Kotak Bank Personal Loan

With affordable interest rates and adjustable repayment terms, Kotak Bank offers personal loans. There is little to no paperwork required in order to obtain a loan. Kotak Bank with interest rates starting at 10.99%. A maximum loan of Rs.50,000 to 25 Lakhs with a maximum 1 to 5 year repayment period is available to you.

The personal loans offered by Kotak Bankhave low interest rates and flexible payback schedules. A loan can be obtained with little to no paperwork. Interest rates on personal loans from Kotak Bank start at 10.49%, making them a great option for any of your urgent financial requirements. You may be eligible for a loan with a maximum amount of Rs 20,000 to Rs 1 crore and a maximum payback term of 6 months to 5 years.

Interest Rate 10.99%
Maximum Loan Rs.50,000 to 25 Lakhs
Processing Fees 3%
Maximum Loan Tenure 1 to 5 year

Loan Disbursal in 3 hrs*
100% Online Process

A Four-Step Guide to Efficient Financing

Complete Your Basic Details
Check Your Soft Eligibilty
Complete Your Details
Get Disbursal in account

Kotak Bank Personal Loan EMI Calculator



% Interest



Total Payable

Documents Required for the Kotak Mahindra Personal Loan 

Here are the documents required for the Kotak instant loan : 

1) Properly completed application form

2) 1-2 passport-size photographs

3) Identity Proof: Aadhar Card, PAN, Voter ID, Passport, or Driver's Licence

4) Passport, driver's licence, utility bills (such as an electricity bill), ration cards, or any other proof of address are acceptable.

5) For those on salaries, income documentation

  • bank records from the previous three months

  • 3 months' worth of pay stubs

6) Evidence of income for self-employed people and business owners:

  • Tax Registration, a Company Registration Licence, or Evidence of a Shop Establishment

  • Statements of current and savings accounts for the past year

  • returns for the most recent tax year

For both scheduled and unforeseen expenses, a Kotak Mahindra Bank Personal Loan, also known as a Kotak Digi Loan, can be quickly applied for online. With reasonable interest rates ranging from 10.75% to 19.25% p.a. and a maximum term of up to 5 years, you may apply for an instant personal loan up to Rs 25 lakh. The bank promises that Kotak Mahindra Personal Loan applications will be processed entirely digitally to ensure maximum customer satisfaction.

Feature of Kotak Mahindra Personal Loan 

What should you expect when applying for a Kotak Bank instant loan? Let's go through some of the loan's major features.

100% Digital Loan: Kotak Mahindra Personal Loan applications can be submitted promptly online. It can be completed online and is entirely paperless and contactless. Apply online if you require a Kotak personal loan.

Loan Amount: You are eligible to apply for a Kotak Mahindra personal loan up to Rs 25 lakh, depending on your circumstances. These needs may include—but are not limited to—wedding/celebrations, travel, education, or other unanticipated crises or shortages.

Duration: The Kotak Mahindra Bank Personal Loan is a flexible loan product that caters to the needs of the customer. You may choose the term of up to 5 years depending on your needs and ability to make repayments.

Lock-in Time: For loans with a term of up to 18 months, the lock-in time will be equal to 50% of the total term, and for loans with a term more than 18 months, it will be 12 months.

Interest Rate : The best interest rates in the market are offered by Kotak Mahindra Personal Loans, which range from 10.75% to 19.25% per annum.

Unsecured Loan : Kotak Mahindra Personal Loan is an unsecured loan, which implies that no collateral, guarantor, or loan security is needed.

Paperless Process : A step ahead of the competition, KMB ensures that consumers can apply for loans without having to fill out any paper paperwork. Apply online and provide supporting documentation for quick processing.

Fees for Foreclosure: The fees for foreclosure are 4% of the outstanding principal for the first three years and 2% of the outstanding principal for the remaining two years.

Processing Charge: The processing charge for a personal loan is Rs. 3999 or up to 3% of the loan amount.

Process for applying Kotak Mahindra Personal Loan 

Here is a step-by-step breakdown of the application for a Kotak Mahindra Bank Personal Loan apply for your convenience. It is quick, simple, and dependable.

  • On the website's home page, click Personal Loan.

  • Submit the Personal Loan application. Share information about the loan, including the amount and term, as well as personal information, including name, city of residence, type of employment, income, and contact data.

  • You will receive an OTP (one time password) on your mobile device.

  • Log in to the website using your OTP to see the selection of Personal Loan products that best fit your needs and profile.

  • Compare offers or apply immediately for a Kotak Mahindra Personal Loan.

  •  eConnect with the Bank button should be clicked.

  • Your inquiry will be immediately forwarded to the bank.

  • For further information regarding this request, a loan representative will call you.

  • Your next actions, paperwork, and loan processing will be aided by her.

FinCrif Frequently Asked Questions ( FAQ ) 

  1. What are the limits on my loans?

ANS. Your income and ability to repay the loan would decide your personal loan limit.

  1.  Do I need to provide security of any kind?

ANS. Security is unnecessary.

  1. If I prepay my Kotak Mahindra Bank personal loan, would there be any fees?

ANS. The Kotak Mahindra Bank personal loan has prepayment penalties. Only after finishing 12 EMIs is it possible to prepay.

Eligibility Criteria of Kotak Mahindra Personal Loan 

It is simple to meet the requirements for a Kotak Mahindra Personal Loan eligibility . Various customer kinds, including salaried, self-employed, and working professionals, may apply. 

  • 21 to 60 years of age

  • For Kotak employees, the minimum fixed monthly income is Rs. 20,000, while it is Rs. 25,000 for Kotak corporate salary account holders.

  • Graduation or an equivalent degree is the prerequisite.

  • One year of experience is the bare minimum.

  • Minimum 700 on the CIBIL

  • Residence: The candidate must have resided continuously for at least a year in one of the following cities: Mumbai, New Delhi, Bangalore, Chennai, Kolkata, Hyderabad, Pune, Ahmedabad, Noida, Gurgaon, Faridabad, Ghaziabad, Jaipur, Chandigarh, and Kochi.

Fees and Charges of Kotak Mahindra Personal Loan 



Loan processing charges

Up to 2.5% of the loan amount+ service tax / GST and other applicable statutory levies

Documentation charges


Stamping Charges

Applicable as per the respective State's Stamp Act

Credit Administration Charges


Credit Appraisal Charges

Up to 5% of the Loan amount, not exceeding Rs. 7500 (inclusive of GST / Service tax)

Commitment Charges


Overdue Interest

3% of Overdue Amount, compounded monthly on the amount due but unpaid from the date of the amount falling due till the date of actual payment

Collection Charges

30% (inclusive of service tax / GST and other applicable statutory levies) of cheque / instrument dishonour charges+ overdue interest

Dishonour Charges Per Instance

Rs. 750.00 per instance (inclusive of service tax / GST and other applicable statutory levies)

Swap Charges (Replacement of PDCs)

Up to Rs. 500 per Swap per Instance+ service tax / GST and other applicable statutory levies

Prepayment Interest / Foreclosure Charges

lock in period for 12 months. After 12 months, 5% foreclosure charges + service tax / GST on principal outstanding

Duplicate Issue of NOC

Rs. 500 + service tax / GST and other applicable statutory levies per instance

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