Kotak Bank

NRE Home renovation Loan

Make your home the place of your dreams - renovate, furnish or paint your home with easy home improvement loans from Kotak Bank.

Feature & benefit
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 bore well
Maximum loan up to 80% of the cost of improvement. This is however subject to valuation of the property as assessed by Kotak Bank
Maximum term is 10 years subject to your retirement age
Can be applied for either individually or jointly

the eligibility depends on an individual's repayment capacity and is based on the following:
Age, Qualification & Employment:
The Applicant's. / Co-appicant'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.)
Minimum education qualification – Graduate
Should be employed for at least 3 years
Maximum Age - 58 years at the time of maturity of the loan
Minimum Income Norms:
For Loan Tenure up to 5 years,
Annual Gross Salary (after Currency Conversion, if required) should be at least:
USD 30,000 for USA/UK/Other Countries excluding Gulf
Dirhams 36,000 for Gulf Countries
USD 20,000 for Merchant Navy
For Loan Tenure above 5 years and up to 10 years,
Annual Gross Salary (after Currency Conversion, if required) should be at least:
USD 42,000 for USA/UK/Other Countries excluding Gulf
Dirhams 48,000 for Gulf Countries
USD 26,000 for Merchant Navy
Note: Salary should be received on Weekly/Fortnightly/Monthly basis either through Direct Bank Credit or by Cheque & not by Cash.

Get Enquiry Here

9594111161 / 9967111161
504, 5th Floor Suchita Business Park,
Raigad Chowk, Station Road, Ghatkopar (E), Mumbai 400 077

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