Kotak Mahindra Bank Personal Loan Details
Applicants aged between 21 to 58 years are eligible to apply for the Kotak Mahindra Bank personal loan. The bank provides loan amounts starting from Rs 50,000 to Rs 15 Lakhs for a time being of 5 years. As well, the interest rate of the Kotak Bank ranges from 10.99% per year. Job employees and self-employed individuals both can benefit from Kotak Mahindra Bank Personal Loan. Repaying your loan is simple with affordable EMIs, which you can easily calculate using the Kotak Bank EMI calculator.
| Kotak Mahindra Personal Loan | Details |
|---|---|
| Loan Category: | Personal Loan |
| Loans Offering: | Personal Loan, Marriage Loan, Holiday Loan, Medical Loan, Home Renovation Loan |
| Loan Type: | Unsecured personal loan |
| Interest Rate: | 10.99% p.a. onwards |
| Processing Fee: | Upto 2.5% of the loan amount+ GST |
| Approval Process: | Both online and offline |
| Minimum Income Requirement: | ₹20,000 with job for at least 1 year |
| Loan Approval Timing: | 2 days (48 hours) |
| Minimum Loan Amount: | ₹50,000 |
| Maximum Loan Amount: | ₹15 Lakh |
| Minimum Loan Period: | 12 months/ 1 year |
| Maximum Loan Period: | 60 months/5 years |
| Type of Interest Rate: | Fixed Interest Rate |
| Interest Charging Method: | Reducing balance method |
Kotak Mahindra Personal Loan Eligibility Criteria
| Kotak Mahindra Personal Loan | Details |
|---|---|
| Salaried Employees | Yes |
| Salaried Doctors | Yes |
| Employees of public and private limited companies | Yes |
| Government sector employees including Public Sector Undertakings, Central and Local bodies | Yes |
| Loan for Pensioners | Yes |
| Loan for Existing Customers | Yes |
| Self-Employed | Yes |
| Selected Corporate | Yes |
| Other Criteria | Individuals who have had a job for at least 1 year A person who has a minimum educational qualification of being a graduate. An active resident of a city for at least 1 year |
| Minimum Age | 21 years |
| Maximum Age | 58 years at the maturity of loan |
| Minimum Income Requirement | ₹20,000 with job for at least 1 year |