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Kotak Home Loan EMI Calculator



Total Interest Payable:


Total of Payments (Principal + Interest):


As per market capitalisation, Kotak Mahindra ranks among the top three private sector banks in India. The financial institution started its journey as a non-banking financial company in 1985 as Kotak Mahindra Finance Limited.

However, it received its banking license in February 2003 to become Kotak Mahindra Bank Limited. Presently, it has 2519 ATMs and about 1600 branches all over India. It provides numerous financial services to retail customers as well as corporates.

The NBFC has its expertise in areas like retail lending. Also, Kotak Mahindra offers one of the most affordable interest rates on its home loans, starting from 7.10% p.a. So, if individuals are looking for affordable housing finance, they can consider Kotak bank.

Nonetheless, before selecting any credit amount, they should use the Kotak home loan calculator to ensure affordable repayment.

Kotak Bank Home Loan EMI Calculator

Repaying a housing loan along with applicable interest rate within a fixed timeline requires well-strategised financial planning. Individuals also need to evaluate their repayment capability to reduce any chances of default. Here, the use of Kotak home loan EMI calculator can be beneficial. Individuals can easily estimate their loan EMIs with the help of a home loan calculator.

On entering the value of loan principal, repayment period, and interest rate, this tool computes an accurate instalment amount instantly. Users can thus take their borrowing decision accordingly.

How Does a Home Loan Calculator Work?

The Kotak Mahindra bank home loan EMI calculator uses the following formula for EMI computation –

EMI = [P x R x (1+R)^N]/[(1+R)^N-1]

In this –

  • P refers to the loan value
  • R denotes the interest rate
  • N is the tenure in months

Below is an example that explains how a home loan calculator works –

Meryl has approached Kotak Bank for a home loan; and, after assessing her property, the bank decides to approve a loan amount of Rs. 50,00,000 at an interest rate of 8.9% p.a. Meryl looks forward to repaying the loan over a tenure of 20 years.

Here, the values entered in the calculator include –

P or the principal valueRs.50,00,000
R or the rate of interest8.9%
N or the tenure240 months

As per the formula, the EMI amount would be –

EMI = [P x R x (1+R)^N]/[(1+R)^N-1]

= [50,00,000 X 8.9% X (1+8.9%)^240] / [(1+8.9%)^240-1]

= 44,665

Nonetheless, Meryl can simply provide the Kotak bank home loan calculator with the required valued to know her EMI, computed as Rs. 44,665. She can also view the total amount payable, which, in this case, is calculated to be Rs. 1,07,19,656.

What are the Factors that Influence Home Loan EMIs?

  • The interest rate applicable is an essential factor that determines the EMI amount on loans. A high rate of interest thus increases the amount that a borrower has to pay as EMI.
  • The repayment tenor opted also affects the amount of instalment. Thus, individuals can keep their monthly instalments within their financial capacity with a long tenure and vice versa. An extended tenure, nevertheless, increases the total cost of a loan.
  • Also, as a change in the loan amount proportionately impacts the instalments, an increased amount will result in higher EMIs and vice versa.

What are the Benefits of Kotak Bank Home Loan Calculator?

  • By using a Kotak Mahindra home loan EMI calculator, users can gain an idea about the total cost of the loan, including the total interest payable and the EMIs.
  • With necessary tweaks to the inputs, it helps decide the monthly instalment amount based on a user’s repayment capacity.
  • It is a user-friendly online tool that provides quick computation of EMIs.
  • EMI calculators are also useful in planning finances efficiently.

Borrowers must understand that home loan is a significant financial responsibility, and thus they should assess their repaying capability before deciding the amount. Kotak home loan calculator can assist them in selecting a suitable EMI amount as per their financial profile.


What is the maximum loan amount that I can apply for?

You can apply for up to Rs. 40 lakhs as a personal loan with Kotak Bank.

Can I extend my home loan amount availed from Kotak Mahindra Bank?

It depends on your eligibility and credit profile.

Can I foreclose my home loan availed from Kotak Mahindra Bank?

No prepayment/foreclosure is allowed until a Lock-in Period of 6 months after EMI Commencement. 

What is the minimum credit score required to avail of home loans from Kotak Mahindra Bank?

You need to have a credit score of 650 and above.

How to apply for a home loan in Kotak Mahindra bank?

Kotak home loans application is available online and offline. The bank charges no processing cost. The bank also provides house loans under the PMAY scheme and offers discounts to female customers.

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