70 Lakh Home Loan Kotak Bank

Kotak Mahindra Bank provides financial assistance to home loan borrowers at attractive interest rates that you must pay attention to. Ensuring a smooth loan application process, the plan has gotten into the eyes of various home borrowers this year. Whether it’s allowing home loaners to finance up to 90% of their dream property value or offering a smooth loan approval process. Indeed, you can consider the 70 lakh home loan EMI by Kotak for seeking lower EMIs and better interest rates starting from 8.70%. Below, we will discuss all the important features and criteria you need to know about Kotak home loan 70 lakh EMI. 

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Written By
Utsah Sharma
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
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 70 lakh Home Loan- Highlights

Following are the highlights of Kotak’s 70 lakh home loan. Take a look!  

Feature Description
Loan Amount ₹70,00,000
Kotak Home Loan Interest Rate for 70 lakhs Starts from 8.70% p.a.
70 Lakh Home Loan Eligibility by Kotak Both Salaried/Self-employed
Loan Tenure 12 to 300 months
Processing Fee Up to 2% of the loan amount
Prepayment Charges Nil
Minimum Monthly Income INR 20,000 (For cosmopolitan cities), INR 15,000 (For other cities)

70 lakh Home Loan EMI for 10 years – Kotak

Here is the 70 lakh home loan EMI in Kotak for a 10-year loan tenure:

Loan Amount Interest Rate Loan Tenure EMI Interest Payable
70 Lakh 8.40% p.a. 10 years INR 87541 3,504,864

70 lakh Home Loan EMI for 20 years -Kotak 

Here is the 70 lakh home loan EMI in Kotak for a 20-year loan tenure:

Loan Amount Interest Rate Loan Tenure EMI Interest Payable
70 Lakh 8.40% p.a. 20 years INR 61637 7,792,785

Kotak 70 Lakh Home Loan – Fees and Charges

Let’s take a look at the fees and charges imposed by Kotak for 70 lakh homes:

Fee Description
Processing Fee 0.5% on the amount non-inclusive of other taxes or charges
Foreclosure Charges Nil
Late Payment Charges 2%
Cheque Dishonour Fee Rs. 750
Documentation Fee Up to Rs. 10,000

70 lakh Kotak Home Loan – Documents Required

Here is the list of documents required for 70 lakh Kotak Home Loan. 

To complete formalities, provide identity proof like a Passport, Adhaar, or PAN card; age verification via Passport, Birth Certificate, or License; address validation through utility bills or bank statements; financial statements for 6 months; employment proof or business documents; and property verification via NOC, sale deed, or allotment letter.

70 lakh Kotak Home Loan Eligibility – Kotak

Here is a table briefing about the 70 Lakh Kotak Home Loan Eligibility. 

Eligibility Criteria Salaried Employee Self-Employed Individual
Applicant’s Age 18-60 years 18-65 years
Income Stability Metro Cities: INR 20,000/month Metro Cities: INR 20,000/month
Non-Metro Cities: INR 15,000/month Non-Metro Cities: INR 15,000/month
Nationality Must be an Indian citizen Must be an Indian citizen
Education Qualifications Minimum bachelor’s degree for No minimum qualification
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