Personal Loan - Apply for Instant Personal Loan Online | Up to Rs. 40 Lakh
  • Personal
  • Business
  • Corporate
  • Private Banking
  • Privy League
  • NRI Services
  • Investors
  • Personal
  • Business
  • Corporate
  • Private Banking
  • Privy League
  • NRI Services
  • Investors
Apply Now
Apply for Personal Loan - Kotak Bank

Personal Loan upto ₹40 Lakhs with Instant Disbursal

Loan Amount
Interest Rate (% P.A.)
Tenure (Years)

Personal Loan

With Kotak's digital Personal Loans, step into a world where your aspirations know no bounds. Is the latest gadget still lying in your cart? Wondering how long will it take before your #DreamVacation becomes a reality? Or are advanced courses for upskilling the way ahead? Or is a filmy-style glam wedding on your mind? Whatever be your needs, a Kotak Personal Loan could be your solution to get access to quick funds.

Flexibility and convenience go hand-in-hand with Kotak Personal Loans. Take it easy with repayment tenure of up to 6 years without the hassle of heavy documentation or collateral. Just breeze through an easy application process, and you're all set. Want more reasons to go with Kotak for personal finance? Read on.

Features and Benefits of Personal Loan

Apply for Instant Personal Loan from Kotak


1. Start Your Application

This initial step is about assessing your loan eligibility. It's quick, easy, and the first step towards getting your funds


2. Get Your Customised Offer

This part of the process ensures what you get aligns perfectly with your financial situation and requirements.


3: Finalise Your Loan

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.

Want to Take the Big Leap? Get Personal Loan of Up to ₹40 Lakh

While money can't buy happiness, it can surely take you a few steps closer! At Kotak, we understand this. Be it an instant loan or something more substantial, we have a key for every lock!

Our collateral-free Personal Loan up to ₹ 40 lakh is the answer you may have been waiting for. Why dip into savings or break big investments when you can plan smartly with us? All you have to do is meet basic eligibility criteria and have a good credit score, and you will be well on your way to financial independence. And so much closer to turning your dream into a reality.

The best part? Use your loan for anything – home improvements, debt consolidation, medical needs, kick-starting a business, or even splurging on a super luxe item.

Keep These Documents Handy*

● A valid identity proof like your PAN Card, Passport, Aadhaar Card, Voter's ID Card or Driving License
● A valid residence proof like your Passport, Aadhaar Card, Driving License
● Three months' bank statements with your income details
● For salaried individuals, 3 months salary slips 
● 2-3 recent passport-sized photographs

* Indicative documents. This may vary depending on individual applications

Get a Pre-Approved FastTrack Personal Loan from Kotak

If your financial needs are pressing and need immediate addressing, this one’s for you. A minute means you’ve got more than enough time to get a Pre-Approved Personal Loan from Kotak. Our eligible salaried customers can apply through a completely digital and hassle-free process with additional benefits like:

If you’re eligible, the funds are as good as yours: just click below to know.

Get Instant Personal Loan up to ₹5 Lakh in 30 Minutes

We get it – life can and does throw many curveballs. For those urgent financial needs that leave you with little prep time, Kotak offers Instant Personal Loans up to ₹ 5 lakh with repayment tenures of up to 4 years. Be it a small investment opportunity, educational expenses, urgent repairs, a quick getaway, a new bike or scooter, we're here for you. Quick, easy, and hassle-free – Get your instant loan disbursed within 30 minutes after completing just three easy steps online.

Documents required:

● PAN Card
● Aadhaar Card*
● Three months' bank statements or salary slips

With these easy steps and minimal documentation, get ready to welcome the financial support you need without hassle.

* Providing Aadhaar is voluntary

Personal Loan EMI Calculator

Loans are a responsibility – we get that, and so do you. Use Kotak's Personal Loan EMI Calculator to plan your finances smartly. Your EMI amount is calculated based on your loan amount, the repayment tenure you choose, and the interest rate. Just a few details, and you'll know exactly what you're signing up for. Take the guesswork out of your financial planning. Calculate your Personal Loan EMI

Personal Loan Interest Rates and Charges

Here’s the rundown on 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 3% of the final loan amount plus taxes. Will be deducted from the loan amount at the time of disbursal.

Penal charges on Overdue EMI

Amounts standing unpaid on respective due dates shall attract penal charge at 8% per annum (to be charged for actual no. of days) on overdue amount plus applicable taxes

Swap charges, i.e. charges for change in repayment mode, repayment instrument or EMI date

INR 500/- plus taxes per instance

EMI dishonour/Bounce charges

INR 750/- plus taxes per instance

Lock-in period 

No lock-in period for Kotak Personal loans post payment of first EMI. 

Foreclosure Charge

Upto 3 years - 4% + taxes on outstanding principal
After 3 years - 2% + taxes on outstanding principal

Part pre-payment charges

For loans disbursed on or before - 1st February 2020 - Part Pre payment is not allowed, For loans disbursed after 1st February 2020. Post completion of 12 months -Part-Prepayment is allowed up to 20% of Principal loan outstanding.

It is allowed once a year. Charge per instance of part payment is INR 500 plus taxes

Physical SOA or Amortization schedule

Once in a year- No charge. Post that - INR 200 plus taxes per request

Disclaimer: The aforementioned fees and charges are mostly excluding GST and other statutory levies. In some charges, the GST is included while in others additional GST would be applicable. The fees and charges are subject to be revised by Kotak Mahindra Bank from time to time. If there are any changes in the fees and charge structure, the same would be intimated to the borrower and updated on the website.

Personal Loan Eligibility Criteria

Our eligibility criteria are straightforward and ensure you have the most hassle-free loan processing.

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 required
Work Experience At least one year of work experience is required

The Do’s and Don'ts while applying for a Personal Loan

At Kotak, we strive to make convenience a constant in our services. Applying for a Personal Loan is a big step. We get this, and hence, we've compiled a list of do's and don'ts to make this journey hassle-free for you.


  • ✔ Research your options
  • ✔ Check and improve your credit score
  • ✔ Budget wisely
  • ✔ Use our calculators for the best plan
  • ✔ Gather your documents


  • ╳ Skip the fine print
  • ╳ Apply for multiple loans
  • ╳ Borrow more than necessary
  • ╳ Miss or delay repayments
  • ╳ Apply without a clear purpose

Stay transparent and explore all your options before diving in. Here's to making informed financial decisions!

Quick & Easy In-principle sanction through Chat

Apply Now

Applied Recently? Check your Application Status

Check Status

Get Personal Loan near your locations

Customer speak

Ready to take the next step?


Frequently Asked Questions

How can I get a Personal Loan immediately?

To get a Personal Loan immediately, apply online. Securing a Personal Loan online swiftly is a hassle-free process with Kotak Mahindra Bank. Here are the steps.

1. Visit Our Website/App
: Visit the Kotak Mahindra Bank website or mobile app, go to the Personal Loan section and click Apply Now.

2. Fill in the Application: Complete the online application form by entering your personal and financial details.

3. Document Submission: Upload the necessary documents digitally. This convenience speeds up the verification process.

4. Instant Approval and Disbursal: Our efficient evaluation process allows instant approval. After approval, the loan amount is disbursed to your account, often within a few hours.

Before applying, use our Personal Loan EMI Calculator to calculate your EMIs based on the loan amount, tenure and interest rate.

Can I get a Personal Loan without a salary slip?

Yes, Kotak Mahindra Bank offers the convenience of pre-approved Personal Loans for our existing customers, even without the need for a salary slip.

These pre-approved loans are designed to provide quick financial assistance based on your relationship with the bank and your financial history with us. It simplifies the personal loan application process, making it faster and hassle-free, as the bank already possesses your financial details and repayment capacity.

Which Personal Loan mobile banking app gives loans very fast?

If you urgently need financial assistance, Kotak Mahindra Bank's mobile banking Personal Loan app is the solution you're looking for to secure an instant Personal Loan quickly. Let's see how it works.  

1. Quick Application
: Our mobile banking Personal Loan app eases your loan application process, allowing quick application submission directly from your smartphone.

2. Instant Decision Making: Our mobile banking app is engineered to provide instant Personal Loan decisions, leveraging advanced algorithms to assess your application in real-time and offer immediate approval.

3. Simplified Documentation: Our mobile banking app minimises the hassle by reducing the documentation required for loan approval, facilitating quicker verification.

4. Rapid Disbursal: Upon approval, the loan amount is swiftly disbursed into your account, ensuring you can access the funds you need without delay.

Is insurance mandatory for Personal Loan? Is insurance included in deductions or in EMI?

At Kotak Mahindra Bank, while opting for an instant Personal Loan, insurance is not mandatory but highly recommended as a financial safety net. Here's how it works in relation to your loan

1. Insurance Coverage
: When you apply for a personal loan online, considering insurance can be a prudent step in safeguarding your financial well-being. Insurance for a personal loan provides coverage in events like accidental death, permanent disability, or loss of employment. In the unfortunate event of such occurrences, the insurance ensures that the loan is repaid without placing undue financial strain on the borrower's family.

2. EMI and Insurance: When you utilise our Personal Loan EMI Calculator, it helps you understand your monthly repayment amount. However, the cost of insurance is not typically included in your EMI. If you opt for loan insurance, the premium may be charged as a separate, one-time fee or added to the total loan amount, depending on the policy terms.

3. Flexibility and Choice: We at Kotak Mahindra Bank offer you the flexibility to choose your insurance provider.  

Is there any discount on the interest rate or processing fees applied if I take the Personal Loan online or at a branch?

At Kotak Mahindra Bank, we are committed to offering our customers the best possible deals on Personal Loans in India, whether they choose to apply online or visit one of our branches. Here's what you need to know about discounts on Personal Loan interest rates and processing fees:


● Online Personal Loan Application Benefits: Applying for a Kotak Personal Loan online can benefit you, as we often run special promotions that include competitive Personal Loan interest rates or the lowest processing fees exclusively for online applicants.

● Staying Informed: We recommend visiting the Kotak website regularly or contacting our customer service to stay updated on the latest offers and promotions.

Is there any stamp duty applicable for taking Personal Loan?

Stamp duty is a legal tax you pay on paper transactions that legally record any agreement or transaction. For Personal Loans, the amount of stamp duty can vary based on the state's laws in which you sign the loan agreement.

While the Personal Loan interest rate and eligibility criteria for Personal Loans are standard considerations, stamp duty might not always be top of mind but is an essential aspect of the borrowing process.

At Kotak Mahindra Bank, we emphasize transparency, especially when you opt to apply for a personal loan online. This includes a thorough breakdown of all potential costs associated with your Personal Loan, such as any applicable stamp duty. Stamp duty rates, governed by state legislation and not by the bank, are usually a nominal percentage of your loan amount.

Is there any option to get the processing fees waived?

Meeting specific Instant Personal Loan eligibility criteria for applying during a promotional period are common ways borrowers can benefit from waived processing fees. 

Here are some ways:

1. Promotional Offers
: Keep an eye on our website or sign up for notifications to stay informed about promotional periods when we offer reduced or waived processing fees when you apply for Personal Loan


2. Special Conditions: There may be opportunities to negotiate the waiver of processing fees for existing customers or those who meet specific Personal Loan eligibility criteria. This is assessed on a case-by-case basis, considering your relationship with the bank and other relevant factors.

3. Direct Inquiry: We at Kotak Mahindra Bank encourage you to contact us through our website or customer service channels to inquire about any ongoing offers or possibilities of waiving processing fees based on your specific situation.

What documents should be kept handy for new and existing customers?

When applying for a Personal Loan, whether you're a new or existing customer, having the proper documents ready can ease the process significantly.

The document requirements for Personal Loan at Kotak Mahindra Bank include identity, address and income proof. Also, you should have a good credit score, preferably 750 or more, to get the best Personal Loan interest rate.

We at Kotak Mahindra Bank aim to make your Personal Loan application process as hassle-free as possible. For a detailed list of documents and any further assistance, please visit our website or contact our customer service.

What is a personal loan?

A personal loan is a multipurpose loan that allows funds for varied financial uses.

The loan is unsecured and has an easy application process to avail of the funds efficiently.

How do I check the status of my personal loan?

You can visit Kotak Mahindra Bank’s website and, under the “Service Request’ tab, you can check the status of your personal loan.

Page also available in: हिन्दी - Hindi