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Personal Loan can help you meet unexpected expenses such as wedding expenditure, school or college fees, dream vacations, home renovation projects or even for the purchase of consumer durables. Applying for a personal loan is a lot easier, quick, and convenient with Kotak Mahindra Bank.
Instant Personal Loan
from Rs. 50,000 to Rs. 15,00,0001
Flexible repayment options
Attractive interest rates
You can apply for a personal loan online and get instant solution to all your immediate financial needs. Kotak Mahindra Bank can help you to get a personal loan in the most hassle-free manner because of the following:
Quick Online Approval for Personal Loan
We offer complete online Personal Loan solutions that include assistance and information about Personal Loan documents, eligibility criteria, disbursal and application of approval. By choosing Kotak Mahindra Bank for a personal loan you can get quick approvals and disbursal in your bank, through our online facility. All you need to do is follow a simple procedure, fill an online form and check your Personal Loan eligibility online. After approval, a Kotak Mahindra Bank representative will contact you and collect all the Personal Loan documents that are required.
Personal Loan Eligibility up to Rs.15 Lakh
You can apply for a Personal Loan online from Kotak Mahindra Bank up to Rs.15 lakh at attractive interest rates and avail our flexible repayment options.
Check out the amount of EMI you have to pay for your personal loan by using our Personal Loan calculator.
Personal Loan on Minimal Paperwork
At Kotak Mahindra Bank we believe in minimal paperwork, which results in approval of personal loans swiftly. Quick approval means less hassle for you and moreover a satisfied customer for us.
Credit is at the 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 purposes of sourcing loan assets.
Avail Kotak Bank's personal loans in Mumbai, Bangalore (Bengaluru), New Delhi (Delhi), Chennai, Kolkata, Hyderabad, Pune, Ahmedabad, Noida, Gurgaon, Faridabad, Ghaziabad, Jaipur, Chandigarh and Kochi
The eligibility to avail Personal loans is as follows :
All Indian residents who are employees of either MNCs, Public and Private limited companies with a minimum age of 21 years and maximum age of 58 years are eligible for a personal loan.
Other Personal loan eligibility criteria :
|Interest Rate||10.99% to 24%|
|Loan Processing Charges||Upto 2.5% of the loan amount+ service tax / GST and other applicable statutory levies|
|Stamping Charges||Applicable as per the respective State's Stamp Act|
|Credit Administration Charges||-|
|Credit Appraisal Charges||Upto 5% of the Loan amount, not exceeding Rs. 7500 (inclusive of GST / Service tax)|
|Overdue Interest||3% of Overdue Amount, compounded monthly on the amount due but unpaid from the date of the amount falling due till the date of actual payment|
|Collection Charges||30% (inclusive of service tax / GST and other applicable statutory levies)of cheque / instrument dishonour charges+ overdue interest|
|Dishonour Charges Per Instance||Rs. 750 per instance (inclusive of service tax / GST and other applicable statutory levies)|
|Swap Charges( Replacement of PDCs)||Upto Rs. 500 per Swap per Instance+ service tax / GST and other applicable statutory levies|
|Prepayment Interest / Forclosure Charges||Lock in period for 12 months. After 12 months, 5% foreclosure charges + service tax / GST on principal outstanding|
|Duplicate Issue of NOC||Rs. 500 + service tax / GST and other applicable statutory levies per instance|
|No Due Certificate||Rs. 500 + service tax / GST and other applicable statutory levies per instance|
|Charges for furnishing a copy of the credit information report (CIBIL) to the applicant.||Rs. 50 + service tax / GST and other applicable statutory levies per instance|
|Charges applicable in case customer requests for copies of records pertaining to his transactions ( SOA / Amortization Schedule)||Once yearly without any charge. Post that Rs. 250 per request+ service tax / GST and other applicable statutory levies|
|Part Foreclosure Charge||-|
|Payment Processing Charge||-|
|Valuation Charges for Used/RF Vehicles||-|
|Credit Adminstration Charges||-|
|Duplicate Foreclosure Statement Charges||-|
|NOC for National Permit||-|
|NOC for State Permit||-|
|NOC for Change in Body Type||-|
|Rebooking of Personal Loans (due to change in borrowing structure, change of property / Asset / Collateral etc.)||-|
|Change in Installment Due Date||-|
|Change in Property / Asset / Collateral||-|
|Copy of Any Property/Loan Document||-|
|Asset Verification Charges - Immovable Assets||-|
|Legal / Incidental Charges*||-|
|NOC to Convert From Private to Commercial Registration||-|
|NOC to Convert From Commercial to Private Registration||-|
|Re-issuance of Pay Order||-|
|Non Compliance with Sanction Terms and Conditions||-|
|End-use Certificate Delays||-|
|Net Worth Statements Delays||-|
|*Taxes as applicable|
|"Blank / -" denotes that these charges are not applicable to the concerned business division|
(Original for verification and self-attested copies for submission)
Life is as unpredictable as it gets. Our easy Top Up on Personal Loan helps you meet the new expenses with no worries.
To apply simply SMS 'PLTOPUP' to 5676788
Benefits of Top-up loan:
It is never too late for shifting to a better bank with lower interest rate for your Personal Loan. That's not all, you can also avail additional funds for your personal or business needs.
To apply simply SMS 'PLBT' to 5676788
Benefits of Balance Transfer:
*Conditions apply: Credit at the sole discretion of the Bank and subject to guidelines issued by the RBI from time to time. Bank may engage the services of marketing agents for the purpose of sourcing loan assets.
Personal Loan EMI calculator helps you to determine the monthly instalment to be paid. You can input the personal loan amount and tenure in the EMI calculator to see the EMI that you have to pay towards your personal loan amount.
Following are the procedures:
We do not offer a part prepayment facility on your personal loan account.
Yes, it is possible to change the Installment date. The dates available are 5th and 10th.
PDC's need to be swapped at least 7 working days pre/7 working days post the Installment date.
You need to do the followings:
The last thing you would want to worry about mid-holiday, is having to clamp down on certain plans and activities, due to budget restrains