Steps to be followed while applying for a Kotak Mahindra Mortgage Loan:

1. Submit the Kotak Mahindra a digital application form for a mortgage loan
2. Complete the form and then submit certain important documents. These include KYC, Financial, and Property 
3. The mortgage loan processing by the bank will be initiated and includes legal and technical verification 
4. The mortgage loan eligibility of the applicant is determined by the bank. Following this the Kotak Mahindra Bank provides you with a sanction letter. It includes the following details sanctioned loan amount, interest rate, loan tenure, type of interest rate applicable, EMI payable, validity of sanction letter, special conditions (if any), and other terms and conditions 
5. Finally, the documents are verified and the loan disbursement request is raised, Kotak Mahindra Bank will issue a disbursement cheque. 

There are a few documents that you will need to submit while applying for a Kotak Mahindra Mortgage Loan. They are given in tabular form below:

Kotak Mahindra Bank provides for a mortgage loan at the lowest interest rate available. It means that you will have less burden of repaying a loan against property. Since the EMI you will need to pay will be lower.

After submitting the documents and you fulfill all the mortgage loan eligibility as requested by the bank, your mortgage loan shall be sanctioned by Kotak Mahindra within 7 – 5 Days

A minimum CIBIL score in the range of 650 is what you need to possess to secure a Kotak Mahindra Mortgage Loan.

The minimum mortgage loan amount sanctioned by Kotak Mahindra Bank is Rs 10 Lakh. Meanwhile, the Maximum mortgage loan amount is 5 Crore.

It is not compulsory to have a co-applicant while applying for a Kotak Mahindra Mortgage Loan. However, if you do have one it helps in significantly improving your loan eligibility significantly, which in turn helps prove to the lender your ‘Creditworthiness’.

The rate of interest for Kotak Mahindra Mortgage Loan is floating interest rate which is linked to RLLR ( REPO LINKED LANDING RATE )
Therefore it will reused by the change every time the repo rates gets reused by the regulator

In case you possess IT returns of three financial years that you can show, the chances of you securing an lDFC First Bank Mortgage Loan increases significantly. Moreover, you can secure it even if you do not have IT returns of three financial years, if you are seeking a small mortgage loan amount and you have a good CIBIL score to prove that you are ‘Creditworthy’.

Typically, after applying for a Kotak Mahindra Mortgage Loan and submitting necessary documents, to get a sanction letter from Kotak Mahindra, It will usually take 3 to 7 working days to get the mortgage loan disbursed.

A few additional details that you need to know about Kotak Mahindra Mortgage Loan are given below. They are as follow: 

1. Features of a Kotak Mahindra Mortgage Loan:

   There are a few salient features of Kotak Mahindra Mortgage Loan. They are as follows: 

   1. Provision of longer loan tenure and low EMI’s 
   2. No hidden charges 
   3. Offering of customized mortgage loan for self-employed professionals 
   4. A large maximum loan amount of up to Rs 5 crore  offered