30 Lakh Home Loan Kotak Bank

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Kotak Mahindra Bank is one of the leading banks in the private banking sector. Founded in 1985, the bank stands as a beacon of reliability and innovation, particularly in the domain of home financing. Kotak’s home loan services are tailored to meet the diverse needs of their respective customers. It ensures accessibility, flexibility, and competitiveness.

Through extensive and client-focused home loan options, Kotak Mahindra Bank is dedicated to enabling individuals and families to realise their dream of home ownership. The offerings are designed with the understanding that purchasing a home is not just a financial decision but a step towards building a future. With attractive interest rates, simplified application processes, and a range of customised options Kotak Mahindra Bank’s home loans are an ideal choice for someone who wants to buy a home.

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Table of Content

1. Kotak 30 Lakh Home Loan Highlights

2. 30 Lakh Home Loan EMI for 10 Years Kotak Mahindra Bank

3. 30 Lakh Home Loan EMI for 20 Years Kotak

4. Kotak 30 Lakh Home Loan Fees and Charges

5. 30 Lakh Kotak Home Loan Documents Required

6. 30 Lakh Home Loan Eligibility Kotak

Written By

Amrita Sinha

Amrita Sinha comes with a background in journalism and mass communication, drawing from her roots in journalism, she has found her voice in the world of finance. As an accomplished writer, she specialises in Financial Services, Mutual Funds, Loan Assessments, Banking & Loan Products. She has established herself as a reliable expert in the field, offering valuable advice to those looking to navigate the various aspects of personal 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 30 Lakh Home Loan – Highlights

Following are the highlights of Kotak Mahindra Bank’s 30 lakh home loan. Take a look!

Interest Rates	8.70% onwards
Loan Amount	Upto 75 lakh
Loan Tenure	Upto 25 years
Eligibility	Salaried/Self-employed

30 Lakh Home Loan EMI for 10 Years – Kotak Mahindra Bank

Following is the 30 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 37,517

30 Lakh Home Loan EMI for 20 Years Kotak

Here is the 30 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 26,415

Kotak 30 Lakh Home Loan – Fees and Charges

Stage	Fee/Charge Description	Payable at	Amount in Rs.
Pre-disbursement	Processing fee (PF)	Application	Salaried Individuals: Processing fee of 0.5% of the loan amount plus applicable taxes. Self-Employed/HL Top-up/Commercial Purchase: A processing fee of 1.0% of the loan amount plus taxes. Upfront Fee: Rs. 5,000 (non-refundable, plus taxes), adjusted in the overall 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 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.)	Event	Rs. 500 plus taxes
	Change in Repayment mode, repayment mode/ account swap charges	Repayment mode change	Rs. 500 plus taxes
	Conversion Fee and 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.)

30 Lakh Kotak Home Loan – Documents Required

Here is the list of documents required for a 30 lakh Kotak home loan.

Proof type	Document
Bank Statements/ passbook copy	Bank statement/pass book 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’s 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

30 Lakh Home Loan Eligibility Kotak

Following is the home loan eligibility criteria for 30 lakh Kotak home loan.

Age Criteria for 30 lakh Kotak home loan:

Salaried individuals must be aged between 18 and 60 years to qualify.
Self-employed individuals must be aged between 18 and 65 years.

Residency and Income Requirements:

Indian residents must demonstrate a gross income of at least Rs. 20,000 per month in metro cities like Delhi, Mumbai, Bangalore, Pune, and Chennai.
For residents in other cities, a minimum monthly income of Rs. 15,000 is required.

Educational qualifications for 30 lakh home loan:

Applicants employed in private limited companies or partnership firms are required to have a minimum of a bachelor’s degree.
For individuals working in public limited companies, MNCs, government, or public sector companies, there is no stipulation for a minimum educational qualification.
These criteria encapsulate the prerequisites for individuals seeking home loans, ensuring a comprehensive understanding of the eligibility requirements.

Frequently Asked Question (FAQs)

What is the EMI for a 30 lakh home loan for 20 years in Kotak?

The EMI for 30 lakh Kotak home loan for 20 years at an interest rate of 8.70% would be INR 26,415.

Who is eligible for a 30 lakh home loan in Kotak?

Any applicant who meets the basic eligibility criteria as per Kotak home loan policies will be eligible for a 30 lakh home loan.

What is the monthly interest rate of a 30 lakh home loan in Kotak?

The monthly interest rates for a 30 lakh home loan start at 8.70%.

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