Pay off any existing balance of home loan with Kotak’s Home Loan Balance Transfer at a lower rate of interest. You can now retain your home on better terms and conditions that suit your needs.
Benefits of Balance Transfer: Even a 1.0% reduction in the interest rate can save you more than Rs. 1.5 lakh on a loan of 10 lakhs over a 20 year period. The exact figure will depend on the rate on the existing loan, balance tenure, etc.
Home Loan Interest Rates: Upto 14.5%
Processing Fees: upto 1.25% of loan amount
Features & benefits:
Transfer your existing home loan to kotak bank at lower rates.
Top-up facility available with transfer.
Maximum 20 years repayment period
The financial eligibility depends on the Customer’s repayment capacity and is based on the following factors:
- Monthly or annual income
- Source of income
- Savings and credit history
- Work experience
- Number of dependents
- Probability of the Customer continuing in the same occupation
Apart from the application form, you will be required to submit the following documents.
- Income proof and banking details
- Age proof and address proof
- Identity proof and Signature Proof
- Proof of educational qualifications
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