Urban Money

Kotak Bank Home Loan

Kotak Bank

Transform your dream of owning an abode into reality with Kotak Mahindra Bank Home Loan. With a myriad of home financing solutions available, the Bank work towards satisfying your needs by offering the lowest home loan interest rate of 7.55%. With zero processing fee, minimal documentation, home loan insurance coverage at lucrative premiums, doorstep service, and easy online applications, availing of a Kotak Home Loan is like a cakewalk. Feasible repayment options are available.

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Check Kotak Bank Home Loan Eligibility

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Urban Money

Home Loan Banks

Interest Rate

Processing Fee

Loan Amount/Tenure

Kotak Bank Home Loan Interest Rate

7.99% - 8.6%

0.5% - 1%

₹1L - ₹1Cr

Tenure(1 - 20 Years)


Features and Benefits of Kotak Bank Home Loan

Apply for a Kotak bank home loan and enjoy the following benefits and 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 1.25% 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.


  • 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 6.60%.
  • 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:
  • 18-60 years for a salaried individual.
  • 18-65 years for a self-employed individual.
  Gross Income:
  • The minimum gross income for cities like Delhi, Mumbai, Pune, Banglore, and Chennai must be Rs. 20,000 every month.
  • The minimum gross income for other cities in India must be Rs. 15,000.
  Minimal Qualification:
  • No minimum qualification is required for the employees working in a public limited company, MNC, Government sector, and Public sector.
  • A bachelor's degree is required for employees working in private limited companies or partnership firms.
Age Eligibility:
  • At the time of loan maturity, their age must be 58 years.
  • Must be a graduate individual.
  • Employed at least for three years.
Gross Income:
  • The gross income expectancy depends on the loan tenure availed by the applicant. 
  • If the loan tenure is for 5 years:
    • UK/US and other countries: US$35,000 to 40,000
    • Gulf Countries (Dirhams): DH36,000
    • Merchant Navy: US$20,000
  • If the loan tenure is for 5-15 years:
    • UK/US and other countries: US$42,000
    • Gulf Countries (Dirhams): DH48,000 
    • Merchant Navy: US$26,000

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

Kotak Bank Home Loan Interest Rate

Scheme Interest Rate for Salaried Applicants Interest Rate for Self-Employed Applicants
Any Loan Amount 6.60% - 7.10% 6.65% - 7.20%

Factors Affecting Kotak Bank Home Loan Interest Rates

Applying for Kotak Bank home loans online is quite easy and hassle-free. Check out the factors affecting your home loan application right here.

Your Association with Kotak Bank

Maintaining a good relationship with your bank always helps in easy loan processing and approval due to the mutual borrower-lender trust that builds over time. If you have been a customer with Kotak Bank and maintained clean records when it comes to your savings bank account and credit card payments, it is highly likely that you can get a good deal regarding your home loan, including attractive interest rates, shorter tenure and a hefty amount.

Repayment History

If you have already paid for a loan, then your history of repayment is as good as your credit score. A good credit score and repayment history show your worthiness as a responsible borrower. Therefore, the bank will offer a lower home loan interest rate to you.

Income Level

Having a good income can help you grab a perfect home loan at your convenience. Good income will be perceived as your capability of repaying the Kotak bank home loan.

Reputation of your Organisation

If the organisation you work in has a good reputation in the industry, Kotak bank can easily disburse your home loan as you will be deemed a trusted borrower. You will be considered an individual with a stable profession and responsibilities. This also means that the bank might just offer you lower interest rates provided your credit history is clean, and score is high.

Don't be a Defaulter

Being on the defaulter list won't help you in getting any home loan amount. The bank will either reject your loan application or will charge you a higher rate of interest. To apply for a Kotak Bank home loan, you must have 750 points or above.

Documents Required for Kotak Bank Home Loan

Salaried Individual Self-Employed Individual NRI Citizens 
  • Photographs (Passport size)
  • PAN card copy
  • Aadhaar card copy
  • Address proof
  • Birth certificate as age proof
  • Income proof (last 3 months' salary)
  • Form 16 and ITR of the previous two years
  • Bank statement for last 6 months
  • Relationship proof (if married)
  • Detailed information about the loan availed with a track record
  • Property documents
  • Photographs (Passport size)
  • PAN card copy
  • Aadhaar card copy
  • Address proof
  • Last 12 months' bank statements
  Income And Business Proof:
  • Last 3 years Income Tax Return (personal and business)
  • Computation of income of 2 years (if an existing customer of Kotak Group).
  • Profit and loss of the last 3 years along with the balance sheet.
  • Degree certificate
  Evidence of Partnership firm/ Company/HUF/LLP:
  • Deed registration and letters for partnership firm (from another partner).
  • Memorandum and Articles of Association of the company.
  • IT returns for HUF
  • Income proof
  • Banking details
  • Age proof
  • Address proof
  • Employment letter
  • Contract copy

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) 


The principal loan amount - P can range from ₹10 lakh to 10 crores.

The rate of interest - R is at 6.60%

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.

How Does Kotak Bank Compare With Other Lenders?

Take a look at the comparison of Kotak Bank's home loan interest rate with other lenders below:

Lenders For 30 Lakh Above 30 Lakh to 75 Lakh Above 75 Lakh
Kotak Mahindra Bank 6.60% onwards 6.60% onwards 6.60% onwards
State Bank of India 6.65% - 7.65% 6.60% onwards 6.60% onwards
HDFC 6.70% - 8.45% 6.70% - 8.60% 6.70% - 8.70%
Axis Bank 6.75% - 11.50% 6.75% - 11.50% 6.75% - 11.50%
ICICI Bank 6.70% - 7.55% 6.70% - 7.55% 6.70% - 7.55%
PNB Housing Finance 6.75% - 12.00% 6.75% - 12.00% 6.90% - 9.75%
Punjab National Bank 6.55% - 7.95% 6.50% - 7.65% 6.50% - 7.60%
Bank of Baroda 6.75% - 8.25% 6.75% - 8.25% 6.75% - 8.50%
Union Bank of India 6.60% - 7.60% 6.60% - 7.65% 6.60% - 7.65%
IDFC First Bank 6.50% onwards 6.50% onwards 6.50% onwards
L&T Housing Finance 6.75% – 7.75% 6.75% – 7.75% 6.75% – 7.75%
Bajaj Housing Finance 6.65% onwards 6.65% onwards 6.65% onwards
Godrej Housing Finance 6.59% onwards 6.59% onwards 6.59% onwards
Tata Capital 6.85% onwards 6.85% onwards 6.85% onwards
LIC Housing Finance 6.70% – 7.85% 6.70% – 8.05% 6.70% – 8.05%

Kotak Bank Home Loan Customer Care Number

The Kotak Bank home loan customer care number is 18602662666.


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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