Kotak Digi Home Loan

Features of Digi Home loans

The features of Digi Home loans are mentioned below:

1. Pay zero processing fee for the online application
2. Attractive interest rates
3. Option to cover your home loan at attractive premiums
4. Easy documentation
5. Quick processing

Interest rates Matrix for Salaried applicants

Rate Matrix for Self-employed professionals and Self-employed non-professionals

Kotak Digi Home Loan Eligibility

The eligibility criteria which needs to be fulfilled to avail Digi home loans from Kotak Mahindra Bank are listed below:

• For an individual
  • Should be a graduate when the applicant is employed with a private limited company or partnership firm
  • Minimum monthly income should be Rs.20,000 if residing in Delhi, Mumbai, Bangalore, Chennai, or Pune (Rs.15,000 for other cities)
  • Should be a salaried individual between 18 and 60 years of age (18 – 65 years for self-employed individual)
• For a Hindu Undivided Family (HUF)
  • Should be in existence for at least 3 years
  • Net income should be at least Rs.2.4 lakh per annum if residing in Delhi, Mumbai, Bangalore, Chennai, or Pune (Rs.1.80 lakh per annum for other cities)
  • Karta of HUF should be an applicant or co-applicant
  • IT returns for three years need to be obtained
• For an Indian Company/LLP/Partnership Firm
  • Should be in existence for at least 3 years
  • Gross income should be at least Rs.2.4 lakh per annum if it is located in Delhi, Mumbai, Bangalore, Chennai or Pune (Rs.1.80 lakh per annum for other cities)

Kotak Digi Home Loan Documents Required

The documents which need to be submitted by a salaried individual for availing Digi home loans are listed below:

1. Photograph
2. PAN card of all applicants
3. Aadhaar card of all applicants
4. Proof of Relationship
5. Proof of Residence
6. Salary slips for the last three months
7. ITR and Form 16 for the last 2 years
8. Bank statements of the last 6 months where salary is credited
9. Bank statements of last 6 months of any other bank account (if any)
10. Track record and details of existing loans (if any)
11. Property documents

A self – employed applicant will need to submit the documents listed below along with the KYC documents

1. Self-employed Professionals (SEPs)
   1. Bank statements of the last one year of all applicants whose income is being considered
   2. IT returns for the last three years along with income computation (For customers of Kotak group - 2 years)
   3. Balance sheet and P&L accounts of last three year (For customers of Kotak group - 2 years)
   4. Degree certificate
   5. Registered partnership deed and letter from other partners, if part of a partnership firm
   6. Memorandum and articles of association, if part of a company
   7. IT returns, if a part of HUF
2. Self-employed Non-Professionals (SENPs)
   1. Statements of the last 1 year of all bank accounts
   2. IT returns for last three years along with income computation (For customers of Kotak group - 2 years)
   3. Balance sheet and P&L accounts of last three years (For customers of Kotak group - 2 years)
   4. Proof of Registration as applicable
   5. Registered partnership deed and letter from other partners, if part of a partnership firm
   6. Memorandum and articles of association, if part of a company
   7. IT returns, if a part of HUF

If you are planning to avail a home loan, you check out other Kotak Home loans scheme. The biggest advantage of this scheme is that you can avail the home loan without needing to visit the bank as everything can be done online.

A good credit score can help you secure lower interest rates on loans and credit cards.

Get Free Credit Score