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Frequently Asked Questions


Can I get any benefit if I am an existing Kotak Bank current account or savings account customer?

Yes. We offer preferential interest rate, faster processing & doorstep service to existing bank customers while taking our business loan.

What is the minimum turnover requirement for a Business Loan?

For availing Kotak’s business loan, the minimum turnover required is Rs.40 Lakhs.

Which entities can avail a business loan?

Our business loan is for Manufactures, Traders, Self-employed professionals, Restaurants, Hospitals, etc.

Is part payment allowed in a business loan?

No, part payment is not allowed for business loans.

What is the minimum and maximum loan limit offered for a business loan?

Kotak Business Loans range from Rs.3 lakhs to Rs.1 crore. We also offer loans against credit card receivables (FCCR) with a maximum loan amount of Rs.3 crore. 

How long does it take to sanction business loan?

Kotak Business Loans are sanctioned within 72 hours of submitting all the required documents.

** Terms & Conditions apply. Credit at sole discretion of Kotak Mahindra Bank Ltd and subject to guidelines issued by RBI from time to time. Bank may engage the services of marketing agents for the purpose of sourcing loan assets.

What security do I need to provide to obtain a business loan?

Kotak’s Business Loan is a collateral-free loan. It means that if you satisfy the business loan eligibility criteria, you could get the business loan without any collateral. No security is required.

Is the interest rate Fixed or variable for business loans?

Business loans offered by Kotak have a fixed rate of interest.

Are there any foreclosure charges for closure of business loan?

The foreclosure charge is  4% of foreclosure loan amount plus applicable taxes