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Check if you meet the Eligibility Criteria

 

   

Your Age

Between 25 – 45 years

 

     

Your City

You are eligible if you live in Mumbai, Delhi, Gurgaon, Bangalore, Chennai, Pune, Hyderabad, Indore, Ahmedabad, Jaipur, Chandigarh, Surat

 

 

Net Income

Minimum INR 20,000 per month

 

Check list of documents here

*Disclaimer: Excluding Saturday, Sunday and public holidays. Subject to complying of terms and conditions herein, and completing the process.

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Frequently Asked Questions

What is the maximum amount I can borrow for a home loan?

You can borrow up to 90% (upto 80% for original loan between Rs. 20-75 Lacs, & 75% for original loan above Rs. 75 Lacs) of the cost of the property in case of Home Loan Balance Transfer.

 However in case of Commercial Loans against Property or Loans against an existing property you can borrow up to 60% of the cost of the property. The Home Loan Balance Transfer Amount shall, however, be restricted to the Outstanding Balance of Loan with the existing financer.

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How will my home loan eligibility be determined?

Your home loan repayment capacity as determined by Kotak Mahindra Bank will help decide how much you can borrow.

 Repayment capacity takes into consideration factors such as income, age, qualifications, number of dependent's, spouse's income, assets, liabilities, savings history and stability and continuity of occupation.

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In how many years can I repay the home loan amount?

You can opt for a loan period of up to 20 years or outstanding tenure of the proposed loan to be taken over whichever is lower and can vary depending on your profile.

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Who can be my co-applicant?

If you are an individual - your spouse, your parents, or even your major children can be your co-applicants. The co-owner of a property has to be a co-applicant, but a co-applicant need not be the co-owner of the property.

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When will the home loan be disbursed?

You can take the disbursement after credit, technical and legal appraisals of the property have been done, besides execution of relevant documents & deposit of original property documents is required to be completed prior to disbursement.

 Further, you should have invested your own contribution amount towards the property. 'Own contribution' is the difference between the cost of the property and the loan amount.

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