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Kotak Mahindra Bank Home Loan Highlights
| Particulars | Details |
| Interest Rate | 8.65% p.a. onwards |
| Loan Amount (LTV Ratio) | Up to 90% of property value |
| Loan Tenure | Up to 25 years |
| Processing Charges | Up to 1% of the loan amount (50% off on processing fees for digital applications) |
| Minimum Monthly Income | Rs 20,000 (Delhi, Mumbai, Chennai, Pune, Bangalore) Rs 15,000 (Other cities) |
Note: Last Updated on 17 April 2025
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Kotak Bank Home Loan Interest Rates
The home loan interest rates of Kotak Mahindra Bank start from 8.65% p.a. onwards. The lender offers differential interest rates based on the employment profiles of the applicants.
Floating Interest Rates
| Applicant Type | Interest Rates (p.a.) |
| Salaried | 8.65% onwards |
| Self-employed | 8.65% onwards |
Fixed Interest Rates
| Applicant Type | Interest Rate (p.a.) |
| For existing home loan customers switching from a floating interest rate to a fixed interest rate | 12% onwards |
Compare Kotak Home Loan Interest Rates with Other Lenders
| Name of Lender | Loans Up to Rs. 30 Lakh | Loans Above Rs. 30 Lakh to Rs. 75 Lakh | Loans Above Rs. 75 Lakh | |
| SBI | 8.00%-9.20% p.a. | 8.00%-9.20% p.a. | 8.00%-9.20% p.a. | Check Eligibility |
| HDFC Bank Limited | 8.45% p.a. onwards | 8.45% p.a. onwards | 8.45% p.a. onwards | Check Eligibility |
| Bajaj Housing Finance | 7.99%-17.00% | 7.99%-17.00% | 7.99%-17.00% | Check Eligibility |
| ICICI Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | Check Eligibility |
| Axis Bank | 8.75%-12.80% p.a. | 8.75%-12.80% p.a. | 8.75%-9.65% p.a. | Check Eligibility |
| Federal Bank | 8.55% p.a. onwards | 8.55% p.a. onwards | 8.55% p.a. onwards | Check Eligibility |
| Punjab National Bank | 8.05% - 9.85% p.a. | 8.00% - 9.75% p.a. | 8.00% - 9.75% p.a. | Check Eligibility |
| Kotak Mahindra Bank | 8.65% p.a. onwards | 8.65% p.a. onwards | 8.65% p.a. onwards | Check Eligibility |
| Bank of Baroda | 8.00% - 9.65% p.a. | 8.00% - 9.65% p.a. | 8.00% - 9.90% p.a. | Check Eligibility |
| Canara Bank | 8.00% – 10.75% p.a. | 7.95% – 10.75% p.a. | 7.90% – 10.65% p.a. | Check Eligibility |
| IDFC FIRST Bank | 8.85% p.a. onwards | 8.85% p.a. onwards | 8.85% p.a. onwards | Check Eligibility |
| IDBI Bank | 8.40% p.a. onwards | 8.40% p.a. onwards | 8.40% p.a. onwards | Check Eligibility |
| Punjab & Sind Bank | 8.05% – 11.25% p.a. | 8.05% – 11.25% p.a. | 8.05% – 11.25% p.a. | Check Eligibility |
| RBL Bank | 9.00% p.a. onwards | 9.00% p.a. onwards | 9.00% p.a. onwards | Check Eligibility |
| LIC Housing Finance | 8.00% p.a. onwards | 8.00% p.a. onwards | 8.00% p.a. onwards | Check Eligibility |
| Tata Capital Housing Finance | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | Check Eligibility |
| PNB Housing Finance | 8.50% - 14.50% p.a. | 8.50% - 14.50% p.a. | 8.50%-11.45% p.a. | Check Eligibility |
| Sammaan Capital (Formerly known as Indiabulls Housing Finance) | 8.75% onwards | 8.75% onwards | 8.75% onwards | Check Eligibility |
| Aditya Birla Capital | 8.60% onwards | 8.60% onwards | 8.60% onwards | Check Eligibility |
| India Shelter Home Loan | 11.59% onwards | 11.59% onwards | 11.59% onwards | Check Eligibility |
| L&T Finance Limited | 8.65% p.a. onwards | 8.65% p.a. onwards | 8.65% p.a. onwards | Check Eligibility |
| Godrej Housing Finance | 8.55% onwards | 8.55% onwards | 8.55% onwards | Check Eligibility |
| Home First Finance | 11.90% onwards | 11.90% onwards | 11.90% onwards | Check Eligibility |
| Easy Home Finance | 8.95% onwards | 8.95% onwards | 8.95% onwards | Check Eligibility |
| Piramal Capital Housing Finance | 9.50% onwards | 9.50% onwards | 9.50% onwards | Check Eligibility |
| Cholamandalam Investment and Finance | 10.50% onwards | 10.50% onwards | 10.50% onwards | Check Eligibility |
Kotak Bank Home Loan Processing Fees & Other Charges
Below-mentioned are the details on processing fees and other charges associated with Kotak bank home loan:
Processing Fees
| Particulars | Details |
| For salaried applicants | 0.50% of the loan amount |
| For self-employed applicants | 1% of the loan amount |
| For digital applications | 50% off on processing fees |
Apart from the above processing charges, the bank also charges upfront processing fees of Rs 5,000.
General Fees & Charges
| Particulars | Details |
| Duplicate NOC | Rs 100 |
| Copy of property documents, etc.) | Rs 500 |
| Repayment mode/ Account swap charges |
Rs 500 |
| Loan cancellation Charges | 0.10% of the loan amount or Rs. 25,000 whichever is higher (plus taxes and any other applicable statutory dues) |
| Legal charges | At actuals |
| Penal Charges in delay or default in payment of principal or interest or the outstanding balance | 8% p.a. on overdue amount plus applicable taxes |
| Penal Charges of non-payment of dues/ charges/ fees payable under loan/facility agreement | 8% p.a. on overdue amount plus applicable taxes |
Prepayment Charges
- Prepayment/foreclosure is NIL for floating rate loans for non-business end-use.
- No prepayment/foreclosure is allowed till the lapse of the lock-in period of 6 months after home loan EMI commencement.
- After the lapse of the lock-in period, part prepayment of a minimum Rs 25,000 and a maximum of up to 25% of the outstanding loan amount can be made without any prepayment charges every 6 months.
- The minimum period between any two prepayments shall be at least 6 months for part prepayment made over 25% of the outstanding loan amount.
- 2% of the foreclosure loan amount along with amounts prepaid during the last 12 months shall be charged.
Charges Specific to Overdraft Facility
| Particulars | Details |
| Annual Renewal Charges | Renewal fees of 0.25% of the limit (dropped limit after reduction of annual drop) per instance |
| Non Utilisation Charges | If the average utilization of facility limits for a quarter is below 25% of sanctioned limits, 0.4% p.a. on the under-utilized limits or proportionately shall become due & payable on underlying exposure (from the day of breach) |
| Penal charges in case of overline accounts or where the amount drawn by the Borrower is beyond the maximum Overdraft Limit |
8% pa on overdue amount |
Kotak Mahindra Home Loan Documents Required
The list of documents required for a home loan from Kotak Mahindra Bank has been presented below.
- Duly signed application form with a photograph
- PAN Card
- Aadhaar Card
- Passport
- Address Proof
- Bank statement
- Salary slip for last 3 months
- ITR and Form 16
- Job Confirmation Proof
- Relationship Proof
- Proof of business existence
- Business Profile
- Business Reference
- Power of Attorney
- Information regarding loans availed with its track record
- Education qualification certificate and proof of business existence
- ITR for the last 3 years with income computation
- Balance sheet for last 3 years along with profit and loss account certified by a Chartered Accountant
- All property documents with sanction map
Apply for Kotak Home Loan at Attractive Interest Rates Click Here
Eligibility for Kotak Mahindra Bank Home Loan
Kotak Mahindra Bank may also check the credit score of its home loan applicants while setting home loan eligibility, just like other lenders do.
For Kotak Housing Loan
| Particulars | Details |
| Age | For Salaried: 18-60 years |
| For Self-employed: 18-65 years | |
| Gross Income of Indian Resident | At least Rs 20,000 per month for Delhi, Bangalore, Mumbai, Pune and Chennai |
| At least Rs 15,000 per month for other cities | |
| Minimum Qualification | For applicants working in private limited companies and partnership firms: Bachelor’s Degree |
| For applicants employed with a public limited company or MNC or Government or public sector company: No minimum qualification | |
| For Hindu Undivided Family (HUF) | The applicant or the co-applicant should be the Karta of Hindu undivided Family |
| The HUF should provide their IT returns for at least 3 years | |
| The HUF should have existed for at least 3 years | |
| The minimum net income requirement for Hindu Undivided Families living in Delhi, Bangalore, Mumbai, Pune, and Chennai is Rs 2.4 lakh p.a. and for other cities is Rs 1.8 lakh p.a. |
Kotak NRI Home Loan
- Maximum Age: 58 years at the time of loan maturity
- Should be a graduate and employed for at least 3 years
Minimum Income Requirement
Salary should be received on a weekly/fortnightly/monthly basis either through cheque or direct bank credit and not by cash.
For loan tenure up to 5 years annual gross salary should be:
- USA/UK/Other countries excluding gulf
- USD 20,000 for the Merchant Navy
- Dirhams 36,000 for Gulf countries
For loan tenure above 5 years to 15 years:
- USD 42,000 for USA/UK/Other countries excluding Gulf
- USD 26,000 for the Merchant Navy
- Dirhams 48,000 for Gulf countries
For Kotak NRI Home Improvement Loan
- Maximum Age: 58 years
- Minimum Qualification: Graduation
- Employed for last 3 years
Minimum Income Requirement
Salary should be credited to the bank account on a weekly/fortnightly/monthly basis through cheque or direct bank transfer.
For tenure up to 5 years:
- Dirhams 36,000 for Gulf countries
- USD 30,000 for USA/UK/Other countries excluding gulf
- USD 20,000 for the Merchant Navy
For tenure above 5 years:
- Dirhams 48,000 for Gulf countries
- USD 26,000 for the Merchant Navy
Kotak Mahindra Bank Home Loan EMI Calculator
Applicants get an estimate of their home loan EMI by using the calculator available below.
Monthly EMI ₹ 15,622
Total Amount Payble ₹ 5,62,395(Principal + interest)
Principal Amount ₹ 5,00,000
Total Interest Payble ₹ 62,395
Types of Kotak Mahindra Bank Home Loan
Kotak Housing Loan
Purpose: Kotak Mahindra Bank offers regular home loans to its applicants to finance the purchase of new homes or renovation of existing home properties.
Tenure: Up to 25 years
Kotak Home Improvement Loan
Purpose: Applicants can avail Home Renovation/Improvement Loans from Kotak Mahindra Bank for upgrading their existing home properties.
LTV Ratio: Up to 90%
| Loan Amount | LTV Ratio |
| Rs 35 lakh to Rs 70 lakh | Up to 80% |
| Above Rs 75 lakh | Up to 75% |
Tenure: Up to 25 years
Kotak NRI Home Loan
Purpose: NRIs can avail Kotak NRI Home Loans for the purchase or construction of homes or the upgradation of existing homes in India
Loan Amount: Up to 80% of improvement cost
Tenure: Up to 15 years
Kotak NRI Home Improvement Loan
Purpose: NRI applicants can avail NRI Home Improvement Loans from Kotak Mahindra Bank for renovating, upgrading or furnishing their existing homes in India.
Loan Amount: Up to 80% of improvement cost
Tenure: Up to 10 years
Kotak Home Loan Balance Transfer
Purpose: Existing home loan borrowers of other banks and HFCs can avail Kotak Mahindra Bank Home Loan Balance Transfer facility for transferring their existing home loans to Kotak Mahindra Bank at lower interest rates.
Kotak Home Loan for Women
Purpose: Kotak Mahindra Bank offers affordable housing loans to women including single women and widows with a concession of 1-2% on stamp duty.
LTV Ratio: Up to 85% of property cost
FAQs on Kotak Mahindra Bank Home Loan
What is the current home loan interest rate offered by Kotak Mahindra Bank?
Kotak Mahindra Bank offers home loan interest rates starting from 8.65% p.a. depending on the employment type of its applicants.
Can I choose between fixed and floating interest rates?
Kotak Mahindra Bank offers home loans at both floating and fixed rates. Fixed interest rate home loans are offered only to existing home loan customers switching from a floating to a fixed interest rate.
Can I foreclose my home loan availed from Kotak Mahindra Bank?
Yes, you can foreclose the home loan. No foreclosure fee is charged on home loans at floating rates of interest.
What is the turnaround time for the disbursal of Kotak Mahindra Home Loan?
Kotak Mahindra Bank claims to disburse home loans in 2 working days after the submission of relevant documents.
Who can be the co-applicant for my home loan?
Your spouse, parents or your major children can be your co-applicants. The co-owner of the property should necessarily be the co-applicant, but the co-applicant need not be the co-owner of the property.
What is the minimum credit score required to avail home loans from Kotak Mahindra Bank?
Kotak Mahindra Bank has not mentioned the cut-off credit score for home loan applicants. However, applicants having credit scores of 750 and above usually have higher chances of availing home loans at lower interest rates.
Is the processing fees for Kotak Mahindra Bank home loans refundable?
No, Kotak Mahindra Bank does not refund processing fees levied on home loan applications. However, it does not charge any processing fees on online home loan applications.
What can be the reasons for the rejection of a home loan?
A home loan application can be rejected due to poor credit score, frequent job changes, age, high EMI/NMI ratio, etc. of the home loan applicant and/or due to issues related to property and documentation.