
You can now make your dream home a reality, with home loans in India. All top financial organizations provide their customers with the facility of borrowing home loans.
So, what is home loan? A home loan or housing loan, also known as home finance or housing finance is a secured type of loan borrowed for property purchase. The purchased property itself is provided as the housing loan collateral. Home buyers apply for home loan to mainly ease their financial burden, and online home loan process has made it convenient for all.
Despite the fact that home loans are now a commonplace service at all established financial institutions, it is crucial to conduct a thorough research before you apply for home loan. Understand the benefits, rate of interest and other important fees before starting the process. All these things have a long-term impact on your overall repayment schedule.
Getting adequate home loans in India is a challenging process. That’s why, to be able to get a great home loan deal, you need to first understand the home loan benefits. It will also help you understand what to expect from your home loan.
Kotak Mahindra Bank offers an online home loan with low-interest rates. Moreover, Apply for a Kotak Mahindra Bank home loan online or by visiting your nearest branch.
Key benefits of the online home loan from Kotak Mahindra Bank:
With Kotak housing finance, enjoy minimum processing fee.
Kotak home finance is quick and easy, all thanks to our minimal documentation.
Enjoy doorstep services with Kotak Mahindra Bank’s house loan.
Affordable home loan insurance premiums is another great advantage.
Make an informed decision with Kotak Bank’s Home Loan EMI Calculator. A user-friendly tool, it helps you with crucial details like home loan amount, home loan interest rates, home loan tenure and a lot more.
Interest rate is important when you apply for home loans in India. Your home loan interest rate can affect the overall EMI that you have to pay. So, it is advisable to keep it in mind whenever you are applying for a housing loan. With Kotak’s house loan you can get an attractive interest rate starting at 8.30%. Here’s more:
PRODUCT | APPLICANT | RATE OF INTEREST |
---|---|---|
Home Loan |
Salaried |
8.85% - 9.35% |
Self-employed |
8.90% - 9.40% |
|
Home Loan Balance Transfer |
Salaried |
8.85% onwards |
Self-employed |
8.90% onwards |
To know what interest rate you have to pay on your home loan, you can refer to our home loan EMI calculator.
So how to get a home loan? You can now apply for home loan with Kotak’s easy and quick online process that makes housing finance in everybody’s reach.
For home loan, apply online through Kotak website. You can even visit your nearest branch.
Simply provide us with the necessary housing loan documents that are easy to get.
Instant home loan approval is possible with Kotak’s online process.
Documents are immediately processed on housing loan approval.
Before applying for a home loan, make sure you check your home loan eligibility. Once you fit the house loan criteria, it is easier for you to avail of a home loan. Kotak Mahindra Bank has a simple house loan requirement for its borrowers. Take a look.
Criteria |
Salaried |
Self-Employed |
---|---|---|
Age |
18-60 years |
18-65 years |
Minimum Income |
Residents of Delhi, Chennai, Bangalore, Mumbai, Pune: Rs. 20,000/month |
Residents of Delhi, Chennai, Bangalore, Mumbai, Pune: Rs.240000/- p.a. |
Minimum Qualification |
Bachelor’s Degree |
NA |
For best home loan, apply online via Kotak Bank’s website.
Documentation is an important aspect when it comes to home loans. A simple and minimal home loan documentation process at Kotak Mahindra Bank makes it convenient for borrowers to apply for home loan. Take a look at this quick documents list for a house loan in India:
For a home loan, apply online now.
Clicking on ‘Accept & Proceed’ will redirect you to a third party website.
By clicking on ‘Accept & Proceed’ will be redirected to a third party co-developed website powered by Teal India Pvt. Ltd.
By Clicking on “Accept & Proceed”, you are expressing an interest in availing Kotak Home Loan and need value added information such as Property Valuation for which you will be redirected to a third party co-developed website powered by Teal India Pvt Ltd. Kotak Mahindra Bank does not undertake any liability or responsibility for the Information contained therein.
Dos
✔ Investigate the details of the Home Loan as well as the property you are looking to acquire.
✔ Be mindful of unexpected expenses and plan appropriately.
✔ Make a point of keeping all the paperwork close at hand.
✔ Before qualifying for a house loan, you should work on improving your credit.
Don'ts
╳ Applying for a house loan on different aggregator sites may lower your chances of approval.
╳ Carrying too many loans while applying for a house loan may jeopardise your creditworthiness.
╳ Do not overspend on a credit card or postpone loan repayments since they will have a negative impact on your credit rating.
╳ Do not take out a home loan that you will find challenging to repay.
Home Buyer
I had a great experience. I want to appreciate the Home Loan RM & branch for the customer centricity & follow ups to keep the things moving.
Reviewed on 04/11/2021
Home Buyer
It was good experience. I preferred Kotak bank over other banks due to lower rate of interest and my existing relationship with Kotak Bank.
Reviewed on 04/11/2021
Home Buyer
Process of getting Kotak Home Loan was smooth. Would recommend one to choose Kotak Home Loans. Also, RM, Branch team were of great support.
Reviewed on 04/12/2021
Home loan is a secured loan that provides you with finance to buy a property and the property itself acts as a collateral. Kotak Mahindra Bank provides home loan at lucrative interest rates.
Borrowing a home loan can be a great way to lift off your financial burden. When you avail of a home loan, you have the privilege of repaying the borrowed amount in smaller installments, rather than arranging for a large sum of money at once. That’s why, many home buyers choose to borrow a house loan.
Kotak Home Loan understands how precious your investment is for you, and funds 75 to 80 % of your property cost. The home loan process is simple, convenient and seamless. Lucrative housing loan interest rates and home loan insurance premiums are an important advantage of Kotak Home Loans.
Availing of a home loan is a huge undertaking. That is why the government has introduced several provisions in the Income Tax Act to lessen the home loan burden on the taxpayers. These deductions are on the interest amount, principal amount, stamp duty and registration charges, pre-construction interest and even for the first-time home buyers.
Home loan comes in various types. Here are a few of them:
Find more information about how to get a home loan on Kotak Mahindra Bank’s website.
Kotak Mahindra Bank’s home loan comes with minimal fees and charges. The home loan processing fee is based on the principal amount and tenure. The processing fee also differs depending on the type of employment of the applicant. For a salaried applicant, the processing fee is up to 0.5% while for a self-employed applicant the fee is up to 1%. Visit our website to know more about how to get a home loan.
There are various factors that banks use to decide whether you are eligible for a home loan or not. These factors are:
The EMI amount you have to pay is based on the principal amount of your home loan, the interest rate, and the home loan tenure . You can effectively calculate the monthly installments with our easy-to-use Home Loan EMI Calculator.
Kotak Mahindra Bank has a simple and minimal documentation process, which makes the whole housing loan process hassle-free and easier. To know what kind of home loan documents you are required to submit, visit our official website.
The home loan application process at Kotak is easy. After clicking on the ‘Apply Now’ button, all you need to do is enter your personal information in the form on the screen. After that, you will receive a quote and can apply for the loan online. Another benefit of the Kotak Home Loan is that you can get the home loan in-principal sanctioned within 24 hours*. In-principle approval of your home loan online is done via your income tax credentials. In essence, Kotak provides an inexpensive housing loan right at your doorstep! It is swift, convenient, and comes along with an appropriate loan disbursement process. It’s time to raise the bar with Kotak today!
Buying your own house requires a lot of financial commitment, especially if you want to buy a house in a metro city. However, to get a Kotak home loan, you must meet some eligibility criteria. These are:
You can pay off any existing balance of Home Loan using Kotak’s Home Loan Balance Transfer at a lower rate of interest.
If you are an NRI and are looking for a Home Loan, Kotak provides you just that. Check out our NRI Home Loans section.
If you are looking for renovating your home, you can do so by taking Kotak’s Home Improvement Loans
To encourage women home buyers, Kotak Mahindra Bank offers affordable housing loans for women.
Disclaimer (Things you should know):
For loans: Credit at the sole discretion of the Bank and subject to guidelines issued by RBI from time to time. Bank may engage the services of marketing agents for the purpose of sourcing loan assets.
By Clicking on “Accept & Proceed”, you are expressing an interest in availing Kotak Home Loan and need value added information such as Home Search for which you will be redirected to a third party website. Kotak Mahindra Bank does not undertake any liability or responsibility for the Information contained therein.
By clicking on the hyper-link, you will be leaving www.kotak.com and entering website operated by other parties. Kotak Mahindra Bank does not control or endorse such websites, and bears no responsibility for them.
At your request, you are being re-directed to a third party site - https://www.billdesk.com/pgmerc/kotakcard/ wherein you can make your payment from a different bank account. Kotak Cards does not guarantee or warrant the accuracy or completeness of the information, materials, services or the reliability of any service, advice, opinion statement or other information displayed or distributed on the third party site. You shall access this site solely for purposes of payment of your bills and you understand and acknowledge that availing of any services offered on the site or any reliance on any opinion, advice, statement, memorandum, or information available on the site shall be at your sole risk. Kotak Cards and its affiliates, subsidiaries, employees, officers, directors and agents, expressly disclaim any liability for any deficiency in the services offered by BilIDesk whose site you are about to access. Neither Kotak Cards nor any of its affiliates nor their directors, officers and employees will be liable to or have any responsibility of any kind for any loss that you incur in the event of any deficiency in the services of BiIIDesk to whom the site belongs, failure or disruption of the site of BilIDesk, or resulting from the act or omission of any other party involved in making this site or the data contained therein available to you, or from any other cause relating to your access to, inability to access, or use of the site or these materials.
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By clicking on the hyper-link, you will be leaving www.kotak.com and entering website operated by other parties. Kotak Mahindra Bank does not control or endorse such websites, and bears no responsibility for them.
By clicking on the hyper-link, you will be leaving www.kotak.com and entering website operated by other parties. Kotak Mahindra Bank does not control or endorse such websites, and bears no responsibility for them.
By clicking on the hyper-link, you will be leaving www.kotak.com and entering website operated by other parties. Kotak Mahindra Bank does not control or endorse such websites, and bears no responsibility for them.
By clicking on the hyper-link, you will be leaving www.kotak.com and entering website operated by other parties. Kotak Mahindra Bank does not control or endorse such websites, and bears no responsibility for them.
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By Clicking on “Accept & Proceed”, you are expressing an interest in availing Kotak Home Loan and need value added information such as Property Report for which you will be redirected to a third party co-developed website powered by Teal India Pvt Ltd. Kotak Mahindra Bank does not undertake any liability or responsibility for the Information contained therein.
By clicking on “Accept & Proceed” you will be redirected to a third party co-developed website powered by Teal India Pvt Ltd.
By clicking on “Accept & Proceed” you will be redirected to a third party co-developed website powered by Teal India Pvt Ltd.