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Learn how to make your Kotak Mahindra Bank loan payment online, calculate personal loan EMI, and understand the key charges.
Timely repayment of your loan helps you avoid extra costs and protects your credit score. Kotak Mahindra Bank allows you to pay EMIs online through a secure payment gateway, so you can clear dues using net banking from your preferred bank account.
You can make your Kotak Mahindra Bank loan repayment online through the WebPay facility.
Follow these steps to pay your EMI:
Open the WebPay page for Kotak Mahindra Bank loan payment.
Read and accept the terms and conditions (if displayed on the page).
Click on ‘WebPay Now’.
You will be redirected to the ‘Provide your Kotak Mahindra loan Account no or CRN details’ page.
Select between either of the two options ‘I Know My APAC No’ and ‘I Know My CRN No’.
Enter your loan account number or Customer Relationship Number (CRN).
Re-enter this number for confirmation.
Enter your mobile number and email address.
Input the displayed captcha number in the given box and click on ‘Proceed’.
The system will validate the details you have entered. Once validated, your name and all linked Kotak Mahindra Bank loan accounts are shown on the screen.
Select the loan you want to pay and enter the amount you wish to repay.
Choose your net banking provider from the drop-down list.
Click on ‘Pay’ to be redirected to your bank’s secure net banking page.
Log in with your user ID and password and authorise the payment towards the selected loan account.
After you approve the transaction, the payment gateway processes your EMI.
You receive an online transaction reference number as proof of payment.
Keep this reference number safe for future tracking of your Kotak Mahindra Bank loan repayment.
Understanding your EMI helps you plan Kotak Mahindra Bank loan repayment and manage monthly expenses with ease. It also allows you to compare low interest personal loans before you apply.
To calculate personal loan EMI, you need 3 details:
Loan amount sanctioned by Kotak Mahindra Bank
Applicable personal loan interest rate
Loan tenure in months
The standard EMI formula is:
EMI = [P × r × (1 + r)ⁿ] ÷ [(1 + r)ⁿ – 1]
Where:
P = Principal loan amount
r = Monthly interest rate (annual rate divided by 12)
n = Total number of monthly instalments
Let's understand this calculation with the help of an illustration. Suppose you have taken a Kotak Mahindra Bank Personal Loan of ₹5 Lakhs at a fixed interest rate of 10.99% p.a. for 60 months. Then, as you calculate these numbers according to the given formula, the EMI works out to roughly ₹10,800 per month.
You can use an online EMI tool to calculate personal loan EMI quickly. Enter the loan amount, interest rate, and tenure to estimate your monthly outgo and decide whether the EMI fits your budget.
Knowing the main charges linked to loan repayment helps you avoid surprises while paying EMIs or making changes to your repayment plan. These fees apply to an active loan and are especially relevant when you pay late, change mandates, or prepay.
Here are the key repayment-related charges for Kotak Mahindra Bank Personal Loans:
| Charge Type | Details |
|---|---|
Part-payment Charges |
Post completion of 12 months - Up to 20% of Principal loan outstanding (applicable only for loans disbursed after 1st February 2020) |
Foreclosure Charges |
|
Disclaimer: The fees and charges mentioned above are indicative and may change based on the agreement between Kotak Mahindra Bank and the borrower. Always refer to your sanction letter, loan agreement, or the bank’s official communication for the latest details.
Reference of all T&C necessarily refers to the terms of the Partners as regards to pre-approved offers and loan processing time amongst other conditions.
You usually repay your Kotak Mahindra Bank loan through EMIs via auto-debit from your bank account. You can also make one-time online payments using the bank’s net banking facility.
You can get your loan repayment schedule through customer care, branch, or digital channels. Typically, one physical statement or amortisation schedule per year is free; additional requests may be chargeable.
If you miss an EMI, you will incur late payment charges, and your credit score may be negatively affected. It’s important to stay on top of your EMI due dates to avoid these penalties.
You can obtain your loan repayment schedule through the Kotak Mahindra Bank website or app, or by contacting customer care. The schedule shows your EMI details and outstanding balance.
Yes, you can change your repayment mode. Kotak Mahindra Bank allows repayment mode swaps for a fee of ₹500 plus taxes per instance. This includes changing your EMI date, payment method, or instrument.
Once you make a payment, you will receive a confirmation message or email. You can also download your payment receipt directly from the Kotak Mahindra Bank website or app for future reference.
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