A "low interest" loan shouldn't mean you have very little interest in paying it back!
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    Kotak Mahindra Bank Home Loan

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    9.55% - 14.5% Floating
    0 One time fee
    90% of the cost of the property
    1-20 Years
    Response Time Within 30 minutes
    What you'll love
    Fees & Charges
    Good to Know

    Kotak Mahindra Bank Home Loan is Rated as "Great!" by 20 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service



    Kotak Mahindra Bank is an Indian bank and financial service firm established in 1985. It was previously known as Kotak Mahindra Finance Limited, a non-banking financial company. In February 2003, Kotak Mahindra Finance Ltd, the group's flagship company was given the licence to carry on banking business by the Reserve Bank of India (RBI). Kotak Mahindra Finance Ltd. is the first company in the Indian banking history to convert to a bank. The bank offers personal finance solutions of every kind from savings accounts to credit cards, distribution of mutual funds to life insurance products.Kotak Mahindra Bank provides you home loans accompanied by highly customised facilities and services for a seamless and pleasurable home-buying experience.To know more, follow some simple steps given below to get attractive deals.


    You’re probably eligible for an Kotak Mahindra Bank Home Loan if you are

    Kotak Mahindra Bank Home Loan Minimum Age

    At least 21 years old

    Kotak Mahindra Bank Home Loan Maximum Age

    Less than 65 years old

    Kotak Mahindra Bank Home Loan Eligible Employment Type

    Salaried or self-employed
    with regular income

    Kotak Mahindra Bank Home Loan Minimum Income

    Earn more than the minimum
    income required


    Your Kotak Mahindra Bank Home Loan amount eligibility is based on these factors

    Kotak Mahindra Bank Home Loan Minimum Salary

    Earn more than the minimum
    income required

    Kotak Mahindra Bank Home Loan Maximum Loan to property value

    Loan capped @ 90% of property value

    Kotak Mahindra Bank Home Loan EMI

    EMIs of other loans lower
    your eligibility


    Increase your eligible Kotak Mahindra Bank Home Loan amount by these steps

    Kotak Mahindra Bank Home Loan Add Spouse as Co-applicant

    Make your spouse a co-applicant,
    and her income will add
    to your eligibility

    Kotak Mahindra Bank Home Loan Maximum Tenure

    Choose longer tenure loan up to 20 years

    Kotak Mahindra Bank Home Loan Add parents as Co-applicant

    Alternatively add your parents


    Documentation needed to apply for an Kotak Mahindra Bank Home Loan

    • 1. Signed application form with photograph
    • 2. Latest bank statements
    • 3. Processing fee Cheque
    • 4. ID and residence proof
    • 5. Documentation for salaried applicants:
      • Last 3 years Income Tax Returns with computation of Income
      • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account
    • 6. Documentation for self-employed applicants:
      • latest income tax returns
      • latest comupation of income


    Kotak Mahindra Bank Home Loan Interest RatesUpdated on 24 Oct 2016

    Kotak Mahindra Bank Home Loan Details
    Interest rate 9.55% to 14.5%
    Processing fee Nil
    Loan Tenure 20 years
    Pre-closure Charges Nil
    Guarantor Requirement No Guarantor Required



    Purchasing a house or property is a major step in anyone’s life. While it brings with it an immense sense of accomplishment, the entire process of buying a house can be full of anxiety and frustration as well. With the boom in population each year, real estate has become a prized possession. Also, since the demand is much greater than the supply, real estate prices are climbing steadily each day, it has become rather impossible to purchase a house solely with one’s savings. Also, experts advise against channeling all your savings towards the purchase of a house. Home loans have been invented for the very purpose of helping finance the cost of a house, so you don’t have to empty your savings. Home Loans have been devised to not only help ease the burden of financing the cost of a house but are also spread over a long term to make for a comfortable repayment schedule. Millions of prospective home buyers avail home loans each year to realize their dream of owning a house.

    Home Loans From Kotak Mahindra Bank:

    Kotak Mahindra, one of India’s leading financial institution, offers its customers the service of home loans. What puts these home loans above the fray are the bevy of features which they offer, which make it easier on you to not only avail the loan but also pay it back. These home loans have been tailor made to provide all the benefits and advantages for a smooth, and problem free experience. While there are several home loan providers in the market, Kotak Mahindra certainly possesses an edge over the rest with their keen understanding of the customer’s needs and offering a home loan product which is designed in sync with the same. Read on to find out all about the Kotak Mahindra Home Loan and how you can

    Features and Benefits of Kotak Mahindra Bank Home Loan:

    The Kotak Mahindra Home Loan is loaded with a host of features and benefits to make its easier for you to purchase your dream home in the minimum time possible.

    1. Doorstep Service – As a Kotak Mahindra customer, you get the advantage of availing doorstep service for your home loan. No need to visit the bank and await your turn to be attended to or submit your documents. A bank representative will visit you at your house to help you out with the formalities of applying or a loan.

    2. Low Interest Rates – One of the primary reasons why the Kotak Mahindra Home Loan is popular is due to the low rates of interest it offers, making it one of the most affordable home loans available in the market.

    3. Quick and Hassle-free Loan Disbursement Process – Once your loan is approved by the bank, you needn’t wait to receive your loan amount. The bank has in place a very quick and hassle free loan disbursement process to ensure that the loan amount reaches you within minimum time.

    4. Minimal and Simple Documentation – Unlike other loan providers which ask applicants to provide extensive documentation in order to apply for the loan, Kotak Mahindra makes the process loads simpler. You only have to provide a few basic documents like your identity proof, employment proof, residence proof, bank statements and a valid proof of your repayment ability to be on your way to apply for your loan.

    5. Home Insurance Options At Attractive Rates – As a home loan buyer, Kotak Mahindra provides you with the added benefit of availing home insurance plans for your dream home. You can avail these home insurance plans at very attractive premium rates to ensure that your house is protected from any external risks or perils.

    6. Longer Tenure – To make it easier for you to avail and repay your home loan, without it becoming a burden, Kotak Mahindra offers home loans which are accompanied by a maximum repayment tenure of 20 years. However, the loan tenure can also vary depending on the applicant’s profile.

    7. Security Required Towards Loan – While in most cases, the house or the property to be purchased will be considered as adequate security towards the home loan. The property/house will be taken as security till the entire loan has been repaid. However, in certain cases, additional security may be required, which can be in the form of receipts of Term Deposits or Life Insurance policies taken with Kotak Mahindra (if available).

    8. Loan Amount – Kotak Mahindra provides home loans which allow you to borrow 90% of the value of the house or property to be purchased. For loans up to the value of Rs 20 lakh to Rs 75 lakhs, you an avail up to 80% of the cost of property and for loans above Rs 75 lakh, you can avail loan amount up to 75% of the property value.

    Eligibility – Kotak Mahindra Home Loan:

    In order to apply for a Kotak Mahindra Home Loan, applicants must adhere to the eligibility criteria laid down by the bank. Kindly note that individuals may apply for these loans on a single or joint basis. Co-applicants in this case will be the owners of the property in question, to be purchased. Co-applicant need not necessarily be the co-owners of the property. Some of the factors which are key in evaluating an individual’s eligibility for a Kotak Mahindra Home Loan are:

    • Applicant’s annual or monthly income.
    • Applicant’s source of income
    • Applicant’s credit history and saving habits.
    • Applicant’s work history and experience.
    • Applicant’s age.
    • Applicant’s qualifications.
    • Number of dependents attached to the applicant.
    • Stability and continuity of the applicant’s current occupation.

    New Kotak Mahindra Bank Home Loan Interest Rate:

    The interest rates offered by Kotak Mahindra Bank on home loans are as follows:

    Loan Amount Rate of Interest
    Up to Rs.30 lakh Up to 14.5%
    Rs.30 lakh to Rs.40 lakh Up to 14.5%
    Rs.50 lakh to Rs.100 lakh Up to 14.5%
    Above Rs.100 lakh Up to 14.5%

    Kotak Mahindra Bank MCLR Rate for Home Loans:

    Effective June 1st 2016, Kotak Mahindra Bank set its Marginal Cost of Funds Based Lending Rate (MCLR) at 9.55% for home loans with tenures of one year. These rates are applicable to all rupee loans and credit limits that have been sanctioned and renewed by the bank respectively from April 1, 2016.

    The MCLR set by Kotak Mahindra Bank as on August 1, 2016, are as follows:

    Loan Tenor MCLR
    Overnight 8.75%
    1 month 8.85%
    3 months 9.05%
    6 months 9.3%
    1 year 9.6%
    2 years 9.65%
    3 years 9.65%

    Documents Required - Kotak Mahindra Home Loan:

    In order to apply for a Kotak Mahindra Home Loan, applicants must submit the following documents.

    1. Proof of Income.
    2. Banking details.
    3. Proof of Residence.
    4. Proof of Age.
    5. Proof of Identity and Signature.
    6. Certificate of Educational Qualifications

    How to Apply for a Kotak Mahindra Home Loan via BankBazaar?

    One of the simplest and quickest ways to apply for a Kotak Mahindra Home Loan is to do it via BankBazaar. Benefit from the easy to comprehend and quirky interface offered by the site, which can provide you with a quote for your home loan within minutes. Just visit the BankBazaar website and click on the tab labeled ‘home loans’. Once you click on that, you will be re-directed to the home loan page where you need to provide details like your city of residence, name of your employer, monthly income and the approximate value of the property which you are looking to buy. After providing those details, the website will instantly display for you the list of banks which will provide you with the home loan that you are looking for. Along with each bank, you will be provided with details like the type of home loan interest rate which the particular bank offers, the approximate EMI amount and the processing fee applicable on the requested loan amount. Armed with these details, you can easily skim through various options which will be provided on a single page to help you shortlist the ones which closely meet your requirements.


    1. Is there any processing fee associated with this home loan?

      Yes, Kota Mahindra Home Loans taken with the Floating Interest Rate plan will be charged a loan processing fee at the rate of up to 1.25%, excluding service tax.

    2. Can I take this hoe hone jointly with a co-applicant?

      Yes, you may avail this home loan with a co-applicant who may be your spouse, your parents and even your children who have attained majority. The co-applicant of the loan need not necessarily be the co-owner of the property.

    3. How will the loan be disbursed?

      The disbursement of the loan shall be done either in full or in installments based on the progress of the construction / requirements of funds for the purchase of the property. The same will be decided by the bank after careful evaluation.

    4. Is it necessary for the Agreement of Sale to be registered?

      Yes, it is necessary to get the Agreement of Sale to be registered. Under the Indian Registration Act, 1908, it is mandatory in many Indian states to have the Agreement of Sale done between the builder or seller of the property and the buyer of the property to be registered. Also, it is beneficial for you as a buyer of the property to get the Agreement registered.

    News About Kotak Mahindra Bank Home Loan

    • Festive season discount - Home Loan rates slashed by Kotak Mahindra Bank

      Kotak Mahindra Bank is offering special deals on home, car and business loans, and a higher interest rate on savings accounts.

      The revised home loan rate is 9.35%. Business loans and overdrafts are offered at up to 1% lower interest rates with 25% waiver on processing fees till 10th September 2016.

      Moreover, processing fees for home loans have been reduced by 50%, and foreclosure charges for business loans have been completely waived off.

      6th September 2016

    • Kotak Mahindra Bank Announces New Lending Rates Based on MCLR

      Kotak Mahindra Bank made an announcement declaring its new lending rates. The MLCR (Marginal Cost of Funds based Lending Rate) of Kotak Mahindra Bank’s overnight loan was set at 8.9%, while for one month it was set at 9%. MLCR on the three month loan from the bank was set at 9.25% and for six month loans, it was decided at 9.4%. Kotak Mahindra’s MLCR on two-year and three-year loans was announced at 9.65%.

      13th April 2016


    Kotak Mahindra Bank Home Loan Reviews

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