Kotak Mahindra Bank provides personal loans to customers with a minimum monthly salary of Rs.20,000, with interest rates ranging from 10.50% to 16.99% p.a.
Customers can obtain loans ranging from Rs.50,000 to Rs.15 lakh based on their eligibility, with a minimum of one year and a maximum of five years. The processing charges that are charged by Kotak Mahindra Bank are up to 2.5% of the loan amount.
Kotak Mahindra Bank Personal Loan Rate of Interest |
10.99% p.a. onwards |
Maximum Amount |
Rs. 25,00,000 |
Term |
5 years |
Processing Fees |
3% |
Income Requirements |
Rs. 20,000 to Rs. 30,000 |
Following are the types of Kotak Mahindra Bank Personal Loan Schemes-
The Kotak Marriage Loan is provided to satisfy the financial necessities for a wedding, such as an engagement ring and a fantasy honeymoon.
Maximum loan amount: Rs 25 lakh.
Tenure: 1 to 5 years
Medical loans are used to cover unforeseen medical expenses or treatment.
In the event of an unforeseen medical emergency or treatment
Loan Amount: 50,000 to 25 lakh rupees
To satisfy the financial requirements for travel, such as flights, excursions, lodging, travel accessories, and so on.
Loan Amount: 50,000 to 25 lakh rupees
Tenure: 1 to 5 years
Purpose: Collateral-free loans for renovation-related expenses such as contractors' and interior designers' fees, raw material purchases, and so on.
Maximum loan amount: Rs 25 lakhs
Duration: Up to 5 years
Here is the table to show the personal loan interest rate in Kotak Mahindra Bank-
Loan |
Personal Loan Interest in Kotak Mahindra Bank |
Kotak Personal Loan Interest Rate |
10.50% - 16.99%p.a. |
The following are the eligibility requirements for a Kotak Mahindra Bank personal loan-
To obtain a personal loan from Kotak Mahindra Bank, the following documents must be submitted-
Process Fee |
3% |
Stamping Fee |
As per the respective State's Stamp Act |
Overdue Charges |
3% |
Banks/NBFCs |
Interest Rates (p.a.) |
HDFC Bank |
11.00% onwards |
ICICI Bank |
10.75% onwards |
Axis Bank |
10.25% onwards |
IndusInd Bank |
10.49% onwards |
Kotak Mahindra Bank |
10.99% onwards |
IDFC First Bank |
10.75% onwards |
Bajaj Finserv |
13.00% onwards |
SBI |
10.30%-15.10% |
Tata Capital |
10.99% onwards |