Kotak Mahindra Bank Business Loan

Overnight

8.30%

One Month

8.30%

Three Months

8.60%

Six Months

8.80%

One Year

8.90%

Two Years

8.90%

Three Years

8.90%

Loan against property for business purposes

Salaried Individual

Self-Employed Person

9.60% to 10.35%

9.60% to 10.35%

Working Capital Finance (Up to 7.50 Crores)

Micro and Small Enterprises

Non-micro and small enterprises

9.20% to 14%

10% to 15%

Business Loans

All categories

16% to 19.99%

Commercial Vehicle Finance

All types

Prevailing MCLR to 24%

Business Loan

Agri Project Loan

Dealer Finance

Finance against credit card receivables

Channel Finance

Construction Equipment and Infrastructure Finance

Agri SME Business

Transportation, Logistics, Warehouse

Loan against property

Commercial Vehicle Loan

Purpose

To meet all kinds of business requirements

Facility

Overdraft or Term Loan

Features

• Loans available from 3 Lakhs to 2 Crores
• Quick approval process without any hassles
• Minimum documentation
• Flexible repayment options depending on turnover and income
• Easy EMIs
• Doorstep Service

Eligibility Criteria

• Self-employed business people having an annual turnover of 2 Crores
• Manufacturers with a yearly turnover of 1 Crore
• Service providers showing an annual turnover of 50 Lakhs
• Three years of continuity in the business
• Cash Profit for the last two years

Purpose

• Finance for agricultural projects like horticulture, vermiculture, and floriculture, and other land-based projects like mushroom cultivation, medicinal plants, tissue culture, and sericulture.
• Funding for farm mechanisation, crop loans, minor irrigation, land development and other land-related activities.
• Allied agricultural projects like poultry, dairy, piggery, bee-keeping, mushroom units, and fishery.
• Construction of cold storages and rural godowns

Facility

• Term Loans
• Dealer Finance
• Supplier Finance
• Business Loans to promoters

Features

• Availability of dedicated relationship manager
• Project finance
• Wide geographic network
• Project assessment capability

Eligibility Criteria

• SME units engaged in agricultural occupation
• Farmers, food processors, and aggregators
• Traders and Exporters

Purpose

SME units indulging in agricultural activity

Facility

• Working Capital Finance to SME units indulging in agricultural activity
• Funding warehouse receipts

Features

• Dedicated relationship manager available
• Funding depending on the project
• Available over a wide geographical area
• Project assessment capability

Eligibility Criteria

• SME units engaged in agricultural occupation
• Farmers, food processors, and aggregators
• Traders and Exporters

Purpose

Meet financial requirements of two/three wheeler, commercial, and construction vehicle dealers.

Facility

• Term Loans for setting up a new dealership or expansion of the existing network
• Renovation of dealership premises
• Working Capital Term loan for funding supplemental working capital requirements.
• Amortising Term Loan for purchase of property for business expansion and setting up new dealerships.
• Equipment term loan for the purchase of equipment for the service centre
• Working Capital limits for inventory funding, vehicle funding
• Cash Credit facility for funding debtors and spares
• Non-fund based facilities like LC/BG either as a sub-limit or a stand-alone facility

Features

• Personalised service available
• Tailor-made schemes for individual dealers
• Working capital financing options
• Quick processing

Eligibility Criteria

Business units engaged in dealership of commercial vehicles, construction equipment vehicles, and two/three wheelers.

Purpose

• Set up workshop, purchase existing workshop and warehouse, purchase office for transporters/shipping companies/CNF business/ICDs.
• Term loan for rental discounting for warehouse
• Working capital term loan

Facility

• Term Loans
• Working Capital finance
• Balance Takeover of term loan
• Non-fund based limits for LC/BG

Features

• Availability of personalised service
• Tailor-made schemes for each borrower
• Hassle-free processing
• Working Capital facility to fleet owners
• Working Capital facility to dealers
• Project Finance facility available to warehouse construction and logistics company.

Eligibility Criteria

• Individuals, partnership firms, and companies engaged in the transportation and logistics business.
• First-time owners can also avail funding

Purpose

• Purchase of new and used vehicles
• Top up on existing loans

Facility

• Term Loan
• Working Capital finance

Features

• Extensive geographical presence at more than 900 locations across the country
• Easy documentation procedure
• Quick turnaround times
• Flexible repayment tenure depending on turnover
• Repayment tenure ranging between 12 and 60 months
• Customisable financing solutions
• Transparency in operations
• Extensive range of products available

Eligibility Criteria

• Individual, partnership firms, or companies having a minimum of two years of business experience
• Educational institutions, transporters, and captive customers
• Should be local resident for the last two years
• Minimum experience in the field should be 12 months
• First-time owners are also eligible for funding at the bank's discretion

Purpose

Business Loan or Overdraft against credit card receivables

Facility

• Business Loan
• Overdraft
• Maximum loan 3 Crores

Features

• Loans available up to 3 Crores
• Self-employed gets higher eligibility in comparison
• Combination of TL/OD allowed
• Low Processing fees
• Comfortable repayment options
• No stipulation of collateral
• Attractive interest rates
• Speedy disbursement

Eligibility Criteria

• Proprietorship concern, partnership firm, or company
• Sales through credit cards should be more than 60 Lakhs
• Profit making company for the past two years
• The business should be in existence for more than three years
• Applicant should own the premises from where he/she conducts the business.

Purpose

Meet working capital requirements of channel partners or vendors of corporate entities dealing in various products like FMCG, Pharma, healthcare, textiles, and many more.

Facility

Working capital finance

Features

• Easy funding options
• Increases purchasing power and provides liquidity
• Enhances cash flow and working capital
• Tenure to coincide with the trade agreement period with the corporate
• Customised reporting capabilities
• Online submission of invoices
• Collateral necessary

Eligibility Criteria

• Channel partners of corporate entities who enter into a trade agreement with the corporate entity.

Purpose

Loan against property for meeting business requirements such as working capital and expansion of business or purchase of fixed assets.

Facility

• Term Loan
• Overdraft

Features

• Flexible eligibility criteria
• Loans available for 10 Lakhs to 5 Crores
• Loans available against residential, commercial, or industrial property
• Convenient loan tenures

Eligibility Criteria

• The minimum age is 21 years, and the maximum is 65 years at the time of loan maturity.
• Minimum income as per the P/L should be 1.44 Lakhs per annum
• The business should be in existence for three years and making profits for the last two years.

Purpose

Purchase of construction equipment like earth moving equipment, road-building equipment, material-handling and concrete equipment.

Facility

• Term Loans for new and used equipment
• Refinance and Top up facilities available
• Working Capital
• Non-fund-based facilities

Features

• Convenient documentation
• Quick turnaround
• First-time users can also avail loan
• Flexible repayment tenures
• Maximum financing up to 100%
• Repayment tenures between 12 and 48 months

Eligibility Criteria

• Business unit with minimum one years of business stability
• Contractors, plant hirers, and captive customers
• Should be a local resident for a minimum of two years
• Two trade references required
• Guarantor or co-borrower necessary

Long Term Loans

Rupee Term Loan

• Repayment tenures depending on the company's cash flows
• Flexible pricing of loans - Fixed, floating, or external benchmarks
• Structure of credit depends on the security available
• Underwriting and syndication facility available

Off-Shore Foreign Currency Loans

• Facility to choose options based on your requirements from currencies to tenors.
• Manage international banking activities while being based out of India.
• The benefit of the same relationship management team
• Get holistic advice from time to time

External Commercial Borrowings

• Get the benefit of comprehensive information on matters involving hedging, tenor, currencies, and other queries.
• Underwrite and syndicate the company's requirements to the debt capital market.

Working Capital Finance

Cash Credit and Overdraft

• Availability of dedicated relationship manager
• Customisation according to your business requirements
• Flexibility in margin requirements
• Uninterrupted facility
• Quick processing with the benefit of competitive rates
• Incremental working capital requirements available during the growth period.
• Export and import solutions

Demand/Short Term Loans

• Helps manage cashflow mismatches due to unexpected changes in the working capital cycle.
• Supports the corporate in the growth period by providing incremental capital.
• Flexibility in repayment schedules depending on cashflows
• Foreign currency options available for overseas operations

Working Capital Term Loan

• Strengthen financial ratios
• Help rectify the asset-liability mismatch
• Manage temporary problems with business cashflows
• Flexible repayment schedules
• Get the benefit of long tenures for more than five years and up to 7 years.

Supply Chain Financing

• Bill discounting and Invoice financing
• Purchase order financing
• Negotiating of bills under inland LC
• Domestic factoring

Identity Proof

Any one of the listed documents:

PAN Card

Passport

Driving License

Voter's ID

Aadhaar Card

Address Proof

Any one of the listed documents:

Passport

Voter's ID

Driving License

Aadhaar Card

Utility Bills

Bank Statement or Passbook

Ownership Proof

Proof of ownership of residential/commercial property in select locations.

Income Proof

• IT Returns for two years, Balance Sheet, Profit and Loss Statement
• Bank statement for the last six months

Personal Loans

Home Loans

Home Improvement Loan

Home Loan Balance Transfer

Loan Against Security (Kotak Stock Ace)

Education Loan

Car Loan

Gold Loan

Loan Against Property

Current Account

Savings Account

Corporate Salary Accounts

Kotak 3-in-1 Account

Retail Institutional Accounts

Safe Deposit Locker

Recurring Deposit

Fixed Deposit

Senior Citizen Fixed Deposit

Tax Saving Fixed Deposit

Sweep-In Facility

Debit Cards

Credit Cards

Forex/ Prepaid Cards

Health Insurance

Life Insurance

Motor Insurance

Pradhan Mantri Suraksha Bima Yojana

Pradhan Mantri Jeevan Jyoti Bima Yojana

Atal Pension Yojana

Portfolio Management Service

Mutual Funds

Sovereign Gold Bond Scheme

Kotak ASBA Facility

Demat Account

National Pension System

Processing fee

Up to 3% of the sanctioned amount

Documentation

Up to 10,000 per instance

Cheque dishonour

750 per instance

Copy of any document

500 per instance

Repayment mode/ Account swapping

500 per instance

Duplicate NOC or No Dues Certificate

500 per instance

Copy of CIBIL report

50 per instance

Term Loan Specific Charges

Prepayment charges

Within a lock-in period of 12 months - 6% of foreclosure amount

Subsequent foreclosure: 5% on loan foreclosure amount

No foreclosure charges payable for individuals availing term loan @ floating rate of interest

Penal interest

3% p.m. on a compounded basis

Collection charges in case of default

30% of cheque dishonour charges plus penal interest

Amortisation schedule or Account statement

Once in a year: Free

Subsequent requests: 250 per instance

Overdraft Specific Charges

Annual review charges for OD

1.5% of renewal limit or 5,000 whichever is higher

Termination charges

Within a lock-in period of 6 months: 6% of operating limit

Subsequent termination: 5% of operating limit

Penal interest in case of balances over the limit

3% p.m. on the amount over the approved limit

Non-utilisation charges

0.25% of the difference between actual average utilisation and 25% of the average limit during each quarter with a minimum of 1,250, chargeable every quarter.

Interest Certificate Charges

Once in a year: Free

Subsequent requests: 250 per instance

Transportation, Logistics, and Warehousing

Non-submission of stock statement/book debts statement

5,000 per month

Non-submission of insurance policy

1,500 per month

Non-submission of financial statements

5,000 per month

Monitoring of covenants

1,500 for every default

Overdue charges

3% per month

Non-submission of worth statements

5,000 per month

Non-submission of end-use certificate

5,000 per month

Foreclosure statement

3% of the principal outstanding amount

Closure fees

Within six months: 3% of sanctioned limits

Subsequent closure: 2% of sanctioned limits

Temporary OD setting up fees

1000 per request

Ad-hoc/OD setting up

3,000 per request

Stamp duty and other charges

As per actual

Low churning penalty

If utilisation is less than 40%, the penalty for under-utilisation is 2% of average utilisation.

Average utilisation < 50%

10,000 per month

Commercial Vehicle Finance Charges

Processing charges

Up to 2% of the loan amount

Documentation charges

Up to 5,000

Overdue interest

3% of the overdue amount

Collection charges

30% of penal charges

Dishonour charges

750 per occasion

Swap charges

Up to 500 per occasion

Prepayment or foreclosure charges

5% of principal outstanding on the date of repayment

Issue of duplicate NOC

500

CIBIL Copy

50

Amortisation schedule or Statement of account

500

Payment processing

1,000

Valuation for used vehicles

Within the city: 1,000

Outside the city: 1,500

Vehicle repossession

Up to 15,000

Credit administration

Up to 6,000

Duplicate foreclosure statement

500

NOC for national/state permit or change in body type

500

Rebooking of loans

2,500

Change in instalment date

1,000

Change in property

2,000

Copy of any property/loan document

1,000

Asset verification charges and legal charges

Actual

NOC for conversion to commercial/private

2,000

Loan Against Property

Charges are similar to that of Business Loan Term Loans and Overdraft facilities except for the following charges.

Prepayment charges for Term Loan

• No prepayment allowed until the lapse of lock-in period of six months.
• After six months: Minimum prepayment is 25,000, and the maximum is 25% of the outstanding loan amount - No charges if the period between two prepayments is a minimum of 6 months.
• Otherwise: Part payment penalty is 4% of the excess amount
• Foreclosure charges are 4% of the foreclosure amount plus amount prepaid during the last 12 months.
• No foreclosure charges on term loans to individuals @ floating rate of interest.

Non-maintenance of minimum credit turnover charges in OD accounts

Minimum 1% of sanctioned limit every 12 months

Construction Equipment and Infrastructure Finance

Same as that applicable to Commercial Vehicle Finance