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Range of Interest Rate

9.50% Onwards

Processing Fee Range

1 % Onwards

Loan Amount

10 Lakh – 5 Crore

Range of Loan Tenure

1-15 years

 

Key Salient Features

  • Balance Transfer
  • Loan Top-Up
  • Lowest Interest Rates

 

Documentation

  • KYC– Aadhar Card and PAN Cardd
  • Financial– Bank statement, Salary slips, latest form 16
  • Property– Allotment Letter and Registered Sale Deed

 

Trivia

  • The total number of branches of Kotak Mahindra Bank in India is 1,869
  • Average loan approval time is about 3-7 working days

USP’s

Doorstep Service

Dedicated Relationship Manager

Minimum Documentation

Fastest Sanction Process

 

Fee and Charges Details

  • For part-prepayment in excess of 25% outstanding loan amount 3% of excess prepayment amount. For full prepayment anytime after lock in period 3% of the foreclosure amount in addition to amounts prepaid during the last 12 months.

Disclaimer

  • All intellectual property including trademarks, logos belong to the owner
Other Key Information:
Particulars Salaried Self-Employed
Age 21 to 60 Years 21 to 60 Years
Prepayment Charges/Foreclosure Zero Zero

FAQs

How do you apply for a Kotak Mahindra Mortgage Loan?

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. 
What is the list of documents required to be submitted while applying for a Kotak Mahindra Mortgage Loan?

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:

 

KYC Documents

Aadhar Card, PAN Card
Voter’s ID, Driving License
Electricity Bill, Photo ID Cards issued by the State or Central Government
Application form duly filled with passport-size photos of applicants and co-applicants

KYC Documents

Salaried
  • The previous three months’ salary slips and
    the Latest Form-16
  • Latest 2 years Form 16
  • IT Returns for the last three years
Self-Employed/Professional
  • Business Profile of the Applicant
    Latest 3 years ITR with Computation of Income
  • Balance Sheet, Profit, and Loss Account, and respective schedules
  • GST Registration Certificate, GSTR-3B Returns of
    latest 1 Year, and GSTR-3B Returns of latest 1 Year
    Company Udhyam certificate

Property Documents

Registered Sale Deed, and Draft Sale deed agreement/document copies
Allotment Letter, NOC (No Objection Certificate) from Society/Builder
Receipts of payments made to the Real Estate developer
Why should you choose Kotak Mahindra Mortgage Loan?

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.

How long does it take to get a Kotak Mahindra Mortgage Loan sanctioned?

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

What is the minimum CIBIL score required to secure a Kotak Mahindra Mortgage Loan?

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

What is the maximum and minimum mortgage loan amount sanctioned by Kotak Mahindra Bank?

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

Is a co-applicant mandatory for a Kotak Mahindra Mortgage Loan?

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’.

How frequently will my rate of interest change during the tenure of a Kotak Mahindra Mortgage Loan?

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

Am I eligible for a Kotak Mahindra Mortgage loan if I do not have my returns for three financial years?

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’.

How soon can I get my Kotak Mahindra Mortgage loan disbursed after it is sanctioned?

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.

Other Information of Kotak Mahindra Mortgage Loan:

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
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EMI Calculator

Loan Amount

Rate of Interest

%

Loan Tenure (Years)

Years

Monthly EMI

21,617

Principal Amount

25,000,000

Interest Amount

23,000,000

Total Amount Payble

47,000,000

Interest Amount

Principal Amount

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Was struggling to get loan for my home from last 3 months, suddenly one day I found Loan Bazaar on google who is one of the most well known DSA for home loan. They offered me doorstep service and with the limited paper work, they santioned my loan within 7 days. Thanks to Loan Bazaar.

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