Personal Loan - Apply Personal Loan Online at Low Interest Rates - Kotak Mahindra Bank
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Apply for Personal Loan - Kotak Bank

Personal Loan

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

Own Your Goals: Get there Faster with Kotak 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.

Why #GoKotak for Personal Loans?

Features & Benefits of Personal Loans 

Opt for a Kotak Personal Loan online and say yes to a world of perks and benefits.

● Get loan amounts of up to ₹ 40 lakh
● Pre-approved loans for existing Kotak customers disbursed within a minute
● Zero collateral requirements
● Get flexible repayment options from 1 to 6 years
● Enjoy attractive interest rates starting from just 10.99%* p.a.

● Approval for loans up to ₹ 5 lakh within 30 minutes
● Experience the ease of digital KYC and video verification
● Have the freedom to use your loan for absolutely anything 

Want to Take the Big Leap? Get a 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.

Instant Personal Loan Up To ₹ 5 Lakh At Your Fingertips! No Waiting; Just Get It In 30 Minutes With Kotak

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

As breezy as 1-2-3: Your quick personal loan guide

Securing your Instant Personal Loan from Kotak is a breeze.


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.

Plan ahead with our 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.

Competitive Interest Rates and Charges

Here’s the rundown on interest rates and charges.

Features Rate/Charge
Interest Rate for Personal Loan
Starting from 10.99% p.a.
Loan Processing Charges Up to 3% of loan amount + Applicable Taxes
Prepayment Charges Varies based on loan disbursement date, with a maximum of 20%
of Principal loan outstanding. ₹ 500 + taxes for each prepayment.
Repayment Mode Swap Charges ₹ 500 + Taxes per instance
EMI Bounce Charges ₹ 500 + Taxes per instance
Foreclosure Charge - Up to 3 years: 4% + GST on outstanding principal
- After 3 years: 2% + GST on outstanding principal

Eligibility Criteria Your Path to Personal Loan Approvals

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

Boost your loan chances of approval - The do's and don'ts

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!

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Frequently Asked Questions

What can a personal loan be used for?

Personal loan requires no collateral, and that’s why it is an unsecured loan. It can be used to fulfill many of your day-to-day as well as emergency needs. Kotak Mahindra Bank provides the borrowers with loan amounts from Rs. 50,000 to Rs. 40 lakhs. So, whether your expenses are small or big, our personal loan can come in handy at the time of your need.

You can plan that dream wedding with the help of Kotak Bank’s marriage loan. Or use our travel loan to rejuvenate at your favourite holiday destination. Renovate your home and transform your living space with a home renovation loan from Kotak Mahindra Bank. You can even take care of unplanned expenses such as medical emergencies with Kotak’s medical emergency loans. No need to dip into your hard-earned savings to meet your financial needs.

How is the Personal Loan interest rate calculated?

Personal Loan interest rate is the amount a lender charges you every month for borrowing money from them. You can easily calculate Personal Loan interest rate using a Personal Loan calculator.

You can easily calculate Personal Loan Interest Rate using a Personal Loan Calculator.

Does a personal loan affect your credit score?

A personal loan can impact your CIBIL score for personal loan either negatively or positively. If taken while already in debt, it can have a negative impact. At the same time, its timely repayment will boost your overall score.

If taken while already in debt, it can have a negative impact, while its timely repayment will boost your overall score.

What are the benefits of availing of a personal loan from Kotak Mahindra Bank?

Kotak Mahindra Bank’s personal loan is available within the shortest possible time, and the documentation is minimal and hassle-free. 

Interest rates start from 10.99% p.a., and the personal loan charges are also low. You can use the personal loan EMI calculator to make the loan affordable. Moreover, the prepayment facility helps you reduce the loan burden whenever you have additional funds.

Can I apply for a small personal loan online?

Since it requires no collateral, you can apply for a small loan through a simple online process. Please remember that, we only offer personal loans to salaried individuals.

Please do keep in mind that certain institutions only offer personal loan to salaried individuals.