Kotak Bank Home Loan
Kotak Mahindra Bank’s Home Loan is designed to make your dream of owning a home a reality. They cater to diverse financial needs With loans up to 90% of the property’s value. Enjoy flexible repayment tenures of up to 25 years, allowing for manageable EMIs that align with your financial planning. The application process is streamlined and transparent, featuring minimal documentation and doorstep service for your convenience. Additionally, Kotak Bank provides hassle-free balance transfer options, enabling you to shift your existing home loan. Whether buying your dream home, building it from the ground up, or giving your current space a fresh makeover, Kotak housing loans are tailored to meet your unique needs at every step.
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Kotak Bank Home Loan
Interest Rate
8.65% - 12%
Loan Amount
₹10L - ₹10Cr
EMI Per Lakh
₹2,059 - ₹2,224
Processing Fees
Pre-Payment Charges
Quick Approval
Plan Offered
Term Loan
Showing Data for CIBIL Score 750 - 1000
Kotak Home Loan
CIBIL: 750 - 1000
CIBIL: 0 - 700
CIBIL: 701 - 749
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Kotak Home Loan
CIBIL: 750 - 1000
View more
CIBIL Score range
CIBIL: 750 - 1000
CIBIL: 0 - 700
CIBIL: 701 - 749
Showing Data for CIBIL Score 750 - 1000
- Salaried
- Self-Employed
- Self-Employed (Non-Professional)
Loan Amount | Loan Type | Men (ROI) | Women (ROI) |
---|---|---|---|
Below 75 Lacs | New | 8.75% | 8.75% |
Above 75 Lacs | New | 8.80% | 8.80% |
- Salaried
- Self-Employed
- Self-Employed (Non-Professional)
City | Loan Amount | Loan Type | Men (ROI) | Women (ROI) |
---|---|---|---|---|
Mumbai | Below 75 Lacs | New | 8.75% | 8.75% |
Above 75 Lacs | New | 8.80% | 8.80% |
Last updated on: 15, Aug 2025
Features and Benefits of Kotak Bank Home Loan
Following are the key features and benefits of Kotak Mahindra home loans:
Low Interest Rate
A low-interest rate matters tremendously, as it can make a big difference in your financial future. Kotak Bank home loan offers interest rates starting at just 8.75. This ranks among the best in the market, making it a more appealing and affordable option to borrowers. This can ultimately empower you to save thousands of your hard-earned money on your monthly repayments, thereby reducing the overall financial burden on your budget. Hence, you can confidently buy your dream home without worrying about hefty EMIs.
High in Loan Tenure
Kotak Mahindra Bank home loan proffers you the flexibility to choose your loan tenure at your convenience and repayment capability. Namely, you can select your repayment duration ranging from 5 to 25 years. By doing so, you can adjust your home loan EMIs to perfectly align with your monthly income and effectively minimise the chances of default. Moreover, the Bank offers the flexibility of starting with lower EMIs and gradually increasing them as your income grows, ensuring a comfortable repayment journey.
Generous Loan Amount
Kotak Mahindra home loans provide up to 90% of the property’s market value. If you are looking for a home loan with a substantial amount, Kotak Bank home loan is an ideal option for you. Although, it is crucial to recognize that the ultimate loan amount is contingent upon several factors, such as your CIBIL Score, monthly income, property demand, and overall creditworthiness. Notably, you can use the Kotak Mahindra Home Loan Calculator via the Urban Money website, thereby easily estimating the loan amount you can avail of from the Bank.
Completely Digital
Nowadays, you can easily secure the Kotak home loan online, eliminating the need to visit a Bank branch. Hence, say goodbye to tedious paperwork and time-consumable bank visits and instead embrace the convenience of an end-to-end online application process. Notably, you can avail of these online services via the official website of Urban Money anytime, providing 24×7 assistance. And the entire process would hardly take around 10 minutes. And above all, the Bank offer a 50% discount on the processing fees for all digital applications.
Multi-Purpose Loans
Kotak Mahindra Bank home loan is catered not only for buying a property or home. The Bank extends its purpose further, making it a more borrower-friendly option. Namely, you can avail of this home loan for various purposes such as buying a ready-made or under-construction housing property, purchasing a plot and constructing a house on it, extending or renovating your existing house, transferring your outstanding house loan balance, or (almost) anything which pertinent your home requirements.
Tax Benefit
Opting for a Kotak Mahindra home loan makes you eligible for tax deductions. These tax deduction benefits typically come under Section 24(b) or Section 80C of the Income Tax Act, 1961, subject to specific conditions and limits. It is important to note that you become eligible for this tax deduction once the property construction is completed and you have acquired the possession certificate. You can utilise the Urban Money tax benefit calculator to gain further insights into your tax benefits. You can easily locate access to this handy calculator from the official website of Urban Money.
Moderate Documentation
Kotak home loans require only basic documents. Typically, the bank demand documents regarding your age proof, income proof, property proof, and account statement. Moreover, you can conveniently submit these documents online anytime and anywhere, without any time or geographical constraints.
Types of Kotak Bank Home Loans
To accommodate a variety of housing demands, Kotak Mahindra Bank provides a wide range of home loan options. These consist of loans for building or buying a house, remodelling or improving an existing home, or renegotiating the terms of an existing loan. Here are some of the Kotak Mahindra Bank housing loan types:
Home Renovation Loan
Kotak Mahindra Bank’s home improvement loans are designed to renovate or upgrade homes. Borrowers can benefit from customised loan amounts, flexible tenures, and affordable interest rates.
Feature | Details |
Loan Amount |
|
Loan Tenure | Flexible repayment terms, with a maximum of 25 years, subject to retirement age and borrower profile. |
Ownership Type | Both individual and joint owners can apply. |
Interest Rate | The floating interest rate starts at 8.75% for salaried and self-employed individuals. |
Home Loan For Women
Kotak Mahindra Bank’s Home Loan Balance Transfer allows customers to switch their existing home loans to Kotak Mahindra Bank for better interest rates and repayment terms.
Feature | Details |
Eligibility Criteria |
|
Higher Approval Rates | Women enjoy higher approval rates, especially under schemes like Pradhan Mantri Awas Yojana, which supports single working women and widows. |
Reduced Stamp Duty | Women borrowers receive a 1%- 2% concession on stamp duty, which can save ₹50,000-₹1,00,000 on a ₹50,00,000 property. |
Lower Interest Rates | Reduced interest rates lead to lower EMIs, enabling borrowers to save more and repay comfortably. |
Flexible Repayment Tenure | Longer tenures reduce the financial burden and ensure hassle-free repayment. |
By Professions By Property By Other
Kotak Bank Home Loan Fees and Charges
Prior to applying for a Kotak home loan, it is crucial to clearly understand the various fees and charges associated with the loan. Namely, apart from the interest rate, the predominant fees and charges that a borrower must pay to the bank are processing fees. This one-time charge typically encompasses the expenses related to document verification, credit history assessment, property valuation, and other administrative costs associated with your loan approval. Generally, the processing fee is paid only after your loan application is approved and is usually deducted from the loan amount disbursed. Moreover, besides the processing fees, an ideal borrower should also consider for other fees and charges they might encounter throughout the repayment journey. Let’s take a look at the list of major fees and charges for Kotak Mahindra bank home loan:
Type of Charge | Amount |
Interest rates | 8.75% – 9.35%(for salaried applicants); 8.80% – 9.60%(for self-employed applicants) |
Processing fee | Up to 0.5%(for salaried applicants); Up to 0.1%(for self-employed applicants) |
Upfront processing fee | Rs. 5,000 |
Cheque Bounce Charges | Rs 500 |
Pre-Payment/foreclosure Penalty | For up to 3 years: 4%; For after 3 years: 2% |
Max Tenure | Up to 25 years |
Loan Amount (LTV Ratio) | Up to 90% of property value |
Documents Required for Kotak Bank Home Loan
There are several documents you need to submit along with your application process. The Bank uses these documents to verify your identity and assess your creditworthiness. Hence, it is crucial to approach this stage of your application process with more care and precision.
Following are the required document you need to submit for the Kotak bank home loan:
- Application Form: A duly signed application form with a photograph
- Proof of Identity: Aadhaar card, voter card, driving licence, passport, etc.
- Proof of Address: Ration Card, electricity bill, water bill, property tax receipts, post-paid mobile bill, etc.
- Proof of Income: Salary receipts, form 16, bank statements for the last six months
- Proof of Business: Tax returns for the past 3 years, balance sheet, profit and loss statement (applicable to self-employed individuals).
- Proof of Property: Sales deed, stamped agreement of sale, copy of construction plan, copy of cost estimates, legal scrutiny report, encumbrance certificate, property tax paid receipt, allotment letter.
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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 Home Loan EMI Calculator to calculate the EMI for Kotak home loans, making it more easy and quick. To avail of this handy tool, you can follow these simple steps:
- Visit the official website of Urban Money
- Tap the “hamburger button,” which you can locate at the top right corner of the home page.
- Upon tapping the hamburger button, an array of options will be displayed on your screen. You can find the “Bank Calculators” option and click on it there.
- Subsequently, you will be redirected to another page where you can view a variety of calculators from different banks.
- Select the “Kotak Bank Calculators,” thereby you can locate an array of calculators offered by Kotak Bank. These include Kotak Bank Home Loan Calculator, Kotak Bank Business Loan Calculator, Kotak Bank FD Calculator, and more.
- Click the Kotak Home Loan EMI Calculator, and enter the required details, such as your desired loan amount, loan tenure, and interest rate.
- You can also adjust the sliders to change the values and see how they affect your eligibility.
- In a jiffy, the calculator will display the estimated monthly EMI you must pay. Moreover, you can view a breakdown of the principal and interest amount and the total payable sum of your home loan.
- You can also view the detailed repayment schedule and amortisation table by clicking on the ‘View Repayment Schedule’ button.
Apply For Home Loan from Kotak Bank upto 5 Crore and Calculate EMIs
Balance Transfer Kotak Mahindra Bank Home Loan
Balance transfer is transferring your existing loan from one bank to Kotak Mahindra Bank due to lower interest and better terms. Namely, Kotak Bank offers a home loan balance transfer facility, featuring an interest rate commencing at just 8.75% p.a., coupled with tenures extending up to 20 years. Furthermore, the bank provides the opportunity to obtain a top-up loan alongside the balance transfer, catering to your supplementary financial needs. And the interest rate on a top-up loan tends to be lower than that of a personal loan or a credit card, rendering it a cost-effective solution.
Let’s take a look at the step-by-step process involved in the balance transfer of a Kotak Mahindra Bank home loan.
- First, you must inform your existing lender and demand a no objection certificate (NOC) or consent letter from them.
- Second, you need to apply for a balance transfer home loan with Kotak Mahindra Bank and submit the required documents, such as KYC, loan statement, property papers, NOC, etc.
- Finally, the new lender will verify your documents and eligibility and pay off the outstanding loan amount to your existing lender.
FAQs
From loans to affordable interest rates, we have the answers for everything you need to know.
What is the maximum loan amount I can get from Kotak Mahindra Bank?
There’s no fixed answer. Some walk away with ₹30–40 lakhs, while others walk away with crores. Kotak offers up to ₹40 crores, depending on your income and financial transparency. A higher income and steady property value improve chances. If you have multiple loans or a patchy credit history, the amount will be reduced. You won’t know until they run the numbers.
Can self-employed professionals apply for a Kotak Mahindra Bank home loan?
Is CIBIL score important for getting a home loan from Kotak Mahindra Bank?
Is CIBIL score important for getting a home loan from Kotak Mahindra Bank?
That’s one of the first things they look at. If your score’s strong, great—you move ahead faster and probably with better terms. But if it’s sitting low, even if everything else looks okay, it’ll slow things down. You may still be eligible for the loan, but it might not be on the best terms. Sometimes they reduce the loan amount, sometimes the rate’s higher. It all starts with that number. So yeah, check it early.
Can NRIs apply for a home loan with Kotak Mahindra Bank?
Yes, NRIs are eligible. Kotak does offer home loans for people living abroad. You’ll need to share a few additional documents, such as your passport, visa, and proof of your accommodation overseas. Usually, the bank also requires a Power of Attorney holder in India to manage things on your behalf. The rest is mostly standard—they’ll check your income, make sure the property is clear, and then move it along. It takes a bit longer than a regular loan, but it’s manageable.
What is the processing fee for Kotak Mahindra Bank home loans?
It typically accounts for 1% of the loan amount. Sometimes, less, depending on the loan and whether there’s an offer going on. The fee covers all their internal checks—credit, property, legal, all that. You won’t know the exact amount until they go through your case. Therefore, it’s best to request a clear breakdown early. Saves confusion later.
Are there any prepayment or foreclosure charges for Kotak Mahindra Bank home loans?
If your loan has a floating rate, you can usually make extra payments or pay it off early without penalties. However, fixed-rate loans are different and might include charges, particularly if the loan was taken in a company or business name. The specific rules depend on your agreement, which many people overlook, leading to issues later. It's advisable to review the terms carefully before planning a prepayment.
What is the repayment tenure for Kotak Mahindra Bank home loans?
You can go up to 25 years if needed. That’s the upper limit they offer. But the final number depends on how old you are, what your income looks like, and how much you’re borrowing. Someone in their 30s might get the full stretch. If you’re closer to retirement, they’ll probably tighten it. It’s not always about what you want—it’s about what they think is safe based on your profile.
What is the minimum and maximum tenure allowed for Kotak Mahindra Bank home loans?
The lowest is usually around 5 years. The longest is 25. However, it’s not something you can simply pick up and get. If your income is low or your age is on the higher side, they’ll cut it short. If things look promising, a young age and a stable salary might offer more flexibility. You’ll only know the actual tenure after they check all your documents.
Can I transfer my existing home loan to Kotak Mahindra Bank?
Yes, they allow balance transfers. If your current bank is charging a higher rate or you’re just not happy with the terms, Kotak can take over the loan. They’ll review your repayment history, property papers, and verify that everything’s in order. If it is, the switch happens. Some people also request a top-up during the transfer—if your profile allows, Kotak may approve this as well. But expect full paperwork again. It’s like applying fresh.
When does Kotak Mahindra Bank disburse the home loan amount?
The funds are not released immediately after approval. All necessary documents and comprehensive background checks are completed first. Once these are finalised and all paperwork is signed, the payment is made. For ready-to-move-in properties, the full amount is typically paid at once. For properties under construction, payments are made in stages based on the construction progress. The money is transferred directly to the seller or builder, not to you.
Does Kotak Mahindra Bank conduct legal and technical verification before disbursing home loans?
Yes, always. One team reviews paperwork, ownership, titles, and approvals to ensure compliance with legal requirements. Another team inspects the site for build quality, value, and loan worthiness. If issues arise, the bank withholds funds. These steps are crucial for disbursal, not just a formality.
Can I get a top-up loan on my existing Kotak Mahindra Bank home loan?
Yes, you can get a top-up loan if you’ve been making regular payments and your loan still has sufficient value. Kotak offers these to existing home loan customers, but approval isn't automatic. They’ll review your repayment history, income, and property value. If all checks out, you might get extra funds, often used for repairs or large expenses. It requires paperwork but is usually faster than a new loan.
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