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

Personal loans offer financial support to people for their planned and unplanned lump-sum expenditures like education fees, wedding expenses, renovation, etc. Availing a personal loan for these lump-sum expenditures keeps you stress-free financially.  Many banks and NBFCs are offering different personal loan options to cater their different needs and goals. 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 via Bajaj Markets.

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 10.99% p.a.

Loan amount

  • Minimum - ₹50,000

  • Maximum - ₹25 Lakhs

Loan tenure

Up to 5 years or 60 months

Loan type

Unsecured loan (No need of any collateral)

Processing Fee

Up to 1.10% - 1.50% 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

Only for loans disbursed after 1st February 2020

Post completion of 12 months - Up to 20% of Principal loan outstanding.

Top Up offer

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

Loan Amount Disbursal

Instantly (Up to ₹5 Lakhs)

Within 48 hours (Up to ₹25 Lakhs)

*Interest rates and charges are subject to changes.

Kotak Mahindra Bank Personal Loan Eligibility

To avail a Kotak Mahindra Personal Loan, you have to fulfil 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: 60 years

Monthly income

  • For a Corporate employee: ₹25,000
  • For a Non-Corporate employee: ₹30,000
  • For an employee of Kotak Mahindra Bank: ₹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

Calculate EMI for Kotak Mahindra Personal Loan

Loan Amount
  • Months
  • Years
Rate of Interest

Monthly EMI

at % interest rate for months

Total Amount Payable
Principal Amount
Total Interest Amount
Year Principal Interest Balance

To check your monthly repayment amount, you can use the Bajaj 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.

Lending Partner Name

Interest Rate Range

Avail Laon

Bajaj Finance Limited

13.5% p.a. Onwards

Apply Now


30% p.a. Onwards

Apply Now


14% p.a. Onwards

Apply Now


15.95% p.a. Onwards

Apply Now

IIFL Finance

18% p.a. Onwards

Apply Now


21% p.a. Onwards

Apply Now


15% p.a. Onwards

Apply Now

L&T Finance

11% p.a. Onwards

Apply Now


16% p.a. Onwards

Apply Now


24% p.a. Onwards

Apply Now

Muthoot Finance

14.50% p.a. Onwards

Apply Now

PaySense Partners

14% p.a. Onwards

Apply Now


9.99% p.a. Onwards

Apply Now


2% p.m. Onwards

Apply Now

SMFG India Credit

12% p.a. Onwards

Apply Now


1.5% p.m. Onwards

Apply Now


10.99% p.a. Onwards

Apply Now

*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 as well as offline as per your comfort and convenience. Follow the below-mentioned steps to apply for one.

  • Filling Details Online: Enter your personal and income details.

  • Select your Lending Partner: From the list of offers, select Kotak Mahindra Bank.

  • Specify Personal Loan Details: Choose the loan amount and repayment tenure.

  • Approval & Disbursal: Get online approval and the amount after the verification.

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.

  • Last 3 months salary slips

  • Last 3 months Bank statement

  • PAN and Aadhaar card

  • Residential proof, if the current residential address does not match with that of Aadhaar (Driving License, Passport, Voter ID)


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

Yes, there is. The applicant should be between 21 and 60 years of age.

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.

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.

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.

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