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Kotak Home Loan Calculator

Kotak Bank Housing Loan EMI Calculator

Last Updated 22nd Nov 2021

  • Kotak Bank home loan EMI per ₹ 1 Lakh is ₹ 749, which is one of the lowest EMI offered by banks. Check Best Offers
  • Housing loan EMI in Kotak Bank is calculated based on loan amount, loan tenure and interest rate.
  • It is better to calculate your EMI for Kotak Bank home loan before applying. Use an online Kotak Bank loan EMI calculator to estimate your EMI.
  • Check Kotak Bank home loan EMI for different tenures at the current Kotak Bank home loan interest rate of 6.55%
  • Loan Amount10 Year Loan15 Year loan20 Year loan
    ₹ 10 Lakh₹ 11,380₹ 8,739₹ 7,485
    ₹ 20 Lakh₹ 22,761₹ 17,477₹ 14,970
    ₹ 30 Lakh₹ 34,141₹ 26,216₹ 22,456
    ₹ 50 Lakh₹ 56,901₹ 43,693₹ 37,426

    Jump to EMI Calculator

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Kotak Home Loan EMI Calculator Online

Kotak Bank Home Loan EMI is the fixed amount that you need to pay on a fixed date of the month till the end of repayment tenure. The amount is based on your loan amount, tenure and interest rate. You can calculate your Kotak Bank housing loan EMI in advance to plan your loan payments and expenses using a Kotak Bank home loan calculator. Kotak Bank home loan EMI calculator is an online tool that functions on a mathematical algorithm and gives accurate results without hassle.

Why should you use Kotak Bank Home Loan EMI Calculator?

  • Calculate the EMI at Different Tenures: Kotak Bank offers the lowest EMI per lakh at . To get the lowest EMI on your home loan, you can compare the EMIs with a different loan amount and tenure. However, it is advisable to check with the bank to know the interest rate you will be eligible for Kotak Bank home loan.
  • Compare Kotak Bank Home Loan EMI: With Kotak Bank home loan EMI Calculator, you can also estimate EMI on your home loan from Kotak Bank with other leading banks in India at the same loan amount and tenure at varying interest rates.
  • Get Detailed Amortisation Schedule: You can calculate the division of total EMIs into interest and principal repayment on your loan at different periods throughout the loan tenure.
  • Calculate the Outstanding Balance: Finally, you can also calculate the remaining loan tenure for the outstanding balance at any period of the loan tenure. If you want to reduce your home loan tenure, you can always consider a home loan balance transfer because other banks may allow you to pay your home loan at low rates.

Kotak Bank Home Loan EMI Calculator to estimate the EMI that fits your budget

To calculate your home loan EMI at different rates and tenure, enter different loan amounts and tenure at the eligible interest rate on Kotak Bank Home Loan EMI calculator. The below-mentioned table shows the calculation of Kotak Bank Home Loan at the various combinations of loan amount and years at the lowest rate of 6.55%. Considering this example, if you think you can afford to pay an EMI of in your budget, take an loan for 15 years or loan for 30 years, maybe the right Kotak Bank Home loan plan for you.

Kotak Bank home loan EMI is calculated for different loan amounts and tenures at 6.55% interest rate
Loan Tenure
Loan Amount (Rs.) 15 years20 years30 years
₹ 25 Lakh ₹ 21,846 ₹ 18,713 ₹ 15,884
₹ 50 Lakh ₹ 43,693 ₹ 37,426 ₹ 31,768
₹ 75 Lakh ₹ 65,539 ₹ 56,139 ₹ 47,652
₹ 1 Cr ₹ 87,386 ₹ 74,852 ₹ 63,536

Benefits of using Kotak Bank Home Loan EMI Calculator

Kotak Bank Home Loan Calculator is online and gives instant results with 100% accuracy. The best part is that you can calculate and compare multiple EMIs on different combinations of loan amount, interest rate and tenure. Thus, using Kotak Bank Home Loan EMI Calculator helps you to choose the right amount of EMI that is affordable and also decide on the right loan amount and loan tenure. Further, if you use the MyLoanCare Kotak Bank Home Loan Calculator, you have the option to receive calculated EMIs and amortization schedules for each calculation by mail which can be referred to at a later stage when you are making the final decision to take a loan.

Factors Affecting Kotak Bank Home Loan EMI

Home Loan EMI can be calculated using an online Home Loan Calculator which takes into account factors such as loan amount, rate of interest and the tenure for which you are planning to avail the loan.

Loan Amount

If you apply for a higher loan amount, you will have to pay a higher EMI Kotak Bank gives a minimum home loan of ₹ 15,00,000 upto a maximum amount of ₹ 5,00,00,000.

Interest Rate

Higher interest rate increases your Kotak Bank housing loan EMI which will increase the total cost of the loan. Kotak Bank current home loan interest rate starts at 6.55%. Do a complete market research and compare rates and calculate EMI online using Kotak Bank home loan calculator before you apply for a home loan.

Loan Tenure

This is the period in which you can repay your home loan in Kotak Bank. Your EMI will be lower if you take a 0 years loan from Kotak Bank as compared to a loan taken for 5 years. For a longer period, you get to pay a smaller EMI and vice-versa.

Kotak Home Loan EMI Calculator Formula

Kotak Home Loan Calculator calculates EMI based on the following formula.

P*r* (1+r)^n/([(1+r)^n]-1)

Here is an illustration of how Kotak Bank Home Loan EMI calculator formulates EMI:

In above formula,

  • P = Loan amount. Kotak Bank home loan amount can range from ₹ 15,00,000 to ₹ 5,00,00,000
  • r = Rate of interest per month. Current Kotak Bank housing loan rate 6.55%.
  • n = tenure in month. For Kotak Bank, maximum home loan tenure is 360 months

Comparison of Kotak Bank Home Loan EMI with other Banks

Bank Name Interest rate Loan Amount of ₹ 10 Lakh Loan Amount of ₹ 30 Lakh Loan Amount of ₹ 50 Lakh
Kotak Bank 6.55% ₹ 6,354 ₹ 19,061 ₹ 31,768
HDFC 6.70% ₹ 6,453 ₹ 19,358 ₹ 32,264
ICICI Bank 6.70% ₹ 6,453 ₹ 19,358 ₹ 32,264
SBI 6.65% ₹ 6,420 ₹ 19,259 ₹ 32,098
LIC Housing Finance 6.66% ₹ 6,426 ₹ 19,279 ₹ 32,131
Axis Bank 6.65% ₹ 6,420 ₹ 19,259 ₹ 32,098

Kotak Bank Home Loan Amortization Calculator

Kotak Bank Home Loan amortization schedule gives a break up of your monthly EMI into interest and principal repayment. Kotak Bank gives you a detailed amortisation schedule with the sanction letter and you can calculate the total interest outgo as well as the pace at which your loan amount will be repaid during the loan tenure.

How to read an amortization schedule

Suppose if you take a Home Loan of ₹ 30 Lakh for 15 years from Kotak Bank at an interest rate of 6.55%. EMI calculated for this loan amount is ₹ 26,216 and the total annual EMIs to be paid annually is ₹ 3,14,589. The EMI schedule of loan for 15 years is explained below in the table –

Amortization Schedule for a Home Loan of ₹ 30 Lakh over the 15 years

Year Interest paid during the year Principal repaid during the year Total amount paid during the year (Interest + Principal) Outstanding Principal
2021 ₹ 16,375 ₹ 9,841 ₹ 26,216 ₹ 29,90,159
2022 ₹ 1,92,225 ₹ 1,22,364 ₹ 3,14,589 ₹ 28,67,796
2023 ₹ 1,83,965 ₹ 1,30,624 ₹ 3,14,589 ₹ 27,37,172
2024 ₹ 1,75,148 ₹ 1,39,441 ₹ 3,14,589 ₹ 25,97,731
2025 ₹ 1,65,735 ₹ 1,48,854 ₹ 3,14,589 ₹ 24,48,877
2026 ₹ 1,55,687 ₹ 1,58,902 ₹ 3,14,589 ₹ 22,89,976
2027 ₹ 1,44,961 ₹ 1,69,628 ₹ 3,14,589 ₹ 21,20,348
2028 ₹ 1,33,511 ₹ 1,81,078 ₹ 3,14,589 ₹ 19,39,269
2029 ₹ 1,21,288 ₹ 1,93,302 ₹ 3,14,589 ₹ 17,45,968
2030 ₹ 1,08,239 ₹ 2,06,350 ₹ 3,14,589 ₹ 15,39,618
2031 ₹ 94,310 ₹ 2,20,279 ₹ 3,14,589 ₹ 13,19,339
2032 ₹ 79,441 ₹ 2,35,148 ₹ 3,14,589 ₹ 10,84,190
2033 ₹ 63,567 ₹ 2,51,022 ₹ 3,14,589 ₹ 8,33,169
2034 ₹ 46,623 ₹ 2,67,966 ₹ 3,14,589 ₹ 5,65,203
2035 ₹ 28,534 ₹ 2,86,055 ₹ 3,14,589 ₹ 2,79,148
2036 ₹ 9,225 ₹ 2,79,148 ₹ 2,88,373 ₹ 0

In the above illustration, on a Kotak Bank Home Loan of₹ 30 Lakh, taken at the lowest interest rate of 6.55, EMI paid is ₹ 26,216 and an annual total of EMIs is ₹ 3,14,589, the interest component is ₹ 1,92,890 while the principal component is ₹ 1,21,699 in year 1 of loan disbursement. You repay only 4.06% of the total principal after paying 12 EMIs during the first year.

Kotak Bank Home Loan EMI for ₹ 10 Lakh

The following table shows Kotak Bank Housing Loan EMI for ₹ 10,00,000 for different tenures at an interest rate of 6.55%

Loan Amount Interest rate Tenure (Year) EMI
₹ 10,00,000 6.55% 5 Years ₹ 19,590
₹ 10,00,000 6.55% 10 Years ₹ 11,380
₹ 10,00,000 6.55% 15 Years ₹ 8,739
₹ 10,00,000 6.55% 20 Years ₹ 7,485
₹ 10,00,000 6.55% 0 Years

Kotak Bank Home Loan EMI for ₹ 20 Lakh

The following table shows Kotak Bank Housing Loan EMI for ₹ 20,00,000 for different tenures at an interest rate of 6.55%

Loan Amount Interest rate Tenure (Year) EMI
₹ 20,00,000 6.55% 5 Years ₹ 39,179
₹ 20,00,000 6.55% 10 Years ₹ 22,761
₹ 20,00,000 6.55% 15 Years ₹ 17,477
₹ 20,00,000 6.55% 20 Years ₹ 14,970
₹ 20,00,000 6.55% 0 Years

Kotak Bank Home Loan EMI for ₹ 30 Lakh

The following table shows Kotak Bank Housing Loan EMI for ₹ 30,00,000 for different tenures at an interest rate of 6.55%

Loan Amount Interest rate Tenure (Year) EMI
₹ 30,00,000 6.55% 5 Years ₹ 58,769
₹ 30,00,000 6.55% 10 Years ₹ 34,141
₹ 30,00,000 6.55% 15 Years ₹ 26,216
₹ 30,00,000 6.55% 20 Years ₹ 22,456
₹ 30,00,000 6.55% 0 Years

Kotak Bank Home Loan EMI for ₹ 50 Lakh

The following table shows Kotak Bank Housing Loan EMI for ₹ 50,00,000 for different tenures at an interest rate of 6.55%

Loan Amount Interest rate Tenure (Year) EMI
₹ 50,00,000 6.55% 5 Years ₹ 97,948
₹ 50,00,000 6.55% 10 Years ₹ 56,901
₹ 50,00,000 6.55% 15 Years ₹ 43,693
₹ 50,00,000 6.55% 20 Years ₹ 37,426
₹ 50,00,000 6.55% 0 Years

Other Loan Calculators Offered by MyLoanCare

FAQs

Will the Kotak Bank home loan EMI remain constant or change in future?

No, your Kotak Bank Home Loan EMI can change if you have taken a floating rate loan and there is a change in the repo rate to which the home loan rate has been benchmarked. However, if it is a fixed rate loan, the Kotak Bank Home Loan EMI will remain unchanged throughout the loan tenure unless you request for a change in tenure or prepay your loan amount.

What happens in case of increase or decrease in Kotak Bank interest rate?

Kotak Bank offers floating rate home loans only. If you take a floating rate loan from Kotak Bank, your interest rate and hence EMI will decrease with a cut in the repo rate and increase with an increase in repo rate on the date of reset. This means that your Kotak Bank home loan EMI can keep fluctuating during the loan tenure depending on the changes in interest rates.

Will Kotak Bank home loan EMI change in case of prepayment?

Kotak Bank allows prepayment at nil charges in case of floating rate home loans. When you make a prepayment, the outstanding balance of the principal amount on your Kotak Bank home loan reduces. In this case, you may choose to either keep the EMI same and reduce the loan tenure (that is paying off the loan faster) or reduce the EMI and keep the loan tenure the same (that is paying a lesser amount every month). It is beneficial to keep the Kotak Bank home loan EMI constant and reduce the loan tenure as you pay less interest to the bank in this option. After prepayment, you can calculate your home loan EMI using Kotak Bank home loan calculator.

Why should I calculate Kotak Bank loan EMI before taking a loan?

It is advised to calculate Kotak Bank home loan EMI before taking a home loan. There are several benefits of calculating your Kotak Bank housing loan EMI which can be done using Kotak Bank loan calculator Kotak Bank housing loan EMI calculator as discussed below -

  • In case EMI comes out to be more than your monthly budget, then you have the chance to apply for a lower loan amount which fits your monthly budget and make Kotak Bank EMI affordable.
  • If you already know the EMI you have to pay each month, then you can plan your spends accordingly
  • Based on the EMI amount, you can opt for making a prepayment of your home loan in the future when you have a surplus amount. You can calculate the aftermaths of prepayment using home loan emi calculator Kotak Bank.

What is the EMI for home loan in Kotak Bank?

The Kotak Bank EMI will vary based on loan amount, tenure, rate of interest and can be calculated using Kotak Bank home loan calculator. Based on the lowest rate of 6.55% and maximum tenure of 20 years, the Kotak Bank home loan EMI for different loan amount will be:

Loan amount EMI
₹ 10 Lakh ₹ 7,485
₹ 12 Lakh ₹ 8,982
₹ 15 Lakh ₹ 11,228
₹ 30 Lakh ₹ 22,456
₹ 50 Lakh ₹ 37,426

You can compare Kotak Bank home loan EMI for different loan amounts and tenure and then choose the loan amount based on your repayment capacity.

How accurate is a Kotak Bank Housing Loan EMI calculator?

Online Kotak Bank housing loan calculators use technology to calculate the results and hence, if the data entered by you is correct the results should be 100% accurate.The calculator works on a mathematical algorithm based on the formula: P*r* (1+r)^n/([(1+r)^n]-1). Here, P is the loan amount, r is the rate of interest per month and n is the tenure in month. The Kotak Bank home loan emi calculator is far better than manual calculations , as chances of error are less.

How to pay your Kotak Bank Home loan EMI Online?

To pay the EMI of Kotak Bank home loan, you can log in to your net banking account as provided during the time of availing the loan and pay using your savings account or debit/credit card. You can also visit the branch and submit the cheque of your EMI.

How is Kotak Bank home loan EMI calculated?

The Kotak Bank Home loan EMI calculation formula is as follows:
E = [P x R x (1+R)^N]/[(1+R)^N-1] where
‘E’ means Equated monthly instalments
‘P’ means the principal amount
‘N’ is the number of monthly instalments
‘R’ is the interest rate per month.

What is the EMI for ₹ 10 Lakh home loan in Kotak Bank?

You can use a 10 lakh home loan emi calculator Kotak Bank, to determine different EMI for different tenures. Let`s understand with examples:-

Loan amount Interest rate Tenure EMI
₹ 10 Lakh 6.55% 10 years loan ₹ 11,380
₹ 10 Lakh 6.55% 15 years loan ₹ 8,739
₹ 10 Lakh 6.55% 20 years loan ₹ 7,485

What is the EMI for ₹ 20 Lakh home loan in Kotak Bank?

You can use a 20 lakh home loanemi calculator Kotak Bank, to determine different EMI for different tenures. Let`s understand with examples:-

Loan amount Interest rate Tenure EMI
₹ 20 Lakh 6.55% 10 years loan ₹ 22,761
₹ 20 Lakh 6.55% 15 years loan ₹ 17,477
₹ 20 Lakh 6.55% 20 years loan ₹ 14,970

What is the EMI for ₹ 30 Lakh home loan in Kotak Bank?

You can use a 30 lakh home loan emi calculator Kotak Bank, to determine different EMI for different tenures. Let`s understand with examples:-

Loan amount Interest rate Tenure EMI
₹ 30 Lakh 6.55% 10 years loan ₹ 34,141
₹ 30 Lakh 6.55% 15 years loan ₹ 26,216
₹ 30 Lakh 6.55% 20 years loan ₹ 22,456

What is the EMI for ₹ 50 Lakh home loan in Kotak Bank?

You can use a 50 lakh home loan emi calculator Kotak Bank, to determine different EMI for different tenures. Let`s understand with examples:-

Loan amount Interest rate Tenure EMI
₹ 50 Lakh 6.55% 10 years loan ₹ 56,901
₹ 50 Lakh 6.55% 15 years loan ₹ 43,693
₹ 50 Lakh 6.55% 20 years loan ₹ 37,426

What is the EMI for a 25 lakhs home loan in Kotak Bank and how is it calculated?

EMI for ₹ 25 lakhs will be as follows for three different tenure, as per 25 lakh home loan emi calculator Kotak Bank:--

Loan amount Interest rate Tenure EMI
₹ 25 Lakh 6.55% 10 years loan ₹ 28,451
₹ 25 Lakh 6.55% 15 years loan ₹ 21,846
₹ 25 Lakh 6.55% 20 years loan ₹ 18,713

What is the EMI for 12 lakhs home loan in Kotak Bank?

A borrower will pay ₹ 12,055 if he/she takes a loan for 12 years at an interest rate of 6.55%. The 12 lakh home loan emi Kotak Bank may vary across Kotak Bank home loan interest rate.

Compare Home Loan EMI of All Banks


Kotak Bank Home Loan Reviews 4.7/5  by 3 customers
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Amit, Pune
Reviewed on 27th Jan 2021
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Kotak Bank Home Loan Availed in Jan 2021

Excellent support by MyLoanCare team. I was able to get loan in short time at very good interest ratRead more...

Rakesh G, Bangalore
Reviewed on 04th Mar 2020
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Kotak Bank Home Loan Availed in Feb 2020

Great service from Balram from the beginning to the end. It took a long time for this to happen but Read more...

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Kotak Bank Home Loan Availed in Dec 2019

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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.
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