Kotak Mahindra Bank - 9.15% for Loan Against Property - Loan Against Industrial Property

Kotak bank is the largest private bank in India that offers the lowest interest rates 9.15% p.a. onwards on loan against property.

kotak bank offers loan starting from  with quick approval.

 

Kotak Bank has the following benefits:

1. The Kotak Mahindra Bank Loan Against Property can be availed for purposes such as education, travel, and other personal expenses.

2. Applicants can use their residential property, commercial or industrial properties as collateral.

3. Flexible eligibility criteria.

4. Interest rates are lower than usual personal loan products.

5. Hassle-free online application process.

Interest Rates	9.15% p.a. onwards*
Loan Amount	Rs 10 lakh-Rs 5 crore
Tenure	Up to 15 years
Processing Fee	Up to 1% of loan amount
Minimum Income	For salaried: Above Rs 1.8 lakh per annum
	For self-employed: Above Rs 40,000 per month

 

Factors Affecting Kotak Bank Loan against Property Interest Rates

Loan amount: 

Property loan rates in Kotak depend upon the loan amount you apply. 

 

Your Net Monthly Income: 

Income helps you in identifying your rate of interest. Higher the income, higher will be your repayment capacity increasing your eligibility for higher loan amount.

 

Type of loan opted for: 

kotak offers differential rates for customers different profiles and also fixed and floating rate schemes.

Loan against property interest rates may be higher or lower for special loan products.

 

Type of property: 

Typically, loans against prime residential properties are easier to get and can be availed at the lowest rates compared to loans against commercial and industry properties.

 

Your profession:

 kotak may charge a higher interest rate on a mortgage loan to a salaried person than a self-employed professional or a businessman.

A self employed professional or businessman is expected to deploy loan proceeds for productive purposes in his occupation or business compared to salaried people who will most likely take a mortgage loan for his personal purposes.

 

Kotak Bank Loan Against Property Documents Required

For Self-Employed:

1. Filled up loan application form

2. Two Passport Size Photo

3. ITR of last 3 years

4. Identity Proof - Passport/ Driving License/ Voter ID/ PAN

5. Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (up to 3 months old), Passport

6. Business proof such as VAT/ service tax registration, incorporation details in case of companies, business address proof, profit and loss account and balance sheets certified by CA, copy of partnership deed and proof of business existence and business profile

 

For Salaried employee:

1.Filled up loan application form

2.Two Passport Size Photo

3. ITR of last 2 years

4. Identity Proof - Passport/ Driving License/ Voter ID/ PAN

5. Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (up to 3 months old), Passport

6. Income Documents – 6 months payslip, 2 years Form 16, 6 months bank statement showing salary credit and any EMI debit

 

Property documents:

1. Registered Sale Deed/ Conveyance/ Lease Deed

2. Past Sale Deeds Chain (each transaction in respect of this property since first allotment

3. Latest House Tax Return/ Receipt

4.Approved Building Plan from Municipal Corporation

 

Frequently Asked Questions:

 

Q.What is kotak Banks loan against property interest rate?

Ans. kotak bank offers loan against property at rate of 9.15% p.a.* with lowest EMI.

 

Q. what is the maximum loan tenure i can opt under kotak bank property loan?

Ans.kotak bank offers a maximum tenure of 12 years to repay yor loan.

you can the tenure for your LAP loan as per your convenience and repayment ability.

 

Kotak Loan Against Property News - March 2023:

 

2021-03-05 : Kotak and Indian Army ink pact salry account:

kotak bank signed a memorandum of understanding with the indian army in new delhi for a salary account. 

The MoU enables kotak to offer its salary account and its exclusive benefits for the indian army.

 

2021-03-05 : 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 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.

Net interest Income (NII) is expected to increases by 7.7% Y-o-Y to Rs.4,011.9 crores.