Kotak Mahindra Bank offers a range of home loans in India to help individuals purchase their dream homes. As a significant investment, we understand the importance of making the right decision, which is why we provide comprehensive information on home finance, including interest rates, eligibility criteria, and customisable loan offerings. Whether you are a first-time homebuyer, upgrading to your dream home or planning to reduce your Housing Loan EMI by shifting, we have the perfect solution to suit your needs. Our website offers helpful resources such as home loan calculators and FAQs to guide you towards making an informed decision. Take the first step towards owning your dream home in India today by applying for housing finance with Kotak.
You can apply online for a Kotak Home Loan via our website, Mobile Banking App, or by simply walking into your nearest Kotak Mahindra Bank branch. Via our online process, you can enjoy ease and convenience of a quick loan processing and get your Home Loan sanction letter within 10 minutes.
Rates linked to RBI’s repo rates
Hassle-free, simple and quick processing
For all digital applications
Customizable repayment tenure as per your need
Minimum ₹ 10,00,000
Till April 2028
A Home Loan EMI Calculator is an online tool that helps you calculate the Equated Monthly Installment (EMI) for your home loan. With a Home Loan EMI Calculator, you can easily determine the monthly installment amount you'll need to pay towards your home loan.
Kotak Mahindra Bank provides an easy-to-use home loan calculator that helps you calculate your housing loan EMIs and make informed decisions about owning your dream home. With the housing loan calculator, you can quickly determine your home loan EMIs based on the housing loan amount, rate of interest, and other factors. Kotak Mahindra Bank offers attractive interest rates and EMIs starting at ₹822 per Lakh*, so you can buy your dream home without hassle.
Home loan EMI is a systematic and easy approach towards home loan repayment. EMI stands for equated monthly installment, which includes principal amount, and the interest payable divided through the tenure chosen. Home loan borrower has to make the repayment of the loan each month in the form of home loan EMI.
The EMI on a home loan is calculated using a formula that considers the loan's principal amount, the tenure in months, and the monthly interest rate. The formula for calculating Equated Monthly Installment (EMI) for a home loan is as follows:
EMI= [P x R x (1+R)^N]/[(1+R)^N-1]
Where P = Loan’s principal amount
R = Monthly rate of interest
N = Tenure of the loan (in months)
For a home loan amount of 50,00,000 INR for 20 years and the yearly rate of interest of 6.55%, the EMI amount will be computed as follows:
EMI = [50,00,000*0.005*(1+0.005) ^240]/[(1+0.005)^240-1] = 37,426 INR
Here are the benefits you can enjoy with Kotak Mahindra Bank’s housing loan EMI calculator:
Kotak Mahindra Bank provides a simple and convenient housing loan EMI calculator in India. By entering the home loan amount, interest rate, and loan tenure (in years), you can get an exact EMI value displayed in seconds.
An amortisation schedule is a table that shows the periodic payments and the amount of principal and interest that make up each payment for the entire loan term. It also shows the remaining loan balance after each payment is made.
Click here to view Amortization Table
Once the home EMI calculator shows you your EMI amount you will have a clearer picture of your home loan. To reduce your EMI amount on a home loan follow these tips:
An EMI (equated monthly installment) is a monthly payment paid by the borrower to the creditor. It can be calculated using a housing loan EMI calculator.
Home Loan EMI calculators help you to calculate your EMI amount based on the inputs entered. A house loan calculator is an effective tool.
The home loan repayment calculator not only helps you know the EMI amount but also has other benefits you can enjoy if you calculate your EMI beforehand:
The Home Loan EMI Calculator uses an algorithm that takes into account variables, such as your home loan amount, the interest rate, and the tenure of your loan. The intricacies of the amortization schedule - yearly or monthly, can be understood by simply contacting us.
The home loan EMI depends on various factors including loan amount, interest rate, tenure, prepayment and down payment.
With the house loan calculator find out the EMI then decide the date on which you want to avail of the loan.
Calculate your EMI, interest rate, and tenure using the home EMI calculator before you decide to apply for a loan. Once you avail of the loan, the date for your EMI deduction is fixed. However, you can change your home loan EMI date by: