85 Lakh Home Loan Kotak

If you are looking for financial assistance to fulfil your dream of buying a home, Kotak Mahindra Bank has got you covered with its 85 Lakh Home Loan. Linked to the RBI's repo rate, the Kotak 85 Lakh Home Loan offers competitive interest rates, and with a tenure of up to 25 years, you can choose a repayment period that suits your financial goals. Minimal document requirements and a 50% processing fee reduction for digital applications make the process hassle-free. The loan is also eligible for the Pradhan Mantri Awas Yojana (PMAY) subsidy, further reducing the cost of the loan. With an 80% loan-to-value (LTV) ratio, you can avail of a higher amount of funds to make your dream home a reality.

85 Lakh Home Loan Kotak – Highlights 

85 Lakh home loan emi for 10 years Kotak 

It is easy to calculate the EMIs on your loan with a 85 Lakh loan emi calculator of Kotak. Here is a general projection of 85 Lakh home loan emi for 10 years in Kotak using the same principle that the EMI calculator uses.

85 Lakh home loan emi for 20 years Kotak 

Here is a general projection of 85 Lakh home loan emi for 20 years in Kotak.

85 Lakh Kotak home loan – Fees and Charges 

85 Lakh Kotak home loan – Documents Required 

Here is the list of documents required to apply for a Kotak 85 Lakh home loan.

• Identity proof
• Address Proof
• Signature Proof
• Document properties/lease agreement documents for collateral
• 6 months’ bank statements of savings account/salary account/NRE account/NRO account/business account (whichever is applicable)
• Form 16 & last 3 months’ salary slips (for salaried applicants)
• ITR of last 3 years and balance sheet with Profit and Loss computation (for self-employed applicants)
• Repayment Track Record of previous loans (if available)

85 Lakh Kotak home loan – Eligibility Criteria 

The criteria for 85 Lakh home loan eligibility in Kotak are strict and specific to the applicant’s income, residing address and more.

Home Loan Eligibility Criteria for an Individual

Age

• Salaried persons: 18-60 years.
• Self-employed persons: 18-65 years.

Income

• Minimum Income of Rs. 20,000 per month: Delhi, Mumbai, Bangalore, Pune, and Chennai residents.
• Minimum Income of Rs. 15,000 per month: Other cities.

Minimum Qualifications

• Bachelor’s Degree: If the applicant works with a private limited company or a partnership firm.

Home Loan Eligibility Criteria for a Partnership Firm/ LLP/ Indian Company

1. The firm/organisation should have existed for at least three years.
2. Net Income

• 2,40,000 per annum for companies/firms/LLPs in Delhi, Mumbai, Bangalore, Pune, and Chennai.
• 1,80,000 per annum for companies/firms/LLPs in other cities.

Home Loan Eligibility Criteria for a Hindu Undivided Family (HUF)

1. The applicant or the co-applicant must be the Karta of the HUF.
2. The HUF should have been in existence for a minimum of three years.
3. IT returns of at least three years.
4. HUF with a Minimum Net Income of:

• 2,40,000 per annum – Delhi, Mumbai, Bangalore, Pune, and Chennai.
• 1,80,000 per annum – Other cities.