Kotak mahindra bank Home Loan Interest Rates

For Salaried For Self-Employed
Interest Rate 10.75% onwards 11.00% onwards
Loan Tenure Up to 5 years Up to 5 years
Loan Amount Min. Rs. 24,000, Max. Rs. 15 lakhs Min. Rs. 25,000, Max. Rs. 15 lakhs
Processing Fee 1% of loan sanctioned + Taxes 1% of loan sanctioned + Taxes
Pre-payment Charges 3% of amount prepaid 3% of amount prepaid
Foreclosure Charges 3% of principal outstanding 3% of principal outstanding

Simple Loan Process

Kotak mahindra bank offers simple loan process

Choose Loan Amount

Choose your loan amount and terms to use loan

Provide Document

Need to provide some basic document to verification

Approved Loan

Our loan specialist ask fews question and verify docuements.

Get your Money

Once loan aprroved you get loan amount credit.

Top Home Loan Schemes and Offers

You can either visit the official website of the bank to directly apply for a Home Loan or visit the BankBazaar website to compare different loans and then apply for one which you feel is suitable.

You can either visit the official website of the bank to directly apply for a Home Loan or visit the BankBazaar website to compare different loans and then apply for one which you feel is suitable.

Bank Best For Key Highlights
Indian Bank Home Loan Low Interest Rate
  • Interest rates ranging from 9.99% p.a. to 16.49% p.a.
  • Loans of up to Rs.30 lakh
  • Tenure of up to 5 years
Punjab National Bank Home Loan Self-Employed Professional
  • Interest rates (rack interest) ranging between 10.5% p.a. and 21.00% p.a.
  • Tenure of up to 5 years
  • Loans of up to Rs.40 lakh
Central Bank of India Home Loan Quick Turnaround Time
  • Interest rates starting at 10.75% p.a.
  • Loans of up to Rs.20 lakh
  • Tenure of up to 5 years
Bank of Maharashtra Home Loan Flexible Interest Rates
  • Interest rates starting at 10.99% p.a.
  • Tenure of up to 6 years
  • Loans of up to Rs.25 lakh
Oriental Bank of Commerce Home Loan Short-term Requirement
  • Interest rates ranging from 11% p.a. to 15% p.a. (indicative)
  • Tenure of up to 5 years
Punjab and Sind Bank Home Loan Top-Up Loans
  • Interest rate starting at 10.49% p.a.
  • Loans of up to Rs.40 lakh
  • Tenure of up to 5 years
Uco Bank Home Loan Quick Approval
  • Interest rates starting at 11.99% p.a.
  • Loans of up to Rs.25 lakh
  • Tenure of up to 60 months
Indusind Bank Home Loan Easy Eligibility Checks
  • Interest rates starting at 24% p.a. onwards
  • Loans of up to Rs.25 lakh
  • Tenure of up to 5 years
Yes Bank Home Loan Special Offers
  • Interest rates at the discretion of the bank
  • Loans of up to Rs.20 lakh
  • Tenure of up to 5 years
South Indian Bank Home Loan Different Income Categories
  • Interest rates starting at 9.60% p.a.
  • Loans of up to Rs.20 lakh
  • Tenure of up to 7 years
Karur Vysya Bank Home Loan Affordable Interest Rates
  • Interest rates from 8.95% p.a. onwards
  • Loans of up to Rs.10 lakh
  • Tenure of up to 60 months

Home Loan Eligibility Criteria

The following factors are considered by lenders while going through your loan application. If you meet these criteria, consider yourself eligible for a Home Loan.

Criteria Salaried Self-Employed
Age 21 years to 60 years 22 years to 55 years
Net Monthly Income Rs.15,000 Rs.25,000
CIBIL Score Above 750 Above 750
Minimum Loan Amount Rs.50,000 Rs.50,000
Maximum Loan Amount Rs.25 lakh Rs.50 lakh

Home Loan EMI Calculator

Use BankBazaar Home Loan EMI calculator to calculate your EMI beforehand to plan and manage your finances in a better way. Home Loan calculator lets you check your loan eligibility and helps you compare loans offered by different banks.

All you need to do is enter the loan details, including your preferred loan amount, interest rate, tenure, and processing fee. Hit "Calculate" to check your EMI. The lowest applicable EMI per lakh for a tenure of 7 years at minimum applicable interest rate is Rs.1,599.

The result is followed by an amortisation table, which will give you a detailed break-up of your repayment schedule.

Documents Required to apply Home Loan

Requirements Salaried Individuals Self Employed
Proof of Identity Passport, Voter’s ID, Driving License or PAN Card Passport, Voter’s ID, Driving License or PAN Card
Proof of Residence Passport or utility bills Passport or utility bills
Proof of Income Bank statement of salary account for the past two years Audited financial statement of the past two years

If you are an NRI looking to borrow a Home Loan, these are the documents that you will need to submit to the lender:

  • Copy of your Passport
  • Visa Copy
  • Your official Email ID or the Email ID of the HR
  • Bank Statements
  • Salary Certificate or salary slips
  • NRO/NRE bank statements of the last 6 Months
  • Proof of Identity, Residence, Income, and Assets
  • Recent passport-size Photographs of yourself and the guarantors

Other Fees & Charge

  • Processing fee
  • Goods and Services Tax or GST
  • Verification charges
  • Charges levied for issuing duplicate statement
  • Penalty for defaults
  • Penalty for pre-payment and part payment of loan

In addition to these, the lenders might also levy charges for documentation, stamping, credit administration, collection, and so on. The levy and the rates of these fees and charges differ from lender to lender. However, you can check the fees and charges which are levied by the top lenders in India before you apply for a Home Loan.

Do not forget to check the eligibility criteria for the different types of Home Loans before you apply for one.

Home Loan Top Up

A Home Loan customer can avail an additional loan amount through the top-up facility over his/her existing loan. The loan amount will be subject to the terms and conditions set by the financial lender, while the interest rate may be the same as the existing loan or could be up to 1% more than the interest rate of the current loan. The tenure of the top-up Home Loan will be subject to that of the existing personal.

Key features and benefits

  • Existing Home Loan customers are eligible for the loan top-up provided that they have paid their EMIs regularly and have no pending payments.
  • Quick or instant disbursal of the top-up loan amount.
  • Minimum documentation required.
  • Zero processing fee offered by a number of lenders.
  • No collateral required.

The approval of a Home Loan application depends on many factors. When you apply for a loan, you should make sure that you are fulfilling all the factors to ensure the approval of your loan application. The eligibility criteria for Home Loans may vary from lender to lender. However, there are some common criteria which include the age of the applicant, his or her income, credit score, the status of employment, and so on. Before you apply for a loan, make sure that all the eligibility criteria are being fulfilled. This will help you avoid the rejection of your loan application. Although there are other options that you can resort to in case your loan application gets rejected, it is recommended to double-check before applying to avoid the chances of rejection of loan application.

If you have recently paid off your Home Loan (either repaid or foreclosed), you might have the idea that your obligation towards the loan is over. However, that is not the case. There are certain things that you should do after paying off your Home Loan.

Get Started Simple & Securely

Understand what is the loan amount you are eligible for and what would the EMI be.
you can apply as per your eligibility.

Check eligibility for loan

Find Loan Products We Offers

We will match you with a loan program that meet your financial need. In short term liquidity,
by striving to make funds available to them within 24 hours of application.

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