Kotak Mahindra Bank

Kotak Mahindra Bank

Bank Name
Interest Rate Range
Processing Fee Range
Loan Amount
Tenure Range

Rate of Interest

  • Floating rate of Interest : 8.75% p.a. to 9.65% p.a.
  • Fixed Rate of Interest : 11% p.a. 
  • Home Saver plan : 9.25% p.a.

Eligibility Criteria

  • Minimum 21 years of age and maximum 65 years
  • Loan period from 3 years to 25 years
  • Should be either salaried or self-employed and have regular source of income
  • Should have sufficient income to pay EMI on required loan
  • Applicant must be Indian Citizen, in case of NRI or person of Indian origin it should be properly documented

Fees and Charges

  • Processing Fees 0.00% to 1.00% depends on type and category of borrower
  • Preclosure Charges – Rs 0
  • Part Payment charges- Rs 0
  •  No any other hidden charges

Documents Required

  • KYC- Pan Card, Adhar Card, ID Proof and Address proof
  • ITR with computation for 3 years with Income proof
  • Bank Statement
  • Photograph
  • 2 references

Value Additions

  • Doorstep services
  • E- approvals
  • Part payment allowed

Special Feature

  • No guarantor required
  • No pre-closure or part payment fees
  • Balance Transfer Allowed
  • Top up available

Overview about Kotak Mahindra Bank

Kotak Mahindra Bank is an Indian bank and financial service firm. It is established in 1985. Kotak Mahindra Bank Provides you home loans accompanied by highly customised facilities and services for a seamless and pleasurable home-buying experience. It was previously known as Kotak Mahindra Finance Limited. Kotak Mahindra Finance Ltd. Is the first Company in the Indian banking history to convert to a bank.

Your Eligibility depends on following

You should be minimum 21 years old

You should be maximum 65 years old

You should be salaried or self employed

You should have sufficient income to pay EMI on required loan

You can increase your eligibility by doing following

Make your spouse as co applicant , her/his income will also be added in eligibility
Choose longer tenure of loan period maximum up to 25 years
Add more than one co applicant if required to enhance your eligibility
Close short term loans, this will also increase your eligibility

Rate of Interest and Other Charges for Home Loan are following

Kotak Mahindra Bank Home Loan Interest Rate:


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:


Loan Tenure






1 month



3 months



6 months



1 year



2 years



3 years


Existing Loan take over or New Loan

Here are some points for this:

  • Take a home loan, to pay off existing home loans.
  • Future payments will be made to Kotak Mahindra Bank
  • Transfer your existing home loan at interest rates that are lower than the original loan
  • Top-up the existing loan to get ready cash for any of your needs
  • The procedure of acquiring the loan is now easier and the amount payable for your instalments is designed to make you feel comfortable
  • Doorstep service
  • Attractive interest rates

Features of Loan

Here are some attractive number of features for Kotak Mahindra Bank:

  • Avail Attractive Interest Rates
  • Hassle-free Loans - No Guarantor / Security or Collateral required
  • Repay with easy EMIs
  • Speedy Loan Approval
  • Disbursal in 3-4 Days
  • Quick Loan Disbursal
  • Low interest rates
  • Online loan request option available
  • Low pre-payment charges also waiver is offered after few months.
  • Can instantly check loan eligibility
  • It offers personalized loan quotation for each business requirement
  • 24/7 Customer Support
  • Lot of attention to detail and scrutiny is done before approving the loan amount.

Documents Required for applying  Home Loan  with Kotak Mahindra Bank

  • The application form with self-attested photos duly signed
  • Copy of Driving License, Passport or Voter’s ID card as Identity Proof
  • Address proof
  • Last 3 months’ bank statement or latest ITR or Form 16.
  • Latest Salary Slip or current dated Salary Certificate with latest Form 16 for salaried people
  • 2 passport size photographs in case of both salaried and non-salaried applicants.
  • A cheque for the loan processing fee.
  • Proof of educational qualifications: The applicant needs to submit the documents pertaining to his highest educational degree.
  • Signature proof: PAN card/Driver’s license/Passport copy/Banker’s attestation Bank account statements. Any one of the document can be submitted. However, the applicant’s signature in the provided document should be clear and understandable. The applicant needs to maintain the same signature throughout the loan period.