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Experience the all-new Kotak Netbanking Lite
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With Kotak Mahindra Bank's Personal Loans, you can make all your aspirations a reality! Apply for a Personal Loan online and unlock a world of endless possibilities where your dreams know no bounds. Whether you've been eyeing the latest gadget, planning an exciting dream vacation, upskilling with advanced courses, or dreaming of a grand wedding, Kotak Mahindra Bank's instant Personal Loan is here to help. Our hassle-free personal loan application process ensures you get the funds you need in no time. So, why wait? Apply for a Personal Loan to get instant approval and step closer to achieving your goals!
Flexibility and convenience go hand-in-hand with Kotak Mahindra Bank’s easy Personal Loan up to ₹35 Lakhs. Take it easy with repayment tenure up to 6 years without the hassle of heavy documentation or collateral with an interest rate starting at 10.99%*. Just breeze through an easy online loan application process, and you're all set.
For example, if you apply for a personal loan of ₹1 lakh from Kotak Mahindra Bank for 4 years at an interest rate of 10.99%*, your EMI would be ₹2,584.
No need to mortgage property
Maximum up to ₹ 35 lakhs can be availed for 1 to 6 years
Attractive rate of interest, starting at 10.99% p.a
Easy documentation with video KYC using Aadhaar card
How to Apply for Personal Loan With Kotak Mahindra Bank - 3 Easy Steps
This initial step is about assessing your loan eligibility. It's quick, easy, and the first step towards getting your funds
This part of the process ensures what you get aligns perfectly with your financial situation and requirements.
The last step is all about making it official. e-Sign your loan agreement to confirm your acceptance. To add to your ease, we also set up an auto-repayment so you never miss a date.
Kotak Mahindra Bank offers quick and easy access to funds for your personal needs. With easy documentation and a hassle-free application process, you can get a loan up to ₹35 lakhs.
| Eligibility Criteria | Requirement |
|---|---|
| Nature of Employment | Salaried - MNC, public limited company, or private limited company |
| Age | 21 years to 60 years |
| Minimum Monthly Income | - Kotak Bank Salary Account holders: ₹ 25,000 minimum net monthly income - Non-Kotak Bank Salary Account holders: ₹ 30,000 minimum net monthly income - Kotak Bank employees: ₹ 20,000 minimum net monthly income |
| Minimum Educational Qualification | Graduation / Diploma |
| Work Experience | At least one year of work experience is required. |
| CIBIL Score | A CIBIL score of 730 or above is generally considered good for approving a personal loan. |
Visit our personal loan eligibility page to know more.
Visit the personal loan documentation page to check the documents list in more details.
Here’s the rundown on Personal Loan interest rates and charges.
| Features | Rate/Charge |
|---|---|
| Personal Loan interest rate (Fixed) | Starting from 10.99% p.a. |
| Loan processing fees (Non Refundable) | Up to 5% of the final loan amount plus taxes. Will be deducted from the loan amount at the time of disbursal. |
Visit the personal loan fee and charges page to know more.
If your financial needs are pressing and need immediate addressing, this one’s for you. An instant loan means you have more than enough time to get a Pre-Approved Personal Loan from Kotak Mahindra Bank.
Our eligible salaried customers can apply for an instant personal loan online through a completely digital and hassle-free process.
Be it educational expenses, home repairs, travel getaway, dream wedding, new bike or scooter, we're here for you.
Quick, easy, and hassle-free – Get an instant Personal Loan online instantly after completing just three easy steps online via Kotak Mahindra Bank Net Banking.
Step 1: Check Eligibility & Confirm Details,
Step 2: Accept Offer Online,
Step 3: Instant Disbursal.
If you’re eligible, the funds are as good as yours. Just click below to know.
| Features | Rate/Charge |
|---|---|
| Personal Loan interest rate (Fixed) | Starting from 10.99% p.a. |
| Loan processing fees (Non Refundable) | Up to 5% of the final loan amount, plus taxes, will be deducted from the loan amount at the time of disbursal. |
Facing a mid-month cash crunch or an emergency at month-end? A short-term loan can be your saviour! With PayDay loans at Kotak Mahindra Bank, you can get instant cash with just a few clicks and repay it when your salary is credited.
Loans from Rs.3,000/- upto Rs. 1.5 lac
Attractive interest rates
Instant online Disbursal to your Kotak Bank account
No Documentation for availing the loan. No need to give any postdates cheques
Available Online only
| Eligibility Criteria | Requirement |
|---|---|
| Nature of Employment | Salaried - MNC, public limited company, or private limited company |
| Age | 21 years to 58 years |
| Minimum Monthly Income | Kotak Bank Salary Account holders: ₹ 10,000 minimum net monthly income |
| Type | Interest/Charges |
|---|---|
| Interest rate | 10% per annum |
| Loan Processing Fees | As per loan amount starting at Rs.150/- onwards only |
| Stamping Charges | Applicable as per the respective State's Stamp Act |
| Penal charges on Overdue EMI | Amounts standing unpaid on respective due dates shall attract penal charge at 8% per annum plus applicable taxes (to be charged for actual no. of days) on overdue amount |
| Bounce charges | INR 750 per instance (Inclusive of applicable taxes) |
Quick & Easy In-principle sanction through Chat
Applied Recently? Check your Application Status
A Personal Loan is a flexible financial solution that meets various personal needs. It is an unsecured loan, which means that you don't need to pledge any collateral, and it features a simple application process for accessing funds quickly.
To check the status of your Personal Loan application, visit the Kotak Mahindra Bank website. Go to the "Track Application Status" tab or click here. Enter your name and mobile number as per the application and track the status of your loan.
Getting a Personal Loan from Kotak Mahindra Bank provides flexible funding for various needs, such as weddings, home renovations, travel, and medical emergencies. Since it is an unsecured loan, you do not have to worry about pledging any asset, making these loans accessible to a broad category of applicants. Our streamlined processes ensure quick loan disbursement, making a Personal Loan a practical choice for managing your financial requirements.
At Kotak Mahindra Bank, you can get instant approval for Personal Loans. If you meet the eligibility criteria and submit the required documents, you can expect approval within 24-72 hours. Additionally, you can get a pre-approved Personal Loan if you are an existing customer.
No, you do not need to provide any security or collateral to apply for a Personal Loan, as it is unsecured. However, you must fulfill the eligibility criteria.
Several factors, including your credit score, income level, loan amount, and tenure, determine a Personal Loan's interest. These details are used to calculate the rate of interest applicable to your loan. Meanwhile, the Personal Loan interest rates start at 10.99% per annum.
Kotak Mahindra Bank’s Personal Loan offer comes with minimal documentation and hassle-free processing. Our interest rates start from 10.99% per annum, and we provide flexible repayment tenures of up to 6 years. Utilise our Personal Loan EMI calculator to plan your finances effectively.
To secure a Personal Loan quickly via the Kotak Mahindra Bank personal loan app, start by submitting your Personal Loan application through the app. The process is fast and requires no documentation. If you are a pre- Approved customer, you can receive instant disbursement of funds directly into your Kotak Bank account.
Insurance is optional but recommended when taking out a Personal Loan to protect against unforeseen circumstances. The insurance premium is separate from the EMI and can be paid as a one-time fee or included in the loan amount, depending on your choice of provider.
Both new and existing customers should have identity, address, and income-proof documents. Acceptable documents include
You can get an instant loan within minutes with Kotak Mahindra Bank's pre-approved Personal Loans. Eligible salaried customers can get an instant Personal Loan without documents through a completely digital and hassle-free process.
Here's how to know if you're pre-approved and get an instant loan online:
Disclaimer (Things you should know):
For loans: Credit at the sole discretion of the Bank 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.
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