valid passport KYC Documents of POA |
| 3 | Income proof and business continuity Proof and other documents required to avail Home Loan | •Latest 3 years income tax returns, personal and business along with computation of income (2 years for Kotak Group customers) •Latest 3 years profit and loss accounts and balance sheet with schedules duly certified by a chartered accountant. ( 2 years for Kotak Group customers) •Degree certificate |
•For SENP/Co./ HUF/ Partnership Firm/LLP- same as SEP except degree certificate •Registration Proof with Tax authorities as applicable to type of Business |
Income proof for fixed salary: •Salary certificate(in English) specifying name, date of joining, designation and salary details OR •Latest 3 months salary slips Income proof for variable salary: •Salary certificate (in English) specifying name, date of joining, designation and salary details for last 6 months OR •Last six months salary slips |
| 4 | Job confirmation proof/proof of | NA | NA | Proof of continuity of employment for the last 3 years. •Appointment letter/ employment contract copy (If the contract is in a language other than English, an English translation of the same attested by the Embassy/ Employer should be given) •For merchant navy employees copy of CDC (Continuous Discharge Certificate) required as an additional documet. |
| 5 | Proof of existence of partnership firm / company / HUF / LLP | •For partnership firm : - Registered partnership deed - Letter from other partners stating •For Company – Memoran- dum and Articles of association •For HUF- IT returns |
Same as SEP | |
| 6 | Business Profile | NA | Obtain a business profile on the letter head of the proprietorship/ partnership firm /company /HUF/LLP | NA |
| 7 | Business Reference – recommendatory | • At least 2 references. Credit Manager to decide the parties. |
Same as SEP | NA |
| 8 | Power of attorney | NA | • NA for SENP • POA required for Co. / HUF/ Partnership Firm / LLP |
•If the customer is overseas - As per the standard draft (Refer Legal MOPP for format) duly attested by Indian consulate at the place of residence of the NRI customer. In case NRI customer is not available in India at the time of application, attested by a public notary in the place of residence of the NRI customer •If the customer is in India - Power of Attorney is also required |
| 9 | Home Loan Repayment track record (RTR)/Proof wherever Applicable | Same as Salaried Individuals | Same as Salaried Individuals | Same as Salaried Individuals |
Check the features and benefits of applying for home loan in Hyderabad.