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Kotak Home Loan Interest Rates 2022

Kotak Bank Housing Loan Interest Rate -Today

Last Updated 19th Jan 2022

Loan AmountKotak Bank Repo Rate Home Loan Rate
Upto ₹ 30 Lakh6.55%
₹ 30 Lakh - ₹ 75 Lakh6.55%
₹ 75 Lakh - ₹ 2 Cr6.55%
Above ₹ 2 Cr6.55%
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Kotak Bank Home Loan Rate

Kotak Bank offers home loans to both salaried individuals and self-employed at a minimum rate starting at 6.55% up to 7.20%. Apart from the interest rate, the bank also has various other charges such as Kotak Bank processing fee - that is charged over and above the loan amount, is non-refundable and has to be paid at the time of loan application and foreclosure and prepayment fee for closing or prepaying the loan before the loan tenure ends.

Kotak Bank Home Loan Processing Fee and Other Charges

Kotak Bank charges the maximum processing fees at ₹ 10,000 on home loan which is typically non-refundable and has to be paid at the time of loan application. In addition to processing fees, the bank also charges certain technical and legal charges which are explained to the customer during the loan process and are payable once the loan application proceeds further.

Processing Fees maximum fee of ₹ 10,000
Part Prepayment Charges Allowed
Foreclosure Charges Nil for floating rate home loans

Interest rates on Kotak Home Loans Schemes

Kotak Bank offers a housing loan interest rate at 6.55%. If you want to avail of the home loan at the lowest rates, you should have a good CIBIL score, debt-income ratio and repayment capacity. In addition, Kotak Bank home loan interest rates are lower for existing customers of the bank and individuals who are working with reputed corporations with a stable employment history.

Below-mentioned are Kotak Bank home loan rates for multiple housing schemes.

Kotak Bank Home Loan Scheme Interest Rates
Kotak Bank Repo Rate Home Loan 6.55% - 7.20%

Kotak Home Loan Interest Rate for Salaried and Self-Employed

The home loan interest rates in Kotak for salaried and self-employed is mentioned in the table below:

Home Loan Interest Rate for Salaried

Loan Amount Rate
Upto ₹ 30 Lakh 6.55%
₹ 30 Lakh - ₹ 75 Lakh 6.55%
₹ 75 Lakh - 2 Cr 6.55%
Above ₹ 2 Cr 6.55%

Home Loan Interest Rate for Self-Employed

Loan Amount Rate
Upto ₹ 30 Lakh 6.60%
₹ 30 Lakh - ₹ 75 Lakh 6.60%
₹ 75 Lakh - 2 Cr 6.60%
Above ₹ 2 Cr 6.60%

Kotak Bank Home Loan Interest Rate For Women & Govt Employee

Loan Amount Kotak Home Loan Rate For Women Kotak Home Loan Rate For Govt Employee
Upto ₹ 30 Lakh 6.55% 6.55%
₹ 30 Lakh - ₹ 75 Lakh 6.55% 6.55%
₹ 75 Lakh - 2 Cr 6.55% 6.55%
Above ₹ 2 Cr 6.55% 6.55%

Kotak Home Loan Balance Transfer Interest Rates

Kotak Bank home loan balance transfer facility is ideal for existing home loan customers, who are paying high interest to their existing lender. Through this facility, you can transfer your existing home loan to Kotak Bank at a lower rate of interest, without closing the account. However, you do need to check the foreclosure charges that you have to pay to your existing lender if it is a fixed rate loan. Currently, Kotak Bank offers the loan balance transfer rate of 6.50%.

Illustration on Home Loan Interest Rate Kotak Bank
Maximum Annual Percentage Rate (APR) 6.58% to 7.23%
Representative example of the total cost of the loan, including all applicable fees
Here is an illustration of the total cost of the loan:
  • Total amount borrowed: ₹ 1,00,000
  • Time period: 5 Years to 20 Years
  • Kotak Bank Home Loan Interest Rate: 6.55% to 7.20%
  • Processing Fee payable to: Upto ₹ 500
  • Fee payable to MyLoanCare: NIL
  • Total Monthly Cost – From ₹ 749 for 20 Years ₹ 1,00,000 loan at 6.55% (lowest rate, longest time period) to ₹ 1,990 for 5 Years ₹ 1,00,000 loan at 7.20% (highest rate, shortest time period). This is inclusive of principal repayment.
  • Annual Percentage Rate (APR) of charge including all applicable fees: 6.58% to 7.23%
  • Total cost payable over loan tenure: ₹ 1,18,038 for 5 Years loan to ₹ 1,80,145 for 20 Years loan


Has Kotak reduced home loan rates?

As per the current rates, Kotak has hiked its home loan rates by 0.05% from 6.50% to 6.55%, which is one of the best rates in the market. The new rates are effective from 10 Sep, 2021.

Why should I opt for balance transfer to Kotak Bank?

Kotak Bank offers lowest Home Loan EMI of ₹ 749 per lakh availed at the lowest interest rate 6.55% for a maximum tenure of 20 years. If you are paying an EMI more than ₹ 749 per lakh, you should consider the option for a loan transfer to Kotak from your existing bank. Current Kotak balance transfer rate is 6.50%.

Can Kotak Bank housing loan interest rate be negotiated?

Yes, if you have a good relationship with the bank and a high credit score, you can negotiate with Kotak to lower the home loan rates. Apart from the home loan rates, you can also negotiate over the processing fee.

Can Kotak revise the home loan interest rates for their existing customers?

Yes, Kotak offers concessional rates to the existing customers, and you can negotiate with the bank to offer you the revised home loans at a floating rate of interest. The floating interest rates on home loans vary as per the change in market trends or in external benchmark rates such as the repo rate.

Does Kotak offer a concessional home loan interest rate for women?

Yes, Kotak offers special home loan interest rates for women. As against Kotak home loan rates for male which is 6.55%, the home loan interest rate for women starts at %.

What is the Kotak home loan rate of ₹ 25 Lakh for 15 years?

For home loan upto ₹ 25 Lakh, Kotak provides home loan interest rate starting at 6.55%. However, you can get the lowest rates if you have a good relationship with the bank, work with top corporations, have a good CIBIL score and have stable income sources.

At what interest rate does an Kotak employee get a home loan?

Kotak offers concessional home loan rates of about 1% than the current home loan rates to Kotak employees.

Is Kotak Bank home loan a floating rate loan or fixed-rate loan?

Kotak home loan is offered at both fixed and floating rates. In the case of the fixed-rate, the interest remains the same throughout the tenure. On the other hand, the home loan rates vary as per the market fluctuations for floating home loan rates.

What is the Kotak home loan rate today ?

Kotak home loan rate today is in the range of 6.55% to 7.20%.The bank also charges a processing fee of upto Maximum ₹ 10,000 of the home loan amount.

How much interest does Kotak take on home loans?

The rate of interest on Kotak home loans varies based on your eligibility, such as CIBIL score, age, repayment capacity, income etc. However, Kotak home loan current interest rate 2021 are in the range of 6.55% to 7.20%.

Kotak Bank Home Loan Reviews 4.7/5  by 3 customers
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Amit, Pune
Reviewed on 27th Jan 2021
5 / 5 stars
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
5 / 5 stars
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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Reviewed on 10th Feb 2020
4 / 5 stars
Kotak Bank Home Loan Availed in Dec 2019

MyLoanCare was good But Kotak complicated a few things. Read more...

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Kotak Home Loan News - Jan 2022
  • 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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