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Frequently Asked Questions

How can I reschedule or postpone my EMI?

Rescheduling or postponement of EMI is not possible on your personal loan account.

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Is it possible to change my personal loan Installment date? Are there any charges applicable?

Yes, it is possible to change the Installment date. The dates are available between 5th and 10th of every month.

Changing of EMI date will attract rescheduling charges and PDC Swap charges* per instance plus applicable service tax. You would need to provide a written request mentioning the reason for the EMI date change and send the rescheduling charges to us 7 working days pre/7 working days post the EMI date.

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When can I swap my PDC's and what are the charges?

PDC's need to be swapped at least 7 working days pre/7 working days post the Installment date.

 Charges* applicable would be Rs.500/- per instance plus applicable service tax.

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What do I need to do, in case I want to opt for an ECS mode for making my Installment payments instead of PDC?

You need to do the followings:

  • You would need to sign an ECS Mandate form.
  • One security cheque to be drawn in favor of 'Kotak Mahindra Bank'. This cheque needs to be undated and blank, and at the bottom, it needs to mention 'Not more than the loan amount'.
  • Six security cheques to be drawn in favor of 'Kotak Mahindra Bank '.This cheque needs to be undated and blank, and at the bottom, it needs to mention 'Not more than three times the EMI amount'

  • PDC swap charges* will be applicable at Rs. 500/- per instance plus applicable service tax.

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How can I get my Repayment Schedule?

Please follow the below procedure:

 

  • You can download your Repayment Schedule for Free.
  • Should you need the Bank to send you a copy, you can place a request via phone or an email or letter or walk in to any fof our customer care branches.
  • The Repayment Schedule will be sent to you within two working days at your correspondence address.

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