Personal Loan Interest Rate
Interest Rate@ 9.98% P.A* | Processing Fees Upto 5%*

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Interest Rate@ 9.98% P.A* | Processing Fees Upto 5%*
Kotak Mahindra Bank offers attractive personal loan interest rates Starting from 9.98%. Whether you're exploring the standard personal Loan interest rate or seeking a low-interest rate, Kotak Mahindra Bank stands by your side. For detailed insights about personal loan interest rates, refer to the table below.
Personal Loan Credit Facilities |
Interest Rate and Charges Applicable |
---|---|
Personal loan interest rate (Fixed) |
Starting from 9.98% per annum |
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. |
Get in touch with us to learn more about the latest Personal Loan interest rates, fees & charges and explore the range of low-interest Personal Loans we offer. Or you can call us
at 18602662666.
Minimum ₹ 50,000
Minimum 9.98%
Till March 2025
Get Personal loan online upto ₹35 Lakhs at 9.98% interest for upto 6 years.
Apply NowWhen considering a Personal Loan, understanding the Personal Loan interest and Personal Loan rates is very important. In India, Personal Loan interest rates vary greatly, and opting for a low-interest Personal Loan can significantly reduce your financial burden. By comparing different Personal Loan offers and their interest rates, you can choose a loan that best fits your budget and repayment capability.
1. EMI Calculators: Using a Personal Loan EMI Calculator can be immensely helpful in planning and managing your Personal Loan repayments effectively. This user-friendly tool simplifies the process by allowing you to input the loan amount you wish to borrow, your desired loan tenure, and the preferred rate of interest. It immediately calculates the EMI (Equated Monthly Instalment) for your Personal Loan, clearly providing your monthly financial commitments over the chosen repayment period.
Steps to Calculate personal loan interest with Kotak Personal Loan EMI Calculator
This will automatically reflect the Interest Payable
2. Manual Method: For those who prefer a hands-on approach, there's a straightforward mathematical formula you can use to manually calculate your Personal Loan interest and EMI.
EMI = P*r*(1+r)^n/((1+r)^n-1)
In this formula, 'P' stands for the Principal Amount, 'r' is the Rate of Interest, and 'n' is the tenure of the loan.
As you adjust any of these three variables - the principal, rate, or tenure - the EMI will change correspondingly, giving you the flexibility to plan your finances accurately.
Understanding what plays on interest rates for a Personal Loan is key to securing the best deal. At Kotak Mahindra Bank, we consider several factors when determining the interest rate on a Personal Loan.
1. Credit Score and History: A higher credit score can lead to the best interest rate. A consistent repayment history and a good credit score often result in lower interest rates.
2. Income and Employment Stability: A steady income and a stable job enhance your chances of getting the lowest interest rates.
3. Existing Financial Obligations: Your current debts and liabilities are considered to determine the Personal Loan interest rates in India. Higher existing debts might lead to a higher interest rate due to increased risk.
4. Relationship with the Lender: Long-term customers with a good banking relationship might secure more favourable terms.
5. Market Trends and RBI Policies: External financial factors and RBI policies influence the overall interest rate scenario in the market. Changes in repo rates and other economic indicators can affect interest rates.
Securing a low interest rate Personal Loan can make a significant difference in managing your financial obligations more effectively. Achieving the lowest possible rate involves a few strategic steps that, when executed well, can ease the repayment burden considerably.
The Personal Loan minimum interest rate often varies depending on your credit score and credit history, income, loan amount and tenure. You can check your loan eligibility and get an estimate of your monthly EMI upon your required loan with the Kotak Personal Loan Calculator.
The interest rate on a Personal Loan is the cost you pay each year to borrow money, expressed as a percentage of the loan amount. It varies by lender, your creditworthiness, and market conditions. At Kotak Mahindra Bank the current personal loan interest rate starting from 9.98% p.a.
Kotak Mahindra Bank provides Personal Loans to our eligible applicants at a minimum interest rate of 9.98% per annum. For a 10 lakh personal loan EMI for 5 years will be ₹21,737 per month.
The personal loan interest rate at Kotak Mahindra Bank starts from 9.98% per annum. Check your eligibility before applying.
For eligible applicants, personal loan interest rates start from 9.98% per annum at Kotak Mahindra Bank. Check your eligibility.
A good interest rate on a personal loan depends on various factors, including your credit score, income, and the loan amount. Generally, a lower interest rate is considered better, as it reduces the total cost of borrowing. Kotak Mahindra Bank offers interest rates starting at 9.98% per annum.
At Kotak Mahindra Bank Personal Loan interest rates are fixed, Our lowest personal loan rates starting at 9.98% per annum.
The stamp duty charges for a personal loan vary as per the respective State’s Stamp Act.
Guide to better personal finance