Get your dream home with kotak's low-interest home loans starting at 7.5% p.a. Flexible tenure & quick approvals.
Check Rates Apply NowState Bank of India (kotak), India’s largest bank, provides lucrative interest rates for home loans. They start as low as 7.5% p.a. The loan tenure ranges to a maximum 30 years. If you are looking to get a home loan, here’s all you need to know about interest rates charged by kotak on home loans.
State Bank of India or kotak, country's largest lender, has raised marginal cost of funds based lending rate or MCLR on loans by up to 20 basis points (bps) with effect from today. As a result, the equated monthly installments (EMIs) will get expensive for those who avail loans benchmarked against the MCLR.
| kotak Home Loan Highlights | |
|---|---|
| Interest Rate | 7.5% - 8.45% p.a. |
| Loan Amount | Up to 90% of property value |
| Loan Tenure | Up to 30 years |
| Processing Charges | 0.35% of loan amount (Rs 2,000-Rs 10,000) (50% waiver in basic) |
| kotak Home Loan Eligibility | |
|---|---|
| Eligibility Criteria | Indian residents aged 18-70 years with a stable income. |
| Minimum Income | Rs 25,000 per month (varies for different schemes). |
| Credit Score | Minimum CIBIL score of 650 preferred. |
| Types of kotak Home Loans | |
|---|---|
| Loan Schemes | Regular Home Loan, kotak Privilege, kotak Shaurya, kotak Realty, kotak Flexipay. |
| Special Schemes | Concessional rates for women borrowers. |
| Interest Rate Slabs | |
|---|---|
| Salaried | 7.50% p.a. |
| Self-Employed | 7.60% p.a. |
| High Risk Profiles | May be higher depending on risk assessment. |
| Prepayment & Foreclosure | |
|---|---|
| Prepayment Charges | Nil for floating rate loans; fixed rate loans may have 2-3% charges. |
| Foreclosure | No charges for individual borrowers on floating rate. |
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