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Kotak Home Loan Eligibility Calculator

Home Loan Eligibility Calculator Kotak Bank 2021

Last Updated 22nd Nov 2021

Eligibility CriteriaKotak Bank Home Loan
Eligible Age of Borrower21 - 60 years
Home Loan Eligibility Calculator

What is Kotak Home Loan Eligibility?

Kotak offers various home loan schemes and offers at affordable rates to eligible customers whether salaried or self-employed. Kotak home loan eligibility is defined as a set of parameters that determines the creditworthiness of the borrowers based on factors like age, salary, occupation, property type and credit score. You can get details about the eligibility for a Kotak home loan using the Kotak home loan eligibility calculator. It is an online tool that uses mathematical algorithms to check if you are eligible for a home loan or not. In addition, you can know about the amount that you are eligible for.

How is Home Loan Eligibility Calculated by Kotak?

Kotak Housing loan eligibility is primarily dependent on income and repayment capacity. Other factors that may impact the eligibility of home loans are age, financial position, credit history, credit score, other financial obligations etc.

Kotak Home Loan Eligibility Based on Age

  • Age: Your age plays an important role in determining your eligibility and repayment capacity for home loan. Lower your age, higher will be the time period available to repay the loan, and hence higher home loan amount eligibility. The minimum Kotak Bank home loan age limit to get a Kotak Bank home loan is 21 years at the time of loan commencement and maximum age limit is 60 years. Kotak Bank offers home loans for a maximum period of 30 Years subject to the condition that the borrower’s age at the end of the tenure must not exceed 60 of tenure.

Kotak Home Loan Eligibility Based on Salary

  • Net income: Your net monthly income determines how much Kotak Bank home loan EMI you are capable of paying after meeting all the living expenses based on your standard of living. For instance, if your salary is ₹ 25,000 then at an interest rate of 6.70% offered by Kotak Bank, the loan amount that you will be eligible for would be ₹ 28,55,824 to ₹ 43,41,903 depending on your age. Similarly, if your salary is ₹ 75,000, you might get eligible for a loan amount of ₹ 57,11,647 to ₹ 86,83,806 for the same property at the same rate depending on your age at the time of loan application. However, Kotak Bank asks for a net monthly income of ₹ 0 to avail a home loan.
Age Net Monthly Income (₹)
25,000 50,000 75,000
25 years43.42 Lakh65.13 Lakh86.84 Lakh
30 years43.42 Lakh65.13 Lakh86.84 Lakh
35 years43.42 Lakh65.13 Lakh86.84 Lakh
40 years43.42 Lakh65.13 Lakh86.84 Lakh
45 years37.19 Lakh55.79 Lakh74.38 Lakh
50 years28.56 Lakh42.84 Lakh57.12 Lakh

You may consider repaying any loans with short tenure and high EMI to increase your Kotak Bank home loan eligibility.

  • Nature of employment: Kotak Bank will check whether you are salaried or self-employed and the company and sector in which you are working. It also looks at your years of experience to check for job and income stability. Kotak Bank requires minimum income history and job stability of more than 0 years for salaried individuals and of 0 years for self-employed individuals.

Home Loan Eligibility Kotak Bank based on Value of Property

  • Value of property: Kotak Bank does not finance the entire property value. The maximum home loan eligibility would depend upon the value of the property as shown below:
Property Value LTV
Less than 30 Lakh90%
Between 30 Lakh and 75 Lakh80%
Above 75 Lakh75%
  • Property documents: Your property’s legal documents should be satisfactory and be cleared by the Kotak Bank's legal team.

The housing loan eligibility calculator of Kotak Bank can be a useful tool to assess your eligibility for the loan.

Kotak Housing Loan Eligibility Calculator based on FOIR

FOIR (Fixed Obligation to Income Ratio) is an important parameter used by Kotak Bank to determine your home loan eligibility. Kotak Bank considers all your fixed obligations like current EMIs into account while estimating your eligibility. The minimum FOIR required to be eligible for an Kotak Bank home loan is 0.65. Calculate your eligibility with the Kotak Bank home loan calculator and apply for the eligible loan amount hassle-free.

Kotak Bank Home Loan Eligibility for Women

Kotak Bank offers the same rates to women borrowers starting at 6.70% with similar eligibility criteria for home loan. In the case of a joint home loan, the woman borrower also needs to be the co-owner of the property and should have a good credit history to get the joint home loan application passed for concessional rates.

Minimum CIBIL Score for Kotak Home Loan

Kotak considers credit score as a barometer to gauge your past credit behaviour, and hence, CIBIL score becomes the most important factor in defining your eligibility to get a home loan. A higher credit score increases your chances to get loan approval from Kotak. However, a low CIBIL score reduces your chances to get a home loan. Kotak requires a minimum credit score of 650 to be eligible for a home loan.

How to Enhance Kotak Home Loan Eligibility?

You can enhance the Kotak home loan eligibility using the tips mentioned below:

  • Add an earning family member as a co-applicant.
  • Ensure a steady income flow, regular savings and investments.
  • Provide details of your regular additional income sources.
  • Track your variable salary components.
  • Take actions to rectify errors (if any) in your credit score.
  • Repaying ongoing loans and short term debts.

How to Use Kotak’s Home Loan Eligibility Calculator?

To check Kotak Bank home loan eligibility perform the following steps:-

  • Go to the Kotak Bank website
  • Now navigate to the option Kotak Bank home loan
  • To check eligibility criteria use a home loan eligibility calculator.
  • Fill the required details like loan amount required, salary, age etc.

Also, you can contact the bank by calling on their customer care number 1860-266-2666 .


What is the criteria to get Kotak Bank home loan?

The basic criteria to get a home loan from Kotak Bank are as following:

Age21 - 60 years
Income ₹ 0
Income3 years for salaried, 5 years for self-employed
Credit score650 and above

How much home loan can I get on my salary from Kotak Bank?

The amount for which you are eligible is calculated based on the FOIR and LTV. The higher your income, and the least is your fixed obligations (mostly ongoing EMIs), the higher will be your eligibility for a home loan.

What is the minimum salary to get home loan from Kotak Bank?

The minimum salary required to avail home loan from Kotak Bank is ₹ 0.for salaried borrowers. The income criteria for self employed professionals or businessmen may vary in Kotak Bank.

Is Kotak Bank good for home loan?

The lowest interest rate provided by Kotak Bank is 6.55% which is a best rate in the market. There are no prepayment charges on floating rate based home loan. Hence, you can consider this as a good option for housing loan.

Does adding a co-applicant increase housing loan eligibility?

Yes, adding a co-applicant with an independent income source increases housing loan eligibility significantly. By doing so you will be able to get a higher loan amount and also both of you can save on taxes under Income Tax Act.

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Kotak Home Loan News - Dec 2021
  • 2021-11-08 : Kotak Bank Revises Home Loan Rates
    Kotak Mahindra Bank has increased home loan rates from 6.50% to 6.55%. The new rates are valid from November 9, 2021, to December 10, 2021.
  • 2021-09-10 : Kotak Mahindra Bank Cuts Home Loan Interest Rate
    Kotak Mahindra Bank has reduced the home loan interest rate by 15 basis points (bps), ahead of the festive season. Currently, the minimum rate of interest is 6.50%, the special rate is applicable from 10 September 2021 to November 8, 2021.
  • 2021-08-30 : Kotak Mahindra Bank offers home loans at the lowest rate
    Kotak Mahindra Bank is offering a home loan at the lowest interest rate of 6.60%. The bank charges 0.5% of the loan amount as processing fees from salaried. For self-employed, the processing fee is 1.00% of the loan amount.
  • 2021-07-09 : Kotak Bank Q1 Net Profit seen up 25.6% YoY to Rs. 1,563.4 crores
    Motilal Oswal has come out with its first-quarter earnings estimates for the Banks and Insurance sector. The brokerage house expects Kotak Bank to report a net profit of Rs. 1,563.4 crore up 25.6% year-on-year on all products combined including Personal Loan, Home Loan, Loan Against Property, Business Loan, Gold Loan, and Car Loan. Net Interest Income (NII) is expected to increase by 7.7% Y-o-Y to Rs. 4,011.9 crores.
  • 2021-04-13 : Kotak Mahindra Bank kept its home loan rate unchanged at 6.65%
    Even as some of the banks have hiked their home loan interest rate, Kotak Mahindra Bank has kept the home loan rate unchanged at 6.65%. The interest rate is applicable for both the home loan and balance transfer product. The bank is aiming to increase its share in the housing loan market.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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