Personal Loan

Turn your dreams into reality with a Personal Loan from Kotak Bank.
Get a loan with minimum paperwork and documentation processes while availing Personal Loans. 

Personal Loan

Ready to take the next step?

Apply Now
icon

Frequently Asked Questions

How can I reschedule or postpone my EMI?

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

Was this information helpful to you? Yes No

When can I foreclose the Personal loan? What is the procedure for full prepayment?

Following are the procedures:

  • We do not allow prepayments for a period of 12 months from the date of your first EMI. 30 days foreclosure intimation period is mandatory.
  • You need to inform us in writing or via email about your request for full prepayment.
  • Once your intimation period is complete, the foreclosure statement of your loan will be issued to you from our end.
  • You need to submit this full prepayment cheque at our branch at least 7 working days before your next EMI date.
  • You can make the foreclosure payment either via DD/cheque/cash, cheque or DD in favor of "Kotak Mahindra Bank " after the intimation period is over.
  • Once your foreclosure cheque is cleared your loan closure will happen in the banks records.
  • We will send the No Objection Certificate (NOC) and the balance Post Dated Cheques (if any) to your correspondence address within 15 working days post termination of your loan account.
  • After the 12 + 1 month intimation period, the foreclosure charges applicable would be 5% + service tax on principal outstanding.

Was this information helpful to you? Yes No

What is the procedure for personal loan part prepayment?

We do not offer a part prepayment facility on your personal loan account.

Was this information helpful to you? Yes No

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.

Was this information helpful to you? Yes No

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.

Was this information helpful to you? Yes No

View All

People also looked at

gold-loan

Gold Loan

Make optimum use of your gold reserves collected over the years. Get quick and easy financing with Gold Loan from Kotak Bank at attractive interest rates.

Know More

loans-against-security

Loan Against Securities

Capitalize on your investments without selling them by applying for Loan Against Securities from Kotak Bank.

Know More

Business_Loans

Business Loan

Do not worry to bear the pressure of starting a new business all alone. Grab every opportunity to grow your business with Business Loan from Kotak Bank.

Know More