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  • Kotak Home Loans for NRIs

    Kotak Bank offers NRI home loans with higher eligibility along with attractive interest rates and insurance options to cover your Kotak NRI Home Loan. Kotak extends NRI home loans to first time buyers or to upgrade your home with customised services and facilities.

    Interest Rates for Salaried and Self-employed

    Particulars Salaried Self-employed
    NRI Home Loan Interest Rates 8.90% - 9.05% 9% - 9.25%
    Loan Tenure Up to 15 years
    Loan Amount Up to 80% of the cost of the property
    Processing Fees Up to Rs.10,000 Up to 0.50% of the loan amount

    Additional Charges and Fees

    Particulars Fees & Charges
    Prepayment Charges 6% of Foreclosure Loan Amount (within lock-in period of 12 months) 5% of Foreclosure Loan Amount (post-lock-in period)
    Copy of any Document Rs.500
    Repayment Mode/Account Swap Rs.500
    Duplicate NOC Rs.500
    Copy of CIBIL Report Rs.50
    Cheque Dishonour Rs.750 (Inclusive of GST)
    Penal Interest 3% p.m.
    Collection Charges 30% + GST + Applicable Statutory Levies of the cheque dishonour charges + Substitute Interest
    Amortisation Schedule/Account Statement Free once in a financial year; thereafter it’s Rs.250

    *IncludesApplicable Taxes

    Includes Applicable Statutory Levies+GST


    The Kotak NRI Home Loan eligibility depends on the applicant’s repayment capacity as well as based on the below criteria:

    • Age, Employment and Qualification: The bank considers the applicant’s and, or co-applicant's income or both for the home loan eligibility. However, if the co-applicant is not an NRI, you can’t include both.
    • Minimum Qualification: Graduate
    • Minimum of 3 years of employment
    • Maximum age is 58 years (at the time of retirement)
    • Income: Kotak Bank’s income eligibility for an NRI home loan are divided into loan tenure of up to 5 years and for loan tenure above 5 years and up to 15 years. The criteria are:
    • For Loan Tenure of up to 5 years:
    • Dirhams 36,000 for Gulf countries.
    • $20,000 for Merchant Navy.
    • For Loan Tenure above 5 years and up to 15 years:
    • $42,000 for UK/USA/Other countries excluding the Gulf.
    • Dirhams 48,000 for Gulf countries.
    • $26,000 for Merchant Navy.

    Note: Salary must be received on monthly/fortnightly/weekly basis through Cheque or by Direct Bank Credit and cannot be by cash.


    Kotak Bank requires you to submit the below documents apart from the application form for the NRI home loan:

    • Proof of income and banking details.
    • Proof of age and address.
    • Proof of identity.
    • Employment letter/appointment letter/contract copy.

    Features of the Kotak NRI Home Loan

    Kotak Bank extends the NRI home loan with several benefits and features. Here are the details:

    • Higher eligibility.
    • Attractive rate of interest.
    • Convenient loan disbursals.
    • A simple method of documentation.
    • Faster turnaround time.
    • Insurance cover with attractive premium.


    1. What’s the maximum loan amount I can avail through the Kotak NRI Home Loan?
    2. It is 80% of the property cost and in case of a commercial property, the bank can extend up to 60% of the property cost.

    3. How does Kotak Bank determine the NRI home loan eligibility?
    4. The bank determines the NRI home loan eligibility based on your repayment capacity, and this is taken into consideration based on income, qualifications, age, spouse’s income, number of dependents, assets and liabilities, stability and continuity of occupation and savings history.

    5. What’s the maximum loan tenure offered under the Kotak NRI home loan?
    6. The maximum loan tenure under the Kotak NRI home loan is up to 15 years. This depends on your profile.

    7. Can you apply for the Kotak NRI home loan along with a co-applicant and who can be a co-applicant?
    8. You can apply for the Kotak NRI home loan along with a co-applicant such as parents, spouse or your major children. Also, co-applicant need not be a co-owner of the property; however, co-owner of the property must be a co-applicant.

    9. Will the bank reduce the rate of interest during the intervening period or during the remainder of the loan tenure?
    10. In a floating rate of interest, any revision in the Base Rate (BR) will directly impact the rate of interest on a home loan.

    11. When will the NRI home loan be disbursed?
    12. The loan amount will be disbursed after the technical, credit and legal evaluation of the property have been completed. Also, the assessment of relevant documents and submission of original documents of the property are duly completed before the bank can disburse the loan.

    13. In how many instalments can Kotak Bank disburse the home loan?
    14. The bank disburses the loan in full or in required instalments by considering the requirement of funds and the construction progress based on the bank’s assessment.

    15. Does the sale agreement have to be registered?
    16. Yes. As required by law in many states, the sale agreement between the seller and the builder must be registered.

    17. Should I have to insure the property?
    18. Kotak Bank, through its NRI Home Loan, offers attractive insurance for your property with attractive premium.

    19. What type of security is required for the NRI home loan?
    20. The property, in most cases, becomes the security or collateral until the entire loan is repaid and, in some cases, additional security like term deposit receipts or life insurance policies might be required.


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