Kotak Mahindra Bank is one of the largest private sector banks in India in terms of market capitalization and is based in Mumbai, Maharashtra. Kotak Mahindra is a one-stop destination for all of your credit needs due to its reasonable interest rates and other benefits it offers to its customers. Apply for a loan against Kotak Mahindra Bank property and take advantage of the impressive features and benefits.
Kotak Mahindra Bank property loans can be used against commercial, private or industrial property rights.
The applicant can avail Rs value of loans. 10 lakh at Rs. 3 million rupees.
In the case of commercial real estate loans or loans on existing properties, an applicant can take up to 55% of the real estate costs in the form of a loan.
The bank decides how much a person can borrow based on the creditworthiness of the borrower. The repayment capacity is calculated on the basis of the income, age, education level of the borrower, number of parents, income of the spouse, assets, liabilities, savings history, occupation, the company profile, the duration of operation of the existing company and the net amount of the accommodation.
Income: A candidate, whether professional or not, with an annual minimum income of Rs. 1.44 Lakh can be requested according to your declaration of income certified by the certification body.
The signature/company of the applicant must be valid for at least 3 years. Applicable to professional and non-professional freelancers.
The applicant’s business or businesses must receive cash benefits for at least two years.
A maximum of 65 years at the time of loan expiration.
For independent business owners:
The minimum annual income must be Rs. 1.44 lakh according to the profit and loss account.
The minimum age must be 21 years old.
The maximum age at maturity must be 65 years.
The company should have been operational for 6 years.
The business/enterprise should have made cash profits in the past 2 years.
Proof of identity
Proof of birth
The last RTI, as well as the calculation of the income, balance sheet and gain and loss of air conditioning for the last two years, certified by a professional CA
Account statement: These documents are intended to verify the applicant’s profit and loss account before applying for the loan. This also shows the financial situation of the person who shows his creditworthiness.
Loan processing fees: also known as property fees. These fees are charged up to 2.00% of the loan amount plus service tax.
Documentation costs: The bank charges documentation costs of 10,000 rupees in the case of a loan against property.
Credit management fees: The bank does not charge credit management fees.
Credit Check Fee: The bank does not charge a credit check fee.
Deployment costs: the bank charges a deployment cost of 2% on the instant loan amount less than the amount paid. These fees also apply if the loan is executed before the sanctioned amount has been paid in full.
Collection costs: The bank invoices collection costs corresponding to 30% of the costs of checks/instruments + interest due. However, these fees include the service tax and other applicable statutory taxes.
Payment refusal check: the bank invoices a return of checks of 750 rupees, including the service tax and other applicable statutory taxes.
Exchange Fees: These fees are Rs. 500 per exchange. These fees do not include service taxes. Service taxes and possibly other statutory taxes are collected above the above-mentioned fees.