Kotak Mahindra Bank Home Loan
When considering home loans, Kotak Mahindra Bank stands out with competitive interest rates starting at just 8.75% per annum. These rates are available for both salaried and self-employed applicants. You can secure financing for up to 90% of the property’s value, and loan terms extend up to 30 years.
Rate of Interest
8.75% - 9.85%
Loan to Value
80% - 85%
Loan Tenure
Max 30 Years
Max Loan Amount
Upto 5cr
| Rate of Interest | 8.75% - 9.85% |
| Loan Tenure | Max 30 Years |
| Age | Salaried: 18 - 60 years Self Employed: 18 -65 years |
| Profession | Salaried/Self Employed |
| Income | Metro Cities : 20,000/Month & Above Other Cities : 15,000/Month & Above |
| Nationality | Resident Indian/ NRI |
| Max Loan Amount | Upto 5cr |
| Plot Purchase | |
| Independent Building | |
| Apartment | |
| Resale Property | |
| New Construction | |
| LTV | 80% - 85% |
| Home Loan | |
| Plot Cum Construction Loan | |
| Balance Transfer | |
| Overdraft Facility | |
| Top Up Facility | |
| Other Offerings | Home Improvement Loan |
| Processing Fees | 0.5% - 1.00% of the loan amount + GST |
| Other Charges | Reschedulment of Loan Term: Rs. 500 |
| Overdraft Facilities | |
| Highlights | • Attractive Interest Rates • Minimal Documentation • 50% off on processing fees for all digital applications • Customizable Tenure |
*Disclaimer: The interest rate, maximum tenure, and other charges are subject to change, it's advisable to check with our experts for the latest information.
| Loan Amount | ₹ 50,00,000 |
| Loan Tenure | 20 years |
| Rate of Interest | 8.75% - 9.85% |
| Monthly EMI | ₹ 44,185 - ₹ 47,755 |
Kotak Mahindra Home Loan Highlights
Check Kotak Mahindra home loan interest rates, eligibility, required documents, EMI details, and the application process. Apply now and get up to 100% funding.
| Category | Highlights |
|---|---|
| Interest Rate | 8.75% p.a onwards |
| Loan Amount | Up to 90% of the property value |
| Loan Tenure | 30 Years |
| Processing Charges | Salaried: 0.50% of the loan amount Self-Employed, HL top-up/Commercial Purchase: 1.0% of the loan amount |
Kotak Mahindra Home Loan Interest Rates
Kotak Mahindra floating interest rates for both salaried and self-employed borrowers. Rates start from 8.75% p.a. for Home Loans depending on borrower profiles and loan terms. You can choose a fixed rate or a floating rate, according to your financial situation.
| Customer Type | Effective Rate of Interest |
|---|---|
| For Salaried & For Self-employed | 8.75% onwards |
Compare Home Loan Interest Rate Offered by Top Banks
Comparing home loan interest rates from leading banks helps you identify affordable financing options. Get a clearer view of each lender’s terms and choose the best home loan that matches your budget and financial goals.
| Bank | Up to Rs. 30 Lakh | Above Rs. 30 Lakh to Rs. 75 Lakh | Above Rs. 75 Lakh |
|---|---|---|---|
| SBI Bank | 8.50% p.a. onwards | 8.5% p.a. onwards | 8.50% p.a. onwards |
| HDFC Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
| LIC Bank | 8.50% – 10.35% p.a. | 8.50% – 10.55% p.a. | 8.50% – 10.75% p.a. |
| ICICI Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
| Kotak Mahindra Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
| Punjab National Bank | 8.50% – 11.05% p.a. | 8.50% – 11.05% p.a. | 8.50% – 11.05% p.a. |
| Bank Of Baroda | 8.40% – 10.65% p.a. | 8.40% – 10.65% p.a. | 8.40% – 10.90% p.a. |
| Bajaj Housing Finance | 8.50% p.a. onwards | 8.50% p.a. onwards | 8.50% p.a. onwards |
| Axis Bank | 8.75%-10.30% p.a. | 8.75%-10.30% p.a. | 8.75%-10.30% p.a. |
| Bank of India | 8.40% p.a onwards | 8.40% p.a onwards | 8.40% p.a onwards |
| TATA Capital | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
Kotak Mahindra Home Loan Processing Fees
Kotak Mahindra takes processing fees to cover the cost of reviewing your documents and assessing your loan application.
| Category | Processing Fees |
|---|---|
| Processing Fees | Salaried: 0.5% of loan amount Self-Employed, HL top-up/Commercial Purchase: 1.0% of loan amount Upfront PF of Rs. 5,000 is collected at the time of login |
Kotak Mahindra: Top Home Loan Schemes
Kotak Mahindra provides a variety of home loan schemes tailored to meet different needs. These include Home Loans for property purchases, Top-Up Loans for additional financial needs, loans for NRIs and HNIs, Overdraft (OD) Loans for flexible funding, and loans for Home Renovation or Extensions.
Kotak Mahindra Home Loan
Kotak Mahindra Bank provides a variety of home loan options designed to help individuals in India purchase their dream homes. Offering competitive interest rates, flexible eligibility criteria, and resources like home loan calculators, the bank ensures a seamless and informed financing process for prospective homeowners.
Highlights
| Tenure | 30 years |
| Rate of Interest | 8.75% p.a. onwards |
Note: A moratorium period is a temporary pause that allows you to skip loan repayments for a set time
Eligibility Criteria
| Age | 18 to 65 years |
| Minimum Income | Rs. 20,000 per month for residents of Delhi, Mumbai, Bangalore, Pune, and Chennai. Rs. 15,000 per month for the residents of other cities. |
Must Read: Find Out How Much You Can Save with a Home Loan Overdraft
Kotak Mahindra Home Loan Balance Transfer
A home loan balance transfer allows borrowers to transfer their existing home loan to another bank, offering relief to those struggling with high EMIs. Kotak Mahindra Bank simplifies this process with nominal interest rates and reduced monthly installments, easing financial stress and enabling borrowers to focus on what matters most. Apply today for a hassle-free home loan transfer.
Highlights
| Tenure | 30 years |
| Rate of Interest | 8.75% p.a. onwards |
Note: A moratorium period is a temporary pause that allows you to skip loan repayments for a set time
Eligibility Criteria
| Age | 18 to 65 years |
| Minimum Income | Rs. 20,000 per month for residents of Delhi, Mumbai, Bangalore, Pune, and Chennai. Rs. 15,000 per month for the residents of other cities. |
Kotak Mahindra NRI Home Loan
Kotak Mahindra Bank’s NRI Home Loan is designed to help non-resident Indians fulfill their dream of owning a home in India. With tailored facilities, competitive interest rates, and a seamless application process, the bank ensures a stress-free home-buying experience for NRIs. Find the perfect home, and let Kotak take care of the rest.
Highlights
| Tenure | 30 years |
| Rate of Interest | 8.75% p.a. onwards |
Note: A moratorium period is a temporary pause that allows you to skip loan repayments for a set time
Eligibility Criteria
| Age | 18 to 58 years |
| Minimum Income | Annual Gross Salary should be at least: – USA/UK/Other Countries excluding Gulf – Dirhams 36,000 for Gulf Countries – USD 20,000 for Merchant Navy |
Kotak Mahindra Home Renovation Loan
Kotak Mahindra Bank’s Home Renovation Loan offers tailored financial solutions to transform your living space with ease. With competitive interest rates and flexible repayment options, upgrading your home has never been simpler.
Highlights
| Tenure | 25 years |
| Rate of Interest | 8.75% p.a. onwards |
| Maximum Loan Amount | 80 % home renovation loan for amounts from 35 lakhs to 70 lakhs 75 % home renovation loan for amounts above 75 lakhs |
Note: A moratorium period is a temporary pause that allows you to skip loan repayments for a set time
Eligibility Criteria
| Age | From 21 years |
| Other Requirements | – Stable Income Source – A good credit score |
Kotak Mahindra Home Loan for Women
Kotak Mahindra Bank supports the financial independence of women by offering affordable housing loans tailored for women homebuyers. With competitive rates and flexible options, it empowers women to invest confidently in their own homes.
Additional Benefits
- Higher Approval Rate with Faster Processing
- Reduced stamp duty (1 % to 2 % concession)
- Home loans for women have reduced interest rates, lowering the overall cost.
- A longer tenure enables women borrowers to easily repay the complete loan.
Highlights
| Tenure | 30 years |
| Rate of Interest | Home loans for women have reduced interest rates, lowering the overall cost. |
| Maximum Loan Amount | 80 % home renovation loan for amounts from 35 lakhs to 70 lakhs 75 % home renovation loan for amounts above 75 lakhs |
Note: A moratorium period is a temporary pause that allows you to skip loan repayments for a set time
Eligibility Criteria
| Age | 18 to 65 years |
| Minimum Income | Rs. 20,000 per month for Delhi, Bangalore, Chennai, Mumbai, Pune Rs. 15,000 per month for other cities |
| CIBIL Score | 750+ |
Also Read: Kotak Mahindra vs SBI vs HDFC
Kotak Mahindra Home Loan EMI Calculator
EMI is a fixed monthly amount that you are required to pay to the bank until your home loan is fully repaid.
Calculate your home loan EMI and estimate your monthly repayments. You can adjust loan amounts and tenures, and make well-informed decisions before committing to the bank.
How to Calculate Kotak Mahindra Home Loan EMI?
Home loan EMI is calculated using a mathematical equation:
EMI = [P*r*(1+r)^n]/ [(1+r)^n -1]
Where:
P = Principal (loan amount borrowed)
r = Interest rate
n = Total number of monthly installments (loan tenure in years*12)
Example: Case Study | Home Loan EMI 20 vs 30 Years
Aman, a young professional living in Mumbai, has just found his dream home – a spacious 3BHK apartment near his workplace. He decides to take a home loan from the Kotak Mahindra to finance the purchase.
Before signing the loan agreement, Aman wants a clear picture of how much he’ll need to pay every month. To figure this out, he calculates his EMI using the loan’s details.
Home Loan Amount: ₹50,00,000 (₹50 lakh)
Rate of Interest: 8.35% p.a.
But, he is considering two options:
- A 20-Year Loan (240 months)
- A 30-Year Loan (360 months)
Longer Tenure = Lower EMI = Higher Interest Payments
Let’s apply the EMI formula to both scenarios:
| Home Loan Amount | Interest Rate | Tenure | EMI | Interest Payment | Total Payment | |
|---|---|---|---|---|---|---|
| Scenario 1 | ₹50,00,000 | 8.35% p.a. | 20 years | ₹42,918 | ₹53,00,236 | ₹ 1,03,00,236 |
| Scenario 2 | ₹50,00,000 | 8.35% p.a. | 30 years | ₹37,915 | ₹86,49,548 | ₹ 1,36,49,548 |
Which Option Is Better and Why?
If Your Goal Is Long-Term Savings: Opt for the 20-year loan.
- Although the monthly EMI is higher, your total interest outflow is much lower.
- Over time, you save more than ₹33 lakh in interest compared to the 30-year option.
If Your Goal Is Immediate Affordability: Choose the 30-year loan.
- However, this comes at a significant long-term cost, as you’ll end up paying much more in total interest over the life of the loan.
- You’ll pay a lower EMI each month, easing short-term financial burden.
Get the best Home Loan interest rates tailored for you
If you’re looking to choose the right home loan perfectly made according to your needs, then book a call with our experts here.
Kotak Mahindra Home Loan Eligibility Criteria
Before applying for a home loan, it’s essential to understand the eligibility criteria. Here’s the essential eligibility checklist set by Kotak Mahindra:
| Criteria | Requirements |
|---|---|
| Age | 18-65 years |
| Nationality | Indian/ NRI/ PIO |
| Minimum Income | Rs. 20,000 per month for residents of Delhi, Mumbai, Bangalore, Pune, and Chennai. Rs. 15,000 per month for the residents of other cities. |
Documents Required For Kotak Mahindra Home Loans
When applying for a home loan with the Kotak Mahindra, you will need to provide specific documents that verify your identity, income, and property details. Below is a detailed list:
General Documents
| Category | Documents Required |
|---|---|
| Proof of Identity | PAN Card/ Driver’s License / Voter ID / Passport / Aadhar Card |
| Proof of Address | Driver’s License / Ration Card / Voter ID / Passport / Aadhar Card / Registered Rent Agreement |
Proof of Income
| Salaried | Self Employed |
|---|---|
| 3 months’ salary slips | Latest 3 years income tax returns, personal and business along with computation of income. |
| Form 16 of latest 1 assessment year | Latest 3 years profit and loss accounts and balance sheet with schedules duly certified by a chartered accountant. |
Kotak Mahindra Home Loan Tenure
Home loan tenure refers to the duration over which the borrower agrees to repay the loan amount along with interest. Kotak Mahindra offers flexible tenure options to accommodate varying financial situations and preferences. Here’s an overview:
- Minimum Tenure: 5 years
- Maximum Tenure: 30 years
Read More: How to Reduce Your Home Loan Tenure?
Impact of Home Loan Tenure on EMIs
- EMI: Longer tenure results in lower monthly EMIs; shorter tenure leads to higher EMIs.
- Interest Payments: Extended tenure increases the total interest, while a reduced tenure decreases it.
- Budget: Longer tenure eases monthly budget strain, whereas shorter tenure requires higher income stability
- Cash Flow: Longer tenure frees up cash for other investments, while shorter tenure ties up more funds in EMIs.
How to Choose the Best Kotak Mahindra Home Loan Tenure?
- Assess income, expenses, and job security for consistent repayments.
- Opt for shorter tenures to reduce overall interest costs.
- Choose EMIs that fit comfortably within your budget.
- Calculate total interest to minimize long-term costs.
- Check for prepayment options without heavy penalties.
- Align tenure with long-term financial goals.
- Plan to settle the loan before retirement.
- Factor in potential salary growth for shorter tenures.
- Balance EMI affordability with loan tenure.
How To Apply For a Home Loan From Kotak Mahindra?
- Check Eligibility Criteria: Verify age, income, credit score, and employment status.
- Calculate Loan Amount and EMI: Use Kotak Mahindra’s online calculator to determine affordable loan amounts and monthly installments.
- Gather Required Documents: Collect identity proof, address proof, income statements, and property-related documents.
- Choose Application Method: Apply online through Kotak Mahindra’s website or visit a nearby branch in person.
- Submit the Application: Complete the application form accurately and attach all necessary documents.
- Loan Processing and Verification: The bank reviews your application, verifies documents, and conducts a credit appraisal.
- Property Valuation and Legal Checks: Kotak Mahindra assesses the property’s market value and performs legal due diligence.
- Receive Approval and Sanction Letter: Upon successful verification, you receive a loan approval and sanction letter detailing terms.
- Sign the Agreement: Review and sign the loan agreement, agreeing to the specified terms and conditions.
- Disbursement of Funds: The approved loan amount is transferred to your account or directly to the property seller.
- Complete Post-Disbursement Formalities: Finalize any remaining documentation and set up repayment methods for EMIs.
Read More: Home Loans in Bangalore
Kotak Mahindra Home Loan: Minimum and Maximum Loan Amount
Kotak Mahindra offers home loans that cater to various financial situations. From first-time buyers needing a smaller loan to those looking to invest in premium real estate, knowing the minimum and maximum amounts available can simplify your search.
Home Loan Types | Maximum and Minimum Loan Amount |
|---|---|
| Kotak Mahindra Home Loan | 75% – 90% of the property value |
| Kotak Mahindra Home Loan Balance Transfer | 75% – 90% of the property value |
| Kotak Mahindra NRI Home Loan | 75% – 90% of the property value |
| Kotak Mahindra Home Renovation Loan | 75% – 90% of the property value |
| Kotak Mahindra Home Loan for Women | 75% – 90% of the property value |
Kotak Mahindra Customer Care Contact Details
To facilitate effective communication with customers, in addition, Kotak Mahindra offers various channels for customer support.
| Service | Contact Information |
|---|---|
| Email ID | itsecurity.bank@kotak.com |
| Toll-Free Number | Call on 1860 266 0811 from 09.00 AM to 07.00 PM (Monday to Saturday excluding Bank holidays) |
| Text Message | SMS KPRIVY to 5676788 or 9971056767 (for Privy customers) |
| Official Address | 27 BKC, C 27, G Block, Bandra Kurla Complex, Bandra (E), Mumbai – 400051 |
| Website | www.kotak.com |
Kotak Mahindra Home Loan Centers Near You
Finding the right support when applying for a home loan is crucial to making your homeownership dreams a reality. Kotak Mahindra has multiple home loan centers nationwide to provide you with convenient access to expert advice and personalized services.
Check out the nearest Kotak Mahindra branch using our branch locator tool.
Kotak Mahindra Home Loan Approval and Disbursal
Kotak Mahindra is committed to processing home loan applications with utmost efficiency. Typically, the entire approval process is completed within 15 to 30 working days from the date of application submission.
However, this timeline may vary based on several key factors:
- Completeness of documents
- Property type and location
- Applicant’s financial profile and credit score
Kotak Mahindra Home Loan Disbursement Process
Kotak Mahindra ensures a compliant and efficient home loan disbursement through a three-stage process: Application, Sanction, and Disbursement.
1. Application for Home Loan
Applicants are required to complete the home loan application form, providing necessary personal, income, and property documents and details.
2. Home Loan Sanction
Upon submission, BOI reviews the application and documents. Legal and technical experts assess the property’s compliance and condition.
3. Home Loan Disbursement
After receiving the sanction letter, the borrower is required to complete the down payment and submit final property documents for loan disbursement.
Types of Disbursement
- Full Disbursement: Entire loan amount released if the property is fully constructed
- Partial Disbursement: Loan disbursed in stages based on construction progress for under-construction properties
How to Maximize the Chances of Kotak Mahindra Home Loan Approval?
- Maintain a high credit score
- Showcase strong financial stability
- Reduce existing debt obligations
- Provide complete and accurate documentation
- Pay sufficient down payment
- Choose property in approved locations
- Maintain consistent employment history
- Avoid multiple loan applications simultaneously
- Submit clear and legal property documents
- Ensure proper property valuation
- Keep income tax returns up to date
- Maintain low credit utilization ratio
Home Loan Insurance
Home loan insurance, is a safety net designed to protect both borrowers and lenders during the home loan tenure. It ensures that in unforeseen circumstances such as critical illness, disability, or death, the borrower’s family is not burdened with repaying the loan, while providing lenders with financial security against default. By covering the outstanding loan amount in such situations, home loan insurance offers peace of mind and financial stability, allowing borrowers to secure their homes and focus on enjoying them without undue worry.
Check Out : Home Loan Insurance Calculator
Is Home Loan Insurance Mandatory?
Although not legally mandated, Kotak Mahindra makes it mandatory for its customers to obtain a home loan insurance.
Benefits of Opting a Home Loan Insurance Premium
- Financial Security: Ensures loan repayment during unforeseen events.
- Comprehensive Protection: Covers critical illness, accidents, and death.
- Joint Borrower Coverage: Protects both borrowers under one policy.
- Reduced Financial Stress: Lessens financial burden on dependents.
- Tax Benefits: Possible tax deductions on premium payments.
- Peace of Mind: Guarantees loan liability coverage in emergencies.
Kotak Mahindra Home Loan Tax Benefits
Home loans offer significant tax benefits under the Income Tax Act, 1961. These benefits apply to both the principal amount and interest paid, making home loans more cost-effective.
| Section | Deduction Type | Maximum Deduction Amount | Conditions |
|---|---|---|---|
| 80C | Principal Repayment of Home Loan | ₹1.5 Lakh per annum | The house property must not be sold within five years of possession. |
| 80C | Payment of Stamp Duty | ₹1.5 Lakh per annum | These expenses can only be claimed in the year they are incurred. |
| 24b | Interest Payment on Home Loan | ₹2 Lakh per annum | The loan must be taken for purchasing or constructing a house. If constructing a house, the construction must be completed within five years from the end of the financial year in which the loan was taken. If the property is let out (rented), there is no cap on the interest deduction under Section 24(b). This allows property owners renting out their property to claim full interest payments as a deduction. |
Note: Section 80C also covers other investments like Public Provident Fund (PPF), Equity-Linked Savings Scheme (ELSS), and more, up to a combined total limit of ₹1.5 lakh.
1. Section 24B – Deduction on Home Loan Interest
What It Is:
- Allows you to claim a deduction on the interest paid on your home loan.
Benefits:
- Self-Occupied Property: Deduct up to ₹2 lakh per year on interest payments.
- Rented Property: No upper limit on the interest amount you can claim.
Example
| Category | Amount |
|---|---|
| Loan Amount | Rs. 70,00,000 |
| Interest Payable Per Year | Rs. 4 Lakhs |
| Tax Deduction | Rs. 2 Lakhs/ Year |
| Tax Bracket | 30% |
| Tax Benefits per Year | Rs. 66,000 |
2. Section 80C – Deduction on Principal Repayment
What It Is:
- Allows deduction on the principal portion of your home loan repayments, up to ₹1.5 lakh per year.
Benefits:
- Reduces your taxable income by the principal amount repaid.
- Also includes stamp duty and registration charges (one-time claim in the year incurred).
Example
| Category | Amount |
|---|---|
| Loan Amount | Rs. 75,00,000 |
| Principal Payable Per Year | Rs. 3.5 Lakhs |
| Tax Deduction | Rs. 1.5 Lakhs per Year |
| Tax Bracket | 30% |
| Tax Benefits per Year | 50,000 |
Total Tax Benefits (Section 24B + Section 80C = Rs. 1.16 Lakhs/ Year
3. Joint Home Loans – Double the Benefits
What It Is:
- When two or more people take a joint home loan and are co-owners of the property.
Benefits:
- Section 24B: Each co-borrower can claim up to ₹2 lakh on interest.
- Section 80C: Each can claim up to ₹1.5 lakh on principal repayment.
- Total Tax Savings: Potentially ₹1.05 lakh per person per year (at 30% tax rate).
Who is Eligible to be a Co-Applicant?
- Father/ Mother
- Unmarried Daughter
- Siblings
- Husband/ Wife
(Minors cannot be considered as co-applicants for a Home Loan)
Example
| Category | Co Applicant 1 | Co Applicant 2 |
|---|---|---|
| Tax Deduction under 24B | Rs. 2 Lakhs/ Year | Rs. 2 Lakhs/ Year |
| Tax Deduction under 80C | Rs. 1.5 Lakhs/ Year | Rs. 1.5 Lakhs/ Year |
| Tax Deductions/ Year | Rs. 3.5 Lakhs/ Year | Rs. 3.5 Lakhs/ Year |
| Tax Bracket | 30% | 30% |
| Tax Benefits | Rs. 1.16 Lakhs/ Year | Rs. 1.16 Lakhs/ Year |
When you opt for a co-applicant on your home loan, the savings can be substantial due to the ability to claim tax deductions separately. For example, with a co-applicant, the total tax savings can amount to ₹2.32 lakhs annually. Here’s how it works:
- EMI Paid per Year: ₹60,000 x 12 = ₹7,20,000
- Money Saved through Tax Deductions: ₹2,32,000
- Net Money Paid after Deductions: ₹7,20,000 – ₹2,32,000 = ₹4.88 lakhs
By utilising this tax benefit, you effectively lower your financial outflow, paying only ₹4.88 lakhs per year instead of the full ₹7.20 lakhs.
Read More: Stamp Duty and Registration Charges in Bihar
Why Should You Choose Kotak Mahindra For Your Home Loan?
- Hassle-Free Application: Enjoy a seamless home loan application process with doorstep document pick-up and no need for branch visits.
- Customized Repayment Options: For under-construction properties, pay only part of your EMIs initially with tailored repayment plans.
- External Benchmark Linked Loans: Link your home loan interest rate to an external benchmark, such as the Repo Rate.
- Disbursal in 48 Hours*: Expect loan disbursal within 48 hours after completing application and documentation verification.
- Easy and simple online account management
How Credit Dharma Simplifies The Home Loan Journey?
Buying a home is a big step. Getting a home loan can be hard, but we make it easy. At Credit Dharma, we make this possible by offering lowest guaranteed interest rates that keep your monthly payments manageable, allowing you to enjoy more of what truly matters.
But that is not it. We offer:
- Guaranteed up to 100% funding
- Receive lifetime assistance and expert guidance long after your loan is approved.
- Enjoy a fully digital process with minimal paperwork
- Get your loan approved within just 1-2 weeks.
The maximum tenure for the home loan is 20-30 years (but the tenure of the loan can also change based on the scheme.)
Offers both fixed and floating interest rate options for home loans. With a fixed rate, the interest remains constant throughout the loan tenure, while with a floating rate, it fluctuates with the market condition.
Kotak determines the interest rate based on factors like the loan amount, loan tenure, CIBIL Score, and the type of interest rate (fixed or floating) chosen by the borrower.
Kotak determines the interest rate based on factors like the loan amount, loan tenure, CIBIL Score, and the type of interest rate (fixed or floating) chosen by the borrower.