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Kotak Personal Loan

Kotak Mahindra Bank offers Personal Finance - the single expert source for all your financial needs. Unexpected expenses, education, wedding in the family, home improvement or that long awaited vacation. Kotak Mahindra’s range of Personal Loan can help.

Features and Benefits of Kotak Mahindra Personal Loan

• Available loans from Rs.50,000 - 50 lakh
• Quick approval: With a Kotak Mahindra Bank Personal Loan, In as less as 72 hours you can turn your dreams into reality.
• Minimum Documentation & Simple free processing.
• Flexible repayment options: Our flexible loan tenors range from 12 - 60 months for salaried customers and from 12- 36 months for businessmen / professionals.
• Convenience of service at your doorstep: Our Loans are just a phone call away; you can fix an appointment with any of our representatives and they could assist you in all your loan formalities.
• Minimum Personal Loan Interest Rates.

Kotak Mahindra Banks also provides services in Business Loans, Home Loans, Credit Card, fixed deposit, insurance and Loan Against Property.

Salaried Individuals Rate of Interest of Kotak Mahindra Personal loan

Compare Kotak Mahindra Personal Loan| Interest Rates | Eligibility

Professional Details
Loan Amount:
Annual Income:

Current interest rates on Kotak Bank Personal loans - April, 2015

CAT A CAT B Others Pre Payment
12.99% - 13.50%
(For Special Companies)
(for 75k & above salary)
(for 45K - 74.99K salary)
(for 30K - 45K salary)
(for 75k & above salary)
(for 45K - 74.99K salary)
(for 30K - 45K salary)
(for 75k & above salary)
(for 45K - 74.99K salary)
(for 30K - 45K salary)
4% to 5% Rs 883 (For Special Companies)
1.50% - 2%
Festive Offer : Get gifts upto Rs 13,800 on disbursal.
Refer to T & C - www.deal4loans.com/personal-loan-offers.php
Salaried Individuals Rate of Interest of Kotak Mahindra Personal loan
Eligibility Criteria for Kotak Bank Personal Loan
Age of Applicant Min-23 years (listed companies), 24 years (non-listed companies).
Max-58 years, 60 years (with proof of retirement).
No. of years in employment 2 years & above (listed companies)
3 years & above (non-listed companies)
Current Experience 1 year & above
Net Monthly Income Rs. 25,000/- & above (listed companies)
Rs. 40,000/- & above (non-listed companies).

Loan Amount of Kotak Bank Personal Loan
Minimum Funding Rs. 50,000/-
Maximum Funding Rs. 15,00,000/- (listed companies) ,
Rs. 10,00,000/- (non-listed companies)

Loan Tenure offered by Kotak Bank
Minimum Tenure 12 months
Maximum Tenure 48 - 60 months (listed companies) 36 months (non-listed companies)

Turn Around Time of Kotak Bank Personal Loan
Salary below Rs. 75,000 2 working days (48 hours)
Salary above Rs. 75,000 7 working days

Processing Fee of Kotak Bank Personal Loan
Processing fee 1.50% - 2%

Prepayment Charges of Kotak Bank Personal Loan
Foreclosure Charges 5% of outstanding principal (Can be foreclosed after 6 months only)

Salary available for making EMI’s
Above Rs. 25,000 p.m 50% of salary is considered

Documents Required for Kotak Bank Personal Loan
Identity Proof Passport/ driving license/PAN card/ Photo credit card (with embossed Signature and last two months statement)/ banker’s sign verification
Age Proof PAN Card/ Passport/ Driving School leaving certificate/ Voter’s card/ BirthCertificate/ LIC policy (only for age Proof).
Address Proof Passport/ Telephone bill (BSNL/MTNL)/ Electricity bill/ Title deed of property/Rental agreement/ Driving license/ Election ID card/ Photo-credit card (with last two month statements)
Income Proof Latest salary slip/current dated salary Certificate with latest form 16
Job Continuity Proof Form 16/relieving letter/appointment Letter (for last two months)
Banking History Bank statements of latest 2 months/ 3 months bank passbook

Disclaimer : Please note that the interest rates and eligibility criteria given here are based on the market research. To enable the comparisons certain set of data has been reorganized / restructured / tabulated .Users are advised to recheck the same with the individual companies / organizations. This site does not take any responsibility for any sudden / uninformed changes in interest rates.

Know the Rate of interest charged by major banks for Personal Loan