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Kotak Mahindra Bank Personal Loan

Kotak Mahindra Bank offers personal loans to their customers at a decent interest rate. The loan is also known as an unsecured loan, where the borrowers do not have to pledge any assets against the loan. Moreover, it can be used for multiple purposes, taking a long vacation or planning to renovate your house, a personal loan from Kotak Mahindra Bank can be the best option to do so.

Apply kotak Personal Loan

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Minimum salary of Rs 10,000 is requiredMinimum annual income of Rs. 1.2 Lakh is requiredMinimum turnover of Rs. 1.2 Lakh is required
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Why Choose Kotak Mahindra Bank Personal Loan?

You can benefit from the attractive loan offers and several other products features at Kotak Mahindra Bank. Here are a few reasons for choosing Kotak Mahindra Bank for a personal loan.

  • Affordable and flexible interest rates
  • Fast loan approval
  • Minimal Documentation Process & 100% Transparency
  • Maximum Loan up to Rs. 25 lakhs
  • Flexible Repayment options, ranging from 1 to 5 years
  • Fast disbursal with money in your account within 2 days
  • Earn reward points on taking a Personal Loan

Kotak Mahindra Bank Personal Loan Interest Rate

The rate of interest will range from 11.00% to 24%. It will depend on the customer’s credit score, credit history, the relationship with the bank, and finally the bank’s internal policies.

Salaried Individual

Loan Amount

Starting From Rs. 50,000 up to Rs. 30 lakhs

Interest Rate

11.00% to 24%

Processing Fee

Upto 2.50% of the loan amount

Loan Tenure

1 to 5 years


23 years up to 58 years

Foreclosure Charges

5% of the loan amount after one year

Kotak Mahindra Bank Personal LoanFeatures

Multi-purpose loan

Be it a wedding, refinancing your home, paying your college fees or planning for a holiday, a personal loan from Kotak Mahindra Bank can fulfill all your requirements. Personal loans are therefore also known as multi-purpose loans as they can be used for numerous purposes.

Loan Amount

Kotak Mahindra Bank Personal loans are available for both, self-employed individuals and salaried working professionals. At Kotak Mahindra bank, the minimum personal loan amount is Rs. 50,000 and the maximum is Rs. 30 lacs.

Fixed Rate of interest

The rate of interest is fixed, and is charged on a monthly reducing basis. It is calculated on the overdue amount i.e., the amount to be repaid after the EMI and interest is paid.

Flexible tenure, EMI and Payment Options

Kotak Mahindra Bank offers personal loans at attractive interest rate with a loan tenure ranging between 12 months to 60 months. The loan can be repaid in easy installments and you can choose an EMI plan which best suits your current financial position.

Personal Loans Repayment Options:

  • Standing instructions for an auto-debit from your existing Kotak account
  • Via ECS (Electronic Clearing System)
  • PDC (Post-dated cheques)

Personal loans as an unsecured loan

You can avail an unsecured personal loan from Kotak Mahindra Bank without any guarantor or security. However, make sure that you have a good credit score, as a good score i.e, above 700 will help you to get a loan at an attractive interest rate and at good terms and conditions.

Easy Documentation

Taking a personal loan from Kotak Mahindra Bank involves simple and minimal paperwork. Moreover, applying for a loan online can help you get an instant loan approval.

Affordable Interest Rates

Kotak Mahindra Bank Personal Loan can be availed at an interest rate of 11.00% to 24% and can change at any time. However, the rate of interest can vary from customer to customer depending on his/her credit score and the internal policies of the bank.

Kotak Mahindra Bank Personal Loan Fees and Charges

Processing Fee Kotak Mahindra Bank charges a processing fee Up to 2.50% of the loan amount
Foreclosure Charges In case you want to repay your entire loan amount before the loan period ends, Kotak Mahindra Bank allows prepayment of personal loan with 5% of the loan amount after one year.
Eligibility Criteria

Kotak Mahindra Bank Personal Loan Eligibility Criteria

For Salaried Employees :

Age Requirement : Minimum 23 years of age and maximum 58 years of age.

Minimum Net Salary : Rs. 18,000

  • Salaried doctors
  • Employees of Public and private limited companies
  • Public and private limited companies
  • Government sector employees including Public Sector Undertakings and central and local bodies

Kotak Mahindra Bank Personal Loan Documents Required

Complete online loan application

Fill it up online within two minutes

Identity Proof

Aadhar Card / Voter Id Card / Passport / Driving License

Salary Proof

Salary slip of the last 3 months with Form 16

Bank Statement

Bank statement of last 3 months or bank passbook of 6 months

Address Proof

Aadhar Card / Voter Id Card / Passport / Driving License

Qualification or Registration Proof

Required for doctors, architects, CA, CS, ICWA, MBA consultant, engineers may vary from customer to customer

Documents Required

Why Apply for Kotak Mahindra Bank Personal Loans at IndiaLends?

Kotak Mahindra Bank has collaborated exclusively with IndiaLends, an online marketplace which offers low-interest personal loans best suited for your needs. If you are seeking a Personal Loan with Kotak Mahindra Bank, you can simply fill up an online loan application form after checking your Kotak Mahindra Bank Personal Loan Eligibility. Moreover, you can use an online Personal Loan EMI calculator available at our website to calculate your affordability.

Personalised Loan Offers

At IndiaLends, you can receive personalised loan offers and best deals at the best rate of interest. This is due to a tie-up with Kotak Mahindra Bank, which helps you get the best deal on your personal loan as per your profile.

Instant Approval

You will get an instant approval on your personal loan after you fill in an easy online application form.

Cash within 2 days

Soon after the loan is approved, the funds are transferred right into the borrower’s bank account within two working days. Thus, we need no room for delay.

Real Time Tracking Facility

After submission of your loan application at IndiaLends, you can track your application online and moreover, you will receive updates of your submitted application form through emails and SMS

Dedicated Customer Support

IndiaLends has a dedicated customer support team and helpline which is always ready to help with any grievances or questions from loan applicants.

How to Apply for Kotak Mahindra Bank Loans at IndiaLends?

At IndiaLends, applying for an Kotak Mahindra Bank Personal Loan is a simple process.

Step 1

Fill up an online loan application form

Step 2

We will review your application and
give you a decision within minutes

Step 3

You will be receiving your cash within two days

We will forward your loan application to your nearest Kotak Mahindra Bank branch. You can also check the status of your loan application through SMS alerts as well as emails.

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