Kotak Mahindra Bank offers home loans to customers to help them fulfill their dream of owning a home. The home loan can be availed for purchase of a new house, construction of a house, purchase of an existing house or for home improvement. The loan amount is based on the customer's eligibility and repayment capacity.
The bank also offers special benefits like no pre-payment charges, attractive interest rates, minimal documentation, doorstep service and more. Customers can apply for the loan online, via a phone call or by visiting a branch.
Why take a Home Loan from Kotak?
- Attractive Interest Rates - Kotak Mahindra Bank offers competitive interest rates on their home loan products, making them more affordable.
- Minimal Documentation - The bank requires minimal documentation to process the loan, making it easier and faster for customers to avail the loan.
- Doorstep Service - The bank provides doorstep service for customers to apply for the loan.
- No Prepayment Charges - The bank does not charge any pre-payment charges, making it easier for customers to pay off the loan earlier.
- Flexible Repayment Option - The bank offers flexible repayment options for customers. Customers can choose from a range of repayment options like monthly, quarterly or yearly basis.
- Top-Up Loan - The bank also offers top-up loan facility to existing home loan customers.
- Repayment Holiday - The bank offers repayment holiday to customers to help them manage their finances better.
Features
- Attractive interest rate
- Flexible tenure options
- No pre-payment charges
- Minimal documentation
- Doorstep service
- Balance transfer facility
- Quick disbursal
- Customized repayment options
- Loan amount up to Rs. 3.5cr
- No guarantor or collateral required
Eligiblity Criteria
- Indian Resident
- Age: 21-60 years
- Min. Income: Rs. 20,000 per month
- Minimum work experience: 2 years Minimum
- Minimum loan amount: Rs. 1 lakh
Home loan Benefits
- Quick processing and disbursal
- No foreclosure charges
- Balance transfer facility
- Customized repayment options
- Option to make part payments
- Loan protection insurance
Fee & Charges
- Processing Fees: Up to 2.25% of loan amount
- Pre-payment Charges: Nil
- Late Payment Charges: 2% p.m. on overdue amount
- Stamping Charges: As applicable
- Legal & Technical Charges: As applicable
- Foreclosure Charges: 3% to 5%
- CIBIL Report: Rs. 50 + GST
- Interest Rate: 10.25% p.a.
How to Apply
- Visit the Kotak Mahindra Bank website
- Fill in the application form
- Upload the required documents
- Submit the form
- Wait for the bank to process your application
- Once your application is approved, the loan amount will be disbursed to your account
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