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Kotak Mahindra Bank Home Loan Interest Rates

Kotak Mahindra Bank is a preferred banking partner to millions of Indians looking for convenient and customer-friendly banking solutions. Their home loans designed to give the maximum benefits to its customers in way of higher loan amounts and low interest rates.

Interest Rates on Kotak Mahindra Bank Home Loans

Loan SchemeLoan AmountInterest rate
Salaried Individual/

Self - employed Professional

Self - employed -

Non - professional

Home LoanUp to Rs.30 lakhs8.95%9.10%
 Rs.30 lakh - Rs.75 lakhs9.10%9.25%
 Rs.75 lakhs & above9.15%9.30%
Top-up Loan-9.30%9.30%
Top-up OD -9.50%9.50%

Kotak Mahindra Bank wants its customers to have an enjoyable home loan process. It gives various benefits and offers to its home loan borrowers to make them feel comfortable throughout the entire the loan process.

Ease of application : The bank allows its customers to apply through a simple online process with minimal documentation, reducing the overall time taken for loan processing. Customers can also apply through the 1000s of branches spread across the country.

Zero Processing Fees : The bank does not charge any processing charges for online home loan applications.

Doorstep assistance : Doorstep service to assist you with the loan application and document collection to prevent the hassle of running around in the branches

Home Loan Insurance : The bank offers attractive insurance plans to protect your home & home loan.

Quantum of loan amount : The bank offers loans of up to 80% of the property cost.

Eligibility : Kotak Mahindra Bank offers home loans to a wide base of customers.

Eligibility criteria for individuals:

  • Age: Salaried individuals should be between 18 - 60 years old
  • Self-employed individuals should be between 18 - 65 years old

  • Gross Monthly Income
  • Delhi, Mumbai, Bengaluru, Pune & Chennai – Minimum of Rs.20000/- per month

    Other cities – Minimum of Rs.15000/- per month

  • Minimum qualification
  • Graduate if employed with private limited company or partnership firm

    No such limitations if employed with public limited company, MNC or Government or Public Sector company

Eligibility criteria for Partnership firm/LLP/Indian Company

  • Should be in existence for at least 3 years
  • Gross Income
  • Delhi, Mumbai, Bengaluru, Pune & Chennai – Minimum net income should be Rs.2,40,000/- per annum

    Other cities – Minimum of Rs.1,80,000/- per annum

Eligibility criteria for Hindu Undivided Family (HUF)

  • The Karta of the HUF must be the primary applicant/co-applicant
  • Should have been in existence for at least 3 years
  • IT Returns of the HUF of 3 years is mandated
  • Net Income
  • Delhi, Mumbai, Bengaluru, Pune & Chennai – Minimum net income should be Rs.2,40,000/- per annum

    Other cities – Minimum of Rs.1,80,000/- per annum

Factors affecting your home loan eligibility and interest rate with Kotak Mahindra Bank

Kotak Mahindra Bank determines the loan amount and the interest rate based on your repayment capacity. It takes the following factors into consideration while processing your home loan application

  • Annual/monthly income
  • Type of employment
  • Existing relationship with the bank
  • Your general financial standing with regards to your savings, credit card payments and other existing liabilities
  • Your credit history
  • Your educational qualifications
  • Your age and the number of dependents

Processing fees & other charges

Upto 1.25% of the loan amount for branch processing

Loan Processing ChargesNIL for online application.
Documentation Charges0.5% of the loan amount
Stamping ChargesAs per the respective State's Stamp Act
Commitment Charges2% on loan sanctioned less amount disbursed
Overdue Interest2% of the overdue amount, compounded monthly
Collection Charges30% of penal and cheque bouncing charges
Dishonour Charges Per InstanceRs. 750.00
Swap Charges( Replacement of PDCs)Upto Rs. 500 per swap per Instance
Prepayment charges - Part/Full closureNIL for pure Individual floating rate home loans

Kotak Mahindra Bank Home Loan EMI Calculator

It is always wise to understand the repayment terms before getting into a loan. Knowing your monthly EMI helps you to plan your financial load accordingly. The bank website equips you with the EMI calculator that gives you the EMI for the loan amount and the corresponding interest rate and the tenure that you enter.


Kotak Mahindra Bank processes your home loans with minimal documentation. The basic documents required are:

  • Identity and signature proof
  • Age and address proof
  • Educational qualification proof
  • Income and banking proof
  • Relationship proof for joint application

FAQs : Kotak Mahindra Bank Home Loan Interest Rate

1. What is the maximum amount I can borrow for a home loan with Kotak Mahindra Bank?

You can borrow up to 80% of the cost of the property for loans up to Rs.75lakh. For loans above Rs.75 lakh, you can avail up to 75% of the property cost. For balance transfer loans, Kotak Mahindra Bank offers up to 90% loan amount.

2. What are the repayment tenures available for home loans?

Kotak Mahindra Bank offers a repayment tenure of up to 20 years, depending on your profile. For loan take overs, the outstanding tenure will be considered.

3. What are the processing fees for home loan?

The bank does not charge any processing fee for online applications. For branch banking applications, a nominal charge of up to 1.25% of the loan amount is charged as the processing fee.

4. What are the charges for pre-closure of loan?

Kotak Mahindra Bank allows borrowers to repay the loan in part or in full. There are no pre-payment charges for individual floating rate loans. However, there could be pre-payment charges for other home loan products. One should check with the bank for the schedule of charges.

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