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Kotak Mahindra Bank Personal Loan

    Kotak Mahindra Bank Personal Loan Features

    Kotak Mahindra Bank Personal Loan Eligibility Criteria Details
    Kotak Mahindra Bank Personal Loan Interest Rate 9.75% p.a.
    Kotak Mahindra Bank Personal Loan Lowest EMI per lakh Rs 2112
    Kotak Mahindra Bank Personal Loan Tenure 12 to 60 months
    Kotak Mahindra Bank Personal Loan Processing Fee 1% to 2% of Loan Amount
    Kotak Mahindra Bank Personal Loan Prepayment Charges Allowed after 12 Months (2 – 4 %)
    Kotak Mahindra Bank Personal Loan Part Payment Charges Allowed after 12 Months (2 – 4 %) 
    Kotak Mahindra Bank Personal Loan Min Loan Amt ₹ 50,000
    Kotak Mahindra Bank Personal Loan Max Loan Amt ₹ 75 Lakh

    About Kotak Mahindra Bank Personal Loan

    A Personal loan is a rescuer who saves you from financial complications. Kotak Mahindra Bank Personal Loan sanctions are from 50000 to 1500000 instantly and also sitting at home through online processing. Use this amount as you like in the best possible way.

    Features and benefits of Kotak Mahindra Bank Personal Loans

    1. Firstly, you can get loans instantly because of the minimal documentation criteria.
    2. Secondly, get online approval of transactions.
    3. Likewise, there is an Ease in availing loans.
    4. Besides, the online amount there is eligibility and monthly instalment calculator.
    5. Further, it is available at nearby places.
    6. Additionally, you can afford interest rates
    7. Lastly, no collateral security required up to 15 lakhs.
    8. Above all, the bank provides you with transparent information.
    9. Moreover, you’ll get different repayment options.

    Kotak Mahindra Bank Personal Loan Documents

    Simple and easy documentation for Karnataka Bank Personal Loan (though documentation varies from individual to individual). The document requirement is based on your profession, income and loan requirement.

    1. Identity proof: As a verification document, one should especially require one among the following: (Passport/Id card/voter card/driving license/Aadhar Card) any one of them.
    2. Residence proof: The documents required as proof of residence are: (Passport/Id card/voter card/driving license/Ration Card/Aadhar Card).  And the applicant living in a rented apartment, then he has to submit his rental agreement, electricity bill on his name and the address of the owner.
    3. KYC formality: The applicant has to provide his PAN card which is an important document
    4. Salaried applicant: One has to submit his bank statements of the last six months and the salary slip of the last three months.
    5. Self-employed Applicant: The person applying for a personal loan should file ITR for the last three years, and the business should be registered.
    6. And if the applicant is self-employed, then they have to submit the ITR of the last three years and his business should be registered.
    7. Two colored passport size photos. (Applicant should not be wearing glasses)

    Kotak Mahindra Bank Personal Loan Eligibility

    Not everyone can apply for a personal loan, an applicant have to follow some eligibility criteria based on which bank approves the applicant€™s request. There are two categories of applicants:

    1. Salaried
    2. Self-employed

    There are various eligibility criteria for both applicants.

    Salaried Applicant:

    1. The minimum required age of an applicant must be between 21 years to 60 years.
    2. A metropolitan city borrower should have a minimum income of Rs 18,000. And for the non-metropolitan city, the minimum salary should be Rs 12,000.
    3. The work experience of the borrower should be for three years, and the salary should be received in their account only.
    4. A person applying for a personal loan should have a good credit history.

    Self-employed Applicant:

    1. The required age of a self-employed person should be of 25 years.
    2. The person should file ITR for the last three years, applying for a personal loan.
    3. An applicant must have a good credit score must, and there should not be any debt left due.
    4. The minimum amount should be of Rs 2.5 lakhs per annum at least.
    5. The business should be running for at least from the last three years if the applicant owns a business.

    Why LoanNow?

    There are multiple portals from where you can get better options for Personal Loan but offers you a complete and easy guideline. is an unbiased comparison platform for banking related products. Alongside influencing your procedure to free from documentation bothers, we also offer satisfactory assistance regarding banking. We understand the value of your needs and likewise recommend plans. We endeavour to make your money related to arranging as simple and fair as possible.

    * Interest rate can vary as per the individual’s portfolio.
    * All loans repayment period are over 6 months. No short term loans.
    * We don’t charge the individual for the process.
    * Credit at sole discretion of the Banks we have a tie-up with.