How to get Kotak Bank Personal Loan, Apply, Eligibility, Interest Rate, EMI Calculator, Minimum Salary, Civil Score and more details that we read in this article please read till the last.
If you want to take personal loan from Kotak Bank then this article is for you. As friends you know that Personal Loan is an Unsecured Loan . The lender provides this loan to the customers at his own risk.
In this article, we will know what is Kotak Mahindra Bank Personal Loan (KMBL), up to how much loan amount you can get this personal loan, what is the interest rate of this loan and how can we apply for this personal loan. etc., so you can read this article till the end.
Kotak Mahindra Bank Personal Loan
You can take a personal loan for any of your personal expenses. You can apply for Kotak Mahindra Bank Personal Loan for marriage interest expenses, higher education, child fees, to travel, medical expenses, home renovation and for any of your personal work. You can apply for Kotak Personal Loan both online and offline.
Under Instant Personal Loan from Kotak Mahindra Bank, you can take a loan amount from Rs 50,000 to Rs 20 lakh. You can take this loan for a loan tenure of 1 to 5 years. The bank provides efficient customer service to the people. You can apply for this loan with minimal documentation. The interest rate of Kotak Bank Personal Loan starts from 10.75% per annum.
As friends, you know that personal loan is an unsecured loan which completely depends on the profile of the customer. Your CIBIL Score should be very good to apply for Kotak Mahindra Bank Personal Loan. If your credit score and your income is high then you can take advantage of personal loan up to higher loan amount.
Kotak Personal Loan Overview
- Loan Name: Kotak Mahindra Bank Personal Loan 2024
- Lending Bank Name: Kotak Bank
- Loan Amount : 50,000 to 20 lakhs
- Interest Rate: 10.75% p.a.
- Loan tenure: 1 to 5 years
- Application Mode: Online / Offline
- Processing Fee : Up to 2.5% of the loan amount + GST
- Official Website: https://www.kotak.com/
- Learn Kotak Wiki
Kotak Mahindra Bank Personal Loan Interest Rate 2024
Kotak Bank Persona Loan interest rate starts from 10.75% p.a. before taking personal loan, we need to know about Personal Loan Interest Rate 2024. If you apply for the loan without knowing the interest rate of the personal loan properly, then you may have to face problems at the time of repayment of the loan. Your income, place of residence, age, employment arrangement etc. are the factors affecting the interest rate of personal loan.
Benefits and Features of Kotak Mahindra Personal Loan
- Like other banks, Kotak Bank also provides personal loan to the customers. You can apply for Kotak Bank Personal Loan both online and offline.
- Under Kotak Bank Personal Loan , you can get a loan amount ranging from Rs 50,000 to Rs 20 lakh.
- At present, the interest rate of Kotak Mahindra Bank personal loan starts from 10.75% per annum.
- If you fulfill all the eligibility of the bank’s personal loan and your loan is approved then the loan amount is transferred to your bank account in 3 seconds.
- The bank provides you the facility of part prepayment, if you have extra money then you can reduce your loan burden by doing part prepayment of your loan.
- You can apply for this loan with simple and minimal documentation.
- You can get instant personal loan approval in top commercial and metropolitan cities of India.
- The processing fee on Kotak Bank Personal Loan is up to 2.5% of the loan amount + GST.
- The bank provides you the facility of top-up loan.
- Personal Loan Balance Transfer Facility.
- You can take this personal loan for family marriage, dream vacation, medical expenses, home renovation etc.
Kotak Mahindra Personal Loan Eligibility
You can apply for this loan only when you fulfill all the conditions of this loan. Before applying for this personal loan, you should go to the official website of Kotak Bank and calculate your eligibility with the help of Eligibility Calculator, which will let you know whether you are eligible for this loan or not. To apply for Kotak Personal Loan, you must have the following eligibility:
- All salaried and self-employed individuals can apply for this loan.
- Any resident of India who is an active employee of a multinational company, public or private limited company is eligible for this loan.
- Applicant’s age should be between 21 to 58 years.
- The monthly income of the Corp Cell (Salary with Kotak) should be Rs.25,000.
- Salary should be Rs.30,000 per month for non-corp year.
- Monthly income of Kotak employee should be Rs 20,000.
- The person who has minimum educational qualification graduation is eligible.
- The applicant should be an active resident of any city for at least 1 year.
- Applicant should have minimum work experience of at least 1 year.
Kotak Bank Personal Loan Documents Required
If you are applying for this loan, then you should keep all your documents in advance before applying so that whenever the bank asks for documents from you, you can give them all the documents immediately. There is not much difference in documentation for existing customers and new customers. To apply for Kotak Mahindra Bank Personal Loan, you must have the following documents:
- Proof of Identity – Passport / PAN Card, Aadhar Card, Voter ID, Driving License
- Proof of residence – utility bill, passport or leave and license agreement
- Bank statement of last 3 months along with income statement
- Salary slip of last 3 months
- 2-3 passport size photographs
Kotak Personal Loan Apply
If you fulfill all the conditions of personal loan of Kotak Bank then you can apply for this loan. You can apply both online and offline. Information about the procedure to apply is provided here:
Kotak Mahindra Bank Personal Loan Apply Online
To apply online for this personal loan, follow the steps given below:
- First of all you have to visit the official website of Kotak Mahindra Bank https://www.kotak.com/en/home.htm .
- On the home page of the website, you will see the option of Personal Loan , click on it.
- After clicking, all the information related to personal loan will come in front of you on the next page.
- You have to check this information correctly. To apply, you will see the option of Apply Now on this page, click on it.
- On the next page you will be asked whether you are an existing Kotak customer?, You have to select either Yes and No option.
- After that the registration form will open in front of you.
- Enter all the information asked in the form correctly and submit the form.
- After this the representative of the bank will contact you and proceed with the loan process.
How to apply offline?
- First of all you have to go to your nearest Kotak Bank branch.
- You have to go to the bank and contact the bank representative.
- The bank employee will provide you all the information related to personal loan.
- After that your documents will be verified.
- Then the personal loan application form will be given to you.
- You have to fill the form and attach your documents and submit it to the bank.
- If your loan is approved then the loan amount will be transferred to your bank account.
Kotak Mahindra Bank Personal Loan EMI Calculator
Before applying for a personal loan, you should calculate the EMI (Equated Monthly Installment) of your loan. If you apply for a loan without calculating the EMI of your loan, then you may have to face problems at the time of loan repayment. You can calculate the EMI of the loan by visiting the official website of Kotak Bank with the help of Personal Loan EMI Calculator .
Loan EMI depends on three main factors – loan amount, interest rate and loan tenure. As soon as you click on the link given above, EMI Calculator will open in front of you. In this EMI calculator, you can calculate the EMI of your loan by selecting the loan amount, interest rate and loan tenure.
How to Check Kotak Personal Loan Status?
If you have applied for loan then you can track your loan status online. Apart from this, you can also track the loan status by visiting your nearest bank branch. To check your Personal Loan Status, follow the steps given below:
- First of all you have to go to the official website of Kotak Bank.
- After coming to the website, you have to click on the option of Track Application Status.
- To go directly to this page, click on the link given below –
- Track Application Status
- On the next page you will have to provide some information.
- After entering the information click on submit.
- In this way you can track the status of your loan.
Personal Loan Fees and Charges
Information about the charges for personal loan of Kotak Bank is given to you here:
| Loan processing fee | Up to 2.5% of the loan amount + GST |
| Stamping charges | Applicable as per the Stamp Act of the respective State |
| Credit administration fee | Up to 5% of the loan amount, not exceeding Rs.7500 (inclusive of GST) |
| Credit appraisal fee | Up to 5% of the loan amount, not exceeding Rs.7500 (inclusive of GST) |
| Overdue interest | 3% compounded monthly on the amount due |
| Collection Charges | 30% of check/instrument dishonor fee + overdue interest (including GST and other applicable statutory charges) |
| Disrespect fee per instance | Rupee. 750 (inclusive of GST and other applicable statutory charges) |
| Swap fee | 500 rupees |
| Foreclosure charges | 0 to 12 months: Lock-in period 1 to 3 years: 4% + GST on principal outstanding After 3 years: 2% + GST on principal outstanding |
| Part prepayment fee | Up to 20% is allowed every year after completion of the lock-in period of 12 months. Rupee. 500 + GST |
| Duplicate issue of NOC | Zero |
| No due certificate | Zero |
| Fee for furnishing a copy of Credit Information Report (CIBIL) to the applicant. | Rupee. 50 + GST |
| If the customer requests for copies of records relating to his transactions (SOA / Amortization Schedule) | Rs 200 per request + GST |
Kotak Personal Loan Customer Care Number
If you are facing any kind of problem in applying for Kotak Mahindra Bank Personal Loan or you want to get other information about this loan, then you can get information by calling Kotak Mahindra Bank Personal Loan Customer Care Number.
| Kotak Number | Team | Working window |
|---|---|---|
| 1860 266 0811 | 811 | 9.30am to 6.30pm (Monday to Saturday excluding holidays) |
| 1860 266 2666 | Bank and Credit card | 24*7 |
| 1860 266 2666 | Personal and Home Loan | 9.00am to 6.00pm (Monday to Saturday excluding holidays) |
| 1800 209 0000 | Fraud or any unauthorized transaction in your Account / Credit Card | 24*7 |
Conclusion:
In this article, we have provided you complete information about Kotak Mahindra Bank Personal Loan. By reading this article, you can get personal loan up to Rs 20 lakh from Kotak Bank.
Hope you friends have found this article informative. If you liked this article then please share it with your friends. If you have any suggestion then you can write us in comment.
FAQs on Kotak Bank Personal Loan
What is the interest rate on Kotak Bank personal loan?
The interest rate of this loan starts from 10.75% per annum.
How much loan can I get under personal loan from Kotak Mahindra Bank?
50,000 to 20 lakhs.
How to apply for Kotak Mahindra Bank Personal Loan?
Complete information about how to apply is given in this article. You can apply for this personal loan by reading this article.
How to take personal loan from Kotak Mahindra Bank?
You have to apply to take loan from Kotak Bank. You can apply for this personal loan through this article