4 steps towards In-Principle approval of home loan

In-Principle approval is a process between a home loan borrower and a Bank (the lender). Under this process, the Bank assesses the financial status of the borrower. Based on this, the Bank will decide whether to approve the home loan. There is no remittance of the actual loan that takes place when the borrower gets the In-Principle approval. It is a guarantee that the Bank will give you the loan when needed provided information and documents are verified successfully.

The following is a step-by-step process towards getting an In-Principle approval of the housing loan with Kotak Mahindra Bank.

Step - 1

Fill-in your details
All you need to do is to visit our website (https://kmbl.digitalorder.finfort.ind.in/) and fill-in a form (which is easily accessible) with your details. The form is designed for ease and convenience. Provide your personal details like your name, mobile number, e mail ID, PAN details, your employment type (whether salaried or self-employed) and the loan amount which you want to avail. Post submission, you will get an order number on your email and also through SMS.

Step - 2

Log-in details
After you receive the order number and password sent on your email ID and via SMS, enter the details on the log-in page (https://borrowerportal.finfort.ind.in:8443/BorrowerPortal/login/KMBL).

Step - 3

Uploading of documents (Optional)
After completing the log-in process, upload the documents required for a home loan enlisted by the Bank. You may even choose to upload the documents at a later point of time.

Step - 4

ITR validation
Finally, you will be redirected to the income tax website where you will have to log-in for your income and employer validation. Process is complete post validation and our team will give you an In-Principal sanction post successful verification.

It is worthwhile to note that when you go through the online process, Kotak Mahindra Bank gives you an In-Principle approval within 24 hours at the click of a few buttons. Moreover, it’s paperless, hassle free, saves your valuable time and gives you the convenience to apply for a home loan from the comforts of your home or office.

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Disclaimer: This Article is for information purpose only. The views expressed in this Article do not necessarily constitute the views of Kotak Mahindra Bank Ltd. (“Bank”) or its employees. Bank make no warranty of any kind with respect to the completeness or accuracy of the material and articles contained in this Newsletter. The information contained in this Article is sourced from empaneled external experts for the benefit of the customers and it does not constitute legal advice from Kotak. Kotak, its directors, employees and the contributors shall not be responsible or liable for any damage or loss resulting from or arising due to reliance on or use of any information contained herein.