Kotak Mahindra Se Personal Loan Kaise Le: Kotak Mahindra offers a personal loan of Rs 20 lakh at 10.25% interest rate for up to 5 years. One can get instant approval of Kotak Personal Loan by starting paperless online application.
Kotak Mahindra Personal Loan Details
Kotak Mahindra Personal Loan can be availed fast online for both planned and unplanned expenses. You can avail instant personal loans up to Rs 20 lakh for a maximum tenure of 5 years at an interest rate starting from 10.25% to 24% p.a. In order to provide maximum customer satisfaction, the Bank assures 100% digital processing. Key Features of Kotak Mahindra Personal Loan:-
|loan amount||50000 to 20 lakh|
|Rate of interest||10.25% to 24%|
|repayment period||up to 5 years|
|Possible Minimum EMI||Rs 2,149 per lakh|
|processing fee||Flat Rs.999 for limited time period*|
Features of Kotak Mahindra Personal Loan
100% Digital Process: Kotak Mahindra Personal Loan can be availed in digital form instantly. The bank offers 100% paperless and contactless loans which can be processed online.
Loan Amount: Kotak Mahindra Personal Loan can be availed as per your requirement up to Rs 20 lakhs, which can be used for marriage, travel, education or any kind of emergency.
Repayment Tenure: You can choose a tenure of up to 5 years as per your requirements and repayment capacity.
Interest Rate : Kotak Mahindra Personal Loan interest rates start from 10.25% to 24% p.a.
Unsecured Loan: Kotak Mahindra Personal Loan does not require a guarantor or any collateral.
Minimum Documentation: The bank ensures paperless loan applications for its customers. Apply online and upload documents for faster processing.
Foreclosure charges: Foreclosure is allowed after 12 months of successful repayment of Kotak Personal Loan.
Processing fee: The processing fee on a personal loan is Rs 999 for a limited time period.
Kotak Mahindra Personal Loan Eligibility Criteria
Kotak Mahindra Bank Personal Loan eligibility criteria can be easily met. A wide variety of clients can apply including salaried, self-employed and working professionals.
- Age : 21 to 58 years
- Minimum Monthly Income: Rs 20,000 for Kotak Bank employees and Rs 25,000 for Kotak Corporate Salary account holders
- Minimum work experience: At least 1 year.
- CIBIL Score: Above 750
- Residence: The applicant must be an active resident of any city for at least 1 year.
Kotak Mahindra Personal Loan Charges
Apart from the interest rates, you should also be aware of the other personal loan charges associated with it:
|Rate of interest||11.5% to 24%|
|processing fee||Up to 2.5% of the loan amount + Tax|
|stamping charges||Applicable as per the Stamp Act of the respective State|
|credit administration fee||Zero|
|credit appraisal fee||Up to 5% of the loan amount, or up to Rs.7500.|
|overdue interest||3% of overdue amount|
|collection fee||Check / Instrument dishonor fee + 30% of overdue interest|
|dishonor fee||Rs.750.00 per instance (inclusive of Service Tax/GST and other applicable statutory charges)|
|Swap Fee (Replacement of PDC)||Up to Rs.500 per swap per instance + tax|
|Prepaid interest / foreclosure charges||After 12 months, 5% foreclosure charge + GST on outstanding principal|
|Duplicate issue of NOC||500 rupees + tax|
Documents Required for Kotak Mahindra Personal Loan
- duly filled application form
- 2-3 passport size photographs
- Identity Proof (Any One): Aadhar Card / PAN / Voter ID Card / Passport / Driving License
- Address Proof (Any one): Passport/Driving License/Electricity Bill/Ration Card.
- Income Proof for Salaried Individuals : Last 3 Months Bank Statement / Last 3 Months Salary Slip
- Income Proof for Self Employed / Business Owners : Tax Registration / Company Registration License / Shop Establishment Proof
- Savings and Current Bank Account details for the last one year
- Income Tax Return for the previous financial year
Kotak Mahindra Personal Loan Customer Care Number
To get in touch with the Kotak Mahindra Personal Loan team, call their customer care number 1860 266 2666 between 9 AM to 6 PM from Monday to Saturday, except holidays.
Enter your complete details by clicking on the link given below to apply Kotak Bank Personal Loan online.
Benefits of taking Kotak Mahindra Personal Loan
There are many benefits of applying for Kotak Mahindra Bank personal loan. You can avail an amount of up to 20 lakhs at an attractive interest rate starting from 10.50%. Plus, approvals and approvals are fast and hassle free. You can easily access the loan for various needs. Documentation is minimal and you are guided digitally at each step. Overall, Kotak Personal Loan saves you time by ensuring faster disbursement for urgent cash requirements.