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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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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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