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Product Details
Bank Name

Kotak Mahindra Bank

Maximum Loan Tenure

20

Maximum Loan Amount

No cap.

Interest Rate

Salaried individuals: 8.75 % to 9.35 %

Self-employed individuals: 8.80 % to 9.60 %

Type

Floating

Kotak Mahindra Bank Home Loan
Down Payment

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Fees and Charges

Processing fee: 0.25 % to 2.00%. Prepayment/Foreclosure charges: NIL for Term Loans given to Individual Borrowers for non-business end use. Penal Interest (in case of late payment): 2% per month (plus taxes and any other applicable statutory dues) on unpaid EMI amount for delayed period. Late Payment Penalty: 30% (plus taxes and any other applicable statutory dues) of cheque/instrument dishonour charges plus penal interest. Legal charges: At actuals.


Minimum CIBIL Score

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Down Payment and Fees

Kotak Mahindra Bank Home Loan

Special Features
Eligibility Criteria
Special Concession
Home Saver Option
Features, Eligibility and Concession
Pros
Low interest rate when compared to other private banks. Low processing fee when compared to other private banks. No prepayment/foreclsure penalty. Low eligibility threshold. 50% off on processing charges in case of digital loan application.
Cons
Pros & Cons
Application Procedure

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