At Kotak Mahindra bank, you can avail of home loans for the purpose of purchasing residential property - whether you are buying it fresh from the developer or it is a resale purchase. Our Home Loan solutions are designed to suit your needs whether you are:

Features:-

Key Features:

• Wide range of offerings
• Attractive interest rates
• Pre-approved sanctions
• Free personal accident insurance
• Life insurance options on your Home Loans
• No hidden charges

Wide range of Offerings:- Apart from the plain vanilla Home Loan, you can also avail of the exact scheme that suits your needs. You can choose:

• Kotak Flexi Home Loan
• Fixed Deposit Linked Home Loans

Attractive Interest Rates :- They offer very attractive interest rates. And there are no hidden charges to it.

Free Personal Accident Insurance Cover :- upto Rs. 1 crore along with your loan, that ensures that you are covered for any accidental mishaps and your family is well protected.

Pre-Approval facility :- You can get a sanction for your loan amount based on the income, assets and employment information you provide during your consultation with Kotak Mahindra Bank. You may come across a property which you need to close at a short notice. In such a situation, this sanction can help so that you don't miss the opportunity. The sanction is good for 6 months, giving you time to shop for the home of your choice.

Insurance options on your Home Loans :- You can also avail of a reducing insurance cover at an exclusive premium, so that you are rest assured that should any unfortunate mishap occur to you, your family is safeguarded from any repayment burdens over the tenure of the loan.

Eligibility:
Loans can be applied by individuals, either solely or jointly. Owners of the current property, in respect of which the loan is being sought, will have to be co-applicants. However, the co-applicants need not be co-owners. Specific eligibility criteria are as follows:

For salaried individuals:

• Minimum gross annual income should be Rs.1.44 lakh.
• Minimum 21 years of age.
• Maximum 60 years of age or your retirement age, whichever is earlier at the time of loan maturity.

For self-employed professionals:

• Minimum annual income should be Rs.1.44 lakh as per the P&L.
• Minimum gross annual income should be Rs.1.44 lakh.
• Minimum 21 years of age.
• Maximum 65 years of age at the time of loan maturity.
• Firm/company should have been in operation for the last 3 years.
• Firm/company should be making cash profits for the last two years.

For self-employed non-professionals:

• Minimum annual income should be Rs.1.44 lakh as per the P&L.
• Minimum 21 years of age.
• Maximum 65 years of age at the time of loan maturity.
• Firm/company should have been in operation for the last 3 years.
• Firm/company should be making cash profits for the last two years.

Documentation required:

The following documents are required for the purpose of credit appraisal:

• Completed application
• Your income documents and bank statement
• You address and age proofs