Both Kotak Mahindra Bank and HDFC Bank are equally good options for home loans in India. To decide between the two, you have to compare your eligibility and interest rates offered by both lenders. 

Comparison of the Features of Home Loans from Kotak and HDFC Bank

Features

Kotak Mahindra Bank

HDFC Bank

Interest rates

Starts from 6.65% p.a.

Starts from 6.75% p.a.

Online loan application

Yes. Doorstep services are available in certain cities.

Yes. End-to-end digital processing of your home loan from start to finish.

Eligibility Criteria

  • Salaried – 18 to 60 years
  • Self-employed – 18 to 65 years
  • Minimum income – Rs. 20,000 per month (in metros); in other cities – Rs. 15,000 per month
  • Age – 21 to 65 years
  • Salaried and self-employed
  • Indian resident 

Maximum Tenure

20 years

30 years

Processing Fees

  • 0.5% of the loan amount for salaried
  • 1% of the loan amount for self-employed

*Zero processing fees for online applications

0.50% of the loan amount, subject to a maximum of Rs. 3000

Maximum Loan Amount

  • Rs. 20 to Rs. 75 lakhs – 80% of the property cost
  • Above Rs. 75 lakhs – 75% of the property cost
  • Up to Rs. 30 lakhs – 90% of the property cost
  • Rs. 30 lakhs to Rs. 75 lakhs – 80% of the property cost
  • Above Rs. 75 lakhs – 75% of the property cost

Prepayment 

Yes, as per applicable charges

Yes, as per applicable charges

Home Loan Balance Transfer

Yes

Yes

PMAY Benefits

Yes

Yes

 

Final Thoughts

Use a home loan eligibility calculator and a home loan EMI calculator to compare your EMIs and eligibility at HDFC Bank and Kotak Mahindra Bank. You can choose the lender who offers the best home loan deal for your specific requirements based on the results.