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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. 40 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 10.99% 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.

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.

How can I get personal loan repayment status updates?

The repayment status update is sent to you regularly by Kotak Mahindra Bank. You can also check the status online by logging into your online banking account. 

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