Kotak Mahindra - Interest rates from 10.99%
Kotak Mahindra offers personal loan interest rates start from 10.99% for all kinds of planned and emergency personal expenses.
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Kotak Mahindra Personal Loan
Kotak Mahindra bank is one of the most trusted financial institutions in the country. Kotak Mahindra offers personal loan to its customers starting from the interest rates of 10.99% offering loans upto 40 Lakhs with a flexible tenure.
Features of Kotak Mahindra Personal Loan
Loans upto 40 Lakhs
Avail loans upto Rs. 40 Lakhs at a tenure of one to six years.
Quick Processing
Quick, easy and smooth application, approval and disbursal processes
No Collateral Required
Do not need to mortgage any property in order to avail the personal loan
Low interest
Get personal loans from a low interest rate beginning at 10.99%
Video KYC
Easy documentation with video KYC using Aadhar card, and biometric KYC options
Personalized loan offer upto 5 Lakhs
Get personalized loan of Rs. 5 Lakhs by sharing your financial details & getting your email verified
Debt consolidation
Kotak’s personal loan balance transfer facility can help you with debt consolidation at lower interest rates
Personal loan overdraft
Credit facility that allows you to overdraw your account balance, comes with interest of 13%
Types of Personal Loan,
Based on its end-usage, there are different classifications of Personal Loans:
- Personal Loan for marriage
- Personal Loan for Travel
- Personal Loan for Home renovation
- Personal Loan for debt consolidation
- Personal Loan for government employees
- Personal Loan for Medical Emergency
- Personal Loan for Students
- Personal Loan for women
Charges in a Kotak Mahindra personal loan
| Interest rates | From 10.99% |
| Loan Processing Charges | Upto 3% of Loan amount + taxes |
| Overdue EMI interest | 3% per month on the overdue instalment amount |
| Foreclosure charges | Upto 3 years – 4% + GST on the outstanding amount After 3 years – 2% + GST on the outstanding amount Foreclosure charges for >10L is Rs. 999 plus taxes |
| Loan Tenure | 12 – 60 months |
| Bounce/Dishonour charges | INR 500 + taxes |
| Swap charges | INR 500 + taxes |
| Duplicate NOC | Upto INR 500 per instance |
Eligibility criteria for Kotak Mahindra Personal Loan
To apply for Kotak Mahindra Personal loan, you would need the following:
- 21 to 60 years old
- The applicant must either be self-employed or salaried.
- Minimum income requirement; Corp Salary – Rs. 25000, Non-Corp Salary Borrowers – Rs. 30000, Employee of Kotak Mahindra – Rs. 20000
- Must have completed graduation
- Work experience of one year atleast
Documents required for Kotak Mahindra Personal Loan
- Proof of identity – Aadhaar, Passport, Voter ID, Driving License, Photo PAN Card, Photo Ration Card, etc.
- Proof of Address – Passport, Utility Bills, Rental Agreement letter, Driving License, Insurance Policy, Ration Card,
- Bank statement of the last 3 months that has your income details
- Salary slip of the last 3 months if you are a salaried employee
- 2-3 passport sized photographs
Kotak Mahindra Bank Customer Care number
Customers can reach their helpline at 1860 266 2666
How to Apply for a Loan at Kotak Mahindra Bank?
Get your loan approved in 4 simple steps,
- Check if you have a pre-approved loan offer from them or apply through here
- Visit https://www.fincover.com/banking/loan/personal/ and select Kotak Mahindra Bank
- Enter all the required information as requested and Submit your personal loan application
- Check if your personal loan is approved with the reference no provided
- If approved and verified, the loan will disbursed in few days
NBFCs
- Rs.50 lakh Personal Loan
- Rs.40 lakh Personal Loan
- Rs.30 lakh Personal Loan
- Rs.25 lakh Personal Loan
- Rs.20 lakh Personal Loan
- Rs.15 lakh Personal Loan
- Rs.10 lakh Personal Loan
- Rs.5 lakh Personal Loan
- Rs.4 lakh Personal Loan
- Rs.3 lakh Personal Loan
- Rs.2 lakh Personal Loan
- Rs.1 lakh Personal Loan
- Rs.50,000 Personal Loan