When considering home loans, Kotak Mahindra Bank stands out with competitive interest rates starting at just 8.7% per annum. These rates are available for both salaried and self-employed applicants. You can secure financing for up to 90% of the property’s value, and loan terms extend up to 20 years.

Kotak Mahindra Bank Home Loan Highlights
Interest Rate*	8.70% p.a. onwards
Loan Amount (LTV Ratio)	Up to 90% of property value
Loan Tenure	Up to 25 years
Processing Charges	Up to 1% of the loan amount
Minimum Monthly Income	Rs 20,000 (Delhi, Mumbai, Chennai, Pune, Bangalore) Rs 15,000 (Other cities)

Types of Home Loans

Type of Home Loan	Purpose	LTV Ratio	Tenure	Special Features
Kotak Home Loan	Purchase of a new or resale home, construction of a new house.	Up to 80-90% of property value	Up to 20 years	Attractive interest rates, balance transfer option available.
Kotak Balance Transfer Home Loan	Transfer existing home loan from another bank to Kotak Mahindra.	Up to 80-90% of property value	Remaining tenure of the original loan	Lower interest rates, top-up loan facility available.
Kotak NRI Home Loan	For NRIs looking to purchase a residential property in India.	Up to 80-90% of property value	Up to 20 years	Specialized services for NRIs, flexible documentation, and quick processing.
Kotak Home Loan Plus	Additional loan over existing home loan for personal or business purposes.	Based on eligibility and property value	Based on existing loan tenure	Quick processing, competitive interest rates, multiple usage possibilities (renovation, education, etc.).
Kotak Smart Home Loan	For financing new home purchase with a flexible repayment structure.	Up to 80-90% of property value	Up to 20 years	Smart EMI options to manage cash flows, flexibility in part payments, interest savings.
Kotak Home Improvement Loan	For home renovation, extension, or repairs.	Up to 90% of the improvement cost	Up to 15 years	Simple documentation, fast disbursement, attractive interest rates.
Kotak Step Up Home Loan	For salaried individuals expecting a steady rise in income.	Up to 80-90% of property value	Up to 20 years	Lower EMIs in the initial years with an increase over time, tailored for young professionals.
Kotak Pradhan Mantri Awas Yojana (PMAY)	Subsidized home loan under the government’s affordable housing scheme.	Up to 90% of property value	Up to 20 years	Interest subsidy based on income category, faster processing, tailored for first-time home buyers.
Kotak Home Loan for Women	Special home loan offering for women purchasing a home.	Up to 90% of property value	Up to 20 years	Preferential interest rates for women, easy documentation, and special benefits like lower processing fees.

Table of Contents

Why Choose Kotak Mahindra Bank Home Loan?

Kotak Mahindra Bank Home Loan Features & Benefits

- Get up to 75%-80% of the property’s value as financing.
- Zero processing fee on online applications for a home loan.
- The bank offers doorstep service instead of visiting the bank multiple times.
- Documentation for the loan is kept at a minimum.
- Insurance option to cover your home loan at an affordable premium.
- Competitive interest rates offered on home loans.
- Quick home loan application processing.
- Easy balance transfer facility at low-interest rates.
- Balance Transfer Top-Up also available.

Kotak Mahindra Bank Home Loan Interest Rate

Customer Type ( Floating Category (Repo Rate: 6.50%)	Effective Rate Of Interest
For Salaried	8.70% onwards
For Self-employed	8.75% onwards

Eligibility criteria for Kotak Mahindra Bank Home Loan

Requirements	Salaried	Self-Employed
Residency	Indian/NRI	Indian/NRI
Age	18-60 years	18-65 years
CIBIL Score	Above 750	Above 750
Loan Tenure	Up to 20 years	Up to 20 years
Minimum Net Income	Rs.20,000 per month	Rs.20,000 per month

Kotak Mahindra Processing Fee and Charges

Employment	Amount in Rs.
Salaried	0.5% of loan amount Upfront PF of Rs. 5,000
Self-Employed, HL top-up/Commercial Purchase	1.0% of loan amount Upfront PF of Rs. 5,000

Documents required for Kotak Mahindra Bank Home Loan

Documents	Salaried Individuals	Self-Employed Professionals	SENP/Co./HUF/ Partnership Firm/LLP	NRIs
Bank statement/pass book copy	Yes	Yes	Yes	Yes
Last 6 months bank statements from domestic(*FCNR/NRNR) & salary/active international account	Yes	Yes	Yes	Yes
Passport	✖	✖	✖	✔
Driving License	✔	✔	✔	✖
School Leaving Certificate	✔	✔	✔	✖
Birth Certificate	✔	✔	✔	✖
Voter Identity Card	✔	✔	✔	✖
PAN Card

Salaried Employees

- One passport size photograph

- PAN card copy (all applicants with relationship proof)

- Aadhaar card copy (all applicants with relationship proof)

- Residence proof copy (all applicants with relationship proof)

- Last three months’ salary slips (of all applicants whose income is considered)

- Previous two years’ Form 16 and ITR (of all applicants whose income is considered)

- Last six months’ bank statement in original where salary credited (of all applicants whose income is considered)

- Last six months’ bank statement of any other bank a/c (of all applicants whose income is considered)

- Relationship proof

- Details of the loan availed with a track record (if any existing loans)

- All property documents (chain) with sanction map

Self-Employed Professionals

- Bank statement/passbook for last 12 months (for applicants whose income is being considered for eligibility) of all accounts mentioned in application form mentioning the name of account holders, account number, bank name and branch

- Aadhaar card copy

- Latest three years’ income tax returns, personal and business along with computation of income (two years for Kotak Group customers)

- Latest three years’ profit and loss accounts and balance sheet with schedules duly certified by a chartered accountant (two years for Kotak Group customers)

- Degree certificate

- For partnership firm:
  - - Registered partnership deed
  - - Letter from other partners stating

- For Company:
  - - Memorandum and Articles of association

- For HUF:
  - - IT returns

- At least two references (Credit Manager to decide the parties)

Self-Employed Non-Professionals

- Bank statements for the last 12 months – from the current account and all other bank accounts mentioned in the application form

- Aadhaar card copy

- Latest three years’ income tax returns, personal and business along with computation of income (two years for Kotak Group customers)

- Latest three years’ profit and loss accounts and balance sheet with schedules duly certified by a chartered accountant (two years for Kotak Group customers)

- Registration proof with tax authorities as applicable to the type of business

- For partnership firm:
  - - Registered partnership deed
  - - Letter from other partners stating

- For Company:
  - - Memorandum and articles of association

- For HUF:
  - - IT returns

- Obtain a business profile on the letterhead of the proprietorship/partnership firm/company/HUF/LLP

- At least two references (Credit Manager to decide the parties)

- POA required for companies/HUF/Partnership Firm /LLP

Non-Resident Indians

- Last six months bank statements from domestic (NRE/NRO/FCNR/NRNR) and salary/active international account

- Copy of valid passport

- KYC Documents

- Income proof for fixed salary:
  - - Salary certificate (in English) specifying name, date of joining, designation and salary details OR
  - - Latest three months’ salary slips

- Income proof for variable salary:
  - - Salary certificate (in English) specifying name, date of joining, designation and salary details for last six months OR
  - - Last six months salary slips

- Proof of continuity of employment for the last three years

- Appointment letter/employment contract copy (if the contract is in a language other than English, an English translation of the same attested by the Embassy/employer should be given)

- For merchant navy employees copy of the CDC (Continuous Discharge Certificate) required as an additional document

- If the customer is overseas, a power of attorney must be as per the standard draft duly attested by the Indian consulate at the place of residence of the NRI customer. In case NRI customer is not available in India at the time of application, attested by a public notary in the place of residence of the NRI customer

- If the customer is in India, Power of Attorney is also required

Bank	Up to Rs. 30 Lakh	Above Rs. 30 Lakh to Rs. 75 Lakh	Above Rs. 75 Lakh
SBI Bank	8.5% p.a. onwards	8.5% p.a. onwards	8.5% p.a. onwards
HDFC Bank	8.7% p.a. onwards	8.7% p.a. onwards	8.7% p.a. onwards
LIC Bank	8.50% – 10.35% p.a.	8.50% – 10.55% p.a.	8.50% – 10.75% p.a.
ICICI Bank	8.85% p.a. onwards	8.85% p.a. onwards	8.85% p.a. onwards
Kotak Mahindra Bank	8.70% p.a. onwards	8.70% p.a. onwards	8.70% p.a. onwards
Punjab National Bank	8.40% – 12.10% p.a.	8.40% – 12.10% p.a.	8.40% – 12.10% p.a.
Bank Of Baroda	8.40% – 10.65% p.a.	8.40% – 10.65% p.a.	8.40% – 10.90% p.a.
Bajaj Housing Finance	8.50% p.a. onwards	8.50% p.a. onwards	8.50% p.a. onwards
Axis Bank	8.75%-13.30% p.a.	8.75%-13.30% p.a.	8.75%-9.65% p.a.
Bank of India	8.4% p.a onwards	8.4% p.a onwards	8.4% p.a onwards
TATA Capital	8.75% p.a. onwards	8.75% p.a. onwards	8.75% p.a. onwards

Kotak Mahindra Home Loan