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Frequently Asked Questions

What are the documents required for availing a small personal Loan online?

Documents required for personal loan:

- Identity: PAN/Passport/Aadhaar/Voter’s ID Card/Driving License

- Residence: Passport/Utility Bills/Leave and License Agreement

- Income: Last 3 months’ Bank Statements/Salary Slips

What is the criteria for availing a small loan for students?

Small loan eligibility for students:

- Must be Indian citizens

- No age restriction

- Minors to apply with a co-applicant above 21 years of age

- Enrolment for eligible courses only

What is the minimum credit score required for getting a Small Loan finance?

Kotak Mahindra Bank provides Small Loan Finance to applicants with a credit score of 700 and above. A higher credit score solidifies your chances of getting the small personal loan.

Can a person with a low salary apply for a small loan?

Minimum income requirement to avail a small loan from Kotak Mahindra Bank is:

Corp Salary Borrowers: Rs. 25,000

Non-corp Salary Borrowers: Rs. 30,000

Kotak Employees: Rs. 20,000

How can we calculate EMIs on a small loan online?

Calculate your EMIs using Kotak’s Personal Loan EMI Calculator. Enter the following details:

- Loan Amount

- Loan Tenure

- Preferred Interest Rate

The calculator displays monthly EMIs, interest and total amount payable.

What is the processing time for availing a small loan from Kotak Mahindra Bank?

Kotak Mahindra Bank’s convenient processes are fast and help you to get an in-principle approval in as less as 3 seconds. Disbursement is also quick if your documentation is appropriate.

What is the repayment tenure of a mini loan?

Kotak Bank provides a personal loan tenure starting from 12 months and it goes upto 60 months. Depending on the loan amount and repayment capacity, the repayment tenure is decided.