Kotak Bank Home Loan

Kotak Home Loan or more popularly known as the Kotak Mahindra Home Loan allows a home buyer to purchase their dream home with minimum effort.

Kotak Home Loan Product & Features

Kotak Home loan is available purchase and construction and extension of dwelling units with various repayment options.

Kotak Home Loan Interest Rates

Kotak Home Loan Interest rate is at 8.60% per annum with zero processing fees.

Kotak Home Loan Eligibility

Kotak Mahindra Home Loan is applied for by Individuals, either solely or jointly. If a loan is sought against a current property, owners will have to be co-applicants. However, the co-applicants need not be co-owners of the Property.

Repayment capacity of an individual decides the Kotak Home Loan eligibility. Financial eligibility is dependent on:

• Monthly or annual income
• Source of income
• Savings and credit history
• Work experience
• Age
• Qualifications
• Number of dependents
• Probability of the individual continuing in the same occupation

Kotak Home Loan Documents

The Kotak Home Loan Documents requirement is quite simple

• Application Form
• Income proof and banking details
• Age proof and address proof
• Identity proof and Signature Proof
• Proof of educational qualifications

Kotak Home Loan Calculator

The Kotak Home Loan Calculator uses the gives you an approximate amount for your home loan.

The formula to calculate your Kotak Mahindra Home Loann EMI is

P*r* (1+r)^n/([(1+r)^n]-1)

Here is an illustration of how Kotak Bank Home Loan EMI is calculated:

In above formula,

• P = Loan amount. This can range from Rs. 1,500,000 to Rs. 50,000,000
• r = Rate of interest per month. Current rate is 8.75%, which is linked to Kotak 1 Year MCLR, which is currently 8.85%. Last revised on 01st Feb 17
• n = tenure in month. For Kotak Bank, this can be 360 months