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Home Loan

Kotak Mahindra Bank Home Loan interest rates start at 7.99% p.a. Check
eligibility online and get instant approval for Current Kotak Housing Loan for
 Maximum Tenure. The lowest Kotak Home Loan EMI is Rs 733 per Lakh for 30 years.

Kotak Mahindra Bank Home Loan Details
Loan AmountRate of interestTenureLowest EMI possibleProcessing fee
Up to 90% of the property cost
7.99% onwards
Up to 30 years
Rs. 733 Per Lakh
0.50% of loan amt.

Tip: Best Home Loan for Salaried Person before applying for a loan

Kotak Mahindra Bank Home Loan Features and Benefits
    • Kotak Home Loan Features
      • Kotak Home Loan interest rates start from 7.99% per annum.
      • Both salaried as well as self-employed borrowers can opt for Kotak’s festival offer.
      • Loan amount: Up to 90% of the property cost.
      • Repayment tenure: Up to 30 years.
      • Kotak Mahindra Home Loan processing fees is nominal. Max up to 0.50% of the loan amount.
      • Lowest EMI possible: Rs. 733 Per Lakh.
      Benefits of signing up with Kotak Mahindra Bank Home Loan are:
      • Currently Kotak Mahindra Bank Home Loan are available at the lowest interest rates in the market.
      • Enjoy doorstep service & hassle free loan processing.
      • Best-in-class post disbursal services.
      • Quick & hassle free disbursal within 4 hours of application.
      • Option for Kotak Home Loan insurance at attractive premium.
      • Property in the deal is considered as security of the home loan. Receipts of term deposits or other Life Insurance policies with Kotak are accepted as additional security, as required.
      • No foreclosure or prepayment charges for floating interest Home Loans.
      • Option to apply for Kotak Mahindra Home Loan top up after successful repayment of 12 EMIs.

      Also check AnyRoR Gujarat Land Record.

Kotak Mahindra Bank Home Loan Eligibility Criteria
  • Kotak Mahindra Housing Loan eligibility criteria are straightforward. Follow the list given below:

    For resident Indians (individuals):
    • Age:
      • Salaried: 18 to 60 years
      • Self employed: 18 to 65 years
    • Gross income for resident Indians (individuals):
      • Metro cities: Delhi, Mumbai, Bangalore, Pune & Chennai – Minimum of Rs.20,000 per month
      • Other cities: Minimum of Rs.15,000 per month
    • Qualification:
      • For those employed with a private limited company or partnership firm: At least Graduation
      • For those employed with Public limited company or MNC or Government or Public Sector Company: No Restriction
    • Legal documentation for proof of identity, address, income, employment/ business continuity and property ownership.
    • Good credit score and clean credit history is also desired. You can check cibil score by pan card at fastmudra.in
    For Non Resident Indians (individuals):
    • Age: Max 58 years at the time of loan maturity
    • Income: Applicant’s/ Co-applicant’s income will be considered for eligibility. If applicant is NRI and co-applicant is resident Indian, clubbing of income is not permitted.

    For up to 5 years loan tenure

    • Applicant’s Min Annual Gross Salary after Currency Conversion:
      • For Gulf Countries: Dirhams 36,000
      • For Merchant Navy: USD 20,000

    For loan tenure of above 5 years and up to 15 years

    • Applicant’s Min Annual Gross Salary after Currency Conversion:
      • For USA/ UK/ Other Countries (except Gulf): USD 42,000
      • For Gulf Countries: Dirhams 48,000
      • For Merchant Navy: USD 26,000
    • Salary should be received through Direct Bank Credit (DBC) or Cheque and not by Cash on Weekly/ Fortnightly/ Monthly basis.
    • Minimum educational qualification: Graduate
    • Should be employed for at least 3 years

    Tip – Check Cibil score for home loan before applying.

Kotak Mahindra Home Loans Documents Required
  • When applying for Kotak Home Loan, make sure you have following documents in place:

    List of Kotak Mahindra Bank Home Loan documents for resident Indians:

    Proof of identity: (Copy of any one)Passport/ Driving Licence/ Voter’s ID
    Proof of residence: (Copy of any one)Rental Agreement/ Electricity Bill/ Ration Card/ Passport (latest document, not later than 3 month old)
    Proof of education:Highest educational degree certificate
    Proof of age:Birth Certificate or Matriculation Certificate or Mark-sheet
    Proof of income for salaried employees:Latest salary slips or current dated salary certificate, Bank Statements showing salary credit and other EMI debits, and latest ITR.
    Proof of income for self employed:
    • Proof of business along with the latest Bank Statements and latest ITR Form or Form 16.
    • Bank statements with deductions for other EMIs, if applicable
    Signature proof: PAN Card/ Driver’s Licence/ Passport/ Banker Attested Bank Account Statements. 

    *Please note that after providing signature proof, you will need to maintain this signature for the entire term of your loan.
    • Duly filled and signed Home Loan application form
    • 2 passport-sized photographs
    • A cheque for processing fee

    NRI Applicants need to submit Appointment Letter/ Employment Letter/ Contract Copy in addition to above home loan housing documents for Income Proof, Identity Proof, Address Proof, and Age Proof. 

    Additional Info: Also check Documents Required For Home Loan

Kotak Mahindra Bank Home Loan Interest Rates

kotak housing loans are currently being offered at special home loan Interest rates. The scheme applies to all loan amounts.

Kotak Mahindra Bank floating rates on Home Loans are as follows: 

SegmentInterest Rate
Salaried7.99% – 8.50%
Self Employed8.05% – 8.60%

*Home Loan interest rates are linked to repo rates.

*Repo rate: 5.40%

*Terms & conditions applicable as per lender’s credit policy

*LTV is loan to property value ratio

*Interest rate also vary on individual’s cibil score.

Additional Info: You can also check Best Home Loan Interest Rates

Kotak Home Loan Processing Fees & Charges
  • Home Loan Processing Fee – Salaried individuals
    • For < Rs 30 Lakh loan: 0.50%
    • For > Rs 30 Lakh loan: 0.50%
    Home Loan Processing Fee – Self employed/ Professionals:For any loan amount:  0.50% +GST & statutory dues
    Home Loan Top Up Processing Fees- for all profiles0.75% + GST & statutory dues
    Documentation Charges for both Home Loan & Top UpRs 4000 (at the time of disbursement) + GST & statutory dues
    Charge for Interest Certificate/ Account StatementFree, once in a financial year.  Afterwards, Rs 250 +GST & statutory dues per instance
    Switch Fee
    • Switching to lower floating rate: Rs 10000 +GST & statutory dues
    • Switch in benchmark index & lowering of floating rate: Rs 15000 +GST & statutory dues
    Repayment Mode/ Account  Swap chargeRs 500 + GST & statutory dues per instance
    Charge for Copy of any DocumentRs 500 + GST & statutory dues per instance
    Charges for Duplicate NOC/ No Dues CertificateRs 500 + GST & statutory dues per instance
    Prepayment Charge on Home Loan/ Top Up- FloatingNil
    Part prepayment on fixed or other accounts (Prepayment allowed only after 6 months; Capped at Rs 25000 to 25% of outstanding loan)4% of excess prepayment over 25% of outstanding amount
    Foreclosure of Fixed or other accounts4% of amount paid + prepayment in last 12 months + GST & Statutory dues as applicable 
    Commitment Fee – Home Loan2% of loan amount + GST & statutory dues
    Commitment Fee – Home Improvement / Extension:4% of undisbursed amount + GST & statutory dues
    Commitment Fee – Top Up 2% of loan amount + GST & statutory dues
    Substitute Interest (Penal Interest)2% per month, compounded monthly
    Cheque dishonour chargesRs 750 + GST & statutory dues
    Collection charges (in case of default)30% + GST & statutory dues of cheque / Instrument dishonour charges + substitute interest
    Annual renewal charge on overdraft
    • 0.25% of the limit (dropped limit after reduction of annual drop) on due date of renewal
    • NA for Smart Home Loan OD
    Non Utilization Charges
    • 0.25% of OD non-utilized limit, minimum OD Limit utilization threshold of 50% quarterly,
    • Min: Rs 1250 + GST, chargeable on quarterly basis.
    Overline Rate/ Penal Interest in case of overline accounts (Overdrawal of OD)3% p.m. GST & statutory dues over & above normal OD Rate


    • Stamp Duty on Loan Agreement, Overdraft Agreement, Guarantor Agreement, Registration Charges etc. varies from State to State.
    • Stamping/ Notarisation of RBI and other Affidavits as applicable.
    • Charges for other Services would be specified as applicable e.g. Revalidation of Sanction, Change in Property, Reschedulement of Kotak Loan, Change in EMI Date, Solvency Charges etc.
    • Taxes/ other statutory levies may be charged to the Borrower if applicable as per Government/ RBI directives.

    Additional Reading: Minimum cibil score required for home loan.

Kotak Mahindra Bank Home Loan Schemes
Kotak Digi Home Loan
  • Online home loan for property purchase or construction.
  • A simple 3 step Kotak Mahindra Bank Home Loan process:
    Fill details, upload documents & apply.
  • 100% digital processing
  • Minimal documentation
  • Doorstep delivery
  • Zero processing fees for those who apply for Kotak Bank home loan online.
  • Maximum LTV % for 80 -90 %
  • Maximum Tenor: up to 20 years
Kotak Home Improvement Loan
  • Loan for home improvement, including & not limited to renovation, extension, and repairs.
  • Tenor up to 15 years or retirement age, whichever is earlier.
  • Can be availed of as a top up on existing home loan, or term loan
  • LTV varies as per the product.
Kotak Home Loan Balance Transfer
  • Kotak Mahindra bank home loan balance transfer reduces existing interest rate and subsequent EMIs.
  • Get option to reduce tenure by paying off principal.
  • Kotak special Home Loan applicable on balance transfer loans.
  • You can apply online or offline as per your convenience.
  • Also, eligible for regular benefits of Kotak Mahindra Housing Loan scheme.
  • Max tenor up to 20 years.
  • LTV up to 90% of property value.
  • Top up available against house equity for any personal needs.
NRI Home Loan
  • Kotak Home Loan scheme for NRIs
  • Avail of housing finance for purchase or construction of a residential property in India.
  • Maximum tenure of 15 years.
  • Maximum LTV limit is up to 80% for NRI Home Loan; Up to 60% LTV for Commercial Property NRI Loans.
NRI Home Improvement Loan
  • Kotak Home improvement loan scheme for NRIs
  • Funding for renovation, furnishing, painting, tiling, flooring, waterproofing, plumbing or any other repair or make over task for existing residential unit in India.
  • Tenor of up to 10 years or retirement age (whichever is earlier).
  • Kotak Bank Home Loan is capped up to 80% value of home or up to 60% value of commercial property.

Additional Reading: How to improve cibil score immediately?

Kotak Home Loan Comparison with Other Lenders
LenderMaximum Loan AmountInterest RateProcessing Fee
Kotak Mahindra Bank Home LoanUp to 90% of property7.99%-8.50%Up to 0.50% of the loan amount + GST & statutory levies
ICICI Bank Home LoanUp to 90% of property 8.10%-8.95%0.50% – 2% or Rs. 1,500 (Rs. 2,000 for Mumbai, Delhi & Bangalore), whichever is higher + GST
SBI Home LoanUp to 90% of property cost7.55% – 8.25%Up to 0.50% + applicable GST
Axis Bank Home LoanRs. 5 Crore7.60%-8.05%Up to 1%, minimum Rs.10,000
HDFC Home LoanUp to 90% of property cost8.10%-9.00%Up to 1.50% or Rs. 4,500 (whichever is higher) + applicable taxes

Additional Info: Check Banglarbhumi West Bengal Land Record located in West Bengal. 

How to Calculate Kotak Mahindra Bank Home Loan EMI?

You should always calculate tentative EMI load before signing up for a home loan. This helps you make an informed decision according to your repayment capacity. You can use fastmudra Kotak Home Loan EMI Calculator to evaluate affordable Kotak Home Loan interest rate. All you need to do is input basic loan details such as loan amount, tenure, and interest rate. As you tap on the calculate button, you get an EMI estimate along with an amortization schedule for your home loan.

Banks set home loan interest rates according to their credit policy and external benchmark rates such as repo rate. Thus if you are applying for a Kotak Mahindra Bank Home Loan, you do not require additional interest rate calculator. An EMI Calculator will help you assess affordable EMI & rate of interest for your profile. 

Kotak Mahindra Home Loan EMI Calculation
Loan Amount10 years20 years30 years
Rs.20 lakhRs. 24,255Rs.16,716Rs.14,661
Rs.30 lakhRs.36,382Rs.25,075Rs.21,992
Rs.40 lakhRs.48,510Rs.33,433Rs.29,323
Rs.50 lakhRs.60,637Rs.41,791Rs.36,653
Rs.60 lakhRs.72,765Rs.50,149Rs.43,984

*For EMI calculation purpose, flat rate of Interest @ 7.99% p.a. is considered. The calculation is indicative only. Your EMI schedule will vary as per rate of interest offered to you.

You can also avail Kotak Personal Loan

How to check Kotak Mahindra Bank Home Loan application status?

You can conveniently check Kotak Mahindra Home Loan application status instantly by clicking on following link: Check your application status

  • Click on the link.
  • Fill following details:
    • Product: Home Loan
    • Identifier:  Application Form Number/ Prospect Number/ Lead Number/ CRN/ Mobile Number/ PAN & DOB/ First Name & DOB/ Second Name & DOB
  • Choose any one of the identifier and share it in next column.
  • Press submit for instantly tracking Kotak Home Loan application status.

Additional Info: Also check SBI Plot Loan

How Much Home Loan Can I Get on My Property (LTV) from Kotak Mahindra?

Depending on the product you choose, Kotak Mahindra Bank offers Home Loans up to 90% LTV i.e. 90% of the property cost:

Loan AmountMaximum Funding (subject to the market value of the property and repayment capacity of the borrower)
Up to Rs. 30 Lakhs90% of the cost of the property
Above Rs. 30 Lakhs and up to Rs. 75 Lakhs80% of the value of the property
Above Rs. 75 Lakhs75% of the property cost

You can also Check Loan Against Property without Income Proof and ITR

Kotak Mahindra Bank- Pradhan Mantri Awas Yojana Subsidy 2022

PMAY is a Credit-Linked Subsidy Scheme (CLSS) announced by Prime Minister Narendra Modi with a vision of providing ‘housing for all’ by the year 2022. You can reap the benefits of this housing credit scheme when applying for Kotak Mahindra Bank Home Loan. The bank offers CLSS under PMAY, that provides interest subsidy on Home Loans to eligible beneficiaries belonging to the Economically Weaker Section (EWS), Low Income Group (LIG), and Middle Income Group (MIG) segment. You can avail of this subsidy on house purchase or construction, as per the prescribed Home Loan Eligibility Criteria.

Additional Info: Also check How to Apply for Pradhan Mantri Awas Yojana

Kotak Mahindra Bank Home Loan Customer Care

You can reach out to Kotak Mahindra Bank home loan customer care by call, email or visiting the branch. The Kotak Home Loan customer care center can be contacted any time between 9 am to 6 pm from Mondays to Saturdays, except holidays.

Kotak Home Loan toll-free numbers are:

  • 1860-266-2666
  • 1860-266-0811 (811 related queries)

To call from overseas, use 24X7 customer service.

Abroad helpline number: +91 22 6204 2001 (chargeable)

Toll free NRI Helpline Numbers- country wise

Hong Kong0080044990000

Alternatively, you can visit your nearest Kotak Mahindra Bank branch for any queries. You can also write to them via Kotak Mahindra bank website, and they will get back to you on the matter.

Additional Info: Also check Home Loan Customer Care Number

View and improve your credit score - for free.


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