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

Borrow large amounts of up to ₹40 Lakhs by opting for a Kotak Mahindra Bank Personal Loan on Bajaj Markets. Enjoy low interest rates starting from 10.99% p.a. and flexible repayment tenures ranging up to 6 years. Furthermore, you can also benefit from the easy online application and hassle-free documentation processes to save time and manage financial emergencies. 

Kotak Mahindra Bank Personal Loan Features & Benefits

Kotak Mahindra Bank Personal Loan interest rates and other associated charges are as follows:

Interest rate

Starts from 10.99% p.a.

Processing Fee

Up to 1.10% - 1.50% of the loan amount + GST 

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

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

(applicable only for loans disbursed after 1st February 2020)

*Disclaimer: The interest rates and charges mentioned are subject to constant change at the lender’s discretion

Kotak Mahindra Bank Personal Loan EMI Calculator

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Features and Benefits

High Loan Amounts

Secure a loan of up to ₹40 Lakhs with this loan

Affordable Interest Rates

Enjoy low interest rates starting from 10.99% p.a.

Flexible Repayment Tenures

Repay the loan over tenures ranging up to 72 months

Quick Disbursal

Get amount of up to ₹5 Lakhs credited to your account instantly post-approval. Amount between ₹5 Lakhs and ₹40 Lakhs will be disbursed within 2 days of being approved.

Zero Collateral

You are not required to submit any asset as collateral when applying for this loan

Top-up Loans

After completing 9 months into the tenure, you can apply for a top-up loan

Eligibility Criteria and Documents Required

To increase your chances of getting approval on your loan application, ensure that you fulfil the Kotak Mahindra Bank Personal Loan eligibility criteria listed below:

  • Employment: Salaried individuals are preferred. The applicant should be employed with any one of the following institutions.

    1. MNC

    2. Public limited company

    3. Private limited company

  • Age: 21 to 60 years

  • Monthly income:

    1. Kotak Bank salary account holders: ₹25,000

    2. Other banks'/NBFCs' salary account holders: ₹30,000

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

  • Educational qualification: The applicant should have a graduate degree

  • Work experience: At least 1 year

  • Residence: The applicant must be a resident of the current city for at least one year

  • CIBIL score: 750 and above


In addition to this, you will also need to submit the documents listed below:

  • Salary slips of the last 3 months

  • Bank statements of the last 3 months

  • PAN card 

  • Aadhaar card

  • Residential proof: Any one of the following if the current residential address does not match the one mentioned on the Aadhaar card 

    1. Driving licence

    2. Passport

    3. Voter ID

How to Apply?

You can easily apply for a Kotak Personal Loan online by following these easy steps:

  • Click on ‘Apply Now

  • Provide your personal and income details

  • Select ‘Kotak Mahindra Bank’ from the list of lenders

  • Choose your preferred loan amount and repayment tenure

  • Click on the ‘Submit’ option

Following the verification of your application, an executive will contact you for further proceedings. 


What is the maximum amount that can be borrowed through Kotak Mahindra Bank Personal loans?

You can borrow amounts as high as ₹40 Lakhs with this personal loan.

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

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

What is the interest rate charged on Kotak Mahindra Bank personal loans?

Kotak Mahindra Bank Personal Loan interest rates start from 10.99% p.a.


What factors affect the interest rates of Kotak Mahindra Bank Personal Loan?

The following factors are taken into consideration by Kotak Mahindra Bank when determining the interest rate for your personal loan:

  • Credit history and score

  • Employment and income stability

  • Existing debt and financial obligations

  • Relationship with the bank

  • RBI policies and market trends

What is the loan tenure for a Kotak Mahindra Bank Personal Loan?

You can get a personal loan from Kotak Mahindra Bank for a tenure of up to 6 years.

How to contact Kotak Mahindra Bank’s customer care?

For any personal loan-related query or grievance, you can reach out to the customer care team by calling the toll-free number 1860 266 2666.

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