Kotak Mahindra Bank Personal Loan

Kotak Mahindra Bank star star star star star 3.75 / 5.04 users

Kotak Mahindra Bank is currently fourth largest private sector bank in the country terms of market capitalization. Established in 2003, it is now one of the major banks in India, with a distinction of being the one and only financial services group so far to foray successfully into the banking industry in India. Prior it was Kotak Mahindra Finance Ltd. You can check out personal loans interest rates in Kotak bank at our website.

Kotak Mahindra Bank Personal Loan Details Updated on 18th June 2018
Loan Amount Rs.10,0000 to Rs.15,00,000
Loan Tenure 5 Years
Interest Rate 11.50% to 24.00%

Indian national between the ages of 21 and 55 years are eligible for loan under this scheme. The personal loan in Kotak bank is meant to fulfill your personal financial needs which can be kept secret. People generally take this loan for personal reasons like wedding, home improvement, holidays, education, purchasing durables and electronics, etc. Check out Kotak EMI calculator and Kotak Mahindra bank personal loan eligibility at loanbaba.com.

Why choose Kotak Mahindra personal loan?

Kotak Mhindra is one of the reputed private sector banks in the country. With just a decade of service in India, the bank has projected and positioned itself in a good place in Indian banking industry. The bank serves its customers under more than 1,100 branches throughout the nation. Bank features innovative processes and products which places it among the most tech-savvy institutions in the country.

For its innovation in process, the bank has been awarded by many prestigious institutions in the country, such as CNBC TV1 (Innovative Usage of Data, 2013), Campaign India Digital Crest Awards (Best Digital Strategy, First Twitter Banking Product and Best Usage of Viral Marketing), Business-World (Best Medium Sized Bank, 2013), Outlook (Best Emerging Bank, 2013), etc.

Features of Personal Loan Kotak Bank

  • Repayment options are flexible which can be extended up to a period of 5 years.
  • Interest rates are competitive.
  • Loan processing is quick and easy.
  • Collateral security is not required.
  • One can avail a loan of amount between 50,000 and 15 lakh.
  • The prospective customers get a doorstep service in which they can get a personalized appointment with the bank and a bank representative visits them, for completion of formalities and clarifying any queries regarding the loan.
  • All you need to submit is an identity proof, a photograph, address proof, signature proof, age proof, income details, ownership proof and last 6 months bank statement.

Why Apply for Kotak Personal Loan on Loanbaba.com?

At Loanbaba, you can compare and apply for personal loans online. You can check out several personal loan schemes by Kotak and go through all their features such as quantum of loan, amount of loan, processing fees, interest rates, and other conditions, at one page. You can also quickly apply for Kotak Mahindra Personal Loan online on our website without having to visit the bank branch. It is simple and easy, and you can upload all the required documents online. Disbursal is done at the soonest, and you can keep a track of your loan application on the website.

How to Apply for Kotak Personal Loan on Loanbaba.com?

Visit this link- https://www.loanbaba.com/personal-loan/ to apply for Kotak Bank personal loan or any other bank/NBFC personal loan at Loanbaba.

Kotak Personal Loan Interest Rates

Personal Loan Kotak interest rate ranges between 11.5% and 24% annually. Keep a check on this page to note the updated interest rate for Citibank personal loan.

Kotak Personal Loan Eligibility

  • The applicant for personal loan Kotak Mahindra needs to meet the age requirement and possesses all necessary identity and income proof required to apply for the loan.
  • He/she meet the requirement for credit score and should not be under too many debts.
  • Personal loan eligibility may differ from one candidate to another. You can also use free-of-cost Kotak personal loan eligibility calculator at Loanbaba.com.

Types of Kotak Mahindra Personal Loan

Kotak has personal loan schemes for professionals and salaried individuals. The amount taken as loan can be used for either multiple or specific purposes.

Kotak Mahindra Personal Loan FAQs

  • addFAQs

    Below provided are important questions about personal loan Kotak Mahindra.

    1. Is it possible to foreclose or fully prepay the personal loan?
    2. There is no prepayment provision from the initial 12 months from the time of the first EMI. The borrower needs to intimate 30 days before the foreclosure. At the completion of this period, the institution will release foreclosure statement.

    3. How to receive the repayment schedule?
    4. The applicant can download the repayment schedule for free. The request for the same can also be placed via email, walkin to customer care branches, or through a call.

    5. Can I postpone or reschedule my EMI?
    6. No, it is not possible to postpone or reschedule personal loan EMI, without implying additional charges.

    7. How to update new address on the loan?

    The applicant has to drop a written request letter to the customer care department for the change of correspondence address. Necessary photocopy of address proof needs to be enclosed along. Some of the documents accepted for address update are passport copy, electricity bill, ration card etc.

Kotak Mahindra Bank Personal Loan Review


Personal Loan
star star star star star 12.0/5
Personal loan by Kotak Mahindra bank was perfect, but the turnaround time is something they can work upon.
Mumbai June 16, 2018
Personal Loan
star star star star star 15.0/5
I had applied my personal loan in Mumbai at Kotak Mahindra bank. I was in dire need of funds and fortunately got the loan amount soon.
Mumbai June 16, 2018
Personal Loan
star star star star star 15.0/5
Taking personal loan in Gujrat by Kotak Mahindra bank through online portal of loanbaba was after all not a bad idea. This way I could communicate with the Kotak Mahindra without having to come over to their branch. All by documentation was sorted and I got the loan in decent time.
Mumbai June 14, 2018
Personal Loan
star star star star star 13.0/5
The Kotak Mahindra bank has disbursed the loan amount required and I am satisfied with it. The interest rate and the charges are average.
Mumbai June 13, 2018

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