Question 1

✅ How can I calculate my Kotak Mahindra Bank Home Loan EMI?

Accepted Answer

You can use MyMoneyMantra's EMI Calculator or Kotak Mahindra Bank's Home Loan EMI Calculator to calculate EMI for the proposed loan. These tools are free of cost. All you need to do is enter the loan amount, repayment tenure, and interest rate applicable on the loan to get the desired result.

Question 2

✅ What is the maximum Loan-to-Value I can get from Kotak Mahindra Bank for a Home Loan?

Accepted Answer

You can get a maximum of 90% of the property's value in case you opt for a Home Loan Balance Transfer. If you are applying for it afresh, you will get a maximum of 80% for up to 75 Lakhs and 70% for more than  75 Lakhs.

Question 3

✅ What are the factors that determine my eligibility for Kotak Mahindra Home Loan?

Accepted Answer

The income, work experience, educational qualification, age, future expenses, and savings are some of the most important factors that determine your eligibility for the Kotak Mahindra Bank Home Loan.

Question 4

✅ Does the bank provide concession on processing fee for women Home Loan applicants?

Accepted Answer

Yes, the processing fee for the women Home Loan applicants if flat Rs 5,000 whereas other applicants have to pay a maximum processing fee of up to Rs 10,000.

Question 5

✅ When will my loan get disbursed?

Accepted Answer

Once the bank has done all verifications, legal and technical appraisals, and created the relevant documents for the loan, you will be able to get the loan disbursed.

Question 6

✅ Can I have a co-applicant for the Kotak Mahindra Bank Home Loan?

Accepted Answer

It is usually advised that you apply for a Home Loan along with a co-applicant to increase your loan eligibility. This can either be your spouse, your parents, or even your adult children. If you have a co-owner of the property, make sure that they are a co-applicant for the loan as well. But a co-applicant need not necessarily be a co-owner.

Question 7

✅ Can I get the loan disbursed in instalments?

Accepted Answer

In case you are constructing the property, the loan will be disbursed at regular intervals as assessed by Kotak Mahindra Bank.

Question 8

✅ Should I avail insurance for my home?

Accepted Answer

It is best that you get your home insured to be able to cope against any property damage, either human-made or natural. Along with Kotak Mahindra Bank Home Loan, you can also avail a home insurance to cover any liability.

Question 9

✅ What is the security for the loan?

Accepted Answer

In most cases, the property in the question itself will be the security for the Home Loan.

Question 10

✅ Will the sale agreement need to be registered?

Accepted Answer

It is important that any and every document related to your property is registered, along with the sale agreement between you and the seller.

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