Kotak Mahindra Bank Home Loan

Covering a long journey of grand milestones, Kotak Mahindra Bank has evolved from a capital finance company established in 1985 to one of the country's most trusted digital banking ecosystems. With attractive Kotak Mahindra Bank home loan interest rates starting at 8.75%, they are among the most affordable online home loan providers in India.  

The Kotak home loan amounts range from Rs. 10 lakhs to Rs. 10 crores and are available for a tenure extending up to 20 years. Kotak customers can avail of home loans of up to 90% of property value by paying a processing fee of 0.50% of the loan amount for salaried applicants. The bank offers a discount of 50% on processing fees for customers applying for a home loan online. Further, women borrowers can avail Kotak housing loans at concession rates, and these loans are also available under PMAY or Pradhan Mantri Awas Yojana.

Kotak Mahindra Home Loan EMI Calculator

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Kotak Mahindra Bank Home Loan Key Highlights

Get the lowest interest rates with Kotak Mahindra Bank

Loan Amount Up to 90% of the cost of property
Rate of Interest Starts at 8.70% per annum
RPLR 17.25%
Processing Fee

0.5% - 1.0%

Maximum Tenure for Repayment 30 Years
Penal Rate of Interest
Rate Packages
Charges for Prepayment/Foreclosure

Kotak Mahindra Home Loan Interest Rates in 2024

Kotak Mahindra Bank home loan interest rate is available to its customers at an attractive rate that starts at 8.70% p.a. The bank has revised its home loan interest rate to up to 9.60% in 2024, applicable for new home loans, while the interest rate for balance transfer is up to 8.80% p.a. The affordable lending rate of Kotak home loans allows easy repayment for customers. The table below enlists the various home loan slabs by Kotak Mahindra Bank and their respective rates of interest:

Loan Slab Interest Rate for Home Loan
Kotak Housing Loan (For salaried) 8.75% p.a. to 9.35% p.a.  
Kotak Housing Loan (For self-employed) 8.80% p.a. to 9.60% p.a. 
Kotak Home Loan Balance Transfer (For salaried) 8.75% p.a. onwards  
Kotak Home Loan Balance Transfer (For self-employed) 8.80% p.a. onwards 

Interest rates were last updated on 6th May 2024

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Kotak Mahindra Bank Home Loan Eligibility Criteria

Customers of Kotak Mahindra Bank need to fulfill the criteria of Kotak home loan eligibility to avail of loans. The availability of home loans to customers is determined by their ability to repay. The table below lists the eligibility criteria for Kotak Home loans that need to be met to qualify for receiving the loan amount from the bank:

Eligibility Parameters For Salaried Individuals For Self-Employed Individuals
Age Range (in years) 18-60 18-65
Nationality Indian/NRI Indian/NRI
Minimum Income Earned Minimum Rs. 20,000 per month (Mumbai, Chennai, Delhi, Pune, Bangalore) Minimum Rs. 15, 000 per month (for other cities) Rs. 20,000 per month

Kotak Mahindra Home Loan Processing Fee and Charges

Kotak Mahindra Bank charges a certain amount of processing fee to its customers to cover the cost involved in dispensing home loan applications. The below table shows the Kotak home loan processing fees applied as part of the home loan approval process:

Processing Fee

Up to 1% of the loan amount plus statutory dues

Commitment Fee

2% of the loan amount

Charges for copies of documents

Rs.500 per instance

Charges of Check Dishonour

Rs. 750 (including GST and other applicable charges)

Documentation Charges

Up to Rs.10,000

Account Swap Charges

Rs.500 per instance

Charges for duplicate NOC (No Dues Certificate)

Rs.500 per instance

Charges for Copy of CIBIL Report (if applicable)

Rs. 50 per instance

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Kotak Mahindra Home Loan Schemes and Top Plans

Customers of Kotak Mahindra looking for home loans can select from a range of options the bank presents. Below is a list of the top 6 home loan plans available for Kotak Mahindra customers:

1. Kotak Housing Loan

  • The Kotak Mahindra housing loans are available for its customers to purchase new home properties 
  • The bank also offers housing loans to applicants for renovating an existing house property
  • The tenure of the Kotak housing loans is up to 20 years

2. Kotak Home Improvement Loan

  • Kotak Home Improvement Loans are available for renovation or upgrading of the current residence or house properties of customers
  • The LTV Ratio offered under the home improvement loan is up to 90%
  • The tenure of Kotak Home Improvement Loans is up to 15 years

3. Kotak NRI Home Loan

  • The NRI home loan offered by Kotak Mahindra serves the purpose of purchasing or constructing new home properties 
  • The NRI home loans can also be used to upgrade or renovate the existing homes of customers in India
  • The amount offered under this loan is up to 80% of the home upgrade cost
  • The tenure of the NRI home loan is up to 15 years

4. Kotak NRI Home Improvement Loan

  • The Kotak NRI Home Improvement Loan is available for NRI applicants to upgrade/ renovate their already-built homes in the country
  • The amount offered under this loan is up to 80% of the home improvement cost 
  • The tenure of the loan is up to 10 years

5. Kotak Home Loan Balance Transfer

  • The Kotak Home Loan Balance Transfer is a loan offered to existing home loan customers of other banks and HFCs 
  • This loan facility can be availed by interested customers of other banks who want to transfer their existing home loans to Kotak Mahindra Bank to avail lower interest rate

6. Kotak Home Loan for Women

  • Kotak Mahindra Bank provides home loans to women at affordable interest rates
  • The Kotak home loans for women are also available to single women as well as widows
  • Women can avail Kotak home loan facility at a concessional stamp duty rate of 1-2% 
  • The LTV ratio of Kotak Home Loan for women is up to 85% of the property cost

Note: All of the above home loan plans are made available to applicants solely at the discretion of Kotak Mahindra bank, taking into consideration the earning and repayment capacity of the applicant.

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How to Apply for Kotak Mahindra Bank Home Loan?

The customers of Kotak Mahindra Bank can avail of a home loan in a simple and hassle-free manner. Below is the step-by-step process to apply for a Kotak home loan:

  • Proceed to the APPLY NOW section on the website - BASIC Home Loan
  • Fill in the form by entering your Name, Contact details and submit the form
  • The team from BASIC Home Loan will reach out to you to initiate a hassle free Home Loan application process

Find Kotak Mahindra Home Loan Offices Near You

If you are planning to visit one of the offices of Kotak Mahindra Home Loan near you to get home loan details and to apply for the same, you can simply fill in the Free Consultation form, and the team of BASIC Home Loan will reach out to you for needful assistance in the process.


Interest rates and fees on home loans vary based on eligibility and lender criteria. All applicable fees and charges are subject to relevant taxes and can change at the lender’s discretion. For the most current information on home loan interest rates, processing fees, other applicable charges, and updates on eligibility criteria and loan offers, please visit the official website of the bank.


A Kotak Mahindra home loan can be applied for via both online and offline processes.

The maximum home loan a customer can apply for depends on their credit profile. Overall, home loan amount of up to 90% of the cost of property is offered by the Kotak Mahindra Bank to its customers.

A Kotak Mahindra home loan can be used to purchase a new house/property or to renovate an existing house/property. NRIs can use it to buy or upgrade a property in India.

In the case of individual borrowers, the spouse, parents, and children (above 18 years) can be the co-applicants. If you have a co-owner in your property, that person must be a co-applicant for the loan.

The interest rate in Kotak Mahindra home loan starts at 8.85% and goes up to 9.60%.

Once the loan is verified and approved, it takes 2-3 days to disburse a Kotak home loan.

A good CIBIL score for availing a home loan ranges between 650 and 749. However, 650 is the minimum CIBIL required for a home loan, whereas 750 is a good CIBIL score.

The eligibility and profile are some factors that determine if the borrower can extend the tenure of the Kotak Mahindra home loan. If the borrower's credit profile passes the eligibility score, they can apply for the same with the bank.

Here are the prepayment rules to be followed:

  • The applicant must pay the charges of part prepayment 
  • They have to pay 2 EMIs together in a single-pay
  • The paid amount should be equal to or more than the EMIs of 2 months

You can use the Kotak Mahindra Home Loan Eligibility Calculator to check your eligibility for a home loan. The eligibility criteria depend on varied factors such as the applicant's monthly income, age, credit score, and current loan obligations (if any), among others.