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Frequently Asked Questions

What is Kotak Mahindra Bank's Personal Loan Interest Rate in Chennai?

Personal loan interest rate at Kotak Mahindra Bank starts at as less as 10.99% per annum. In some cases, however, it can be charged at 10.99% per annum. For Kotak bank account holders attractive benefits, discounts and offers are available on personal loan. Furthermore, if the applicant already has another personal loan with a different bank, they can opt for a personal loan balance transfer to avail lower rates of interest with Kotak Bank and consolidate their debts.

How to get a personal loan balance transfer from Kotak Mahindra Bank in Chennai?

Juggling through high interest rates on personal loans can put a strain on one’s financial flow. Opting for a personal loan balance transfer when you have an ongoing loan with a different bank helps you reduce your debt burden. With lowest interest rates at Kotak Mahindra Bank, our applicants can avail the ease of a hassle free documentation - verification process alongside flexible loan repayment options. Here’s what you need to do to opt for personal loan balance transfer:


Speak to a Kotak Expert -

  • Dial our digits to reach out to Kotak experts to initiate the process.


Clear the Eligibility Criteria -

  • Graduate with 1 year work experience
  • Living in Chennai for 1 year
  • Minimum net salary of Rs. 20,000/- per month

Documentation -

To get the transfer process started, you will be required to submit the following

documents to the bank:

  • Proof of identity
  • Proof of residence
  • 3 months’ bank statement
  • 3 months’ salary slips
  • 3 passport-sized photographs

Who can avail of a Personal Loan in Chennai?

Applicants should be:

  • Indian residents between the ages of 21 and 58 years
  • Living in Chennai for at least one year
  • Graduate individuals employed with either MNC, public or private limited company for at least one year

  • Salary-based criteria:
  • Corporate Salary (Salary with Kotak): Rs. 25,000/- per month

    Non-Corporate Salary (Salary with other banks): Rs. 30,000/- per month

    Kotak Employees: Rs. 20,000/- per month


Why should you choose Kotak Bank's Personal Loan in Chennai?

Lowest interest rates, quick loan approvals, hassle-free documentation, flexible usage, and part prepayment facility are some of the reasons to borrow a personal loan in Chennai from Kotak Mahindra Bank.

What are the documents required for availing a Personal Loan in Chennai?

Kotak Mahindra Bank requires the borrowers to provide the bank with minimal documentation. All you need to submit is one photograph, proof of identity, residence, signature, ownership and age, and details about your bank account and income.

How do I calculate Personal Loan EMIs?

The Personal Loan EMI calculator on the Kotak website can help you find out how much EMI you may need to pay against a given loan amount. You can try out various permutations and combinations to find out the best rate possible. A Kotak expert can also guide you through this process.

How much can I borrow when I apply for a personal loan in Chennai?

Get the best personal loan in Chennai from Kotak Mahindra Bank. The personal loan amount starts from Rs. 50,000 and can go upto as high as Rs. 40 lakhs. So, you are able to take care of a vast variety of your financial needs. However, before you apply for a personal loan in Chennai from Kotak Mahindra Bank, ensure that you determine your personal loan eligibility. Your personal loan amount depends on your eligibility.


Some important factors to consider when determining your personal loan eligibility: monthly income, credit history, credit score, age, job type, location, employer’s history. Our personal loan eligibility calculator helps to determine your personal loan eligibility. So, before applying for a personal loan you should ensure that you have checked your personal loan eligibility. If you don’t fit the criteria, then you can improve your eligibility by enhancing your credit record and increasing your monthly income.

How long does it take to get personal loan in Chennai?

Getting a personal loan in Chennai is now convenient, thanks to Kotak Mahindra Bank’s hassle-free and easy loan application process. The loan approval process is also quick, and the approved funds can be disbursed to your bank account in just 3 seconds. Kotak Mahindra Bank provides the borrowers with some of the best personal loans in Chennai for a variety of financial needs. To avoid any disappointment, be sure to submit all the details and mandatory documents.


Follow some simple application steps mentioned on Kotak Mahindra Bank’s website to get a personal loan in Chennai. Fill the online application form. For an instant loan approval, make sure the details and documents are correctly submitted. If you do this step right, your loan can be approved instantly. Pre-check the list of documents and your personal loan eligibility before applying for a personal loan in Chennai. Track your personal loan request, here.