Kotak Mahindra home loan calculator computes your monthly installments quickly Financing a house is a big deal and Kotak Mahindra Bank knows this better, that is why it provides home loans to the customers at an attractive rate of interest. You can get doorstep services and assistance from the online tools of Kotak Mahindra Bank for a hassle-free loan process. With Kotak Mahindra Bank home loans you can finance your house, land, renovate or extend the existing property. Read this article to know the Kotak Mahindra home loan calculator, interest rate and more features it will offer to the customers. Role of the online calculator to estimate the Kotak bank home loan interest rate You can use the Kotak Mahindra home loan calculator to determine the monthly payable interest rate for your home loan. The home loan EMI calculator works in a mathematical formula [P x R x (1+R)^N]/[(1+R)^N-1], where P is the borrowed amount, R is the rate of interest and N is the loan payment duration. By taking all the details it generates an approx. equated monthly loan installment (EMI) of your loan amount and also the total payable Kotak bank home loan interest rate is displayed on the screen. To understand the working of EMI calculator better suppose you want to borrow an amount of INR 50 lakh at an interest rate of 8.95% on a 20 years tenure. And to calculate the EMI, you can use the simplest way that is through Kotak Mahindra home loan calculator which would give the EMI of the mentioned loan amount INR 44,826. So as you can see that the home loan calculator would make the loan procedure easier for you, and you can manage the payment of your Kotak bank home loan interest rate and EMI without any hassle. Kotak bank home loan interest rate can make your home finance affordable You must be already aware of the fact that after the RBI new rules any NBFC or bank has to provide home loans to the customers on a marginal cost fund based lending rate (MCLR). Kotak Mahindra Bank also follow the rules and offers home loan on a current MCLR of 8.15 to 8.65%. You can take home loans on a flexible type of interest rate so that you can get the benefit of lower EMIs and also prepay the amount whenever you need to. Kotak Bank home loan interest rate is starting from 8.90% and whenever the MCLR of the bank is high, you can take the advantage and prepay the loan amount to get the benefit. You can reduce the loan tenure or EMIs to reduce the interest rate burden. Also, to know the benefit of prepayment you can use the Kotak Mahindra home loan calculator which gives you the approx. payable interest rate of your outstanding amount. Now make the right decision, and apply for a home loan from Kotak Mahindra Bank by submitting fewer documents like the ID
proof, income proof, etc and pay the applicable processing fee. You can use the online or offline any of the bank service for any query related to your home loan sanction.