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Bank of Maharashtra vs Kotak Mahindra Bank Home Loan
Bank of Maharashtra advertises the lower starting rate (7.25% vs 7.6%). On ₹50 lakh over 20 years that is about ₹2,56,115 less interest, or ₹1,067 less per month, at the starting rates.
| Bank of Maharashtra | Kotak | |
|---|---|---|
| Starting interest rate | 7.25% | 7.6% |
| EMI for ₹50 lakh, 20 years | ₹39,519 | ₹40,586 |
| Total interest | ₹44,84,512 | ₹47,40,627 |
| Processing fee | 0.25% of the loan amount + GST | Not stated |
| Prepayment | No pre-payment, pre-closure or part-payment charges | The bank advertises freedom from prepayment charges |
| Maximum tenure | 30 years | 25 years |
Source: Bank of Maharashtra official page, checked on November 2026 (2026-11-01).
Source: Kotak Mahindra Bank official page, checked on November 2026 (2026-11-01).
These figures use the bank's advertised starting rate. Most borrowers are offered a higher rate depending on credit score, income and loan size, so treat the result as a best case.
Frequently asked questions
Which is cheaper, Bank of Maharashtra or Kotak home loan?
Bank of Maharashtra advertises the lower starting rate (7.25% vs 7.6%). On ₹50 lakh over 20 years that is about ₹2,56,115 less interest, or ₹1,067 less per month, at the starting rates. Your actual rate may differ from the starting rate.