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Home Kotak Mahindra Bank Personal Loan

With Flexible repayment with tenor up to 60 months Kotak Mahindra Bank brings you Personal Loans of up to ₹ 30 lacs with interest Rates from 10.75%* onwards. We fund customers working with listed and unlisted companies accordingly with Hassle-free documentation process. need not to say No Security or Guarantor required for personal loans and business loans. Best services offered with part payment and foreclosure facilities subject to profile.

Kotak Mahindra Bank Personal Loan Eligibility Criteria

  • Salaried individuals Any individuals working in a company with a net take-home salary of 40,000 per month getting credited in the bank account.
  • Self Employed Professionals  Doctors, Chartered accountants, Company secretaries, and architects, etc. Bajaj would also fund the practicing professions
  • Self Employed Non Professions Traders and Manufacturers, Retailers, Directors, Proprietors, Service providers ,etc..
  • Entities Partnerships, LLP’s, Private Limited Companies, and closely held limited companies.

Personal Loan Fees & Interest Rates

Customized Interest Rates10.5% to 18% per annum
Processing Fees1% to 2.5%
Loan Tenure12 to 60 months
Eligibility Criteria> ₹ 36,000 net takehome per Month
Loan AmountUp to ₹ 30,00,000

Required Documents for Kotak Mahindra Personal loan

Kotak Mahindra Bank requires a set of documents for authentication purposes for your personal loan:

  • Photo Identity Proof: – (Self-attested copy of any one document) Passport, PAN Card, Voter Identity Card, Driving License, Aadhaar Card
  • Address Proof:- (Self-attested copy of any one document) Ration Card, Passport, Bank Account Statement, Aadhaar Card, Driving License, Electricity Bill, Telephone Bill, Sale Deed/ Property Purchase Agreement (for owned properties)
  • Income Proof – (Self-attested copy of any one document)
  • For Salaried Individuals: – Last 3 months/6 months bank statement (dependent on scheme) showing salary credits, Latest 3 months Salary Slip
  • For Self-Employed Individuals: 2 years ITR, P&L and Balance Sheet for the last 2 years, Last 3 Months Bank Statement, Ownership Proof, Business Proof (Self-attested copy of any one document)
  • For Self-Employed Individuals:-Qualification Certificate/Certificate of Practice (COP), Shop Act License/ MOA & AOA/ Sales Tax/ Vat registration/ Partnership Deed

How to Apply

  • Online Application: – You can apply for a personal loan online by filling a form on the website. By applying for a personal loan online you can get your eligible loan amount instantly.
  • Document Submission: The relationship manager will fix up an appointment to come to your premises and collect the requisite documents for quick personal loans.
  • Verification: After your documents have been collected, your personal loan application will be verified; this may involve a personal discussion with you.
  • Approval & Disbursal: If the reports are satisfactory after verification, your loan will be approved and the money will be deposited in the same bank account for which the statement has been provided.

Check your Eligibility

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Know your Offer

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Know your Offer - Bajaj
Minimum annualized percentage rate is 10.5% to 26% with a flexiable repayment period of 12 to 60 months. Also full repayment in 30 days or less is not allowed.
Consider a salaried customer avails a Personal Loan of ₹1 Lakh at an interest rate of 14%. The lenders also charge a processing fee, that needs to be paid to get the loan processed and is usually 0-3% of the loan amount. Consider the processing fee to be ₹2250 for a tenure of 60 months. Then, the total interest payable is ₹39,609 and total amount payable is ₹1,41,859. The EMI will be ₹2,326 per month
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