Balance Transfer Personal Loan - Transfer Personal Loan for Lower Rates | Kotak Mahindra Bank

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Frequently Asked Questions

What can a personal loan be used for?

Personal loan requires no collateral, and that’s why it is an unsecured loan. It can be used to fulfill many of your day-to-day as well as emergency needs. Kotak Mahindra Bank provides the borrowers with loan amounts from Rs. 50,000 to Rs. 25 lakhs. So, whether your expenses are small or big, our personal loan can come in handy at the time of your need.

You can plan that dream wedding with the help of Kotak Bank’s marriage loan. Or use our travel loan to rejuvenate at your favourite holiday destination. Renovate your home and transform your living space with a home renovation loan from Kotak Mahindra Bank. You can even take care of unplanned expenses such as medical emergencies with Kotak’s medical emergency loans. No need to dip into your hard-earned savings to meet your financial needs.

What are the benefits of availing of a personal loan from Kotak Mahindra Bank?

Kotak Mahindra Bank’s personal loan is available within the shortest possible time, and the documentation is minimal and hassle-free. 

Interest rates start from 10.75% p.a., and the personal loan charges are also low. You can use the personal loan EMI calculator to make the loan affordable. Moreover, the prepayment facility helps you reduce the loan burden whenever you have additional funds.

How can I apply for a personal loan?

Kotak Mahindra Bank ensures an easy and convenient personal loan application process. For an online application all you need to do is provide us with your basic details, check your eligibility to borrow a loan from Kotak Mahindra Bank and finally, submit the mandatory documents. 

To provide your basic details, visit the personal loan section on Kotak Mahindra Bank’s website and click on “Apply Now”. You will be redirected to the Application Form where you have to fill in the required information.


Kotak Mahindra Bank’s simple eligibility criteria makes it easy for availing a personal loan from us. Individuals between the ages of 21 and 60 years and employed at least for one year can apply for Kotak’s personal loan. Apart from that a graduation degree and a minimum salary bracket are other eligibility parameters. 

You can visit the eligibility section to find out more about factors affecting your personal loan eligibility

What are the different types of personal loans?

Kotak Mahindra Bank offers personal loans for wedding travel, medical needs, education, vehicle buying, debt consolidation, etc. 

Can I get a personal loan if I have a home loan?

Yes, you can get a personal loan even if you have a home loan. You just need to mention the existing loan details and the EMI. You can also opt for top-up home loans, which are like personal loans.

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