KOTAK

What you'll love

Kotak Mahindra Bank offers personal loans to its customers at a reasonable interest rate. This loan is also known as an unsecured loan, wherein the borrowers do not have to pledge any assets against the loan. Additionally, it can be utilized for various purposes such as taking a long vacation or planning to renovate your house, a personal loan from Kotak Mahindra Bank can be the best option to do so.

• You can manage your immediate financial necessities with our personal loans, right from planning a big occasion to encountering unexpected expenses; we have a solution to your planned/ unplanned expenditures with our personal loans. 
• Just apply for a personal loan online from the comfort of your home or office and receive a quick loan disbursal with a seamless experience. 

Fees & Charges

• Lowest EMI of ₹ 2,174 per lakh.
• Processing Fees: 10.99% to 17.99%
• Pre-closure charges: Pre-closure of Kotak Mahindra Bank personal loan is Allowed with Nil charges
• Part-payment charges: Not allowed for a personal loan
• There is a fixed rate of interest charged on a monthly reducing basis. It is evaluated on the overdue amount i.e., the amount to be repaid after the EMI and interest are paid.

Eligibility Criteria

• Kotak Mahindra Bank Personal loans are accessible for both, self-employed individuals and salaried working professionals. 
• The lowest personal loan amount is Rs. 50,000 and the highest is Rs. 30 lakh at Kotak Mahindra bank.

Documents

Taking a personal loan from Kotak Mahindra Bank comprises of simple and minimal paperwork. Additionally, applying for a loan online can help you get instant loan approval.

Perks

• Kotak’s personal loan for medical emergency facilitates you to confront unexpected medical expenditures. You can simply apply online, and get an unsecured personal loan on the submission of mandatory documents. 
• Kotak offers unmatched financial assistance on personal loans for home improvement. We offer you an attractive rate of interest. 
• With an easy application procedure for personal loans, you can finance your home renovation expenses and redesign your home, giving it a new look without blowing up all of your savings.

Features of Kotak Mahindra Personal Loan

• Rate of interest of Kotak Mahindra personal loan is in the range of 10.99% to 19.00%.
• Lowest EMI of ₹ 2,174 per lakh.
• Processing Fees: 10.99% to 17.99%
• Pre-closure charges: Pre-closure of Kotak Mahindra Bank personal loan is Allowed with Nil charges
• There is a fixed rate of interest charged on a monthly reducing basis. It is evaluated on the overdue amount i.e., the amount to be repaid after the EMI and interest are paid.

Kotak Mahindra Bank Personal Loan Details

Personal loans in Kotak Mahindra Bank are offered at an attractive interest rate with a loan tenure ranging between 12 months to 60 months. The loan can be paid back in easy instalments and you can select an EMI plan which best suits your current financial position.

Personal Loans Repayment Options:

● An auto-debit from in your existing Kotak account with standing instructions

● Via ECS (Electronic Clearing System)

● PDC (Post-dated cheques)

Fees and Charges

• Loan amount of minimum ₹ 1 Lakh to a maximum of ₹ 30 Lakh.
• Loan Tenure ranges from 12 to 60 months.
• Rate of interest of Kotak Mahindra personal loan is in the range of 10.99% to 19.00%.
• Lowest EMI of ₹ 2,174 per lakh.
• Processing Fees: 1.00%.
• Pre-closure charges: Pre-closure of Kotak Mahindra Bank personal loan is Allowed with Nil charges
• Part-payment charges: Not allowed for a personal loan
• Late EMI payment charges:   loan cancellation charges are been disclosed by the bank during the signing of loan agreement.

Eligibility Criteria

• Kotak Mahindra Bank Personal loans are accessible for both, self-employed individuals and salaried working professionals. 
• The lowest personal loan amount is Rs. 50,000 and the highest is Rs. 30 lakh at Kotak Mahindra bank.
• An unsecured personal loan from Kotak Mahindra Bank can be availed by you without any guarantor or security. 
• Nevertheless, make sure that you have a good credit score, as a good score i.e., above 700 will help you to get a loan at an attractive interest rate and at favourable terms and conditions.

Documents Required

Kotak Mahindra Personal Loan FAQ

      How can I repay my loan?

You can repay your loan amount in Equated Monthly Instalments (EMIs). The loan repayments can be done via post-dated cheques, ECS, or via a standing instruction to debit the repayment amount from your Kotak Mahindra Bank account.

      When can I take a Kotak Mahindra top up loan?

You can take a top up loan from Kotak Mahindra when you opt for a balance transfer with Kotak Mahindra.

      Can business owners take personal loans from Kotak Mahindra Bank?

Yes, Kotak Mahindra Bank offers personal loans to salaried individuals and Self-Employed. Applicants are required to be employed with a private, public sector, or government body at the time of taking the loan and also Business registration proof.

      What is the repayment tenure for personal loans issued by Kotak Mahindra Bank?

If you take a personal loan from Kotak Mahindra Bank, you will need to repay the due amount within 1 year to 5 years (12 to 60 months).

      How to check Kotak Mahindra Bank personal loan status?

You can check the status of your Kotak Mahindra personal loan application by visiting the website of Kotak Mahindra Bank. 

      How to contact Kotak Mahindra Bank personal loan customer care?

Listed below numbers can be contacted for Kotak Mahindra Bank personal loan customer care executives 

You can call our customer care between 9 a.m. and 5 p.m. on all days including Sundays and bank holidays.