KOTAK MAHINDRA BANK
Business Loan

Kotak Mahindra offers the following types of business loans:

Business Loan

This business loan is available for all small, medium and large businesses for all business needs.

• Loan amount: Rs. 3 Lakhs to Rs. 75 Lakhs.
• Tenure: Up to 48 months.
• Collateral: Not required.

 Dealer Finance

This business loan is for commercial vehicle, two or three wheelers, and construction equipment dealers.

• Loan amount: Rs. 3 Lakhs to Rs. 75 Lakhs.
• Tenure: Up to 48 months.
• Collateral: Not required.

Facility Against Credit Card Receivables  (FCCR)

It is a business loan against credit card receivables available as term loan and overdraft.

• Loan amount: Up to Rs. 3 Crores on the basis of the yearly sales done on the credit card POS facility.
• Tenure: Up to 48 months.
• Collateral: Not required.

Crop Loans

This business loan is for farmers and caters to their working capital needs for meeting the cost of cultivation, purchase of inputs, development of farm, and so on.

• Loan amount: Rs. 3 Lakhs to Rs. 75 Lakhs.
• Tenure: Up to 5 years.
• Collateral: Not required.

Loan Against Property

This loan is obtained against the property and can be used for any business as well as personal financial needs.

• Loan amount: Rs. 10 Lakhs to Rs. 5 Crores.
• Tenure: Up to 15 years.
• Collateral: Mortgage of commercial, residential or industrial property.

Construction Equipment Loan

This loan can be used for purchase of new or old construction equipment, such as material handling equipment, earth moving equipment, road building equipment, and concrete equipment.

• Loan amount: Rs. 3 Lakhs to Rs. 75 Lakhs.
• Tenure: Up to 48 months.
• Collateral: Not required.

Commercial Vehicle Loan

Under this loan you can avail funds for the purchase of new or used commercial vehicles, working capital finance, top-up on existing loans, and more.

• Loan amount: Rs. 3 Lakhs to Rs. 75 Lakhs.
• Tenure: Up to 48 months.
• Collateral: Not required.

Strategic Business Loan

These customised business loans are offered against property or any other asset to help you meet your requirements.

• Loan amount: Rs. 3 Lakhs to Rs. 75 Lakhs.
• Tenure: Minimum 3 years.
• Collateral: Property or any other asset.

Digi OD (Digital Overdraft) Facility

These customised business loans are offered against property or any other asset to help you meet your requirements.

• Loan amount: Up to Rs. 6 Lakhs.
• Tenure: Up to 48 months.
• Collateral: Not required.

Farm Equipment

This business loan can be obtained for purchasing new and old tractors, loader, rotavator, trailer, combined harvesters, dusters, sprayers, threshers, implementation for agricultural or commercial purpose, etc.

• Loan amount: Rs. 3 Lakhs to Rs. 75 Lakhs.
• Tenure: Up to 48 months.
• Collateral: Not required.

Additional Reading: How to increase cibil score fast?

Following are the key features of Kotak Mahindra business loans:

• Loans available from Rs. 3 Lakhs up to Rs. 75 Lakhs.
• Flexible tenure of up to 48 months makes repayment easier.
• Affordable interest rates starting from as low as 16% p.a.
•  Low processing fee of up to 2% of the sanctioned loan amount plus applicable GST & other levies.
•  Fund against credit card receivables (FCCR) available with loan amount up to Rs. 3 Crores.
• Loans available for all business activities.
• Working capital finance available to meet the daily requirements of your business.
• Term loans for procurement of fixed assets or expansion of business.
• Loan against property available for business purposes.

Additional Reading: How to get instant loan for low cibil score?

• Hassle-free processing and quick approval.
•  Flexible repayment options.
• Easy EMIs depending on your business turnover.
• Doorstep service available.
• Easy eligibility norms and minimum documentation formalities.
•  Facility to apply for a Business Loan online.
• Calculate your EMI online.
• No collateral required.

Additional Reading: What is commercial cibil report?

You can easily calculate your Kotak Mahindra Business Loan EMI using the Business Loan EMI Calculator available on Kotak Mahindra Bank or our website.

 To calculate EMI, you will have to enter the following parameters:

• The required loan amount
• Rate of interest
• Repayment tenure

 Here is an illustration:

Loan amount availed: Rs. 10 Lakhs

Applicable rate of interest: 16% p.a.

Tenure opted for: 4 years

In this case, you will have to pay the total interest amount of Rs. 3,60,333 on the borrowed loan. The total amount you have to pay back to the bank will be Rs. 13,60,333 and your monthly EMI would be Rs. 28,340.

Amortization table for the above illustration is given below:

Documents requirement may vary as per the type of business loan to be applied for. Following are the documents required for applying for Kotak Mahindra business loan:

•  Identity Proof: Passport, PAN Card, Driving License, Aadhaar Card, or Voter's ID (any one).
• Address Proof: Passport, Voter's ID, Driving License, Utility Bill, or Bank Account Passbook (updated & no more than 3 months old), Bank Statement, Aadhaar Card (any one).
• Ownership Proof: Electricity Bill, Agreement Copy, Maintenance Bill with share certificate, Municipal tax bill, or Share certificate (any one).
• Business Continuity Proof: Shop & Establishment Certificate or VAT/Service Tax/GST registration (any one).
• Firm Constitution Proof: MOA, Partner Ship Deed, or GST Registration Certificate (any one).
• Financial Documents: Latest 2 years’ financials & Tax Audit Report, and last 6 months’ bank statements of business accounts.

Additional Reading: Top credit rating agencies in India

Kotak Mahindra business loan eligibility criteria are mentioned below:

•  The applicant should be a Sole Proprietor/ Private Ltd Co./ Partnership firm/ Trust/ LLP, involved in manufacturing, trading or services.
• The main applicant’s age should be minimum of 25 years and should not be above 65 years at the time of loan maturity.
• The applicant should be in the business for at least last 3 years.
• The minimum business turnover should be Rs. 40 Lakhs.
•  The business must have generated profit for at least 1 year.

Additional Reading: What is good cibil score range?

Customers can contact Kotak Mahindra Bank to air their grievances or submit feedback by using the following channels of communication.

• Phone: Call Toll-free number 1800-209-5600 from Monday to Saturday between 9.30 am and 6.30 pm.
• Write to Kotak Mahindra Bank: Existing Business Loan customers can use the 'Write to us' option and submit their queries online.
• Email: SME customers can send an email to customerfirst@kotak.com and provide their feedback and questions.
• Chat with Keya: Kotak Bank's chat assistant Keya will also help resolve customer queries

Additional Reading: What is cibil customer care number?

*GST and other applicable statutory levies will be charged over all the charges mentioned above.

You can apply for Kotak Mahindra business loan online through MyMoneyMantra with the following steps:

• Open the Business Loan page given under Loans tab.
• Click on the Compare & Apply button.
• Enter all the required details and click on Let’s Go.
• Choose employment type from given options.
•  Enter your annual turnover, address, and other business related details.
•  Accept the terms & conditions and click on Next.
•  Enter the OTP.
• Compare the options given on the screen and choose Kotak Mahindra Bank as your business loan lending partner. You can choose other lender too.
• Click on Apply Now to submit your application.
• Note down the Application Number for tracking purpose.
• Our representative will get in touch with you soon.