Personal Loans Personal Loans FAQs
FAQs

Key Features

  • Avail loans from Rs.50,000-50 lakh
  • Quick approval & hassle-free processing
  • Minimal paperwork
  • Flexible repayment options
  • Repay with easy EMIs
  • Convenience of service at your doorstep
Frequently Asked Questions

 

 

 

  • What is a Jaldi Loan? Jaldi Loans are the easy fast Personal Loans offered to you by Kotak Mahindra Bank. You can use it for anything at all - to renovate your home, your child's education or for a celebration in the family. These loans range from Rs Rs.50,000 to 50 lakh* and are flexibly repayable in 12 to 60 months for Salaried individuals and Professionals / Self employed businessmen from 12-36 months.
  • How much is the loan amount that I can get? You can avail of a loan from Rs.50,000-50 lakh* based on your income and repayment capacity. You can club the income of your spouse to increase your loan amount.
  • How many days does it take to process the loan? On submission of your entire documents in accordance with the Bank requirements it takes 72 hours. All loan approvals are at the discretion of the Bank.
  • In whose name is the loan sanctioned? Is a third party cheque possible? The Jaldi Loan cheque can be drawn either in the customer's own name or can be drawn on any third party's name as requested by the customer while signing up the agreement.
  • How do I repay the loan? You can repay the loan over a period of 12-60 months in case if you are salaried or 12-36 months incase of you are a Self Employed Professional/Self Employed Businessman. Equated Monthly Installments (EMIs) can be paid either by post dated cheques, or through ECS facility.
  • What does the down payment cheque include? The down payment cheque includes one monthly installment and service charge (which is a one time charge).
  • Do I have to offer any security or provide any guarantor for my Personal Loan? To obtain the loans there is no need to provide any security or collateral.
  • Can I repay the loan earlier? You can choose to repay the loan anytime after 6 months of availing the loan at a prepayment penalty of 4% on the principal outstanding of your Loan.
  • I do not want to avail a loan with my income documents? You can avail of pre approved loans upto Rs.10 lakh without submitting any income documents :
    • If you are a Personal / Auto / Car/ User Car Loan customer for the last 12 months.
    • If you are a credit card holder for at least 13 months.
    • If you hold a insurance policy which is 2 years old and pay an annual premium of Rs.20,000.
    • If you enjoy an OD / CC facility of more than 10 lakhs from any Nationlised / Foreign / Private banks.