Home
Home      »    Kotak Mahindra Bank Housing Loans

Property

Kotak Mahindra Bank Housing Loans

 

Kotak Mahindra Bank provides housing loans at attractive interest rates. They provide highly customized facilities to home loan borrowers making the process completely hassle free. The bank provides home loans for purchasing/constructing a home, for buying a plot for the purpose of your home building, and for repair or extension of your home. You can also transfer your existing housing loan to Kotak Mahindra Bank from other banks .

.

 

Why Kotak Mahindra Bank Housing Loans?

 

  • Attractive interest rates and high eligibility for businessmen.

  • Highly customized service right from the beginning of the loan process. Dedicated manager and door step service.

  • Repayment period of upto 10 years.

  • Interest charged on daily reducing balance.

  • Loan amount upto 85% cost of the property.

  • Option to choose between floating rate of interest and fixed rate of interest.

  • Hassle free documentation.

  • Insurance option to cover your housing loan at an attractive premium.

 

 

Interest Rates

Kotak Mahindra Bank offers flexible and affordable housing loans at very attractive rates. The rate of interest vary as per the loan amount and repayment tenure. Currently, as on 1st July 2011, the base rate of the bank is at 9.25%. The bank also charges upto 1.25% interest as loan processing charge.

 

 

Eligibility and Documents

 

The borrower should be between 21 years and 65 years of age (retirement age in case of salaried person) to apply for a Kotak Mahindra Bank housing loan. The eligibility and the amount of loan sanctioned depends on your steady source of income and repayment capacity. For the self employed, an audited balance sheet and the profit and loss account of the last three years would be required.

 

 

Documentation

 

 

 

Salaried

Self Employed

Proof of identity

Voter's ID card or driving license or PAN card or photo credit card or employees ID card or defense or police or government department ID card.

Voter's ID card or driving license or PAN card or photo credit card

Proof of income

Latest salary slip showing all deductions or Form 16 along with recent salary certificate

IT returns for the last 3 years and computation of income for the last 3 years certified by a CA

Proof of residence

Bank account statement or latest electricity bill or latest mobile or telephone bill or latest credit card statement or latest LIC policy or insurance premium receipt or employers letter certifying the current mailing address or latest NSC or other similar instruments indicating the address or existing house lease agreement

Bank account statement or latest electricity bill or latest mobile or telephone bill or latest credit card statement or latest LIC policy or insurance premium receipt or latest NSC or other similar instruments indicating the address

Bank statement

Last 6 months

Last 6 months

 

 

 

Kotak Mahindra Bank Housing Loan Calculator