About Kotak Home Loan
With home loans from Kotak, you can finally buy the house of your dreams. However, before beginning the procedure, consider advantages, interest rates, and other significant costs. These factors collectively have a long-term effect on your total repayment plan.
Furthermore, you don't have to wait for the bank employee to notify you if you are eligible for the loan or not. A tool called a home loan eligibility calculator can be used to determine your qualification. Watch to see how.
What is a Home Loan Eligibility Calculator and How to Use it?
It is an online tool that can assist you in determining whether you are eligible for the loan amount you want to borrow. On the website, you can use Kotak's loan eligibility calculator to determine your eligibility by entering your monthly income and duration. It can also assist you in estimating the size of your loan and creating a budget for purchasing your home.
You should have the following information to use Kotak's home loan eligibility calculator: monthly income, tenure, any current liabilities, etc.
- Visit the home loan website and select the tab for the eligibility checker.
- Please enter your birthdate.
- Choose your residence city from the drop-down menu.
- Use the space below to enter your monthly income or the slider.
- Enter the other monthly obligations, such as EMI.
- Then, you can immediately see your housing loan eligibility and continue with the application.
Features and Advantages of a Kotak Home Loan
- Minimal Processing fees with Kotak housing finance.
- Attractive interest rate starting at 7.99%
- Easy Documentation.
- Enjoy doorstep services.
- Affordable Home Loan Insurance.
- Dedicated Relationship Manager.
- Zero Foreclosure Charges.
Eligibility Criteria
Your eligibility for a house loan is influenced by things like your age, income, city of residence, outstanding debt, etc. To pass a house loan, you must fulfill the following requirements:
- You must be an Indian resident.
- If you receive a salary, you should be age between 18 and 60.
- If you work for yourself, you should be age between 18 and 65.
- If you reside in Delhi, Mumbai, Bangalore, Pune, or Chennai, your minimum monthly income should be Rs 20,000.
- If you reside in any other city, your minimum monthly income should be Rs 15,000.
- You should have a bachelor's degree if you work for a private corporation or a partnership firm.
Documents Required for Kotak Home Loan
- Identity Proof.
- Income Proof.
- PAN card, Aadhaar Card, Passport, Driving License, Voter ID.
- Banking information.
- Proof of educational qualification.
How to Apply for Kotak Home Loan?
- Apply online for a home loan at the Kotak website. You could even go to the nearest branch.
- Just give the documentation needed for the housing loan.
- The online application process at Kotak makes instant home loan approval feasible.
- Documents are processed right away after a house loan is approved.