Personal Loan Interest Rates - Know the Fees & Charges Implied on Personal Loan at Kotak Bank

Fees and Charges

List of The Charges Implied

Knowing the fees and charges not only gives you further details pertaining to your loan, but also helps you plan your finances better. Are you confused about the fees and charges associated with personal loans? Run through the complete list of related costs mentioned below and understand the charges implied on personal loans at Kotak Mahindra Bank.

Loan	Personal Loan
Fixed Interest Rate	Starting 10.75%
Loan Processing Charges	Upto 2.5% of the loan amount+ GST and other applicable statutory levies
Stamping Charges	Applicable as per the respective State's Stamp Act
Credit Administration Charges	Upto 5% of the Loan amount, not exceeding Rs. 7500 (inclusive of GST )
Credit Appraisal Charges	Upto 5% of the Loan amount, not exceeding Rs. 7500 (inclusive of GST )
Overdue Interest	3% p.m 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 GST and other applicable statutory levies)of cheque / instrument dishonour charges+ overdue interest
Dishonour Charges Per Instance	Rs. 750 per instance (inclusive of GST and other applicable statutory levies)
Swap Charges (Change in mode of repayment/Instrument/EMI Date swap)	Rs.500 per Swap per Instance+ GST and other applicable statutory levies
Prepayment Interest / Forclosure Charges	Lock in period for 12^ months. After 12 months, 5% foreclosure charges + GST on principal outstanding.
Duplicate Issue of NOC	Nil
No Due Certificate	Nil
Charges for furnishing a copy of the credit information report (CIBIL) to the applicant.	Rs. 50 + 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.200 per request+ GST and other applicable statutory levies
*Taxes as applicable.^Foreclosure within lock-in period will be granted at the sole discretion of the Bank. Charges if granted will be 6% +GST on principal outstanding.

Documents Required For Personal Loan

The documents required to avail a personal loan from Kotak Mahindra Bank are dependent on many different factors that detail crucial information like identity proof, proof of residence, bank details and business details. As we believe in minimal paperwork, the documentation processes while providing personal loans are smooth and easy.

Find out the detailed list of personal loan documents that are required to avail personal loan.

Know Your EMIs and Available Repayment Options

You can avail attractive interest rate and enjoy different repayment options on Kotak Mahindra Bank personal loan. However, it is only a smarter move to put our EMI Calculator at use, and get a clearer understanding of your EMI figures before taking a personal loan. Calculate your EMI accurately with the help of Kotak Mahindra Bank Personal loan EMI Calculator. Select the loan requirement, get a pre-determined interest rate, and select the loan repayment tenure, between 12 to 60 months and view results in seconds!

Why avail a Personal Loan from Kotak Bank?

Are you looking for a quick personal loan alongside a seamless banking experience? Let us give you 7 good reasons to opt for a personal loan from Kotak Mahindra Bank without any second thoughts!

Browse and apply for personal loan online
Check personal loan eligibility online
Quick and minimal paperwork
Fast approval and speedy disbursal of loan. Disbursal TAT as “within 3 sec” or “in under 3 secs”.
Avail personal loan from Rs.50000 up to Rs.20 Lakh
Attractive interest rate and easy loan repayment options
The ability to obtain personal loan instantly in commercial cities of India.

Know more details about availing a personal loan from Kotak Bank.

Frequently Asked Questions

How can I get a Personal loan in 3 seconds?

All you need to do is check your eligibility for a preapproved loan by clicking here,

select the loan amount, tenure and accept the terms and conditions of the loan and the loan amount will be credited in your Kotak Bank account in 3 seconds. This offer is for preselected Kotak Bank customers and is a limited period offer.