Bank
Kotak Mahindra Bank

Kotak Mahindra Bank is the fourth largest Indian private sector bank by market capitalization, headquartered in Mumbai, Maharashtra.

About Home Loan

Kotak Mahindra Bank provides you home loans accompanied by highly customised facilities and services for a seamless and pleasurable home-buying experience. In a market where the basic product is largely similar, the differentiator is our ability to understand the customer's need completely and structure the eligibility and loan amount appropriately.

Eligibility Criteria

  • Monthly or annual income
  • Source of income
  • Savings and credit history
  • Work experience
  • Age
  • Qualifications
  • Number of dependents
  • Probability of the individual continuing in the same occupation

Documents Required

  • Duly filled Application Form
  • Income proof and banking details
  • Age proof and address proof
  • Identity proof and Signature Proof
  • Proof of educational qualifications

Do's and Don'ts

Do’s

  • Make your mortgage or rent payments on time
  • Stay current on all existing accounts
  • Continue to work for the same employer
  • Continue living at your current residence
  • Keep credit card balances at or below 40% of credit limits
  • Call us before doing anything regarding your employment, credit cards or assets.

Don'ts

  • Don’t make a major purchase (car, boat, etc.)
  • Don’t apply for new credit or loans of any kind
  • Don’t change bank accounts or banks unless advised
  • Don’t consolidate your debt into fewer accounts
  • Don’t Deposit cash or non-traceable funds
  • Don’t close credit card accounts
  • Don’t borrow money

About Personal Loan

Get a step closer to your dreams and goals by availing our Personal Loans and meet your financial needs. You can avail a personal loan to meet unexpected expenses, a dream holiday, school or college fees, wedding expenditure, home improvement expenses or even purchase of consumer durables.

Eligibility Criteria

Criteria

 Salaried individuals

Profile

Resident Indian employed at a Public Ltd co./ MNC/ large Pvt. Ltd co.

Age

21-58 years

Income

Net monthly salary of Rs. 25,000/-

Minimum educational qualification

Graduate

Residence telephone

Required

Years in city

Minimum 1 year

Total work experience

Minimum 2 years

Documents Required

  • Application form with photograph
  • KYC Documents
  • Signature Proof
  • Last 3 months’ payslips and Form 16
  • Last 8 months’ Bank account statements

Do's and Don'ts

Do’s

  • Make your mortgage or rent payments on time
  • Stay current on all existing accounts
  • Continue to work for the same employer
  • Continue living at your current residence
  • Keep credit card balances at or below 40% of credit limits
  • Call us before doing anything regarding your employment, credit cards or assets.

Don'ts

  • Don’t make a major purchase (car, boat, etc.)
  • Don’t apply for new credit or loans of any kind
  • Don’t change bank accounts or banks unless advised
  • Don’t consolidate your debt into fewer accounts
  • Don’t Deposit cash or non-traceable funds
  • Don’t close credit card accounts
  • Don’t borrow money

About Car Loan

Drive home your dream Car with our flexible schemes and easy processing

Eligibility Criteria

  • All Indian residents.
  • Minimum income of 15000 per month.
  • Minimum residence stability of 1 year.
  • Minimum employment stability of 1 year.
  • Age minimum 21 years.

Documents Required

  • Know Your Customer (KYC) documents are required for initiating the process. Based on the product selected, the other requirements are communicated by a company executive during a personal visit. Other than this the basic documents as per RBI guidelines are required.

Do's and Don'ts

Do’s

  • Make your mortgage or rent payments on time
  • Stay current on all existing accounts
  • Continue to work for the same employer
  • Continue living at your current residence
  • Keep credit card balances at or below 40% of credit limits
  • Call us before doing anything regarding your employment, credit cards or assets.

Don'ts

  • Don’t make a major purchase (car, boat, etc.)
  • Don’t apply for new credit or loans of any kind
  • Don’t change bank accounts or banks unless advised
  • Don’t consolidate your debt into fewer accounts
  • Don’t Deposit cash or non-traceable funds
  • Don’t close credit card accounts
  • Don’t borrow money

About Education Loan

Education is the most important investment one makes in life. Therefore, Kotak Mahindra Bank brings to you Education Loans, which aims to finance meritorious students who choose to pursue a higher education (professional or technical) in India and abroad.

Eligibility Criteria

Age Eligibility

  • There is no specific restriction regarding the age of a student in order to be eligible for an education loan.
  • Age of joint applicant / co-borrower / guarantor should be minimum 21 years at the time of loan origination and maximum age at the time of loan maturity can be 70 years.

  • If the student was a minor while the joint applicant / co-borrower / guarantor executed the document for the loan, the bank will obtain a letter of ratification from him/ her upon attaining majority.

Student Eligibility

  • The student should be an Indian National
  • The student shall have secured the admission in India or abroad through an entrance test or through merit based selection process

Eligible Courses

In India-

  • Post-Graduation Courses: Master’s and Ph.D. from accredited institutions.
  • Professional Courses: Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management and Computer Sciences.

  • Other professional courses such as CA, ICWA, CS, and CFA.

  • Masters and Diploma Management Programs.

  • Other courses leading to degree/diploma conducted by colleges/universities approved by UGC / Govt. / AICTE / AIBMS / ICMR, etc.

  • Regular Degree/Diploma course like aeronautical, pilot training, shipping, nursing or any other discipline approved by Directory General of Civil Aviation / Shipping / Indian Nursing Council or any other regulatory body as the case may be, if the course is pursued in India.

  • Any other course as shall be declared from time-to-time.

Studies abroad-

  • Graduation: Reputed universities.
  • Post-graduation: MCA, MBA, MS and other courses as shall be declared from time-to-time.

  • Other courses such as CIMA - London, CPA in USA, CFA, CISA, and other approved courses as shall be declared.

  • Degree/Diploma course like aeronautical, pilot training, shipping, etc. provided these are recognised by competent regulatory bodies abroad for the purpose of employment in India/abroad.

Documents Required

Document

Applicant

Co-applicant/ co-borrower

Guarantor

Application Form

Yes

Yes

Yes

2 photographs

Yes

Yes

Yes

Proof of Identity

Yes

Yes

Yes

Proof of Residence

Yes

Yes

Yes

Signature verification from bank

Yes

Yes

Yes

Income Details

No

Latest payslip or Form 16 or 2 years ITR

Latest payslip or Form 16 or 2 years ITR

Proof of Ownership

No

Yes

Yes

Proof of Relationship

Yes

Yes

Yes

Confirmed admission letter

Yes

No

No

Letter from college

Details of course and fee structure to be paid

No

No

Academic Pass out Mark sheet/Certificate

Yes

No

No

Do's and Don'ts

Do’s

  • Make your mortgage or rent payments on time
  • Stay current on all existing accounts
  • Continue to work for the same employer
  • Continue living at your current residence
  • Keep credit card balances at or below 40% of credit limits
  • Call us before doing anything regarding your employment, credit cards or assets.

Don'ts

  • Don’t make a major purchase (car, boat, etc.)
  • Don’t apply for new credit or loans of any kind
  • Don’t change bank accounts or banks unless advised
  • Don’t consolidate your debt into fewer accounts
  • Don’t Deposit cash or non-traceable funds
  • Don’t close credit card accounts
  • Don’t borrow money

About Loan Against Property

Your existing property can help you avail of a loan at interest rates lower than other consumer loans1. Avail a Loan Against Property (LAP) today and unlock the potential in your property.

Eligibility Criteria

For self-employed professionals:

  • Minimum annual income should be Rs. 1.44 lakh as per the P&L.
  • Minimum 21 years of age.
  • Maximum 65 years of age at the time of loan maturity.
  • Firm/company should have been in operation for the last 3 years.
  • Firm/company should be making cash profits for the last two years.

For self-employed non-professionals:

  • Minimum annual income should be Rs. 1.44 lakh as per the P&L.
  • Minimum 21 years of age.
  • Maximum 65 years of age at the time of loan maturity.
  • Firm/company should have been in operation for the last 3 years.
  • Firm/company should be making cash profits for the last two years

Documents Required

  • Completed application
  • Income documents and bank statement
  • Address and age proof

Do's and Don'ts

Do’s

  • Make your mortgage or rent payments on time
  • Stay current on all existing accounts
  • Continue to work for the same employer
  • Continue living at your current residence
  • Keep credit card balances at or below 40% of credit limits
  • Call us before doing anything regarding your employment, credit cards or assets.

Don'ts

  • Don’t make a major purchase (car, boat, etc.)
  • Don’t apply for new credit or loans of any kind
  • Don’t change bank accounts or banks unless advised
  • Don’t consolidate your debt into fewer accounts
  • Don’t Deposit cash or non-traceable funds
  • Don’t close credit card accounts
  • Don’t borrow money