✓ Home Loan from ₹2 Lakhs to ₹15 Crores ✓ Interest Rates Starting @ 8.50% Apply Now

Home Loan serves as one of the best financial instruments to finance the purchase or construction of your dream house in case the life-time savings is insufficient. With easy-to-meet eligibility criteria and simple application procedure, you can fulfil your dream of your own residence and avoid rental payment without much difficulty.

You can get a Kotak Mahindra Bank Home Loan at an affordable interest that starts from 9.00% p.a. Besides the interest rate, you also get to choose a tenure ranging up to 20 years so that you can repay at your convenience. You can now easily apply for Kotak Home Loan through Bajaj Markets.

Kotak Home Loan: Interest Rates and Charges

One of the most crucial factors to consider availing a home loan is to check the Kotak Mahindra Bank home loan interest rate.

Apart from the rate of interest, a bank levies certain additional fees and charges on a housing loan. Find these rates in the following table:

Fee/Charge Description

Amount in Rs.

Processing fee

Salaried Applicant: 0.5% of loan amount plus applicable taxes

Self-Employed Applicant: 1% of loan amount plus applicable taxes

Rs. 5,000 plus applicable taxes will be taken during login. This will be non-refundable

Interest Certificate/ Statement of Account/ Amortisation Schedule

Requested through Mobile Banking/Net Banking/Whatsapp Banking: Free

Request as Physical Copy through Customer Service/Branch: Rs. 250 plus applicable taxes

Charges for copy of any documents (Duplicate NOC, Copy of property documents, etc.)

Rs. 500 plus applicable taxes

Any Other documents /letter (e.g. Subsidy Confirmation Letter, Credit Opinion Letter, Interest paid confirmation letter, etc.)

Rs. 500 plus applicable taxes

Repayment mode/ Account swap charges

Rs. 500 plus applicable taxes

Prepayment/Foreclosure Charges

Individual Applicants: NIL

MSE certified applicants: NIL (if the applicant forecloses the loan through own fund source)

MSE certified applicants: 3% (plus applicable taxes) of the prepayment/foreclosure amount (if the applicant forecloses through borrowed source of funds.

Prepayment or foreclosure is not permitted for first 6 months

In case of part prepayments that are over 25% of outstanding loan amount: 3% (excluding any applicable dues and taxes) of the excess prepayment amount.

For full prepayment any time after the lock-in period: 3% (excluding any applicable dues and taxes) of the foreclosure loan amount, and the prepaid payments made during the past 12 months.

Instrument (Cheque/ECS/Mandate) dishonour charges

Rs. 500 plus applicable taxes

Substitute Interest (Penal Interest)

2% per month (plus applicable taxes) on EMI amount that is not paid

Collection charges (In case of default)

30% (plus applicable taxes) of cheque/instrument dishonour charges plus penal rate

Loan cancellation charges

0.10% of loan amount or Rs. 25,000 whichever is higher (plus applicable taxes)

Annual Renewal Charges

0.25% (plus applicable taxes) of the OD limit. This will be collected on renewal due date

Non-utilization Charges

0.25% of the non-utilized OD limit or Rs. 1250 whichever is higher (plus applicable taxes

Additionally, here are the highlights of Kotak home loan:

Loan to Value Ratio (LTV)

75% - 80% of the property’s value

Loan tenure

Up to 20 years

Monthly income of the applicant

Rs.20,000 (varied as per the city)

Note that taxes and other statutory levies may be charged to you depending on the RBI/Government directives. Consider having a clear conversation with the bank representative regarding the fees and charges for a clear understanding.

Kotak Mahindra Bank Home Loan Features and Benefits

Low processing fee and attractive interest rate

With Kotak Mahindra Bank, you can get a loan at a low rate, starting from 9.00% p.a. A good credit score of 750 or higher can qualify you for a larger loan amount at a lower interest rate. In addition, we charge a small processing fee to process your loan application.

Facility for insurance

Kotak Mahindra Bank also offers home loan insurance at competitive premiums. You can use this to relieve your family members of the burden of repaying the home loan in the event of an unfortunate incident.

Minimal documentation

The documentation process at the bank is extremely convenient and hassle-free. You simply need to keep the necessary documents handy for quick loan disbursal.

Simple eligibility parameters

You can apply for a Kotak home loan by meeting the simple eligibility parameters set by the bank. You can check your eligibility with a home loan eligibility calculator before applying for a housing loan.

Eligibility Criteria for Kotak Mahindra Bank Home Loan

The different parameters needed for fulfilling Kotak Mahindra Bank home loan eligibility are mentioned below:

  • Age

Salary applicants must be between the ages of 18 and 60 and self-employed individuals should be between the age of 18 and 65 years.

  • Gross income

The required minimum monthly income for applicants residing in Delhi, Bangalore, Mumbai, Pune, and Chennai is Rs.20,000. Additionally, for those living in other cities, the minimum monthly income requirement is Rs.15,000.

  • Minimum qualification

If the applicant works for a private limited company or a partnership firm, he or she must be a graduate. There is no such criterion if the applicant works for a public limited company, MNC, government, or public sector company.

Apart from this, to be eligible for a Kotak home loan, you must possess a decent credit score of 750 or above. This will ensure the bank that you are a creditworthy borrower, increasing your chances of loan application approval.

Documentation Needed for Kotak Mahindra Bank Home Loan

Apart from eligibility, submitting the necessary documents is a crucial step towards availing a housing loan from Kotak Mahindra Bank. Find the list of essential documents below:

Salaried individuals

  • A completed application form and a passport-sized photograph are required.
  • PAN Card copy Valid ID proof such as Aadhar Card or Driving License
  • Proof of residency
  • Salary slips for the last three months, Form 16 and Income Tax Returns (ITR) for the last two years, bank statement for the last six months
  • Relationship proof
  • Property documents accompanied by a sanction map

Self-employed individuals

In addition to KYC documents, self-employed applicants need to furnish the following additional documents:

  • Profit and loss statement of the business for the previous three years
  • Bank statement of the business and the individual for the previous 12 months
  • Income tax returns for the previous three years


Note that the bank might ask you for additional documents to sanction the Kotak home loan. Thus, consider keeping required property-related and personal information for an easy documentation process.

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How to Apply for Kotak Mahindra Bank Home Loan?

One of the many benefits of obtaining a housing loan from Kotak Mahindra Bank is that it comes with a convenient online application process. You can obtain a Kotak home loan easily by going through the following steps:

  • Step 1: Click on the ‘Apply Now’ button

  • Step 2: Fill in the initial application form with your basic information like employment status, mobile number, date of birth, etc.

  • Step 3: Click on ‘Check Your Offer’ to proceed to the next page

  • Step 4: Mention your income and employment details and state the required information about the property you wil mortgage

  • Step 5: Click on ‘Proceed’ after entering your marital status, gender and PAN card details

At this stage, you will enter a new page where you can see the list of home loans extended by partnered lenders

  • Step 6: Choose ‘Kotak Mahindra Home Loan’ from the available options

  • Step 7: Choose the loan amount and repayment tenure of your choice.

Upon following these steps, you will have to wait for approval of your loan application. You will get notification about your loan approval after the process completes.

Kotak Mahindra Bank Home Loan Customer Care

For any grievances or queries on Kotak home loan, individuals can reach out the bank by dialling 1860-266-2666 on weekdays between 9 am and 6 pm.

FAQs on Kotak Mahindra Bank Home Loan

The loan amount you can obtain depends on various factors, such as your monthly income, age, city of residence and more. Additionally, you should also maintain a healthy credit score to obtain a high loan amount.

Only a few relations can be co-applicant to a Kotak home loan. Thus, note that only your near relatives can apply jointly with you for a home loan.

Yes, you can increase your home loan amount. However, this may be only possible if you opt for a home loan balance transfer.

Salaried individuals have to pay 0.5% of the loan amount as processing fees and taxes as applicable. On the other hand, self-employed individuals need to pay 1% of the loan amount as processing fees and taxes as appliacable.

Yes, upon obtaining a home loan from Kotak Mahindra Bank, you can exercise the tax benefits that come under Section 80C, Section 24B, Section 80EE and Section 80EEA of the Income Tax Act.

Home loan processing fees are non-refundable. These are one-time fees that are to be made along with the loan application.

The maximum loan repayment tenure that Kotak Mahindra Bank offers is 20 years.


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