Apply for Kotak Mahindra Bank Home Loan @ 7.99% Interest Rates
Kotak Mahindra Bank Home Loan Details
| Loan Amount | Up to Rs. 40 Crores |
| Rate of interest | 7.99% p.a. onwards |
| Tenure | Up to 25 years |
| Lowest EMI possible | Rs. 771 Per Lakh |
| Processing fee | Up to 2% of loan amount + taxes & any other applicable statutory dues; Flat Rs. 5,000 for women applicants |
| Prepayment charges | Nil for floating interest rates |
Kotak Mahindra Bank Home Loan Interest Rates 2025
The current Kotak Mahindra bank home loan interest rates are mentioned below:
| Category | Interest Rate (p.a.) |
| Floating Home Loan Interest Rate for Salaried | 7.99% onwards |
| Floating Home Loan Interest Rate for Self-employed | 7.99% onwards |
| Home Loan Interest Rate for existing customers switching from an Adjustable Interest Rate to a Fixed Rate | 12% p.a. onwards (fixed) |
| Home Loan Interest Rate for existing customers switching from a Fixed Rate to an Adjustable Interest Rate | ROI applicable would be the then prevailing floating rates, linked to EBLR (Repo Rate) only |
Kotak Housing Home Loan Comparison with Other Lenders
Below is the comparison of Kotak Mahindra home loan interest rates with home loan interest rates of other lenders to help you choose the best home loan interest rates:
| Lender | Maximum Loan Amount | Interest Rate (p.a.) | Processing Fee |
| Kotak Mahindra Bank Home Loan | Up to Rs. 40 Crores | 7.99% | Up to 2% of the loan amount + taxes & any other applicable statutory dues |
| ICICI Bank Home Loan | Up to Rs. 5 Crores | 7.70% | 0.5% of the loan amount + applicable taxes |
| SBI Home Loan | Up to 90% of property cost | 7.50% – 8.45% | 0.35% of the loan amount (minimum Rs. 2,000 & maximum Rs. 10,000) + GST |
| HDFC Home Loan | Up to Rs. 10 Crores | 7.90% – 9.00% | Up to 1.50% of the loan amount + applicable taxes |
| HSBC Bank Home Loan | Up to Rs. 40 Crores | 7.70% | 1% or Rs. 10,000, whichever is higher + applicable taxes |
| IDFC First Bank Home Loan | Up to Rs. 10 Crores | 8.85% | Up to 3% + GST |
| PNB Housing Finance Home Loan | Up to 90% of property cost | 8.25% | Up to 1% + GST |
| Aditya Birla Housing Finance Home Loan | Up to 90% of property cost | 8.60% | Up to 1% |
| Tata Capital Home Loan | Up to Rs. 7.5 Crores | 7.75% | Rs. 999 to Rs. 10,000 + GST onwards |
| Federal Bank Home Loan | Up to Rs. 15 Crores | 8.75% | 0.50% (Rs. 10,000 to Rs. 2,00,000) |
| Bajaj Finserv Home Loan | Up to Rs. 15 Crores | 7.45% – 18.00% | Up to 4% + GST |
| L&T Housing Finance Home Loan | Up to Rs. 10 Crores | 8.10% | Up to 3% + applicable taxes |
| Bank of Baroda Home Loan | Up to Rs. 10 Crores | 7.45% | Rs. 8,500 to Rs. 25,000 |
| Union Bank of India Home Loan | Up to 90% of property cost | 7.35% – 9.75% | 0.50% (maximum Rs. 15,000) + GST |
Kotak Home Loan Processing Fees & Charges
| Processing fees | Up to 2% of the loan amount + taxes & any other applicable statutory dues; Upfront non-refundable fee of Rs. 5,000 + taxes & any other applicable statutory dues to be collected at the login time |
| Part prepayment charges | Up to 2% |
| Foreclosure charges | Up to 2% |
| Charge for interest certificate/ account statement/ amortisation schedule | Nil if accessed via self-service mode online & Rs. 250 + taxes & any other applicable statutory dues for physical copy |
| Interest rate switch fee | Rs. 2,500 + taxes & any other applicable statutory dues for floating to fixed rate & 0.5% p.a. of each residual tenure (maximum 3%) for fixed to floating |
| Charges for copy of any documents/ letter (property documents, list of documents, etc.) | Rs. 500 + taxes & any other applicable statutory dues |
| Charges for copy of duplicate NOC | Rs. 100 + taxes & any other applicable statutory dues |
| Repayment mode/ account swap charge | Rs. 500 + taxes & any other applicable statutory dues |
| Rescheduling the loan term | Rs. 500 + taxes & any other applicable statutory dues |
| Instrument (Cheque/ ECS/ Mandate) dishonour charges | Rs. 750 per instance |
| Delay/ default in payment of principal or interest/ outstanding balance | 8% p.a. on overdue amount |
| Non-payment of dues/ charges/ fees payable under the loan/ facility agreement | 8% per annum on overdue amount |
| Penal charge for non-compliance with the sanction terms | Rs. 5.50 per day per Lakh or proportionately from the day of breach |
| Penal charges for delay or non-creation/ perfection of facility or security/guarantee, etc. in favour of the Bank | Rs. 5.50 to Rs. 11 per day per Lakh or proportionately for any delay beyond the stipulated days as per the agreement |
| Loan cancellation charges | 0.10% of the loan amount or Rs. 25,000, whichever is higher. |
| Annual renewal charge on overdraft | 0.25% of the OD limit |
| Non-utilisation charges | 0.4% p.a. on under-utilised limit or proportionately to Rs. 5.50 per day per Lakh or proportionately on unutilised limits |
| Penal charges for overline accounts or where the amount drawn is beyond the maximum overdraft limit | 8% p.a. on overdue amount |
Kotak Mahindra Bank Home Loan Eligibility Criteria
Following are the Kotak Mahindra Bank home loan eligibility criteria for different applicants:
Home loan eligibility criteria for individuals:
- Age: 18 to 60 years for salaried and 18 to 65 years for self-employed
- Minimum gross monthly income: Rs. 20,000 for Indian residents of Delhi, Mumbai, Bangalore, Pune, Hyderabad & Chennai and Rs. 15,000 for residents of other cities
- Minimum qualification: Bachelor’s degree for Private Limited Company/ Partnership Firm employees & no minimum qualification required for other employees
Home loan eligibility criteria for a Partnership Firm/ LLP/ Indian Company
- The firm/ organisation should have a minimum of 3 years of existence.
- The minimum net income for companies/ firms/ LLPs in Delhi, Mumbai, Bangalore, Pune, Hyderabad and Chennai should be Rs. 2,40,000 p.a.
- The minimum net income for companies/ firms/ LLPs in other cities should be Rs. 1,80,000 p.a.
Home loan eligibility criteria for a Hindu Undivided Family
- The applicant/ co-applicant must be the Karta of the HUF
- The HUF should have a minimum of 3 years of existence
- The HUF should provide their income tax returns for a minimum of 3 years
- The minimum net income should be Rs. 2,40,000 p.a. for the HUFs in Delhi, Mumbai, Bangalore, Pune, Hyderabad & Chennai
- The minimum net income should be Rs. 1,80,000 p.a. for the HUFs in other cities
How to Calculate Kotak Housing Finance Home Loan EMI?
You can use our home loan EMI calculator to calculate your Kotak Mahindra Bank home loan EMI. All you need to do is:
- Input basic loan details such as loan amount, tenure, and the Kotak Mahindra Bank home loan interest rate today.
- As you tap on the calculate button, you get an EMI estimate along with an amortisation schedule for your home loan.
Kotak Mahindra Home Loans Documents Required
Following is the list of home loan documents required to apply for the Kotak Mahindra Bank housing loan:
Documents Required for Indian Resident Salaried Individuals, Self-employed Professionals & Self-employed Non-professional/ Company/ HUF/ Partnership Firm/ LLP (Individual or Joint)
- Bank statements: Last 6 months bank statements from domestic (FCNR/NRNR) & salary/active international account. Last 12 months bank statement for SENP
- Age proof: Passport, Driving license, school leaving certificate, birth certificate, voter’s identity card, PAN card (any one)
- Income proof: Last 3 months’ salary slips & Form 16 of the latest 1 assessment year (for salaried), latest 3 years income tax returns (personal & business) along with computation of income & latest 3 years profit & loss accounts & balance sheet with schedules (duly certified by a CA) for others
- Business/ service/ profession proof: Professional experience/ business or partnership existence proof
- Repayment proof: Repayment track record proof (wherever applicable)
- Property proof: All property documents
- Other proof: Degree certificate for self-employed professionals & registration proof with tax authorities as applicable to the type of business for others (except salaried)
Documents Required for Non-Resident Indians (Individual or Joint)
- Bank statements: Last 6 months bank statements from domestic (FCNR/NRNR) & salary/active international account. Last 12 months bank statement for SENP
- Age proof: Passport
- Business/ service/ profession proof: Professional experience/ business or partnership existence proof
- Repayment proof: Repayment track record proof (wherever applicable)
- Property proof: All property documents