Kotak Mahindra Home Loan Interest Rate:

Kotak Mahindra home loan rate offered is variable and fixed.

 Kotak Mahindra home loan interest rate is based on base rate system. Kotak Mahindra home loan rate is based on 8.50% base rate.

 Kotak Mahindra home loan interest rate offer reduced interest rates during the intervening period. Kotak Mahindra home loan rate which offers this facility is by opting for adjustable interest rates. 

Kotak Mahindra home loan rate keep changing periodically. One can get updated information on Kotak Mahindra home loan rate from the bank.

Kotak Mahindra home loan interest rate is attractive even for NRIs. Kotak Mahindra home loan interest rate are similar for home loan as well as home improvement loan.

Kotak Mahindra Home Loan Eligibility:

Kotak Mahindra Home Loan Eligibility Criteria For Salaried People:

As per the Kotak Mahindra home loan review the eligibility depends on the person’s repayment capacity. Kotak Mahindra home loan applicant should have salary certificate. As per the Kotak Mahindra home loan eligibility a salaried customer should present his 6 months bank statement.

Kotak Mahindra Home Loan Eligibility Criteria For Self Employed:

Kotak Mahindra home loan review shows the self employed person has to show proof of income. Kotak Mahindra home loan self employed applicant needs to show audited balance sheet and PL account of 3 years.  As per the Kotak Mahindra home loan eligibility an applicant should have 3 years of minimum work experience.

Kotak Mahindra Home Loan Documents:                          

Kotak Mahindra home loan review shows that one has to submit

Identity proof

Address proof

Filled application form

Two photographs

Kotak Mahindra home loan Documents for salaried

Form 16

Bank Statement

Latest Salary slip

Kotak Mahindra home loan Documents for self employed

IT papers

Bank Statement

Proof of Business existence

Profit and Loss Account/ Balance Sheet

Procedure And Options To Apply For The Loan:

The customer needs to submit duly filled form and attach related documents and submit it to the bank authorities for processing. The form is available at the branches or can be downloaded from the official website of the bank.

Maximum And Minimum Tenor Of The Loan:

 As per the Kotak Mahindra home loan review one can get a maximum repayment period of 10 years.

What would be the repayment options/facilities?

The customer can pay back his loan in equated monthly installments.

Pre Closure Process: In case a customer of Kotak Mahindra Bank home loan wishes to close his loan before the agreed period or term is termed as pre closure. In this case the bank charges need to be found from the bank.

Tax Benefits: One can get tax benefits on the principal and the interest paid according to the Income Tax Act 1961 which varies yearly according to the changes made by the Government.