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Frequently Asked Questions

What is the maximum amount I can borrow?

You can borrow up to 80% of the cost of the property in case of Home Loans. However in case of Commercial Property Loans or Loans against an existing property you can borrow up to 60% of the cost of the property.

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How will my loan eligibility be determined?

Your 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 loan amount?

You can opt for a loan period of up to 15 years, which 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.

The applicant's / co-applicant's or both incomes will be considered for eligibility. (Both incomes would be considered only if both are NRIs. If applicant is NRI and co-applicant is Resident Indian, clubbing can’t be done).

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Can I get the benefit of reduced interest rates in the intervening period or during the balance tenure of my loan?

In Floating rate loans, change in Base rate will have direct impact on the interest rate of Home Loan.

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