Home Loan Interest Rate Kotak

What Is Kotak Mahindra Bank Home Loan Rates?

Kotak Mahindra Bank is a such organization that can help you turn your dream home into a reality.

This is a private sector bank, It provides home loan to the borrowers with various facilities and services.

Kotak Mahindra Bank Home Loan Interest Rate May 2022.

Particulars Details

• Interest Rate 6.55% - 7.10%
• Loan Amount Customized
• Tenure Up To 20 years
• Processing Fee UpTo 1.25% of the loan amount + GST.
• Prepayment & Foreclosure No charges taken in case of floating rate loans.

If we talk about the interest rates of this bank so, the bank provides you two types of interest rates like - floating interest rates and fixed interest rates. So, it is totally depends on you which scheme you are going to pick.

Kotak Mahindra Bank offers quick and attractive housing loans with interest rates starting at 6.5%*.

Kotak Mahindra Bank has updated their interest rate on home loan to 6.60% p.a.

The revised home loan interest rate will be applicable on the new home loan as well as the balance transfer home loan also.

Kotak Mahindra Bank has offers a home loans for online applicants at very attractive interest rates and zero % on processing charges.

There are home loans for the Indian residents and non-resident Indians and as well as home improvement loans.

Interest rates are range from 6.60% - 7.20% p.a., processing fee is taken by borrowers maximum 2% of the principal amount + GST. PMAY interest subsidy is also available for EWS, LIG ​​and MIG categories of borrowers. The loan tenure is up to 20 years.

• Interest Rate for Salaried- 6.60% - .7.10%
• Interest Rate for Self employed- 6.65% - 7.20%

Eligibility Criteria For loan of Kotak Mahindra Bank:-

• Requirements Salaried Self Employed
• Residency Indians & NRI Indians & NRI
• Age 18-60 Years 18-65 Years
• CIBIL Score 750& above 750& above
• Loan Tenure Up to 20 Years Up to 20 Years
• Min. Income Rs.20,000/M Rs.20,000/M
• Min. loan amt. Check with bank Check with Bank
• Max.Loan amt. Check with Bank Check with Bank

Main idea:

• Interest Rate (per annum): 6.60% to 7.20%
• Processing Fee: 0.50% of sanctioned amount + GST.
• Available to applicants aged of 18 years to 65 years.
• Zero % processing charges only for online application.
• Option of insurance is available to cover your home loan available at attractive premiums.
• Zero % charges on prepayment & foreclosure.

Frequently Asked Questions

1.For what purposes can I take a personal loan from Kotak Mahindra Bank?

You can take a home loan from Kotak Mahindra Bank to buy a property, flat or plot. You can also get a loan for renovation or furnishing of your existing house or flat.

2.How long will it take for my home loan to be disbursed?

After submitting all the documents demanded by the bank, it will take 2 working days for the bank to disburse the loan to your bank account.

3.How long will it take for my home loan to be disbursed?

After submitting all the documents demanded by the bank, it will take 2 working days for the bank to disburse the loan to your bank account.

4.Is it possible for properties in rural areas to avail benefits under PMAY scheme?

No, PMAY scheme is not applicable for properties in rural areas. This facility can be availed only by eligible applicants having house in urban areas.

5.Who can be my co-applicant for Kotak Mahindra Bank Home Loan?

If you are an individual borrower, your parents, spouse and older children can be co-applicants. If you have a co-owner of the property, he should be a co-applicant for the loan.

6.Can I increase my home loan amount with Kotak Mahindra Bank?

It depends on your eligibility and profile. If you are eligible for this on the basis of your credit profile, income and other details then you can apply for it in the bank.

With GRD India financial services Pvt. Ltd. you can get instant home loan at very low interest rates, it provides all kind of services to their client as per the banks norms. They make efforts for the clients in providing best loan price.

Please visit to the site and get extra benefits

For online application visit- www.grdindia.in

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