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KOTAK MAHINDRA BANK HOME LOAN SERVICE


Pineapple Kotak Mahindra Bank offers multiple home loans at attractive interest rates and zero processing fee for online applicants. There are home loans for residents and NRIs, as well as home improvement loans. The interest rates range from 8.20% p.a. to 9.25% p.a. The processing fee is a maximum of 2% of the principal amount + GST. The PMAY interest subsidy is available to borrowers of EWS, LIG, and MIG classes. The loans can be repaid in up to 20 years. Available for applicants aged between 18 and 65 years Zero processing fee for online application Rs.5,000 flat processing fee for women applicants. Zero charges on prepayment foreclosure.


Kotak Mahindra Bank Loan Details


Category by beneficiaries Maximum Household Income Interest Subsidy Maximum Subsidy Amount Maximum eligible loan amount for subsidy Eligible carpet area
EWS Economically Weaker Section EWS Up to Rs.6 lakh 6.5% Rs.2.67 lakh Rs.6 lakh No restriction For home extension/repair - 30 sqm
LIG Low Income Group LIG Above Rs.3 lakh and up to Rs.6 lakh 6.5% Rs.2.67 lakh Rs.6 lakh No restriction For home extension/repair - 60 sqm
Middle Income Group MIG –I More than Rs.6 lakh and up to Rs.12 lakh 4% Rs.2.35 lakh Rs.9 lakh 160 sqm
Middle Income Groups MIG- II More than Rs.12 lakh and up to Rs.18 lakh 3% Rs.2.30 lakh Rs.12 lakh 200 sqm

Kotak Mahindra Bank Eligibility Criteria


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
Minimum Loan Amount Check with Bank Check with Bank
Maximum Loan Amount Check with Bank Check with Bank
+91 8877641879
+91 8877641879
info@homelone.in