During the generation of our grandparents, monthly outgoings were minimal and were only restricted to grocery bills, utility expenses among a few others. However, for today’s generation, monthly outgoings make a different meaning all together. There are credit card bills, phone & Internet bills and various others that hang like the sword of Damocles above the heads of the payers. Among them, when one plans to buy a house through a Home loan lender, the first thing that strikes the mind of the borrower is EMI.

The respite that one gets when one thinks about the expenditure arising out of a Home loan is that property prices have mostly appreciated during normal times or have only remained stagnant during the most trying times of an economic recession. By and large, a real estate investment proposition is historically proven to be one of the best but its appetite for a relatively huge investment, triggers the reason to go for a home loan. As in the case of every major and important decision, planning the EMI plays a pivotal role while you are thinking on how to get a Home loan

Here are a few tips while planning your Home loan EMI:

  • Ideally choose the option of paying part Principal along with the Interest. Thus the impact of the EMI will be marginally softened over the loan period
  • Keep a more-than-sufficient amount in your Bank A/c. Some lenders may levy  unforeseen charges. So, you need cushion against such uncertainties
  • If you are in service, ensure that your account has adequate amount as the repayment date of most lending institutions falls on 1st, 5th or 10th of every month.
  • Do not plan your EMI by keeping expectations from salary appraisals, however stupendous be your performance at your workplace
  • With the eagerness or anxiety to complete the loan tenure, do not plan an EMI that will turn out to be harsh on your pocket
  • Keep a vigilant eye on the EMI outgoings
  • Make specific enquires regarding the Pradhan Mantri Awas Yojana with your lender. If you are eligible and once your amount is sanctioned, you can enjoy a concession on your EMI amount.
  • If you are buying a house under construction, make sure that you plan for the increment in EMI that will arise with every additional disbursal by your lender as the construction of your house progresses


A Home loan or a Housing loan is perhaps the only liability that underlines your ability to think positive and constructive. When you bite an Amla fruit, it tastes bitter initially but sweetens your tongue later. A Home loan if procured from a reliable source like Kotak Mahindra Bank, will always sweeten your life. Contact the bank to know how to apply for a Home loan

Disclaimer: Terms & Conditions Apply.
Credit at sole discretion of Kotak Mahindra Bank Ltd 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.

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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.