Kotak Mahindra Bank Personal Loan offers 2021

Apply for Kotak Mahindra Bank personal loan for consumers earning a minimum monthly salary of Rs.20,000, with interest rates ranging from 10.50% to 16.99% per annum. Customers can get loans between Rs.50,000 and Rs.15 lakh depending on their eligibility, with a minimum of 1 year and a maximum of 5 years. A processing fee of up to 2.5% of the loan amount is charged by Kotak Mahindra Bank. You can check the details of Kotak Mahindra Bank Personal Loan and their highlights listed below.  

Kotak Mahindra Bank Personal Loan Highlights  

Listed below are the highlights of Kotak Mahindra Bank Personal Loan Interest Rateloan amount, credit score, repayment tenure, and other details: 

Particulars  Salaried 
Interest Rate  10.50% up to 16.99%p.a. 
Processing Fee  Up to 2.5% including GST 
Loan Tenure  1 to 5 years 
Loan Amount  Rs.50,000 up to Rs.15 lakh 
Salary / Income  Minimum monthly income of Rs.20,000 
Employment Status  Salaried Individual 
Credit Score  750 
Lowest EMI per lakh  Rs.2,187 
Pre-Payment/Foreclosure Charges  5% of Outstanding Principal + GST 
Overdue EMI Interest  3% per month on the amount due 

Factors affecting Kotak Mahindra Personal Loan interest rates 

  • Repayment period: The longer the repayment period, the greater the interest rate specified for the loan. 
  • The credit score of the applicant: Kotak Mahindra Bank considers the individual’s repayment history, which is reflected in his or her credit score. Due to the risk involved, the bank will charge a higher interest rate if the individual’s credit score is low. 
  • Individual income: With a minimum criterion of Rs.20,000 to be qualified for a personal loan from Kotak Mahindra Bank, the individual’s income plays a significant impact in the interest rate granted by the bank. In general, the greater the interest rate established by the lender, the smaller the individual’s income. 
  • Relationship with Kotak Mahindra Bank: If the applicant has a long-standing relationship with the bank, the bank may be able to offer him or her a cheaper interest rate. 

How to apply for Kotak Mahindra Bank Personal Loan Online? 

Kotak Personal Loans are simple to apply online. The procedure is straightforward. In three simple steps, you may apply for a personal loan with Kotak online. 

  • Step 1: Give the Bank your basic information so they can get to know you better. 
  • Step 2: Find out if you’re eligible for a Kotak Personal Loan. 
  • Step 3: Submit a set of required documents, such as evidence of residency, proof of income, and proof of employment, and the bank will receive your loan application in just a few minutes. 

Kotak Mahindra Bank Personal Loan CIBIL Score  

You must have a decent CIBIL score to get a personal loan from Kotak Mahindra Bank. Yes, your three-digit numeric summary is something that lenders pay close attention to. So, if you want to have a stress-free journey, make sure you have a score of 700 or above out of 900. It will be simple for you to get the finest offer if you use this score. 

Kotak Mahindra Personal Loan Top-Up 

Kotak Mahindra Bank provides a personal loan top-up to customers who have taken out a personal loan from the bank.  

  • The bank uses this program to determine if there are any outstanding EMIs, bounced checks, the customer’s job stability, and the total quantity of loans accepted.  
  • After taking into account all aspects of Kotak Mahindra Bank’s features as well as the customer’s credit risk, the bank gives a personal loan top-up within two working days at either the current rate or a reduced rate.  
  • Easy Top Up on Personal Loan from Kotak Mahindra allows you to cover additional expenses without stress. 

Features and benefits of Kotak Mahindra Personal Loan Top-Up  

The primary features and advantages of a Kotak Mahindra Bank personal loan top-up are listed below. These may persuade you as to why you should use it when necessary. 

  • There are no collateral or security requirements. 
  • Paperwork is kept to a bare minimum, and documentation is simple. 
  • An appealing interest rate 
  • Application processing and loan disbursement are both expedited. 
  • EMIs offer a variety of repayment choices. 

Features and benefits of Kotak Mahindra Bank Personal Loan Balance Transfer  

  • An additional top-up loan of up to 100 percent of the personal loan amount is available. 
  • There is no obligation for collateral security. 
  • Documentation that isn’t a pain to work with and paperwork that isn’t a slog 
  • Attractive interest rate 
  • Money disbursement is simple and quick. 
  • EMI loan repayment choices are flexible. 


You can meet your needs with the best bank for a personal loan from Kotak Mahindra Bank. Thus, Kotak Mahindra Bank personal loan is the answer to all your financial needs, from arranging a large event to dealing with an emergency. You can get the low-interest rate offered by Kotak Mahindra Bank, eligibility check for the loan, repayment tenure, and check CIBIL Score for availing the loan. You can apply for a personal loan from the comfort of your own home or office, ensuring a seamless experience.