Avail Instant Personal Loans ✓ Loan up to 50 Lakhs ✓ Quick Disbursal ✓ Minimum Documentation!

In case of financial emergencies, people without plans suffer the worst. To avoid unnecessary stress during financial emergencies, you can easily avail a personal loan. Personal loans can fulfill your planned and unplanned expenses. Many banks and NBFCs are offering different personal loan options for different needs. Kotak Mahindra Bank too offers personal loans which are quick and hassle-free to avail. Read ahead to know why and how you should apply for Kotak Personal Loan.

Kotak Mahindra Bank Personal Loan Features & Benefits

Consider the features and benefits of the Kotak Personal Loan before deciding which personal loan you should choose.

Interest rate

Starts from 10.25% and goes up to 24% per annum

Loan amount

  • Minimum - Rs. 50,000

  • Maximum - Rs. 25 Lakhs

Loan tenure

Up to 5 years

Loan type

Unsecured loan (No need of any collaterals)

Processing Fee

Up to 2.5% of the loan amount + GST and other applicable statutory levies.

Foreclosure Charges

  • 1 to 3 years after loan approval - 4% of the outstanding principal + GST

  • After 3 years - 2% of the outstanding principal + GST

Part Prepayment

Part prepayment is allowed but is subjected to prepayment charges.


100% digitized procedure with paperless processes.

Top Up offer

Avail Top Up on the loan after 9 months of sanction date.

*Interest rates and charges are subject to changes.

Kotak Mahindra Bank Personal Loan Eligibility 

To avail a Kotak Mahindra Personal Loan, you have to fulfill certain criteria. Take a look at the Kotak Mahindra Bank Personal Loan eligibility criteria here.

Employment type

Salaried individuals are preferred. The applicant should be employed with an MNC, public limited company, or private limited company.


Minimum: 21 years

Maximum: 58 years

Monthly income

For a Corporate employee: Rs. 25,000

For a Non-Corporate employee: Rs. 30,000

For an employee of Kotak Mahindra Bank: Rs. 20,000

Educational qualification

The applicant should have a graduate degree.

Work experience

At least 1 year


The applicant must be a resident of the current city for at least one year.

CIBIL score

750 and above

Kotak Mahindra Bank Personal Loan EMI

There are a huge number of Kotak Mahindra Bank Personal Loan EMI Calculators available online. To check your monthly repayment amount, you can use the Finserv MARKETS Personal Loan EMI Calculator. Follow the steps to calculate your EMI easily.

  • Enter your Kotak Personal Loan details, including preferred loan amount, tenure and Kotak Personal Loan interest rate.

  • Click on ‘Calculate’ to check your EMI and processing fee.

  • Your monthly EMI will be displayed on the screen.

Calculating the EMI, you have to pay each month will help you get a better idea about the personal loan you are going to choose. This way, you can choose the one with lower EMI and stay within your monthly budget. 

Kotak Mahindra Bank Personal Loan Interest Rate

Kotak Bank Personal Loan interest rate varies from person to person depending on various factors like loan amount, tenure, monthly income, applicant’s relation with the bank, credit score, etc. Still, Kotak Mahindra Bank offers very low interest rates for personal loans compared to other banks. Take a look at the interest rates at which competitors are offering personal loans. 


Maximum Loan Amount

Interest Rate

Kotak Mahindra Personal Loan

Rs. 25 Lakhs

10.25% - 24%

HDFC Personal Loan

Rs. 40 Lakhs

10.50% - 21.00%

ICICI Bank Personal Loan

Rs. 20 Lakhs

10.50% - 19%

Axis Bank Personal Loan

Rs. 15 Lakhs

10.49% onwards

IndusInd Bank Personal Loan

Rs. 15 Lakhs

11.00% onwards

*Interest rates are subject to change.


How to Apply for Kotak Mahindra Bank Personal Loan

You can easily apply for a Kotak Personal Loan online. Follow the below-mentioned steps to apply for one.

  1. Visit the official website of Kotak Mahindra Bank.

  2. Go to the ‘Personal’ section on the left side of the top menu bar.

  3. Choose the ‘Personal Loan’ section from the page.

  4. Click on the ‘Apply Now’ tab.

  5. Another page opens, where you have to authenticate your details.

  6. If you are an existing Kotak Bank customer, then enter your mobile number and date of birth. If you are a new customer, then fill in all the details asked for.

  7. Next, you will be directed to a page where you have to fill in the application form.

  8. Enter the personal, professional and financial details asked for.

  9. Submit the fully filled form.

  10. Once the form is submitted, the bank will check your eligibility and let you know the details.

  11. If you agree to the terms and conditions of the loan offered, you can submit the essential documents.

  12. Your documents will be verified, and on successful verification, the loan amount will be disbursed immediately.

Documents Required For Kotak Mahindra Bank Personal Loan

Since the Kotak Mahindra Bank prefers salaried applicants for personal loans, the documents required for the loan approval is very minimal. Here is the complete list of required documents for availing a Kotak Personal Loan.

  • Completely filled loan application form

  • 2-3 passport size photographs

  • Proof of Residence - Passport/Voter ID card/Driving license/Postpaid utility bill like gas bill, electricity bill, etc

  • Proof of Identity -Aadhaar Card/PAN card/Passport/Voters ID card/Driving license

  • Salary slip for the last 3 months

  • Bank Statement for the last 3 months with income details

Disclaimer: The information provided here is for informational purposes only. Please visit the official website and carry out your research before you avail any services.

FAQs on Kotak Mahindra Bank Personal Loan

  • ✔️What is the maximum personal loan amount that can be sanctioned by Kotak Mahindra Bank?

    The maximum personal loan amount that can be sanctioned by Kotak Mahindra Bank is Rs. 25 Lakhs.

  • ✔️Is there an age limit to apply for Kotak Mahindra Bank Personal Loan?

    Yes, there is. The applicant should be between 21 and 58 years of age.

  • ✔️How much time is taken for the Kotak Mahindra Bank Personal Loan to be approved?

    Once the applicant submits the application form and the required documents as per Bank's criteria, he/she can expect the approval and disbursal of the personal loan within 48 hours.

  • ✔️How can I calculate Kotak Mahindra Bank Personal Loan EMI?

    You can calculate the EMI you need to pay every month for a Kotak Personal Loan using a Kotak Personal Loan EMI calculator available online.

  • ✔️How can I get in touch with Kotak Mahindra Bank customer care?

    To get in touch with Kotak Mahindra Bank customer care, call on 1860-266-2666 or if you are an 811 customer dial 1860-266-0811.