Kotak Mahindra Bank Personal Loan: Features, Interest Rate & Eligibility

Are you looking for a personal loan? Kotak Mahindra Bank Personal Loan may be an option for you. Find out more about this personal loan, the interest rates, and repayment terms, as well as the eligibility requirements for this personal loan!

Kotak Mahindra Bank Personal Loan Highlights

Interest RateStarting at 10.99% p.a.
Loan AmountUp to Rs. 25,00,000
TenureUp to 5 years
Processing FeesUp to 3% of the loan amount
Kotak Mahindra Bank Personal Loan

Kotak Mahindra Bank Personal Loan

Kotak Mahindra Bank offers a personal loan with attractive interest rates. Interest rates for Kotak Mahindra Bank Personal Loan start at 10.99%, making it one of the most affordable options available for personal borrowing in the market. The personal loan is available through the bank’s online and mobile channels and can be availed by individuals, couples, and small businesses. The online application process is easy, fast and secure.

The Personal Loan can be financed up to Rs 25 lakhs and comes with a tenure range from 1 to 5 years. The minimum eligibility criteria for Kotak Mahindra Bank Personal Loan are a valid bank account and a genuine income statement. Moreover, the personal loan is not linked to any collateral and hence there is no need to worry about any undue security implications in case of defaulting on the debt.

Kotak Mahindra Bank Personal Loan Interest Rates – 2022

Kotak Mahindra Bank personal loan interest rates start at 10.99% p.a. The bank did not specify the maximum interest rates, but several factors go into calculating the personal loan interest rate, including the credit score of the applicant, the tenure of the loan, and the amount borrowed. 

Read Also – HDFC Bank Business Loan

Kotak Mahindra Bank Personal Loan EMI Calculator

Kotak Mahindra Bank Personal Loan EMI Calculator is a free online tool that helps you calculate the EMIs on your loan. The calculator provides information on the interest rate, tenure, monthly payment, and total amount payable throughout the loan. You can use this calculator to get an idea of how much EMIs you would be paying on a personal loan from Kotak Mahindra Bank.

Types of Kotak Mahindra Bank Personal Loans

Kotak Mahindra Bank has a range of personal loans to cater to different needs and budgets. Here is a look at the four types of personal loans offered by Kotak Mahindra Bank:

  • Personal Loan for Consumption: This loan is meant for spending on essential items such as groceries, clothing, and transportation. The loan amount you can borrow ranges from Rs 50,000 to Rs 25 lakhs.
  • Personal Loan for Marriage: Kotak Mahindra Bank offers a personal loan for marriage. The loan amount varies from Rs 50,000 to Rs 25 lakhs. The loan can be used to finance wedding expenses such as honeymoon, transportation, and furniture.
  • Medical Loan: If you need a medical loan but don’t have the best credit score, you may be able to qualify for a medical loan through Kotak Mahindra Bank. This loan is available to people who have an illness or injury that requires them to stay in the hospital for more than three days. The minimum required loan amount is Rs 50,000 and the interest rate is very low, at just 10.99%.
  • Personal Loan for Travel: For those who are planning to take a trip shortly and need some extra money, Kotak Mahindra Bank has got you covered. The loan amount can be up to Rs 25 lakhs and the loan tenure up to 60 months. The interest rate starting 10.99% p.a.
  • Personal Loan for Home Renovation: Looking to renovate your home but don’t have the funds yet? Look no further than Kotak Mahindra Bank. They offer a personal loan for home renovation that can help you get the job done quickly and affordably.

Kotak Mahindra Personal Loan Eligibility

Kotak Mahindra Bank Personal Loan eligibility is quite simple. You must meet the following criteria to be eligible for a Kotak Mahindra Bank personal loan:

Age21 years to 60  years
Type of employmentEmployed with an MNC, private limited company, or public limited company
Monthly income requiredCorp Salary borrowers: Rs. 25,000
Non-Corp Salary borrowers: Rs. 30,000
An employee of Kotak Mahindra Bank: Rs. 20,000
Educational QualificationAt least Graduation
Work experienceAt least 1 year
Credit score700 and above

Kotak Mahindra Personal Loan Documents Required

If you are looking to take a loan from Kotak Mahindra, there are a few documents that you will need to provide them. In this article, we will discuss the specific documents that you need to submit to get approved for a personal loan with the bank.

  • Proof of Identity: Aadhaar Card/ PAN Card/ Driving License.
  • Proof of Address: Permanent Resident Card/ Voter ID card/ House or Rent Agreement.
  • Proof of Income: last 3 months Salary slip, Recent 3 months bank statement.
  • 2-3 passport-size photographs.

Kotak Mahindra Personal Loan Features & Benefits

Kotak Mahindra Personal Loan is one of the best personal loans available in the market. The features and benefits of Kotak Mahindra Personal Loan are as follows:

  • Low-interest rates: Kotak Mahindra offers competitive interest rates that are lower than other lenders.
  • Wide range of loan amounts: From Rs 50,000 to Rs 25 lakhs, Kotak Mahindra offers a loan that is right for you.
  • Quick turnaround time: Kotak Mahindra Bank provides fast turnaround times for Personal Loan applications. You can expect to receive your approval letter within just 24 hours.
  • Flexible repayment options: Kotak Mahindra Bank offers borrowers a range of flexible repayment options to suit their needs.
  • No hidden fees: There are no hidden fees associated with Kotak Mahindra personal loans.
  • Easy online application process: To apply for a Personal Loan with Kotak Mahindra Bank, you simply need to complete an online application form. The lender will then review your application and get back to you with an approval decision.

Kotak Mahindra Personal Loan Apply Online

Kotak Mahindra Personal Loan is one of the most popular personal loans in India. Here are some steps on how to apply for a Kotak Mahindra Personal Loan online:

  • Firstly, visit the website and select the loan you require from the range of options available.
  • Next, fill in the required information such as your name, contact details, repayment period, etc.
  • Once this is done, click on the ‘submit’ button to finish the application process. You will be redirected to a confirmation page where you will need to verify your details.
  • Finally, you will be asked to submit your application proof such as an ID card or driving license. Once these are verified, your loan approval will be confirmed and you can start repaying your loan.

Kotak Mahindra Personal Loan Customer Care

If you have any queries or issues related to your Kotak Mahindra personal loan, don’t hesitate to reach out to the customer care team. They’ll be able to provide you with all the information you need to consider a loan, and they’ll be happy to answer any questions you may have. You can also reach out to them if you experience any problems while trying to make your loan payments.


If you are looking for a personal loan to help you with your current financial situation, Kotak Mahindra Bank may be a good option for you. the bank offers a wide range of personal loans that can meet your needs, and rates are always competitive. You don’t even have to visit a Kotak Mahindra branch; you can apply online and get approved immediately. Plus, their lending team is available 24/7 to help make your loan application process as smooth as possible.

Read Also – ICICI Bank Gold Loan


Q. How much can I borrow for a Kotak Mahindra bank Personal Loan?

Ans. The maximum amount that you can borrow under this loan is Rs 25 lakhs.

Q. What are the repayment terms for a Kotak Mahindra bank Personal Loan?

Ans. Repayment tenure of Kotak Mahindra Bank personal loan ranges from 1 year to 5 years.

Q. Will I need to provide collateral for a personal loan from Kotak Mahindra?

Ans. No, you do not need any collateral to avail Kotak Mahindra Bank Personal Loan.

Q. What is a personal loan?

Ans. Personal loans are credit products offered by banks and other financial institutions to consumers. They are designed as short-term borrowing solutions, typically with a term of up to two years. Personal loans can be used for a variety of purposes, such as to cover unexpected expenses or to improve your credit score.

Q. What are the requirements for getting a personal loan?

Ans. There are no special requirements for applying for a personal loan, but you will need to meet minimum eligibility criteria. In general, you must be 18 years or older, have a valid bank account, and have a good credit history. If you have had previous credit problems, your lender may require you to take steps such as getting rehabilitated before approving your loan application.

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Hey, I'm Digvijay Sharma. I've much experience in the financial sector so, I created this website to share the best knowledge with you as a LoanTeacher so you can take better decisions for your financial life.

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