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Frequently Asked Questions

Will my EMI change if I opt for a top-up loan in addition to my personal loan?

Yes, your EMI amount will increase when you avail of a top-up loan. The top-up loan is added to your previous loan, resulting in a new loan amount. You can pre-check your EMI amount using the personal loan EMI calculator.

Can you add to an existing personal loan?

Yes, it is possible to avail of a top-up loan to add to your existing personal loan. You can even enjoy a lower interest rate and better loan terms on your new loan amount.

Are tax benefits available on top-up Personal Loan?

No, tax benefits are not available on getting a top-up on your personal loan. A personal loan is a collateral-free loan and does not fall under any tax benefit sections.

How does personal loan top-up work?

You can apply for a personal loan top-up after 9 months of your personal loan sanction. All you have to do is send an SMS PLTOPUP on 5676788 and a Kotak executive will contact you for next steps.

Is a top-up loan a good idea?

Yes, a top-up loan can be of great help when your existing personal loan is not sufficient to fulfill all your financial requirements or in case of sudden needs arising.

What is the procedure of a top-up loan?

You can apply for a top-up personal loan from Kotak Mahindra Bank in these simple steps:

- SMS PLTOPUP to 5676788

- A Kotak executive will contact you to complete the further steps

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