With Kotak Mahindra bank loan against property, you can look after your financial requirements seamlessly. Whether you have a personal event such as medical expenses or a wedding or you need funds to back your business goals, Kotak Mahindra mortgage loan is a loan in which you can easily pledge your commercial, industrial or residential property as collateral and general funds to make things smooth. The loan amount offered ranges between Rs 10 lacs and Rs 5 crore at convincing interest rates. The bank makes you have an easy time repaying the loan with the tenure of up to 15 years.
|
Loan Amount |
From Rs 10 lacs to Rs 5 crore |
|
Interest Charges |
Starts from 9.50% |
|
Processing Fees |
Up to 1% + GST |
|
Tenure |
Up to 15 years |
|
Prepayment |
NIL |
Here are the best features of Kotak Mahindra loan against property:
Kotak Mahindra loan against property can be enjoyed to meet your financial needs to back personal or business goals. The purposes include medical emergencies, wedding expenses, expansion of business and more. To avail the funds, you need to pledge your industrial, commercial or residential property as collateral to the bank.
The Kotak Mahindra mortgage loan amount ranges from Rs 10 lacs to Rs 5 crore. The amount is also subject to the property type, repayment track and many other factors.
The Kotak Mahindra mortgage loan interest rates start from 9.50% per annum.
The bank offers mortgage loan repayment tenure of up to 15 years to the borrowers.
The bank allows you to make foreclosure or prepayment of your Kotak Mahindra loan against property after 6 months from the date of loan commencement. For terms and conditions related to the Kotak mortgage loan prepayment and part prepayment, you can reach out to the lender.
Factors such as age, income, employment status etc. are the determinants of Kotak Mahindra loan against property eligibility. Thus, you have to ensure that you meet the eligibility criteria in order to apply for the loan.
Here are the Kotak Mahindra mortgage loan eligibility requirements that you must meet:
Here are the required Kotak Mahindra loan against property documents that you will need to submit at the time of mortgage loan application:
|
Documents |
Salaried Applicants |
Self Employed Applicants |
|
Identity Proof |
Aadhar Card, Voter’s ID Card, Passport, Driving Licence |
Aadhar Card, Voter’s ID Card, Passport, Driving Licence |
|
Address Proof |
PAN Card, Voter’s ID Card, Passport, Driving Licence, Utility Bills such as Electricity, Telephone, Water Bills |
PAN Card, Voter’s ID Card, Passport, Driving Licence, Utility Bills such as Electricity, Telephone, Water Bills |
|
Income Proof |
Salary Slips, Bank Statements, Form 16 |
Balance sheet and profit and loss account, IT Returns, Business Proof |
|
Other Documents |
Passport-size Photographs, Duly Filled Application Form, Any Other Documents Required by the Bank |
Passport-size Photographs, Duly Filled Application Form, Any Other Documents Required by the Bank |
|
BANKS |
INTEREST RATE |
|
Starts at 11.25% |
|
|
Starts at 10.85% |
|
|
Starts at 10.50% |
|
|
Starts at 11.25% |
|
|
10.65% to 16.25% |
|
|
Starts at 8.60% |
|
|
Starts at 9.00% |
|
|
Starts at 8.75% |
|
|
Starts at 8.15% |
|
|
Starts at 9.50% |
Kotak Mahindra bank loan against property EMI calculator is a fantastic tool that brings you the calculation of your monthly spends on mortgage loan. This tool gives you a hand in establishing a monthly budget looking at the cost of your Kotak Mahindra mortgage loan EMI.
Here is how you can calculate Kotak Mahindra mortgage loan EMI using the Kotak Mahindra bank against property EMI calculator:
Your monthly loan EMI that is payable will reflect below the calculator now.
You can also go to the BankSathi loan calculator where you only need to enter the loan amount requirement, interest rate and years/months of loan repayment tenure. This is an incredible tool where you will find the super fast calculation of your loan, monthly and annually.
Visit the official website of the bank in order to apply for Kotak Mahindra bank loan against property offline. When visiting the bank branch, you must carry all the necessary documents that the bank will require you to submit for the loan application.
Here is how you can apply for Kotak Mahindra loan against property online:
You can dial the following bank customer care number in case of any query or grievances regarding the loan:
1860 266 2666
The maximum loan amount you can avail for Kotak Mahindra loan against property is Rs 5 crore.
The maximum loan repayment tenure for which you can avail the Kotak Mahindra loan is 15 years.
The bank charges a processing fee of 1% of the loan amount plus applicable taxes.
The age criteria for salaried loan applicants is 18 to 60 years and for self employed borrowers and professionals, it is 21 years to 65 years.
You can offer commercial (shops or office), residential or industrial property as collateral to the bank.
Last Updated on : 01/May/2021Know More About
You're eligible for a Kotak Mahindra Loan Against Property if you:
Are legally adult enough to handle it
Have still got it
Get a regular pay check
Make more than a basic buck
Your eligibility depends on:
Earn more than minimum income required
Maximum allowed Loans Against Properties is Rs. 10K to Rs. 45 lakhs
EMIs of other loans loweryour eligibility
Boost your eligibility by:
Pay off your credit card bills
Choose longer tenure loan up to 5 years
Nothing gets done without that paperwork (which we'll happily carry over to the bank for you, no sweat). Here's what you'll need:
- 1. Photo ID and age proof
- 2. Signed application form with photograph
- 3. Residence proof
- 4. Last 6 months bank statement
- 5. Documentation for salaried applicants:
- Last 3 months salary - slips
- Form 16 or Income Tax Returns
- 6. Documentation for self-employed applicants:
- Last 3 years Income Tax Returns with computation of Income
- Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account
Updated on 25 Nov 2017
| Kotak Mahindra Loan Against Property Details | |
|---|---|
| Interest Rate (Monthly reducing balance) | 9.5% - 11.7% |
| Processing Fees | 1% + GST |
| Loan Tenure | 1 year to 15 years |
| Pre-closure Charges | Varies with bank |
| Guarantor Requirement | Varies with bank |
Loans Against Properties EMI Calculator