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Kotak Mahindra Bank Home Loan

Home Loan

Kotak Mahindra Bank offers a range of home loans in India to help individuals purchase their dream homes. As a significant investment, we understand the importance of making the right decision, which is why we provide comprehensive information on home finance, including interest rates, eligibility criteria, and customisable loan offerings. Whether you are a first-time homebuyer, upgrading to your dream home or planning to reduce your Housing Loan EMI by shifting, we have the perfect solution to suit your needs. Our website offers helpful resources such as home loan calculators and FAQs to guide you towards making an informed decision. Take the first step towards owning your dream home in India today by applying for housing finance with Kotak. You can apply online for a Kotak Home Loan via our website, Mobile Banking App, or by simply walking into your nearest Kotak Mahindra Bank branch. Via our online process, you can enjoy ease and convenience of a quick loan processing and get your Home Loan sanction letter within 10 minutes.

Features and Benefits of a Home Loan

Attractive interest rates

RBI's Repo rates linked

Minimal Documents

Hassel free, simple and quick processing

50% off on processing fees

For all digital applications

25 years tenure

Customizable repayment tenure as per you requirements.

What is Home Loan Eligibility

Your home loan eligibility determines whether you qualify for borrowing a home loan or not. Your lending bank conducts this mandatory housing loan eligibility check when you apply for a home loan. Based on your documentation, credit score and financial history the lending bank os able to analyse your financial status, creditworthiness and repayment capacity. A favourable impression that you leave on the lender increases your chances of getting a home loan. That’s why, before applying for a home loan it is important that you understand the eligibility criteria and make sure you fit the bill.

How is Home Loan eligibility calculated?

Add pYou can check your home loan eligibility by taking into account different factors such as your monthly income, current age, credit score, existing loan obligations (if any), and the years left to your retirement. Alternatively, you can also use our home loan eligibility calculator to calculate the exact amount of loan that will be disbursed. Just enter the required details like your monthly income, existing EMIs, and loan tenure along with  other details and our housing loan eligibility calculator will instantly display the total loan amount for you.

Home Loan Eligibility Criteria

Home Loan Eligibility Criteria for an Individual


  • Home Loan Eligibility for Salaried persons is between 18 and 60 years.

  • Home Loan Eligibility for Self-employed persons is between 18 and 65 years.


Indian Resident with a Gross Income of:

  • Minimum Income of Rs. 20,000 per month for residents of Delhi, Mumbai, Bangalore, Pune, and Chennai.

  • Minimum Income of Rs. 15,000 per month for the residents of other cities.


Minimum Qualifications:

  • If the applicant works with a private limited company or a partnership firm, the minimum educational qualification required is a Bachelor’s degree.

  • If the applicant is employed with either a public limited company or MNC or Government or public sector company, no minimum qualification is required.


Home Loan Eligibility Criteria for a Partnership Firm/ LLP/ Indian Company

  • The firm/organization should have been existing for a minimum of three years.

  • The partnership firm/LLP/Indian Company should have a minimum net income of:

    • 2,40,000 per annum for companies/firms/LLPs in Delhi, Mumbai, Bangalore, Pune, and Chennai.

    • 1,80,000 per annum for companies/firms/LLPs in other cities.


Home Loan Eligibility Criteria for a Hindu Undivided Family (HUF)

  • The applicant or the co-applicant must be the Karta of the HUF.

  • The HUF should have been in existence for a minimum of three years.

  • The HUF should provide their IT returns for a minimum of three years.

  • HUF with a Minimum Net Income of:

    • 2,40,000 per annum for the HUFs in Delhi, Mumbai, Bangalore, Pune, and Chennai.

    • 1,80,000 per annum for the HUFs in other cities.

Factors Affecting Housing Loan Eligibility

These factors affect your housing loan eligibility:

  • Your Monthly income: Your monthly income is one of the most important aspects of a home loan application process. It helps lenders decide the total amount of loan that you can afford. A person with a low income will be eligible for a lower loan amount and vice versa.

  • Your Current Age: Next important factor that affects your home loan eligibility is your current age. If you are young, then you can opt for a long loan tenure. Since tenure is long your interest rate will be low, which, in turn, will lower your EMI.

  • Credit History: A good credit history indicates that you are sincere in paying your dues and that you have a solid financial state. A good credit history leaves a positive impact on the lenders, which increases your chances of getting a home loan.

  • Existing Loan Obligations: It is to keep in mind that if you have any existing loan obligations, it can impact your housing loan eligibility. These are considered as regular monthly expenses that can affect your loan repayment ability.

  • Regulatory Requirements: The National Housing Bank (NHB) has set a limit that decides the maximum loan amount that can be disbursed. This depends on the cost of the residence. The high-priced homes in the market may have lower maximum limit while the lower-priced homes may have a higher maxim limit.

You can check our home loan eligibility checker to calculate the exact loan amount you are eligible for.

Home Loan Calculator

A Home Loan EMI Calculator is an online tool that helps you calculate the Equated Monthly Installment (EMI) for your home loan. With a Home Loan EMI Calculator, you can easily determine the monthly installment amount you'll need to pay towards your home loan.

Kotak Mahindra Bank provides an easy-to-use home loan calculator that helps you calculate your housing loan EMIs and make informed decisions about owning your dream home. With the housing loan calculator, you can quickly determine your home loan EMIs based on the housing loan amount, rate of interest, and other factors. Kotak Mahindra Bank offers attractive interest rates and EMIs starting at ₹849 per Lakh*, so you can buy your dream home without hassle.

What is Home Loan EMI?

Home loan EMI is a systematic and easy approach towards home loan repayment. EMI stands for equated monthly installment, which includes principal amount, and the interest payable divided through the tenure chosen. Home loan borrower has to make the repayment of the loan each month in the form of home loan EMI.

How is EMI on Home Loan Calculated?

The EMI on a home loan is calculated using a formula that considers the loan's principal amount, the tenure in months, and the monthly interest rate. The formula for calculating Equated Monthly Installment (EMI) for a home loan is as follows:

EMI= [P x R x (1+R)^N]/[(1+R)^N-1]

Where P = Loan’s principal amount

R = Monthly rate of interest

N = Tenure of the loan (in months)

For example:

For a home loan amount of 50,00,000 INR for 20 years and the yearly rate of interest of 6.55%, the EMI amount will be computed as follows:

EMI = [50,00,000*0.005*(1+0.005) ^240]/[(1+0.005)^240-1] = 37,426 INR

Home Loan Calculator Features and Benefits

Here are the benefits you can enjoy with Kotak Mahindra Bank’s housing loan EMI calculator:

  • It is a simple and user-friendly home loan EMI calculator anyone can use.

  • The home loan interest rate calculator helps you find out the exact amount of interest and compare the interest rates and tenure.

  • You can calculate the amount in just a few minutes

  • It helps decide on the loan tenure the borrower should choose while keeping his monthly expenses and other loan EMIs in mind.

  • It assists in better financial planning

  • It helps the borrower determine the accurate EMI amount payable

How to use Kotak Mahindra Bank’s Home Loan Calculator?

Kotak Mahindra Bank provides a simple and convenient housing loan EMI calculator in India. By entering the home loan amount, interest rate, and loan tenure (in years), you can get an exact EMI value displayed in seconds

Home Loan Amortization Schedule

An amortisation schedule is a table that shows the periodic payments and the amount of principal and interest that make up each payment for the entire loan term. It also shows the remaining loan balance after each payment is made.

  • Visit Kotak Mahindra Bank’s website

  • Go to the home loan EMI calculator page

  • Enter the required values like home loan amount, interest rate, tenure, etc.

How To Reduce EMI Amount On A Home Loan

Once the home EMI calculator shows you your EMI amount you will have a clearer picture of your home loan. To reduce your EMI amount on a home loan follow these tips:

  • Choose a higher down payment- A higher down payment gives you a lesser principal amount on which the EMI is calculated. If the principal amount is low the EMI will also be lower.

  • Choose a long repayment tenure- Long repayment tenure give your more time to repay your loan and hence the EMI is also reduced.

  • Take a balance transfer loan- These loans are offered at lower rates of interest.

Home Loan Required Documents

The documents required for home loan from Kotak Mahindra Bank are simple and hassle-free. Any lender takes the documentation into account when approving your loan application as these documents are an indicator of your financial stability as well as creditworthiness. The home loan documents is one of the crucial home loan requirements. Even at Kotak Mahindra Bank, we take the home loan documents process quite seriously.

But many times the applicants face difficulties while submitting the home loan documents due to complex requirements. That’s why, Kotak Mahindra Bank makes the home loan documents process extremely systematic and transparent, right from the start.

Nature of employment, that is, salaried or self-employed and your residential status, that is, whether you are an Indian resident or an NRI impacts the home loan documents list. Apart from these, the type of property is also a crucial factor that determines what home loan documents are required to pass your home loan application.

Home Loan Document

                         Home Loan Document Checklist for Various Customers


Documents Required for a Home Loan, Salaried Professional, Self-employed Professional (SEP), Self-employed Non-professional (SENP), Co. / HUF / Partnership Firm / LLP, Non- Resident Indians (NRI)

  • Application form with photograph duly signed

  • PAN card

  • Aadhaar card

  • Passport

  • Residence proof copy

  • Bank statement

  • Last three months salary-slips  (six months in case of NRI with variable salary)

  • Form 16 and income tax

  • Job confirmation proof

  • Relationship proof

  • Proof of business existence

  • Business profile

  • Business reference recommendatory

  • Power of attorney

  • Information regarding loan availed with its track record (if any existing loans)

  • Education qualification certificate and proof of business existence

  • Last three years income tax returns (ITR) with computation of Income

  • Last three years’ balance sheet and profit & loss account certified/audited by a CA.

  • All property documents (chain) with sanction map

Type of Other Home Loan Fees & Charges

Home loan processing fee is a charge that the applicant pays during the home loan application. However, there is not only one type of home loan but more than one, and each comes with different home loan processing fees and other charges. Let's take a look at these home loans and the charges they come with.

  • Home Renovation Loan

Home renovation loan is used to specifically upgrade your home, be it redecorating or repairing. It can be used for both. The home loan processing fee that the bank charges for this type of loan ranges from 0.25 % to 2.00 %. No prepayment charges are levied in this type of home loan.

  • Home Loan Balance Transfer

Home loan balance transfer facility is used when borrowers are paying a high interest rate on their existing home loan and wish to switch to another bank offering lower interest rate and a better home loan deal. The home loan processing charges in this type of home loan can go up to 6 %. Foreclosure charges for floating rates are nil, but for fixed-rate one has to pay 4 % of the principal outstanding.

  • Home Construction Loan

A home construction loan provides the borrowers with funds to build a house. The home loan processing fees for this type of home loan can go up to 2 %, and the borrower doesn’t have to pay any prepayment on the floating interest rate, but for the fixed interest rate, it depends on the lender.

  • Bridge Loan

The processing fees generally start at 0.35 % and goes up to 3 %.

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