Documents Required for Home Loan Application Online - Kotak Bank

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Frequently Asked Questions

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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What kind of security is required?

In most cases, the property itself, bought or intended to be bought, becomes the security till the entire loan is repaid.

 In some cases additional security such as life insurance policies or Term Deposit receipts of Kotak Mahindra Bank (if available) can be provided.

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Does the property have to be insured?

Your home is your pride and joy. Don't let unplanned events take it away. Property insurance will take care of home in case an unforeseen event strikes.

Also, we offer Insurance options to cover your Loan Liability. That way, you will be at peace that you and your loved ones will not lose your home.

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Can I sell the property even when the Home loan is outstanding?

No, borrower cannot sell property without clearing outstanding home loan amount of existing bank/financial institution.

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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.

* Rs. 5,000 Flat processing fee applicable for women applicants.