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.

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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
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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.


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
Age 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 Interest Rate
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.
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

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 Bank, you can simply fill up an online loan application form after checking your Kotak 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 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, will receive updates of your submitted application form using both email 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 a Kotak Personal Loan is a simple process.



Fill up an online loan application form


Quick Verification

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


Loan Disbursal

You will be receiving your cash within two days

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

How to calculate EMI for Kotak Bank Personal Loans?

Calculating EMI for your Kotak Bank personal loan is now easy with IndiaLends personal loan EMI calculator. By following few simple steps, you can check the EMI amounts for various amounts and tenures and decide the best plan that suits you.

Here’s how you need to use the EMI calculator:

Use the slider to adjust the values(Principal amount, loan tenure and rate of interest) to get your desired results. In case you need to add precise values, you can type the values in the relevant boxes provided next to the slider. As you change the values using the slider or hit the tab key after entering the value, the EMI is re-calculated according to the new values.

This way you can easily decide the EMI on your personal loan that can be managed easily and would not affect your monthly budget.

Kotak Bank Personal Loan Status

Are you wondering about the status of your Kotak bank personal loan? If yes, here are the two easy ways to track your application status:

You can visit the official website of Kotak Mahindra bank to monitor your application status by providing few details such as loan account number, name of the applicant and date of birth.

You can also use IndiaLends app to get insights on your loan application status. However, this is only possible if you’ve applied for the loan via IndiaLends.

Kotak Bank Personal Loan Balance Transfer

There’s always a way out to come out from a high-interest personal loan. In other words, it’s never too late for shifting to a better bank that is offering low-interest rate for your personal loan with the help of a balance transfer.

Kotak personal loan balance transfer offers the following benefits:

Additional top-up loan amount up to 75% of the original personal loan

No security / collateral required

Attractive interest rates

Simple documentation

Quick processing and disbursal

No security / collateral required

Simple repayments through monthly instalments

Kotak Personal Loan Top Up

Sometimes, you need an extra hand to fulfill your dreams. This is where Kotak personal loan top-up comes into play. It is easy, simple and quick.

The other benefits of Kotak personal loan top up are:

No security/collateral required

Easy and minimal documentation

Best-in-class interest rates

Quick disbursal and superfast disbursal

Easy repayments through monthly instalments

Kotak Personal Loan Preclosure

Kotak bank provides personal loan pre-closure facility at nominal charges. However, one can pre-close a Kotak personal loan only after payment of 12 EMI’s.

Thereafter, there is a 5% foreclosure charges + GST on the principal outstanding.

Some frequently asked questions(FAQs) regarding Kotak bank personal loan

Q. What is the minimum and maximum amount of personal loan that I can get with Kotak bank?

A. A Kotak personal loan starts from Rs 50,000 and can go upto Rs 30 lacs depending on the customer’s credit score, credit history, the relationship with the bank, and finally the bank’s internal policies.

Q.What is the maximum tenure for which I can avail a personal loan with kotak bank?

A. A Kotak personal loan can be anywhere from 12 to 48 months. Kotak bank gives an option to select the tenure that best suits you.

Q.Can I track my loan application?

You can monitor your loan application status by going to the official website of Kotak and entering the details such as your name as mentioned in the application, the loan account number and your date of birth. Alternatively, you can reach out to them at 1860-266-2666 or, 1860-266-0811 if you are an 811 customer.

Q. What is the average processing time for Kotak bank personal loan?

A. Generally, a Kotak bank takes 7-10 days to completely process the application subject to bank’s policy and eligibility criteria.

Q. What is the importance of CIBIL score in Kotak bank personal loan applications?

A.One of the factors taken into consideration when approving a personal loan is credit score. A good credit score can give you the power to get better loan offers at low-interest rates.

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