Buy Your Dream House with Kotak Home Loan | Kotak Mahindra Bank - Home Loan Stories
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25 JUNE, 2021

A home gives you financial security and emotional stability. However, buying a house is not a child’s play. Often, one has to spend all their life savings to purchase their dream house. But not anymore! With a home loan from Kotak, you can move into that dream property this year without any hassles. Learn more to find out.


Why Kotak Home Loan?
We at Kotak Mahindra Bank, provide a seamless application process and quick disbursal of the home loan amount. We offer low processing fees, no hidden charges and the facility of doorstep assistance to help make your loan application process hassle-free.

Following are some of the other benefits of availing a home loan from us

  1. Easy eligibility criteria
    To avail a home loan, you should meet the below eligibility criteria:
    • Age
      -For a self-employed applicant, the age bracket requirement is between 18 to 65 years.
      -For a salaried applicant, the age bracket requirement is between 18 to 60 years.
    • Minimum income requirement
      -For those residing in any of the metro cities (Delhi, Bangalore, Pune, Mumbai and Chennai), the minimum monthly income should be Rs 20,000.
      -And, for those residing in any other city, a minimum monthly income of Rs 15,000 is required.
    • Negligible qualification requirement
      -Graduation is a minimum education qualification requirement, if employed with a private limited company or partnership firm.
      -In case of employment with a public limited company, MNC, Government, or public sector company, there is no such qualification requirement.

  3. Minimal documentation
    Avail a Kotak home loan with minimum documents:
    • Duly filled application form
    • Passport size photograph
    • Identity documents like Voter ID, Aadhaar card, driving licence, PAN card
    • Residence proof like Passport, or utility bills
    • Property documents

    You might also be asked to submit income documents based on your occupation, along with the above-mentioned documents.

    • For self-employed applicants
      -Audited Balance sheet for the last three years.
      -Profit and loss account for the last three years.
      -Bank statement or passbook of the business and individual for the last 12 months.
      -Last 3 years of Income Tax Returns
      -Degree certificate
    • For salaried applicants
      -Salary slip for last three months.
      -Income tax returns for the last two years.
      -Form 16
      -Last 6 months bank statement where salary is credited, and a bank statement of any other bank account

  5. Low-interest rate
    At Kotak Mahindra bank, you can apply for a home loan at one of the lowest interest rates in the market. With a credit score of 750 and above, you can get a high-value loan amount from us. It is one of the lowest interest rates at present in the market.

  7. Insurance policy
    With us, you can also take a home loan insurance at attractive premiums. It will protect your family from the burden of repaying the loan in case of any unfortunate event. Many comprehensive home loan insurance plans provide cover for the applicant, home, and its contents.

With Kotak, it is easy to buy that dream property without draining your lifelong savings. All you need to do is visit the home loan section and start the application process today!

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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.