Kotak Mahindra Bank is one of the leading private sector banks in India, which is a preferred choice of customers when it comes to availing Loan Against Property. The financial needs and easy cash can be availed easily with Kotak Mahindra’s Mortgage Loan. It is the best bank for Property Loan in India.
Why Loan Against Property from Kotak Mahindra Bank?
Apply for Mortgage Loan online with the best and effective interest rates in India from Kotak Mahindra Bank. You can avail a loan by pledging your property as a mortgage with the bank. Mortgage Loan can be availed against the residential, commercial and industrial property. The bank offers loan at the best competitive rates and quick turnaround time with easy documentation.
| TYPES OF FEES | CHARGES APPLICABLE |
|---|---|
| Interest Rate | 10% to 12% |
| Processing Fees | Up to 2% of loan amount |
| Loan Tenure | Up to 15 years |
| Loan to Value (LTV) | Up to 60% of property value |
| Foreclosure Charge | 4% of the outstanding loan amount after the completion of lock-in-period of 6 months |
Kotak Mahindra Bank provides its customers with numerous advantages to choose from for availing Mortgage Loan:
Loan application is approved instantly if you are eligible for applying the loan and you meet all the necessary Loan requirements. So apply online for Mortgage loan if you meet the basic requirements. Below mentioned are mortgage loan eligibility conditions:
| Eligibility Condition | Facts for self-employed professional and non-professionals |
|---|---|
| Minimum Age | 21 years |
| Maximum Age | 65 years for salaried and 70 years for self-employed |
| Cash Profits | Profits for the last 2 years |
| Business Stability and existence | Minimum 3 years |
| Property Documents | Complete property documents to be shown |
| Other Documents | Application form Along with 2 Passport Size Photos signed across |
Before applying for Property Loan online please check you complete with the required documents.
| Type of Documents | Details |
|---|---|
| Loan Application Form | Duly filled loan application form |
| Photograph | 2 Photographs |
| Identity Proof | Aadhar Card, Voter ID, Passport/PAN Card/ Driving License |
| Residential Address Proof | Registered rent agreement/passport/ utility bill (up to 3 months old)/ leave and license |
| Income Tax Return | Income Tax Returns for last 2 years duly certified by CA Bank statement/ copy of passbook of last 6 months |
| Business Statements | Balance sheet and P&L statement for the last 3 years including schedules and Annexures |
| Property related documents | Title deed including the previous chain of property documents Proof of any other claim on property |
One can Apply online or Book your Appointment for Property loan through our website with few simple steps by registering online:
A. A co-applicant for loan against property is mandatory only when the property being mortgaged is owned by more than one person. In such as case, all co-owners of the property mandatorily become co-applicants.
A. The Loan against property eligibility criteria vary from one bank to another. However, the common factors that all banks consider are:
A. Yes. You can use the loan obtained by mortgaging your property for business activities as well as for any personal financial distress you might be facing.
A. Yes, it is one of the most important factors.
