Kotak Mahindra Bank provides Personal Loans up to Rs. 20 Lakhs at attractive interest rates starting 10.30% p.a. for salaried individuals working for the government or reputed organisations.
Any individual who is Indian resident and is an active employee of a public, private limited or multinational company is eligible to avail a Personal Loan from Kotak Mahindra Bank.
|Age||Minimum 21 years to Maximum 58 years|
|Income||Minimum Rs. 20,000 per month|
|CIBIL Score||700 and above is ideal|
|Minimum work experience||1 year|
|Minimum active residence in a city||1 year|
Additional Info: how to open Kotak 811 account online?
Any query related to loan visit Kotak Personal Loan Customer Care service.
MyMoneyMantra features a fast, easy to use, instant, online Personal Loan Eligibility Calculator. All you need to do is just provide the details on our website. The personal data such as salary, age, income, home loan, EMI and other similar details are to be filled on our website. After clicking the "Check for eligibility" tab, we shall instantly provide you the Personal Loan amount you are eligible to avail from the bank.
|Loan amount||Rs. 50,000 - Rs. 20 Lakhs|
|Interest rate||10.30% p.a. onwards|
|Tenure||1 - 5 years|
|Lowest EMI possible||Rs. 2,149 Per Lakh|
|Processing fees||Up to 2.5% of the loan amount + GST & other applicable statutory levies|
|TAT||The bank disburses funds to your account in just 3 seconds of approval, subject to meeting eligibility.|
|Personal Loan Eligibility by Banks|
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The minimum age of the applicant eligible for a Personal Loan from Kotak Mahindra Bank is 21 years while the maximum age is 58 years.
You can foreclose your Personal Loan only after 12 months of servicing the loan.
Adding your spouse's income while applying for a Personal Loan will combine your income with the income of your spouse. This will increase your loan eligibility and you can get a higher loan amount sanctioned.
No, the bank does not allow part prepayment. You can only opt for full foreclosure of the loan and that too after servicing the loan for 12 months.
Kotak Mahindra Bank provides Personal Loan to an eligible applicant of up to a maximum of Rs. 20 Lakhs.
Kotak Bank charges a processing fee of up to 2.5% of the loan amount + GST & other applicable statutory levies
Yes, Kotak Mahindra Bank considers CIBIL Score a very important factor for deciding the eligibility of a Personal Loan. Kotak Mahindra Bank considers a minimum CIBIL score of 700 to be eligible for a Personal Loan. Any person with a bad credit record is denied Personal Loan by Kotak Mahindra Bank.
Kotak Mahindra Bank offers Personal Loans with the lowest EMI per Lakh as low as Rs. 2,149 Per Lakh at an interest rate of 10.50% per annum for the tenure of 5 years.