Kotak Home Loan Interest Rates
Amongst the lowest interest rates in the market, Kotak Mahindra Bank home loan interest rates start at 8.20% p.a. With affordable Kotak Mahindra Bank home loan interest rates, you get the option to balance transfer your ongoing home loan to lower your interest liability. Varied schemes for different purposes, low processing charges and flexible repayment options, add to customer convenience.
Kotak Mahindra Bank Home Loan Interest Rate 2025
Owning a home is a step ahead in the journey of your life. The investment being humongous, home loans have come as a respite for most of them who will not be able to fund the investment with their savings.
Since the financial commitment will be a long-term one, it is essential to shop around to avail of the home loan with the lowest interest rate. Even a small percentage of difference in the interest rate will considerably reduce the cost of the loan.
Kotak Mahindra Bank Home Loan Interest Rate 2025 is among the lowest that is available in the market. The interest rate on the Kotak Home Loans is as given below.
| Credit Score | SALARIED | SELF-EMPLOYED |
|---|---|---|
| >800 | 8.20% – 12.00% | 8.20% – 13.30% |
The fixation of rate of interest depends on the cibil score, employment and the down payment provided.
You can also Apply for Kotak Home Loan and check EMI, Interest rate and Eligibility Online to avail offer.
Kotak Mahindra Bank Home Loan Interest Rate with Top Banks
Given below is the comparative home loan interest rates of Top Banks vis-a-vis Kotak Mahindra Bank Home Loan Interest Rate 2025.
| Name of the Bank | Home Loan Interest Rates |
|---|---|
| Kotak Mahindra Bank | 8.20% |
| State Bank of India | 7.50% - 8.45% |
| Central Bank of India | 7.85% to 8.75% |
| Bank of Baroda | 8% - 9.60% |
| Canara Bank | 8.40% to 11.25% |
| Bank of India | 8.40% - 10.85 |
| Union Bank of India | 7.85% - 10.25% |
| ICICI Bank | 8.75% - 10.05% |
With the list, you can observe that the prevailing Kotak Bank home loan interest rate is among the lowest. Simple eligibility norms and documentation will make your home loan journey seamless and hassle-free if availed at Kotak Mahindra Bank.
Factors affecting Kotak Home Loan Interest Rate
If you're planning to apply for a Kotak Mahindra Bank home loan, understanding the factors that influence your interest rate can help you secure the best deal. Here are the 5 major factors that affect Kotak home loan interest rates:
1. Credit Score
Your CIBIL score is a major determinant of your interest rate. A high credit score (750+) increases your chances of securing a lower interest rate, while a lower score may result in higher rates.
2. Loan Amount & Tenure
The interest rate may vary based on the loan amount and tenure. Generally, shorter tenures come with lower interest rates, while higher loan amounts may attract different rate structures.
3. Type of Interest Rate
Kotak offers fixed-rate and floating-rate home loans. Fixed rates remain unchanged during the tenure, while floating rates fluctuate based on market conditions and RBI policies.
4. Applicant’s Profile & Income
Salaried individuals with stable incomes often get lower interest rates than self-employed individuals. Additionally, factors like age, employment history, and existing liabilities impact the rate.
By considering these factors, you can make an informed decision and secure the best Kotak Home Loan interest rate.
5. Loan-to-Value (LTV) Ratio
- The LTV ratio is the percentage of the property’s value that Kotak Bank finances.
- Lower LTV (≤80%) often gets lower interest rates as it reduces the bank’s risk.
- A higher LTV (>80%) may attract higher interest due to increased risk.
Check Best Home Loan Interest Rates starting @7.85% from different banks and NBFCs
Kotak Bank Home Loan Fees and Charges
| Type of Charge | Amount |
|---|---|
| Processing charges | 0.5% of the loan amount plus applicable GST. Rs. 5000/- has to be paid upfront as a log in fee, which is not refundable and will be adjusted with the overall processing fees at the time of disbursement. |
| Copies of documents | Rs. 500/- per request plus applicable GST |
| Swap of repayment mode | Rs. 500/- instance plus applicable GST |
| Part pre-payment charges | No part pre-payment charges for loans availed by individuals. No part payment is allowed till six months from the date of EMI commencement. Post the lock-in period, part pre-payment of a minimum of Rs. 25000/- and a maximum of 25% of the outstanding principal balance once in 6 months in a financial year will be permitted without any charges. For anything over and above 25%, a part pre-payment charge of 3% of the prepaid amount in excess of 25% will be collected. |
| Foreclosure charges | No foreclosure will be allowed within 6 months from the date of EMI commencement No foreclosure charges for loans availed by individual borrowers. For non-individual borrowers, foreclosure charges of 3% of the outstanding liability plus the prepaid amount during the last 12 months will be collected. |
| EMI bounce charges | Rs. 500/- plus applicable GST per instance |
| Late payment penalty | 2% per month of the outstanding EMI amount plus applicable GST |
| Cheque collection charges in case of default | 30% plus applicable taxes of the EMI dishonour charges plus penal charges. For instance, if the EMI amount is Rs. 50000/-, the cheque dishonour charges will be Rs. 500/- and the penal charges will be Rs. 1000/-. So the collection charges will be 30% of Rs. 1500/- i.e., Rs. 450/- |
| Loan cancellation charges | 0.1% of the loan amount with a minimum of Rs. 25000/- plus applicable charges |
Additional Info: Also check How to Apply for Pradhan Mantri Awas Yojana
Kotak Mahindra Home Loan Balance Transfer Interest Rate
If a consumer has availed a home loan at an interest rate higher than the Kotak Mahindra home loan interest rate, he or she has the option of transferring the existing home loan liability to Kotak Mahindra Bank and can also have the advantage of a top-up loan if eligible.
The taking over of the existing liability will be approved only if the eligibility norms specified for the balance transfer are met. The rate of interest stipulated for Kotak Mahindra Home Loan Balance Transfer will be 8.85% p.a. onwards for salaried individuals and 8.90% p.a. onwards for the self-employed, which is lower than the interest charged for the regular home loan.
You can also Check Pan Numbers for Home Loan of All Banks Online
Kotak EMI Calculator
Each and every one of us faces confusion in respect of the monthly EMI and the basis on which it is calculated. EMI calculator is a simple tool that provides an easy solution to this confusion. With the EMI calculator, you can arrive at the EMI for a given loan amount for a chosen tenure in a matter of seconds.
You can Calculate the EMI for Kotak Home Loan using the Kotak EMI Calculator or the Kotak Bank home loan interest rate calculator.
You can access the Kotak EMI Calculator on the website of the bank. Go to the website and select home loans under the loans option. On choosing the EMI calculator on the home loan page, a window with three variants, i.e., loan amount, interest, and period will open.
Enter the desired loan amount, the rate of interest and tenure. The EMI, interest payable, and the total amount payable for the chosen tenure will be displayed. You can try various combinations until you arrive at the EMI that you can manage.
By doing the exercise, you can make an informed decision about the loan amount, and you will also get an idea about the affordable investment you can make on a property. This will help you to choose a property within your budget range.
You can now check 30 Lakh Home Loan EMI Apply Online.
How to apply for Kotak Home Loan?
After finding the Kotak Mahindra home loan interest rate and calculating the affordable EMI, the next step would be applying for the loan. You can apply for Kotak Home Loan both offline as well as online. To apply online, you will have to access the official website of Kotak Mahindra Bank and follow some simple steps.
- Under Explore Products, choose home loan under Loans option.
- A home loan page will open. Click on the ‘Apply Now Button
- A page with options ‘Existing Customer’ and ‘New Customer’ will open.
- Existing customers should log in with a CRN number and mobile number.
- Customers who do not have an existing relationship with the bank should click on the ‘New Customer’ option.
- A home loan application will be displayed.
- Provide the details of applicant type, income type, residential status, gender, first name, last name, email id, mobile number and additional mobile number.
- Agree to the terms and conditions and authorise the representative of the bank to contact you regarding the home loan and then click on the continue button.
You will be led through the home loan application process by the representative of the bank, who will contact you subsequently.
You can also contact the nearest Kotak Mahindra Bank branch and apply for the loan by submitting the relevant home loan application form along with the required documents.
Additional Info: Also check Home Loan Customer Care Number
FAQs
The home loan quantum depends on the market value of the property and your repayment capacity. Ideally, you will be eligible for a maximum of 75% to 80% of the property value.
As of March 2025, Kotak Mahindra Bank's home loan interest rates start from 8.65% p.a. Rates vary based on loan amount, tenure, and credit profile. Check the official website for the latest updates.
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