Kotak Mahindra Bank Home Loan Prepayment Calculator

Eligible floating-rate individual home loans used for non-business purposes are generally protected from such charges by RBI rules. Confirm the latest Kotak terms before acting.

Log into the Kotak Mobile Banking app, navigate to your home loan account, and use the payment or prepayment option. Alternatively, use Kotak net banking. After payment, confirm with Kotak how the amount has been applied, toward EMI reduction or tenure reduction, and request an updated repayment schedule.

Tenure reduction usually saves more interest, while EMI reduction is mainly useful if you need lower monthly payments.

This depends on your effective home loan rate (post-tax in the old regime) versus your expected post-tax investment return. Prepayment gives a guaranteed risk-free return equal to your loan rate. Equity investments may outperform over the long run but carry volatility. A common middle-ground for many borrowers is to do both, prepay a portion and invest the rest. KlearPay can help you model the prepayment side of this calculation.

Savings depend on the exact loan. Use the example below for guidance and KlearPay for a precise estimate.

If you have taken a top-up loan on your Kotak home loan, the outstanding balance is higher than the original sanction, and the amortisation schedule is modified. Prepayment applied to the combined balance will reduce overall interest, but clarify with Kotak whether the prepayment reduces the original loan, the top-up, or both. Use your current outstanding statement for accurate inputs in KlearPay.