About kotak Mahindra Bank

Kotak Mahindra Bank ranks as the fourth largest bank in India. The bank was established in the year 1985 by Mr. Uday Kotak who is the founder of the bank. Mr. Kotak brought this bank into existence to deliver smart financial solutions to cater for financial needs of several Indians. Kotak started its voyage as “Kotak Mahindra Finance Limited (KMFL)” and it didn’t take too long for the bank to acquire license for banking from the Reserve Bank of India (RBI). After receiving license from RBI, KMFL emerged successfully the first non-banking organization to get transformed into a banking firm. As on date, the bank is well known as Kotak Mahindra Bank Limited (KMBL) with 245th ranking amongst the top 500 banks across the globe. Kotak ranks as one of the top 5 organizations for Corporate Governance in IR Global ranking. Recently, the bank acquired ING Vyasa Bank dated 1st April 2015 as a result of a profitable symbiosis and lucrative union between the banks with an aim to increase the umbrella of Kotak.

Kotak Mahindra Bank Home Loan - Highlights

Kotak Home Loan Amount : Kotak offers you home loans amount upto 80% -90% of the total value of your property for purchase of a residential property which can be new, old, etc.

: Kotak offers you home loans amount upto 80% -90% of the total value of your property for purchase of a residential property which can be new, old, etc. Kotak Home Loan Rate of Interest : Home loans can be obtained at fixed rate of interest and floating rate of interests depending on your choice.

: Home loans can be obtained at fixed rate of interest and floating rate of interests depending on your choice. Kotak Service at your Doorstep : Kotak offers doorstep services for your ease of processing.

: Kotak offers doorstep services for your ease of processing. Kotak Home Loan Mode of Repayment : You can pay back the loan amount through flexible mode of repayment which includes ECS or PDC.

: You can pay back the loan amount through flexible mode of repayment which includes ECS or PDC. Kotak Home Loan Tenure : At Kotak you can easily relish lower EMI and ROI that can be paid during long loan tenures.

: At Kotak you can easily relish lower EMI and ROI that can be paid during long loan tenures. Kotak Home Loan Balance Transfer : Kotak offers you facilities where you can reconsider your prevailing home loan charges and obtain home loan at lower rate of interest and lower EMI.

: Kotak offers you facilities where you can reconsider your prevailing home loan charges and obtain home loan at lower rate of interest and lower EMI. Kotak Home Improvement Loans : You can consider Kotak Home improvement loans if you were looking for loans that can cater for your house renovation.

: You can consider Kotak Home improvement loans if you were looking for loans that can cater for your house renovation. Kotak Home Loan Eligibility to apply for Home Loans : Your eligibility to apply for home loans at Kotak totally depends on your capability to pay back the loan amount, your annual income, the source of your income, your credit history, your work experience, age, qualification, the no. of dependants you bear, and also probability of the individuals into same occupation

: Your eligibility to apply for home loans at Kotak totally depends on your capability to pay back the loan amount, your annual income, the source of your income, your credit history, your work experience, age, qualification, the no. of dependants you bear, and also probability of the individuals into same occupation You can apply for Kotak Mahindra Home loan either individually or along with a co-applicant. The co-owners may or may not be the owners of the property.

Kotak Home Loan Documentation required to obtain Home Loans : While obtaining home loans at Kotak your income proof- salary slips, banking details – bank statement, Income tax return certificates, KYC documents, your signature proofs, as well as your education qualification proofs are required.

About Letzbank

Letzbank is an online loan shopping gateway that aims at making things easier your search for all kinds of loan products.

You can apply for Home Loan by searching the right loan and submitting your application at Letzbank.

Letzbank will assist you in inspecting various home loans offers that are offered by prominent partner banks in India.

Home Loans at Letzbank can be viewed on the website for ease of understanding. The customers can choose from the website and also customise the Home Loan product as per their affordability by utilizing Home Loan EMI Calculators, so that your Home Loan EMI fits into your budget. By making use of Home Loan Calculators – you can efficiently do your financial planning for the entire loan tenure.

Home Loan offers portrayed at Letzbank come along with numerous benefits which would include Nil-Fore Closure Charges, Zero Service Fee, making your home loan product even better-looking.

At Letzbank, you can e-save your KYC, and property documents at uniquely designed Document Locker to ensure your Documents are in right hands for you to carry out a transaction now and also in the future. Apply Today!

Frequently Asked Questions:

What would determine my Eligibility?

Basically your eligibility is determined by your capacity to pay back which is solely at the discretion of the bank. To ensure your Repayment capacity the banks takes into account factors as mentioned below:

Income

Age

Qualifications

Number of dependent's

Spouse's income

Assets

Liabilities

Savings history

Stability

Continuity of occupation.

How much loan can I obtain?

The bank offers loans upto 90% of the total value of your property

For Home Loan amount requirements Rs. 20-75 Lacs 80% of the total value of property is given

For Home Loan amount requirements more than 75 Lacs 75% of the total value of property is given

In case of Commercial Loans against Property or Loans against an already existing property the bank may give you loan amount upto to 60% of the cost of the property.

Who can be my co-applicant?

You can apply for Home Loans along with a co-applicant to enhance the loan amount. If you are an individual your spouse, your parents, your children who are major can act as your co-applicants at the time of submission of your home loan application. The co-owner of a property must be a co-applicant, however, it is not necessary that the co-applicant should be a co-owner of the property.

What kind of Security Deposit I will have to make?

In most of the cases, the property you wish to apply for a home Loan itself is a security till the time the entire loan amount has been paid back to the bank along with the rate of interest. In certain cases the bank may ask you to purchase a Life Insurance as well as Property Insurance to ensure that loan is paid in case of any unforeseen event.