20 Lakh Home Loan Kotak Bank

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Established in 1985, Kotak Mahindra Bank has emerged as a prominent entity in the private banking sector, renowned for its steadfast commitment to reliability and innovation, especially in home financing. The bank's home loan services are meticulously crafted to cater to the varied requirements of its clientele, ensuring accessibility, flexibility, and a competitive edge.

Kotak Mahindra Bank's dedication to enabling individuals and families to achieve their homeownership aspirations is reflected in its comprehensive, customer-focused home loan solutions. These solutions, designed to recognise home buying as both a financial investment and a step towards the future, feature attractive interest rates, streamlined application procedures, and diverse customisation options, positioning Kotak Mahindra Bank as the first choice for prospective homebuyers. Today, we will talk about the Kotak 20 lakh home loan and everything you must know about it, from eligibility criteria and highlights to the documentation required.

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Table of Content

1. Kotak 20 lakh Home Loan Highlights

2. 20 lakh Home Loan EMI for 10 Years Kotak Mahindra Bank

3. 20 lakh Home Loan EMI for 20 Years Kotak

4. Kotak 20 lakh Home Loan Fees and Charges

5. 20 lakh Kotak Home Loan Documents Required

6. 20 lakh Home Loan Eligibility Kotak

Written By

Kirti Bansal

Kirti Bansal is an esteemed financial expert and accomplished writer, specializing in a range of financial topics, including Financial Services, Investments, Loan Assessments, Mutual Funds, and Banking. With a wealth of experience in the financial industry, she has earned a reputation as a trusted voice! Her expertise serves as a beacon for those navigating the intricacies of finance.

Reviewed By

Amit Prakash Singh

Co-Founder, Square Yards & Chief Business Officer, Urban Money

Amit Prakash Singh is the Chief Business Officer at Urban Money. With over nine years of experience at Square Capital, he has played a crucial role in establishing it as one of India's premier loan advisory services. Amit's deep financial insights and extensive knowledge have driven significant business growth and strategic advancements. He has successfully built and managed large sales teams, optimised costs, and created leaders within the industry. Amit's financial expertise and strategic vision are key to the ongoing success and expansion of Square Yards and Urban Money.

Kotak 20 lakh Home Loan – Highlights

Following are the highlights of Kotak Mahindra Bank’s 20 lakh home loan. Take a look!

Interest Rates8.70% onwards

Loan Amount	Upto 75 lakh
Loan Tenure	Upto 25 years
Eligibility	Salaried/Self-employed

20 lakh Home Loan EMI for 10 Years – Kotak Mahindra Bank

Following is the 20 lakh home loan EMI for Kotak for a 10-year loan tenure:

Loan Amount	Interest Rate	Loan Tenure	EMI
2 crore	8.70% p.a.	10 years	INR 25,011

20 lakh Home Loan EMI for 20 Years Kotak

Here is the 20 lakh home loan EMI in Bank of Kotak for a 10-year loan tenure:

Loan Amount	Interest Rate	Loan Tenure	EMI
2 crore	8.70% p.a.	20 years	INR 17,610

Kotak 20 lakh Home Loan – Fees and Charges

Following are the fees and charges for a Kotak 20 lakh home loan.

Stage	Fee/Charge Description	Payable at	Amount in Rs.
Pre-disbursement	Processing fee (PF)	Application	Salaried: 0.5% processing fee on loan amount + taxes. Self-Employed/HL Top-up/Commercial: 1.0% processing fee on loan amount + taxes. Upfront Fee: Rs. 5,000 (non-refundable + taxes), adjusted in total fee.
Post-disbursement	Copy of Any Documents, Interest Certificate/ Statement of Account/ Amortisation Schedule	Event	Accessed via self-service: Free; Physical/Soft copy request: Rs. 250 (plus taxes, etc.)
	Charges for a copy of any documents (Duplicate NOC)	Event	Rs. 100 plus taxes
	Charges for copy of any documents (Copy of property documents, etc.)	Event	Rs. 500 plus taxes
	List Of Documents	Event	Rs. 500 plus taxes
	Any Other documents/letter (e.g. a confirmation Letter, etc.)	Event	Rs. 500 plus taxes
	Change in Repayment mode, Repayment mode/ Account swap charges	Repayment mode change	Rs. 500 plus taxes
	Conversion Fee, Switch Fee	On conversion	Conversion to a Lower Interest Rate: A fee equivalent to 0.5% of the outstanding principal amount is applicable, subject to a maximum limit of Rs. 10,000, plus applicable taxes and statutory dues.
	Rescheduling of Loan Term	On conversion	Rs. 500 (plus taxes, etc.)

20 lakh Kotak Home Loan – Documents Required

Here is the list of documents required for 20 lakh Kotak home loan.

Proof type	Document
Bank Statements/ passbook copy	Bank statement/passbook copy of last six months
Age proof	Passport
	Driving licence
	School leaving certificate
	Birth certificate
	Voters identity card
	PAN card
Income Proof	Last 3 month salary slips
	Form 16 of latest 1 assessment year
	Latest 3 years income tax returns, personal and business along with computation of income.
	Latest 3 years’ profit and loss accounts and balance sheet with schedules duly certified by a chartered accountant.
Business/Service/Profession Proof	Professional experience / Business or Partnership existence proof
Repayment Proof	Repayment track record (RTR)/Proof wherever Applicable
Property Proof	All Property documents
Other Proof	Degree certificate
Other Proof	Registration Proof

20 lakh Home Loan Eligibility Kotak

Here is the eligibility criteria for INR 20 Lakh Kotak Home Loan:

Age Requirements:

Salaried individuals: 18 to 60 years.
Self-employed individuals: 18 to 65 years.

Residency and Income Criteria:

Metro cities (Delhi, Mumbai, Bangalore, Pune, Chennai): Minimum gross income of Rs. 20,000 per month.
Other cities: Minimum gross income of Rs. 15,000 per month.

Educational Qualifications:

Applicants in private limited companies or partnership firms: At least a bachelor’s degree.
Applicants in public limited companies, MNCs, government, or public sector: No minimum educational qualification is required.

Frequently Asked Question (FAQs)

What is the Equated Monthly Installment (EMI) for a Rs. 20 lakh home loan for a tenure of 20 years at Kotak Mahindra Bank?

The EMI amount for 20 lakh home loan at an interest rate of 8.70% will be INR 17,610.

Who qualifies for a Rs. 20 lakh home loan at Kotak Mahindra Bank?

Eligibility for a Rs. 20 lakh home loan at Kotak Mahindra Bank is determined based on the bank's standard home loan eligibility criteria.

What is the monthly interest rate for a Rs. 20 lakh home loan at Kotak Mahindra Bank?

The monthly interest rates for a Rs. 20 lakh home loan at Kotak Mahindra Bank commence from 8.70%.

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