Kotak Mahindra Bank Home Loan Apply, Interest Rate 2024

Hi dear readers, hope you are doing well, today we will know about How to get Kotak Mahindra Bank Home Loan, Eligibility, Interest Rate, EMI Calculator, Minimum Salary, Cibil Score and more details that we read in this article please read till the last.

Friends It is the dream of every person to have his own house. But we desperately need money to build a house or buy a house. If no one is helping you with your money in this situation, then you can contact Kotak Mahindra Bank. Home Loan comes under the category of Secured Loan.

In this article, we will know what is Kotak Mahindra Bank Home Loan (KMBL), how much loan amount you can get home loan amount, what is the interest rate of this loan and how can we apply for this loan. You can apply etc., so you read this article till the end.

Kotak Mahindra Bank Home Loan

Anyone can take a home loan to build a house, buy a house or renovate a house. You can take a home loan from Kotak Bank with an interest rate of 8.49% per annum. With less documentation and easier process you can You can apply for Kotak Mahindra Bank Home Loan (KMBL).

The home loan amount given under the home loan will be given to the applicant. CIBIL Score depends on factors like income, age. If your credit score and your income is very high then you can get Kotak Mahindra Bank Home Loan up to higher loan amount. Prime Minister’s Housing Scheme(PMAY) Under this you can get subsidy on home loan.

Now a question must have come in your mind that how much loan amount you can take home loan from Kotak Bank, then it completely depends on your profile. Based on your eligibility, the bank will decide the loan amount to be given to you. But if you are transferring your existing home loan to Kotak Bank, then you can take home loan up to 90% of the property value. Kotak Mahindra Bank home loan You can take the loan tenure of maximum 20 years.

Key Features of Kotak Bank Home Loan

• Loan Name: Kotak Mahindra Bank Home Loan (KMBL)
• Lending Bank Name: Kotak Mahindra Bank
• Loan Amount: Depends on your profile
• Interest Rate: Starting from 8.49% pa
• Loan tenure: Maximum 20 years
• Application Mode: Online / Offline
• Processing Fee: Zero Processing Fee to Apply Online
• Official Website: https://www.kotak.com/

You can understand the loan amount given under Kotak Mahindra Bank Home Loan on the basis of the table given below:

age	Net Monthly Income (in Rs.)
	25,000	50,000	75,000
25 – 50 years	18.64 lakh	37.28 lakh	55.93 lakh

If you belong to Kotak Bank Personal Loan If you want to take advantage of this then you can click on this link Kotak Mahindra Bank Personal Loan You can apply for personal loan by clicking on

Interest Rate of Kotak Mahindra Home Loan 2024

Kotak Mahindra Bank home loan interest rate starts from 8.49% p.a. If you are an existing customer of the bank, then you can take advantage of the attractive interest rates of the bank. Before taking a personal loan, we should Personal Loan Interest Rate Similarly, before taking a home loan, we need to know about Home Loan Interest Rate It is very important to have information about If we apply without knowing the interest rate of home loan properly, then we may have to face problems at the time of loan repayment.

You can understand more about Kotak Mahindra Bank Home Loan interest rate from the table given below:

Home Loan Interest Rates for Salaried People:

loan amount	Rate of interest
any loan amount	8.49% – 8.50%

Home Loan Interest Rates for Self Employed People:

loan amount	Rate of interest
any loan amount	8.05% – 8.60%

Home Loan Balance Transfer Interest Rate for Salaried and Self Employed People:

type	loan amount	effective interest rate
salaried	any loan amount	8.00% forward
Self employed	any loan amount	8.00% forward

Pradhan Mantri Awas Yojana Kotak Bank

As friends, you know that the Credit-Linked Subsidy Scheme (CLSS) was started by the Prime Minister Shri Narendra Modi under the Pradhan Mantri Awas Yojana (PMAY). The main objective of Pradhan Mantri Awas Yojana is to provide pucca house to all the people by 2023. Under this scheme subsidy is provided on home loan. You can get home loan from Kotak Bank under Pradhan Mantri Awas Yojana. You can apply for this scheme by going to Kotak Bank and filling the Kotak Bank Awas Yojana form.

Benefits and Features of Kotak Mahindra Bank Home Loan ( KMBL)

• All salaried and self-employed individuals can avail Kotak Mahindra Bank Home Loan (KMBL) at attractive interest rates.
• The home loan interest rate of this bank currently starts from 8.49% per annum.
• Kotak Mahindra Bank Home Loan The loan amount to be given depends on the profile of the applicant.
• If you apply online for this home loan, then you have to pay zero processing fee.
• You will not have to run around to process your home loan as Kotak Bank provides doorstep service for home loan.
• You can apply for this home loan online by visiting the bank’s official website. If you fulfill all the conditions of the bank, then your loan is approved in 24 hours.
• Kotak Bank under Pradhan Mantri Awas Yojana.
• In some metropolitan cities of India, you can get approval for home loan immediately. These cities are as follows:
  • Mumbai
  • Bangalore
  • Delhi
  • Chennai
  • Hyderabad
  • Pune
• You can transfer your existing loan from other banks to Kotak Bank.
• The bank provides you the facility of top-up loan against this home loan.
• This bank also provides you home loan insurance coverage at an attractive premium.

Kotak Mahindra Bank Home Loan Eligibility

Kotak Mahindra Bank Home Loan (KMBL) only if you are eligible for this loan. If you do not fulfill all the conditions of this loan then you cannot apply for this home loan. Before applying for home loan, you need to visit the official website of Kotak Bank. Home Loan Eligibility Calculator You should calculate your eligibility using this loan so that you will know whether you are eligible for this loan or not. If eligible, then up to what loan amount you can get a home loan. To apply for Kotak Mahindra Bank Home Loan ( KMBL), you must have the following eligibility:

• All salaried and self-employed individuals can apply for this home loan.
• The home loan is provided by the bank keeping in mind many factors such as the applicant’s income, age, credit report, total work experience, other EMIs.
• Age for Salaried Person – 18 to 60 years
• Age for Self Employed Individual – 18 to 65 years
• Minimum income for residents of Delhi, Mumbai, Bangalore, Pune and Chennai – Rs 20,000 per month
• Minimum income for residents of other cities – Rs 15,000 per month
• If the applicant is working with a private limited company or partnership firm, then his minimum educational qualification is a bachelor’s degree. should be
• If the applicant is working in a public limited company or a multinational company or a government or a public sector company, then he does not need any minimum qualification.

Home Loan Eligibility Criteria for Partnership Firm/LLP/Indian Company:

• The firm/organization should be present for at least three years.
• The partnership firm/LLP/Indian company should have minimum net income of:
  • 2,40,000 per annum for companies/firms/LLPs in Delhi, Mumbai, Bangalore, Pune and Chennai
  • 1,80,000 per annum for companies/firms/LLPs in other cities

Home Loan Eligibility Criteria for a Hindu Undivided Family ( HUF) :

• Applicant or co-applicant should be Karta of HUF.
• The HUF should be in existence for at least three years.
• The HUF should file its IT returns for at least three years.
• HUF with minimum net income:
  • 2,40,000 per year for HUF in Delhi, Mumbai, Bangalore, Pune and Chennai
  • 1,80,000 per year for HUF in other cities

Documents Need for Kotak Home Loan

Before applying for Kotak Home Loan, you should keep all your documents together so that whenever the bank asks you for documents, you can see all the documents immediately. To apply for Kotak Home Loan, you must have the following documents:

General documents for application:

• income proof
• banking details
• identity proof
• age proof
• signature proof
• address proof
• proof of educational qualification
• Relationship proof (if you have co-applicants for the loan)

Documents Required for Salaried Person:

• one passport size photo
• copy of pan card
• copy of aadhar card
• copy of proof of residence
• Salary slip of last three months
• Form 16
• Basic bank details of last six months of salary account
• Bank details of any other bank account for the last six months
• proof of relationship
• Details of any existing loan taken along with their track record
• All property documents with clearance map

Documents required for self-employed person:

• KYC documents
• Application form with duly signed photograph
• PAN card
• Aadhar Card
• Passport
• residence proof copy
• Bank statement
• Salary slip of last three months
• Form 16 and Income Tax
• job confirmation proof
• proof of relationship
• proof of business existence
• business profile
• Business reference recommendatory
• power of attorney
• Information about the loan taken along with its track record (if there is an existing loan)
• Education Qualification Certificate and Proof of Professional Existence
• ITR) for the last three years along with computation of income
• Balance Sheet and Profit and Loss Account for the last three years certified/audited by CA
• All property documents with clearance map

Kotak Mahindra Bank Home Loan ( KMBL) Apply

If you fulfill all the conditions of Kotak Bank home loan then you can apply for this loan. You can apply for this loan both online and offline. Information about the process of applying is given here:

Kotak Mahindra Bank Home Loan Online Apply

If you are applying online then follow the steps given below :

• First of all you have to visit the official website of Kotak Mahindra Bank. https://www.kotak.com/en/home.html But have to come
• On clicking this link, you will see two options on the home page of the website – Know More and Apply Now.

• If you click on Know More then all the information related to home loan will come in front of you.
• You have to check this information correctly and calculate your eligibility.
• To apply online you Apply Now click on the option
• have to click on the Apply now option in the Home Loan section.
• Then you will see two options which are as follows:
  • Are you an existing customer?
  • A new customer?
• If you are an existing customer of the bank then you have to click on the first option and if you are a new customer of the bank then you have to click on A new customer? In the option given, click on apply now.
• After clicking, Kotak Mahindra Bank Home Loan Application Form will open in front of you.
• The information sought in the form such as name, email id, mobile number etc. has to be entered correctly and click on the option of Continue.
• After that the representative of the bank will contact you and proceed with the loan process.

How to apply offline ?

• First of all you have to go to your nearest Kotak Bank branch.
• You will have to go to the bank and contact the representative of the bank.
• The bank representative will provide you all the information related to the home loan.
• After that your documents will be verified and you will be given a kotak mahindra bank home loan application form.
• You have to fill the form correctly, attach your documents and submit the form to the bank.
• After that the bank representative will proceed with the loan process.

Kotak Home Loan EMI Calculator

Before applying for a home loan in the bank, you should calculate the EMI ( Equated Monthly Installment) of your loan. If you calculate your EMI first, then you will get to know how much installment you will have to pay at the time of loan repayment. If you do not calculate the EMI of your loan, then you may have to face problems at the time of loan repayment.

Home loan EMI mainly depends on three factors – loan amount, interest rate and loan tenure. You can visit the official website of Kotak Bank Home Loan EMI Calculator With the help of this you can easily calculate the EMI of your loan.

Kotak Home Loan Fees & Charges

There are some such Fees & Charges which are taken at the time of taking the loan, in between or at the time of closure of the loan. If you apply for Kotak Mahindra Bank Home Loan ( KMBL) online then you do not have to pay the processing fee, it is zero. By visiting the official website of the bank Fees & Charges You can get more information about it by clicking on the option.

Fees & Charges applicable on this home loan are as follows:

fee details	fee amount
processing fee	Salaried: 0.5% of the loan amount Self-employed, HL Top-up/Commercial Purchase: 1.0% of the loan amount
Interest Certificate/Statement of Account/Amortization Schedule	250 rupees
Fee for copy of any document (duplicate NOC, copy of property documents, etc.)	500 rupees
Repayment Mode/Account Swap Charges (Repayment Mode Change)	500 rupees
switch fee	Switch to lower floating rate for housing/extension/improvement 0.5% of the principal outstanding and undisbursed amount (if any)
Prepayment/foreclosure charges ( for floating rate loans)	Nil for term loans given to individual borrowers for non-commercial end use. Foreclosure   3% of loan amount
Instrument (Cheque/ECS/Mandate) Dishonor Charge	500 rupees
penal interest (late payment)	2% per month on the unpaid EMI amount
Collection fee ( in case of default)	30% of check/instrument dishonor fee and penal interest

Kotak Home Loan Customer Care Number

If you want to get other information about this loan, then you can get information by calling on Kotak Mahindra Bank Home Loan Customer Care Number.

• Helpline Number – 18602662666
• If you want to get Kotak Bank Home Loan Customer Care Number by state then you can click on this link customer care number can be obtained by clicking on

Conclusion:

In this article we have you How to Get Kotak Mahindra Bank Home Loan Provided complete information about if you Kotak Mahindra Bank Home Loan If you want to take, then you can get all the information related to this home loan by reading this article.

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FAQs on Kotak Home Loan