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Coimbatore, the picturesque city in Tamil Nadu, offers a plethora of real estate opportunities. If you've set your sights on this vibrant locale, let Kotak Mahindra Bank's home loan in Coimbatore be your financial companion. From competitive home loan interest rates to seamless loan processing, Kotak ensures your journey from a home seeker to a homeowner in Coimbatore is smooth and hassle-free.
Before you apply for housing finance in Coimbatore, hold on and check the eligibility criteria. Home loan eligibility varies based on your income source, type of occupation, credit score and other factors. To understand your eligibility better, refer to the table below.
| Criteria | Self-employed Applicants | Salaried Applicants |
|---|---|---|
Age |
Applicants should be between 18-65 years old |
Applicants should be between 18 and 60 years old |
Citizenship |
Indian |
Indian |
Income |
Minimum Income of Rs 20,000 per month for residents of Delhi, Mumbai, Bangalore, Pune, and Chennai. Minimum Income of Rs. 15,000 per month for the residents of other cities. |
Minimum Income of Rs 20,000 per month for Delhi, Mumbai, Bangalore, Pune, and Chennai residents. Minimum Income of Rs 15,000 per month for the residents of other cities. |
Work Experience/ Continuity |
A minimum 3 years in business, practice or profession. |
2 years of work experience and at least 6 months in the current organisation. |
For a home loan in Coimbatore, you must provide various documents related to the property, finances, occupancy, identity, and address. These documents include:
To initiate your home-buying journey in Coimbatore, follow these straightforward steps:
Yes, opting for a longer tenure can reduce your monthly EMI. However, the overall interest payable might be higher.
Your loan eligibility depends on various factors, including other financial commitments. With a ₹30,000 salary, you may qualify for a substantial amount at home loan banks in Coimbatore, like Kotak Mahindra, with competitive interest rates.
Yes, you can avail tax benefits on both the principal and interest components of the home loan under the. Section 24B of the Income Tax Act. It provides tax benefits on the interest paid up to Rs. 2 Lakh on a home loan and the principal amount up to Rupees 1.5 Lakh under Section 80C.
Absolutely, Kotak offers housing loans for both new and resale properties in Coimbatore. You can speak with our representatives and find out more information regarding the formalities.
Kotak finances a wide range of properties, from residential apartments, villas to plots and commercial spaces in Coimbatore.
Kotak Mahindra Bank is the top choice for Home Loans in Coimbatore due to our competitive interest rates, hassle-free application process, and swift loan approval. Our commitment to serving the financial needs of the people of Coimbatore has made us a trusted name.
Branch Address:
Kotak Mahindra Bank Ltd,Srinivasa Bavan,3rd Floor,1050/1,Avinashi Road Coimbatore-641 018.
*Terms & Conditions Apply: The final home loan interest rate and other associated charges are subject to a rigorous assessment process, including an evaluation of the applicant's creditworthiness, CIBIL score, property value, and other relevant factors.
You can pay off any existing balance of Home Loan using Kotak’s Home Loan Balance Transfer at a lower rate of interest.
If you are an NRI and are looking for a Home Loan, Kotak provides you just that. Check out our NRI Home Loans section.
If you are looking for renovating your home, you can do so by taking Kotak’s Home Improvement Loans
To encourage women home buyers, Kotak Mahindra Bank offers affordable housing loans for women.
Disclaimer (Things you should know):
For loans: Credit at the sole discretion of the Bank and subject to guidelines issued by RBI from time to time. Bank may engage the services of marketing agents for the purpose of sourcing loan assets.
