Loan Details

Bank Name

Kotak Mahindra Bank

Maximum Loan Tenure

Maximum Loan Amount

No cap.

Interest Rate

Salaried individuals: 8.75 % to 9.35 %

Self-employed individuals: 8.80 % to 9.60 %

Type

Floating

Down Payment

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

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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