Kotak Bank Home Loan
Kotak Bank Home Loan now helps in buying your dream home. The Kotak Bank Home Loan satisfies your needs by offering the lowest interest rates, zero processing fees, minimal documentation, home loan insurance coverage at lucrative premiums, doorstep service, and easy online applications. Now it has become very easy to apply for Kotak Home Loans.
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Check Kotak Bank Home Loan Eligibility
Home Loan Banks | Interest Rate | Processing Fee | Rating | Loan Amount/Tenure | |
|---|---|---|---|---|---|
Kotak Bank Home Loan | 8.9% - 9.6% | 0.5% - 1% | ₹1L - ₹1Cr Tenure(1 - 20 Years) | Details |
Features and Benefits of Kotak Bank Home Loan
Apply for a Kotak bank home loan and enjoy the following benefits and features.
Features
- You can avail of 90% value of your property as the loan amount.
- The maximum tenure offered is 20 years.
- No penalty is levied on prepayment and is allowed only after 6 months.
- The processing fee is 0.5% - 1% of the total value of your loan amount.
- Easy loan balance transfer.
- Home loan insurance is available. It will help in repaying the loan amount in case of any mishaps.
Benefits
- Avail attractive floating and fixed interest rates as per your preference.
- Low processing fee.
- Zero paperwork.
- Zero prepayment charges.
- Easy process of home loan balance transfer.
- The application process is transparent.
- Repayment options are flexible.
- Assistance at your doorstep.
Kotak Bank Home Loan Overview
A Kotak Bank home loan is one of the most reliable home loan products in India. With low-interest rates, minimal documentation and flexible tenures, it ensures that you can buy your desired property hassle-free. The fourth-biggest bank in India, Kotak Bank, has 1369 branches and 2163 ATMs across 689 locations in India.
- Offers loan disbursals within 2 days.
- Interest rate starts at as low as 8.65%.
- Comprise home loan products for both nationals and NRIs.
Kotak Bank Home Loan Eligibility Criteria
Below written are the Kotak Bank home loan requirements and eligibility criteria.
| For Indian Citizens | For NRI Citizens |
Age Eligibility:
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Age Eligibility:
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Note: Salary must be regular either on a weekly, fortnight or monthly basis. The salary must be disbursed through cheque or direct bank credit but must not be in cash.
Kotak Bank Home Loan Fees and Charges
| General Fees | Charges |
| Processing Fee | Up to 1% of loan amount and Statutory Dues |
| Documentation Charges | Up to Rs. 10,000 |
| Commitment Fee | 2% of the undisbursed amount of the loan |
| Charges of Cheque Dishonour | Rs. 750 (GST and other applicable statutory levies for each) |
| Charges for Copy of Documents | Rs. 500 each |
| Repayment Mode and Account Swap Charges | Rs. 500 each |
| Charges for Duplicate NOC and No Dues Certificate | Rs. 500 each |
| Charges for Copy of CIBIL Report (to Customers who has Loan Overdraft from the bank) | Rs. 50 each |
Documents Required for Kotak Bank Home Loan
| Salaried Individual | Self-Employed Individual | NRI Citizens |
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How Does the EMI Calculation Work For Kotak Bank Home Loan?
You can compute your EMIs (Equated Monthly Investments) by knowing the principal loan amount, rate of interest and the maximum tenure offered by Kotak Bank. Here is the formula used for EMI calculation for Kotak Bank Home Loan.
The formula for calculating the EMI amount is:
EMI = (P × R × (1+r)^n)/((1+r)^n-1)
Where,
The principal loan amount - P can range from ₹10 lakh to 10 crores.
The rate of interest - R is at 8.65%
The loan tenure - n can be up to 20 years
You can also use the Kotak Bank home loan EMI calculator and plan your finances accordingly.
Kotak Bank Home Loan Customer Care Number
The Kotak Bank home loan customer care number is 18602662666.
Need Loan Assistance?
Connect with Home Loan Advisor Now!
Kotak Bank's Calculators
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EMI Calcualtor
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Kotak Bank's Other Products
Kotak Bank's IFSC Codes
- Kotak Bank Andhra Pradesh
- Kotak Bank Assam
- Kotak Bank Bihar
- Kotak Bank Chandigarh
- Kotak Bank Chhattisgarh
- Kotak Bank Dadra and Nagar Haveli
- Kotak Bank Delhi
- Kotak Bank Goa
- Kotak Bank Gujarat
- Kotak Bank Haryana
- Kotak Bank Himachal Pradesh
- Kotak Bank Jammu and Kashmir
- Kotak Bank Jharkhand
- Kotak Bank Karnataka
- Kotak Bank Kerala
- Kotak Bank Madhya Pradesh
- Kotak Bank Maharashtra
- Kotak Bank Odisha
- Kotak Bank Puducherry
- Kotak Bank Punjab
- Kotak Bank Rajasthan
- Kotak Bank Tamil Nadu
- Kotak Bank Telangana
- Kotak Bank Tripura
- Kotak Bank Uttarakhand
- Kotak Bank Uttar Pradesh
- Kotak Bank West Bengal
Home Loan By Other Banks
- Axis Bank Home Loan
- Bank of Baroda Home Loan
- HDFC Bank Home Loan
- ICICI Bank Home Loan
- Bajaj Finserv Home Loan
- Canara Bank Home Loan
- IndiaBulls Home Loan
- YES Bank Home Loan
- DHFL Home Loan
- CITI Bank Home Loan
- Union Bank of India Home Loan
- Federal Bank Home Loan
- IndusInd Bank Home Loan
- State Bank of India Home Loan
- IDFC FIRST Bank Home Loan
- Hero FinCorp Home Loan
- Punjab National Bank Home Loan
- IDBI Bank Home Loan
- Godrej Housing Finance Home Loan
- Tata Capital Housing Finance Limited Home Loan
- HDFC Sales Home Loan
- Indian bank Home Loan
- Vastu Housing Finance Home Loan
- Capital First Ltd. Home Loan
- Home First Finance Company Home Loan
- Hero Housing Finance Home Loan
- Clix Capital Home Loan
- Aditya Birla Finance Limited Home Loan
- Housing Development Finance Corporation Home Loan
- L&T Finance Home Loan
- HSBC Home Loan
- LIC Housing Finance Home Loan
- Reliance Capital Home Loan
- Fullerton India Home Loan
- Bank of India Home Loan
- IIFL Finance Home Loan
- Piramal Housing Finance Home Loan
- Edelweiss Financial Services Home Loan
- Poonawalla Fincorp Limited Home Loan
- Aadhar housing Finance Home Loan
- DCB Bank Home Loan
- Punjab National Bank Housing Finance Home Loan
- Capri Global Home Loan
- Punjab & Sind Bank Home Loan
- Muthoot Finance Ltd Home Loan
- karnataka bank Home Loan
- Bank of Maharashtra Home Loan
- Ujjivan Small Finance Bank Home Loan
- RBL Bank Home Loan
- Cholamandalam Finance Home Loan
- Deutsche Bank Home Loan
Financial Calculators
Mutual Fund Scheme
Mutual Fund Sector
Gold & Silver Rate
FAQs
From refinancing to reducing your interest, we have the answers right here.
What is the minimum salary for a home loan?
The minimum salary for a home loan must be Rs. 20,000 for Delhi, Banglore, Pune, Chennai and Mumbai. It is Rs 15,000 for the other cities in India.
Does Kotak Bank have a fixed rate of interest on a home loan?
No, Kotak bank does not have a fixed rate of interest. They offer both floating and fixed rates of interest.
How to apply for a home loan in Kotak Bank online?
To apply for a Kotak bank home loan online, you need to visit the bank’s official website. Go to Explore Products, select Home Loan and click on Apply Now. Enter your credentials and property details and pay the application charges. After this, a relationship manager from the bank will get in touch with you and will guide you to upload further and submit documents and wait for the approval.
How to check home loan status in Kotak Bank?
To check your Kotak Bank home loan status online, you need to visit the bank’s official website, go to the Help Centre and select Home Loan. From the drop-down, select the sixth option, Home Loan Application Status. On the redirected page, you will find three tabs regarding branches, telephone communication information and digital communication information. Choose the one that suits you best. You will get all the contact details to know your status on the next page.
What is the minimum CIBIL Score for Home Loan for Kotak Bank?
The minimum CIBIL score for a Kotak Bank home loan is 750 points.
What is the maximum and minimum home loan amount I can get from Kotak Bank?
The maximum loan amount you can avail yourself is 20 years, and the minimum is 3 years.
What are the KYC documents I will have to submit to apply for a home loan from Kotak Bank?
You have to submit a copy of your Passport, Voter’s Identity Card, Driving Licence, and Aadhaar Letter/Card.
Can I foreclose my home loan availed from Kotak Mahindra Bank?
Yes, you can foreclose the home loan in Kotak Bank. There is no foreclosure fee on home loans for floating interest rates.
Are the processing fees for Kotak Mahindra Bank home loans refundable?
Kotak Mahindra Bank does not refund the processing fees levied on home loans. However, it does not charge a processing fee on home loan applicants if they fill the form online.
What is the amount of disbursal time taken by Kotak Mahindra Bank for a Home Loan?
Kotak Mahindra Bank proclaims to disburse the number of home loans within 2 working days.
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