Not readable? Change text
You can avail of personal loans ranging from Rs 50,000/- to 15Lakhs depending on your eligibility, income and repayment capacity.
The loan can be repaid over a period of 12 to 60 months.
A processing fee and other charges as below are payable upfront. This fee will be deducted from the Loan amount at the time of disbursal.
Your loan will be disbursed within 4-7 working days post receipt of the required documents. Loan sanction and disbursal is at the sole discretion of the bank.
No security, or collateral are required for obtaining a Personal Loan with Kotak Mahindra Bank. However, depending upon the application guarantor may be required.
EMI stands for Equated Monthly Installments. This installment comprises both principal and interest components.
You can repay the loan in Equated Monthly Installments (EMI's) using the ECS facility, post-dated cheques favouring Kotak Mahindra Bank or a direct account debit (only for Kotak Mahindra Bank Account holders).
5% + ST of the principal outstanding after 6 months. Closure cannot be done within 6 months.
We will encourage you to start a banking relationship with us so that we will be able to offer a host of other value added services, which are complementary to the loan, however opening an account with us is not mandatory.
As a Kotak Mahindra Customer, you will be offered special interest rates, asked for minimal documentation and your application will be processed on priority. You can also pay your EMI through standing instruction to debit your account.
Kotak Mahindra offers a Personal Loan for any of your personal requirements. You can use it for your child's higher education, purchasing consumer durables or a personal computer, a car or a two wheeler, to meet the expenses of family functions, to go on a vacation, to consolidate your expensive debt into a cheaper debt - or just about any personal payment requirement!
All resident individuals meeting our criteria can apply for a personal loan with Kotak Mahindra Bank.
Yes, you might be eligible for an additional amount if it has been 6 months or more since you have availed of your loan. To find out if you are eligible, please apply online and let our relationship manager call you.
Fill in your details online, check you eligibility and apply thereafter by completing the online application form. Our Relationship Manager will get in touch you to take your application ahead.
At the time of booking of your loan, the EMI (Equated Monthly Installments) is calculated based on the loan amount sanctioned, interest rate and tenure.
Yes, it is possible to change the Installment date.
PDC's need to be swapped at least 7 working days pre / 7 working days post the Installment date. Charges applicable would be Rs. 500/- per instance plus applicable service tax.
Re-schedulement or postponement of EMI is not possible on your personal loan account.