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Get closer to the home of your dreams with Kotak Mahindra Home Loan

Get closer to the home of your dreams with Kotak Mahindra Home Loan - (A)

We understand how special it is to take the first step in your new home. This is exactly why Kotak Mahindra Bank offers you a range of tailor-made mortgage loans from which to choose to guarantee you a perfect and pleasant buying experience.

Features

  • No processing fee

Save on processing fees when you apply for your mortgage online.

  • Free doorstep service

No more running to start your mortgage process.

  • Fast processing

We understand how eager you are to get your instant home loan quickly.

Eligibility

In Kotak, we present a simple process that lists the eligibility criteria for Kotak mortgages. Get detailed information on the mortgage loan eligibility criteria and the role they play in the whole process.

Eligible for Mortgage Loans

In Kotak, we present a simple procedure that contains the eligibility criteria for Kotak mortgages. Let us give you details on the mortgage eligibility criteria and their role in the whole process.

Mortgage eligibility criteria for an individual year:

Salary between 18 and 60 years old

Autonomous between 18 and 65 years old

Gross income of a person residing in India:

(Delhi, Mumbai, Bangalore, Pune, and Chennai) – The minimum income must be Rs 20,000 / month.

(Other cities) – The minimum income must be Rs 15,000 / month.

Minimum qualifications:

Completion of the applicant is employed in a private enterprise or in a company. If the applicant is employed in an enterprise or in a multinational enterprise or in a public or state enterprise, there is no such criterion.

Associate / LLP / Indian Company Mortgage Eligibility Criteria

It must have existed for at least 3 years.

Gross partnership sales / LLP / Indian company:

(Delhi, Mumbai, Bangalore, Pune, and Chennai) – The minimum net income must be Rs.

(Other cities) – The minimum net income must be Rs. 1, 80,000 / – p.a. amount to

Mortgage Eligibility Criteria for an Undivided Hindu Family (HUF)

The HUF card must be requested.

It must have existed for at least 3 years.

HUF IT returns must be collected for 3 years.

Net income of an undivided Hindu family:

(Delhi, Mumbai, Bangalore, Pune, and Chennai) – The minimum income must be Rs.2, 40,000 / -p.a.

(Other cities) – The minimum income must be Rs. 1, 80,000 / – p.a respectively.

You can also inquire about the admission criteria for Pradhan Mantri Awas Yojana

Documents required for the mortgage

Documents required to obtain a mortgage loan for a salaried applicant:

  • Photo (passport size) – 1
  • Copy of the panoramic map (all candidates with proof of relationship) – 1 piece
  • Copy of Aadhaar card (all candidates with proof of relationship) – 1 piece
  • Copy of proof of residence (all applicants with proof of relationship) – 1 piece
  • Proof of salary (of all candidates whose income is taken into account) – last 3 months
  • Form 16 and ITR (of all candidates whose income is taken into account) – last 2 years
  • Original bank statement on which the salary is credited (by all candidates whose income is taken into account) – last 6 months
  • Another bank account statement (of all applicants whose income is taken into account) – last 6 months
  • Relationship proof
  • Loan details with history available (if loans are available)
  • All ownership documents (chain) with sanction card

Documents for self-employed

  • Account statement /Copy of last 12 months bank statement/bank book (for applicants whose income is considered eligible) of all accounts specified in the request form, indicating the name of the account holder, account number, name of the bank and the branch
  • Proof of age
  • Proof of income and business continuity
  • Proof and other documents required to use the mortgage

CHECK YOUR MAXIMUM HOME LOAN ELIGIBILITY NOW

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