Kotak Mahindra Bank Home Loan EMI Calculator

When you look for a lender to get a home loan, consider the trusted Kotak Mahindra Bank. The bank offers easy home loans to eligible borrowers starting at an interest rate of 8.70% per annum for up to a tenure of 30 years. Borrowers can easily calculate the Equated Monthly Installments or EMI for a home loan using the Kotak Mahindra EMI calculator. This EMI calculator helps them get an estimate of their monthly financial commitments for a home loan with precision and accuracy. Using the online Kotak Mahindra Bank Home Loan EMI Calculator is quite simple, and one just needs to input some loan-related details. Join us in this post to learn how to use the Kotak Mahindra housing loan calculator, factors that might affect your home loan EMI, the benefits of using this online tool, and much more. 

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1 Lac10 cr

Break up of Total Payment

Your monthly EMI is

Total Amount Payable

  • Principal Amount

  • Total Interest

How to Calculate Kotak Mahindra Bank Home Loan EMI?

The Kotak Mahindra home loan EMI calculator is an easy-to-use tool that will help you make informed decisions every month with your home loan. You may choose to calculate home loan EMI manually using a simple formula. However, the same can be done error-free with this online calculator by putting in some general details of your loan, like the loan amount, interest rate, and tenure.

Kotak Mahindra bank Home Loan EMI Calculator Formula

Several things available online have made our lives simpler and one of those things is the Kotak Mahindra home loan calculator online. This online tool helps get an idea of monthly expenses on a home loan EMI. Continue reading to check the Kotak Mahindra home loan calculation formula for an easy estimate of your monthly EMI on a home loan from the bank:

EMI = [P x R x (1+R)^N] / [(1+R)^N-1] 

In the above formula:

P stands for the Principal Amount
R stands for the Rate of Interest
N stands for the Number of Monthly Repayment Instalments 

Factors affecting Kotak Mahindra Bank Home Loan EMI

There are a couple of factors that tend to affect a Kotak Mahindra home loan EMI. It is not possible to acquaint you with all, so we will enlighten you with the three main Kotak Mahindra Bank home loan criteria that can influence your monthly installments, and they are:

Tenure: One of the main factors that decide your monthly home loan EMI is the loan repayment tenure. Borrowers generally have to pay more as the monthly EMI for a shorter tenure and less for a longer tenure. 

Interest Rate: Another prime factor that directly impacts a home loan's EMI is its interest rate. As a matter of rule, remember that the higher the interest rate on a home loan, the higher the EMI for it would be. 

Principal Amount: The third main home loan criterion that determines the monthly EMI you will pay for a Kotak Mahindra home loan is the loan amount or the principal amount. The rule here is that the higher the loan amount, the higher would be the EMI installment for it.

Benefits of Using Kotak Mahindra Bank Home Loan Calculator

In the digital era, why waste time on manual calculations? Why not try the facility of online Kotak Mahindra Home Loan Calculator and make things quicker and simpler? Read on to get acquainted with the top 3 benefits of Kotak Mahindra home loan EMI calculator:

Quick Results: The ultimate benefit of using an online home loan EMI calculator is that it gives quick results, saving you time and stress. You can check out the online EMI calculator available at the official website of the BASIC Home Loan: EMI

Precise and Accurate: Apart from saving you time in manual calculations, the Kotak Mahindra home loan EMI calculator saves you from errors while calculating the monthly EMI. In short, people use it for its accuracy and preciseness. 

Variation Analysis: Thirdly, you get the chance to analyze the EMI for different figures, such as different variations in the home loan amount, tenure, and interest rate, to make an informed decision when applying for a home loan. All this is possible with the help of Kotak Mahindra home loan online EMI calculator.

Kotak Mahindra Bank Home Loan Interest Calculator Formula

The Kotak Mahindra Bank home loan interest rate calculator is a quick tool available online to help borrowers calculate the interest on a home loan amount within a fraction of a second without any error. Have a look at the formula for calculating the Kotak home loan:

Total Interest = (P X R X T) / 100

In the above formula:

P stands for Principal Amount
R stands for the Rate of Interest 
T stands for the Time or Tenure in terms of monthly installments

Kotak Mahindra Bank Home Loan Eligibility Criteria

How will you know whether or not you are eligible for a Kotak Mahindra home loan? The easiest way to check this out is through the online Kotak Mahindra Home Loan Eligibility Calculator. Through this online home loan eligibility criteria calculator, you can instantly check your eligibility for a home loan by entering specific data inputs such as the loan amount,  income per month, age, work experience, CIBIL score, existing loan obligations, and the years left for the applicant's retirement.

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Comparison of Kotak Mahindra Bank Home Loan EMI with Other Popular Banks

Curious to know the approximate EMI you will need to pay if you choose some other competitor bank for a home loan? Then, watch out for the table given below that shows a comparison between the Kotak Mahindra Home Loan EMI with 5 prominent banks and NBFCs for a 10-year tenure:

Bank Name Rate of Interest Rs. 10 lakhs Rs. 20 lakhs Rs. 30 lakhs Rs. 40 lakhs Rs. 50 lakhs
Kotak Mahindra Bank 8.70% p.a. onwards Rs. 12,506 Rs. 25,7012 Rs. 37,517 Rs. 50,023 Rs. 62,529
HDFC Bank 8.50% p.a. onwards Rs. 12,399 Rs. 24,797 Rs. 37,196 Rs. 49,594 Rs. 61,993
Aditya Birla Housing Finance 8.85% p.a. onwards Rs. 12,587 Rs. 25,173 Rs. 37,760 Rs. 50,346 Rs. 62,933
Cholamandalam Home Loan 9.00% p.a. onwards Rs. 12,668 Rs. 25,335 Rs. 38,003 Rs. 50,670 Rs. 63,338
YES Bank 9.40% p.a. onwards Rs. 12,885 Rs. 25,770 Rs. 38,655 Rs. 51,540 Rs. 64,425
Piramal Housing Finance 11.00% p.a. onwards Rs. 13,775 Rs. 27,550 Rs. 41,325 Rs. 55,100 Rs. 68,875
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Kotak Mahindra Bank Home Loan Amortization Schedule

Stay updated and confident about your home loan payment break up with the Kotak Mahindra Home Loan Amortization Schedule. Quite similar to the EMI calculator, this schedule acquaints you with the different factors for which you will pay the monthly payment for a home loan. It will give you a clear idea of your monthly expenses on a home loan, interest, and principal amount. 

Steps to Calculate Kotak Mahindra Bank Amortized Interest

Step 1: Divide your Kotak Mahindra home loan interest rate by the total number of EMIs you will make in a year. For instance, if 8.70% p.a. and you make monthly payments, then you would divide 8.70% by 12 = 0.00725
Step 2: Multiply the number you got in Step 1 with your outstanding loan, and you will get the monthly interest payable. For instance, if your loan balance is Rs. 3,500,000, your first month's interest would be 3,500,000 x 0.00725 = Rs. 25,375
Step 3: Deduct the monthly interest calculated in Step 2 from your fixed EMI to know the principal payable in the 1st month. For instance, if your fixed monthly EMI is Rs. 30,818, you will pay Rs. 30,818 - Rs. 25,375 = Rs. 5,443 as the principal amount, and this amount will be deducted from your outstanding loan to calculate the outstanding for the subsequent month
Step 4: Continue repeating these steps to calculate the interest, principal, and outstanding loan balance for each month

The table displayed below will give you an idea of Kotak Mahindra Bank Home Loan Amortization Schedule 2024:
Year/Month Principal Amount Interest Loan EMI
2024 Rs. 67,984.46 Rs. 301831.54 Rs. 3,500,000 Rs. 369,816
1st Month Rs. 5,443.00 Rs. 25375.00 Rs. 3,500,000 Rs. 30,818
2nd Month Rs. 5,482.46 Rs. 25335.54 Rs. 3,494,557.00 Rs. 30,818
3rd Month Rs. 5,522.21 Rs. 25295.79 Rs. 3,489,074.54 Rs. 30,818
4th Month Rs. 5,562.25 Rs. 25255.75 Rs. 3,483,552.33 Rs. 30,818
5th Month Rs. 5,602.57 Rs. 25215.43 Rs. 3,477,990.08 Rs. 30,818
6th Month Rs. 5,643.19 Rs. 25174.81 Rs. 3,472,387.51 Rs. 30,818
7th Month Rs. 5,684.10 Rs. 25133.90 Rs. 3,466,744.32 Rs. 30,818
8th Month Rs. 5,725.31 Rs. 25092.69 Rs. 3,461,060.22 Rs. 30,818
9th Month Rs. 5,766.82 Rs. 25051.18 Rs. 3,455,334.90 Rs. 30,818
10th Month Rs. 5,808.63 Rs. 25009.37 Rs. 3,449,568.08 Rs. 30,818
11th Month Rs. 5,850.74 Rs. 24967.26 Rs. 3,443,759.45 Rs. 30,818
12th Month Rs. 5,893.16 Rs. 24924.84 Rs. 3,437,908.71 Rs. 30,818
Disclaimer: The above data provided you with an estimated monthly EMI for a loan amount of Rs. 3,500,000 availed at an interest rate of 8.70% p.a., for a loan tenure of 20 years. Please note that the EMI for a home loan is subject to change based on the loan tenure, rate of interest, and other similar factors.


Yes, you can use the EMI calculator for different types of home loans as well as for car loans, education loans, and personal loans. 

Yes, a borrower can foreclose the home loan availed from Kotak Mahindra Bank. However, for this, the bank may charge a foreclosure or prepayment penalty, for which we recommend you check the bank’s official website. 

Kotak Mahindra Bank offers additional loans on top of the home loan amount to its existing customers in the form of Top-Up Home Loans or Loan Against Property. 

You can easily pay your Kotak Mahindra Bank home loan EMI online through Net banking, NEFT, RTGS, and Auto-Debit Service. 

The minimum interest rate value on Kotak Mahindra Bank EMI calculator is 8.70% per annum. 

Some of the key details required for using Kotak Mahindra Bank EMI calculator to get the EMI amount for a loan are the principal amount, loan tenure, and the interest rate. 

The minimum down payment for a home loan from Kotak Mahindra Bank may depend on the type of property and the eligibility criteria of the borrower. Generally, the bank asks for a minimum down payment of 10%.