You get 2 major options when it comes to applying for the Kotak Mahindra Bank Home loan. Either you can approach the official site or visit the nearest bank branch to meet the purpose. In the case of either of the routes, you must fill out the residential, personal, income & property information. Subsequently for filling out the form, you must submit it to Kotak bank to process your application for a home loan. The lender will approve your loan just after it finds your details genuine during the investigation procedure, which includes a visit to your residential place and office as well. If you are found to be genuine upon the investigation, Kotak Mahindra bank will then visit the selected property that you are looking to purchase. After proper evaluation of your personal info, credit info and property condition, market value estimation by the lender will be done. Once all these processes are complete, the bank will approach you with an offer and agree to fund as high as 90 per cent of the value of the property. So, the remaining 10 per cent must be funded by you through your pocket. Kotak Mahindra bank will even set the Kotak Mahindra bank home interest rate post assessing your credit profile and score by fetching your credit report. If your credit score is over 750, then you hold a higher chance of availing the loan at a lower Kotak Mahindra bank home loan interest rate while if your score is below 750, your Kotak Mahindra bank home loan interest rate may be on the higher end.
How Can You Compute Your Kotak Mahindra Bank Home Loan Eligibility?
You can compute your eligibility for a Kotak Mahindra bank home loan through the assistance of an online home loan eligibility calculator. Note that to set your eligibility for a home loan on the higher limit, your income must be on the higher side and your credit score must be 750 and above.
What Are The Customer Care Details Of Your Kotak Home Loan?
Are you facing any queries or complaints linked to Kotak home loans? To get a solution to your queries or complaints, you can straightaway dial the 24 X 7 customer care number i.e., 1860 266 2666. The complaint can be irregularity in payment of loan EMI, not receiving SMS alerts before & after EMI payment and others. Executives are ready for sorting all your complaints and queries to endow you with a pleasant experience on the home loan.
What Are The Important Benefits And Features Of Opting For A Kotak Home Loan Deal?
Insurance covers at an exciting premium
Swift turnaround time
Simple documentation and loan disbursement process
Attractive interest rates
Kotak Bank Home Loan Frequently Asked Questions (FAQs)
How To Place An Application For A Kotak Bank Home Loan Through The Online Route?
You can place an application for the Kotak Mahindra home loan either on Kotak bank’s site or by directly downloading the official application of the bank. Also, you can place an application for a home loan in a hassle-free manner through online financial marketplaces like Paisabazaar, Wishfin, Bankbazaar, etc. You must begin by filling out the home loan application form with general information.
Which One Is The Best Kotak Home Loan Scheme For You?
One of the best-matched Kotak Mahindra home loans for you is completely dependent on your loan eligibility and your preference and needs. The scheme that matches your needs is the best option for you to choose. Also, you must consider choosing the scheme offering the lowest Kotak home loan interest rate and processing charges. In case, you are offered a lower charge, then your overall loan outgo will be lower, which will allow you to keep your financials stable and prevent you from falling in the debt trap. You must even ensure to use the online home loan EMI calculator before finally signing the loan deal to better understand the loan EMI and tenure that is best matched for you as per your repayment capacity and cash inflows.
Should You Avail A Home Loan From Kotak Mahindra Bank?
Yes, you must consider availing a home loan from Kotak bank owing to its thorough hassle-free process, zero processing charges and enticing doorstep service.
What Are The Distinct Kinds Of Kotak Mahindra Home Loans?
Some of the distinct kinds of Kotak Bank home loans include Kotak Mahindra Pradhan Mantri Awas Yojana, Kotak Digi home loans and others.
What Is The Highest Home Loan Repayment Tenure In Kotak Bank?
The highest home loan repayment tenure is Kotak Bank, which usually goes up to 20 years.
How Long It Takes For You To Get Approval On A Kotak Bank Home Loan?
In case your application for a home loan is complete, you can avail a home loan acceptance from Kotak Bank in a short period within 24 hours. However, note that you may get an application approval only in the case of a pre-approved or instant home loan. In the case of regular home loans, the approval usually may take around 2 weeks.
What’s The Current Processing Charge On Kotak Bank Home Loan?
Kotak bank home loan processing charges of as high as 0.25 per cent on loan proceeds plus taxes are levied along with other statutory dues.
What’s The Minimum Credit Score On A Kotak Bank Home Loan?
The minimum CIBIL score on Kotak bank home loan is 750 and above.
What’s The Minimum Income To Apply For A Kotak Mahindra Home Loan?
The minimum income to apply for the Kotak bank home loan ranges between Rs 15,000 and Rs 20,000 based on your location of employment.
What’s The Minimum Kotak Mahindra Bank Home Loan Amount?
Kotak Mahindra bank can provide you with the home loan amount you need. However, it is completely dependent on your monthly salary that decides how much will be your maximum and minimum home loan proceeds you qualify for. Also, it depends on your credit profile and score.