Home Renovation Loan: Apply Home Improvement Loans @ Low Interest Rate | Kotak Bank
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Home Improvement Loans: Features and Benefits

Give your home an upgrade without having to worry about the expenses. Opt for a house renovation loan. Kotak Mahindra Bank’s Home Improvement Loans have these features and benefits:

  • Loan Amount

Avail of home repair loans up to 90 % of your requirement.

  • 80 % home renovation loan for amounts from 35 lakhs to 70 lakhs
  • 75 % home renovation loan for amounts above 75 lakhs
  • Loan Tenure

Get flexible repayment tenures, with a maximum of 25 years. Your retirement age and profile are important determining factors.

  • Ownership Type

Individuals as well as joint owners can apply for a house renovation loan.

Apply for a home renovation loan from Kotak Mahindra Bank, today!

Home Renovation Loan Eligibility Criteria

When borrowers apply for home repair loans, the lending bank checks various factors to analyse their repayment capacity. To avail of a home renovation loan from Kotak Mahindra Bank, these eligibility criteria are taken into consideration:

 

  • Age: minimum 21 years
  • Monthly/annual income
  • Income source
  • Job stability
  • A good credit score
  • Existing savings
  • Number of dependents
  • Educational qualification

 

A home renovation loan eligibility calculator can help you find out the house renovation loan amount that you can avail of. So, check your eligibility and apply for a house renovation loan from Kotak Mahindra Bank.

Home Renovation Loan Interest Rate

The home renovation loan interest rate determines your monthly installment amount. Kotak Mahindra Bank charges a home renovation loan interest rate depending upon your nature of employment.

Your interest rate depends on your eligibility. So, make sure to check your house renovation loan eligibility before applying for a home renovation loan. Kotak Mahindra Bank has simple eligibility criteria for all our borrowers.

Document Required for Home Improvement Loans

In order to avail of home improvement loans, borrowers have to submit a few documents. The lending bank then makes the decision regarding the disbursement of the house renovation loan based on these documents. For a home renovation loan from Kotak Mahindra Bank, you need to submit:

  • Valid identity proof
  • Valid income proof
  • Bank statements for the last 3 months
  • Salary slips for the last 3 months
  • Income tax returns
  • Proof of educational qualifications

If all your documents are clear, your home renovation loan application will be processed and a bank executive will soon contact you.

How to Apply for a Home Renovation Loan

Oftentimes, the process of getting home improvement loans becomes complex. But with Kotak Mahindra Bank, you need not worry about getting trapped in the intricacies of the application process, as it is convenient and hassle-free. Just follow these simple steps:

  • Visit Kotak Mahindra Bank’s official website
  • Navigate to the ‘Home Improvement Loans’ section
  • Click on ‘Apply Now’
  • You will be guided to an online application form
  • Fill the form with the necessary details
  • Then click on ‘Submit’
  • If your provided details are correct, a Kotak representative will contact you to complete the remaining process

Apply for a Kotak Mahindra Bank House Renovation Loan now!

Ready to take the next step?

Frequently Asked Questions

What is Home Renovation Loan?

A home renovation loan helps you to fund the expenses to upgrade your home. Whether it is renovation or repair work, a home renovation loan can take care of your financial needs when redoing your house or simply fill the gap in your funding. Kotak Mahindra Bank provides great deals on home improvement loans.

Who can avail of House Renovation Loans?

What are the eligibility criteria for a Home Renovation Loan?

What is the Interest Rate on a Home Renovation Loan?

What is the tenure for a Home Renovation Loan?

What is the maximum funding you can get for Home Renovation?

How to take a home repair loan?

Can I take a home renovation loan for decorating my house?

What are the charges for applying for a Kotak Mahindra Bank Home Renovation Loan?