50 Lakh Home Loan Kotak Bank

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Over the years, Kotak Mahindra Bank has distinguished itself as a key player in India's private banking sector, recognised for its unwavering dedication to reliability and innovative practices, particularly in the sphere of home financing. The bank's home loan services are expertly tailored to meet the diverse needs of its customers, offering accessibility, flexibility, and competitive advantages. Kotak Mahindra Bank provides comprehensive, customer-centric home loan solutions. This positions Kotak Mahindra Bank as a preferred choice for homebuyers. Today, we will delve into the specifics of the Kotak 50 lakh home loan, covering aspects from eligibility criteria to essential documentation.

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Table of Content

1. Kotak 50 lakh Home Loan Highlights

2. 50 lakh Home Loan EMI for 10 Years Kotak Mahindra Bank

3. 50 lakh Home Loan EMI for 20 Years Kotak

4. Kotak 50 lakh Home Loan Fees and Charges

5. 50 Lakh Kotak Home Loan Documents Required

6. 50 lakh Home Loan Eligibility Kotak

Written By

Utsah Sharma

Utsah Sharma is a seasoned financial expert with a Master’s Degree in Commerce specialising in Financial Services, Investments, Loan Assessments, Mutual Funds, Banking & Loan products. Drawing on her experience, she has established herself as a trusted voice, providing invaluable insights and guidance to seasoned investors and beginners. She is committed to breaking down the complexities of everything 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 50 lakh Home Loan – Highlights

Take a look at the highlights of Kotak home loan for 50 lakh.

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

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

Following is the 50 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 62,528

50 lakh Home Loan EMI for 20 Years Kotak

Here is the 50 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 44,026

Kotak 50 lakh Home Loan – Fees and Charges

Following are the fees and charges for Kotak 50 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 subsidy 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.)

50 Lakh Kotak Home Loan – Documents Required

Following is the list of documents that the applicant will need for a 50 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

50 lakh Home Loan Eligibility Kotak

Take a look at the eligibility criteria for an INR 50 lakh Kotak home loan:

Age Criteria for Loan Applicants:

Salaried Personnel: Eligibility ranges from 18 to 60 years of age.
Self-Employed Individuals: Eligibility extends from 18 to 65 years.

Residency and Income Requirements:

In metropolitan areas (Delhi, Mumbai, Bangalore, Pune, and Chennai), a minimum gross monthly income of Rs. 20,000 is required.
In other cities, the minimum gross monthly income is set at Rs. 15,000.

Educational Qualifications:

For applicants employed in private limited companies or partnership firms, a minimum of a bachelor’s degree is mandatory.
For those in public limited companies, MNCs, government, or public sector organisations, there is no specific requirement for a minimum educational qualification.

Frequently Asked Question (FAQs)

Calculation of the Equated Monthly Installment (EMI) for a Rs. 50 Lakh Home Loan Over 20 Years at Kotak Mahindra Bank?

The EMI for a home loan of Rs. 50 Lakh at an interest rate of 8.70% is calculated to be INR 44,026.

Eligibility Criteria for a Rs. 50 Lakh Home Loan at Kotak Mahindra Bank?

Eligibility for a Rs. 50 lakh home loan is determined in accordance with Kotak Mahindra Bank's standard home loan eligibility guidelines.

Monthly Interest Rate for a Rs. 50 Lakh Home Loan at Kotak Mahindra Bank?

The starting monthly interest rate for a Rs. 50 lakh home loan at Kotak Mahindra Bank is 8.70%.

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