NRI Home Improvement Loan
Whether you’d like a new kitchen, add an extra bathroom or just wish to breathe new life into your house, Kotak Mahindra’s NRI Home Improvement Loans will bring your grand plans to life. So, make your home suit your changing needs and renovate, furnish or paint your home with ease.
Funds all your home impovement needs*
Maximum loan up to 80% of the cost of improvement**
Maximum term is 10 years subject to your retirement age
Can be applied for either individually or jointly
Disclaimer:
*Funds all your needs for decoration, painting, renovation, furnishing, changing the look of your home, tiling, flooring, plumbing, waterproofing, electrical work, grills and aluminium windows, roofing, construction of underground/overhead water tank, paving of compound wall (with stone/tile/etc.) and borewell
**This is however subject to valuation of the property as assessed by Kotak Bank
The eligibility depends on an individual's repayment capacity and is based on the following:
Conditions apply: 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.
Apart from the application form, generally banks will ask you to submit the following documents:
Conditions apply: 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.
Currently we consider Loans to NRI/PIO residing or working in any of the following Countries only:
Conditions apply: 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.
You can borrow up to 80% of the home improvement cost, subject to valuation of the property as assessed by Kotak Mahindra Bank.
Your repayment capacity as determined by Kotak Mahindra Bank will help decide how much you can borrow. Repayment capacity takes into consideration factors such as income, age, qualifications, number of dependent's, spouse's income, assets, liabilities, savings history and stability and continuity of occupation.
You can opt for a loan period of up to 10 years, which can vary depending on your profile.
If you are an individual - your spouse, your parents, or even your major children can be your co-applicants. The co-owner of a property has to be a co-applicant, but a co-applicant need not be the co-owner of the property.
The applicant's / co-applicant's or both incomes will be considered for eligibility. (Both incomes would be considered only if both are NRIs. If applicant is NRI and co-applicant is Resident Indian, clubbing can’t be done).
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Note: Available in select banks only. Kotak Cards reserves the right to add/delete banks without prior notice. © Kotak Mahindra Bank. All rights reserved
By clicking on the hyper-link, you will be leaving www.kotak.com and entering website operated by other parties. Kotak Mahindra Bank does not control or endorse such websites, and bears no responsibility for them.
By clicking on the hyper-link, you will be leaving www.kotak.com and entering website operated by other parties. Kotak Mahindra Bank does not control or endorse such websites, and bears no responsibility for them.
By clicking on the hyper-link, you will be leaving www.kotak.com and entering website operated by other parties. Kotak Mahindra Bank does not control or endorse such websites, and bears no responsibility for them.
By clicking on the hyper-link, you will be leaving www.kotak.com and entering website operated by other parties. Kotak Mahindra Bank does not control or endorse such websites, and bears no responsibility for them.
