Kotak Mahindra Bank Personal Loan

For Instant Approval ↓Apply Here↓

I have read the Privacy Policy & Agree to Terms & Conditions and authorize Dialabank & its partner institutions to Call or SMS me with reference to my application.

Why us?

Rates as low as 10.99%*
Loans Up to 30 Lacs
Same Day Disbursal
Doorstep Service
Unbiased Experts Advice

Kotak Mahindra Bank Personal Loan

Kotak Mahindra Bank Personal Loan

Everyone suffers from financial crisis in life. A personal loan is the best option for fulfilling your dreams or balancing your debts. In this loan, you don’t have the tension of collateral. The banks provide you with the loan based on your CIBIL  score. You are free to use the amount as per your needs. Apply today for a personal loan on our website and avail exclusive deals from Kotak Mahindra Bank. 

About Kotak Mahindra Bank

Kotak Mahindra Bank is a private bank of India. It was established and got a license from RBI in 2003. It provides financial products to the customers. The major products of the bank are loans, banking, insurance, investment banking, and wealth management. The bank is praised and preferred by the customers for its excellent products and services.

Kotak Mahindra Bank Personal Loan Uses

  1. Kotak Mahindra Bank Personal Loan can be avail for educational purposes.
  2. You can also apply for a Personal Loan to handle wedding expenses.
  3. You can also opt for the option of Personal Loan to pay off your Credit Card bills and medical bills.
  4. Personal Loan can help you with the Renovation of your house.
  5. You can also use the Personal Loan for buying the used vehicle.
  6. Furthermore, you can avail a Personal Loan to boost your business.
  7. Farmers prefer to get a personal loan for agricultural activities.

Interest rate of Kotak Mahindra Bank Personal Loan

  1. Kotak Mahindra Bank Personal Loan provides you with the loan at meagre interest rates as compared in the market.
  2. It depends on your income and the applicant type, i.e. whether you are a salaried, self-employed or a pensioner applicant.
  3. It usually starts at 10.75% per year.

Kotak Mahindra Bank Personal Loan Benefits

  1. Loan Amount: From Rs.50, 000 – 50 lakh* you can avail of a loan for any purpose based on your income and repayment capacity and fulfil all your financial needs.
  2. Quick approval: With a Personal Loan of Kotak Mahindra Bank, turn your dreams into reality in as less as 72 hours.
  3. Hassle free processing and Minimal paperwork: Leave you tension and hassle-free on our minimal document requirements. Worries are kept at bay additionally, as no security or collateral is required.
  4. Options of Flexible repayment: For salaried customers, our flexible loan tenors are range from 12 – 60 months and for people in business or professionals, who don’t overburden you with a worry to pay hefty EMIs are range from 12- 36 months.
  5. Document Pickup Service at your doorstep: Fix an appointment with any of our representatives and your loan formalities can be assisted by them. Interest Rates: 13.25% to 24%

Kotak Mahindra Bank Personal Loan Eligibility

There are some rules for the applicant who wants to apply for Kotak Mahindra Bank Personal Loan. The eligibility criteria are as follows:

Kotak Mahindra Bank Personal Loan : For Salaried Applicant

  1. The age required for the salaried applicant should be 21 minimum to 60 maximum. 
  2. The income of the salaried person should be at least 18,000 per month. It is must have a salary account as a loan is not provided to the person to gets his salary on the hand.
  3. CIBIL score should be more than 700.
  4. Id proof required for the salaried applicant is aadhar card/pan card,/voter card.
  5. Address proof required for the salaried applicant is Adhaar Card/Pan Card/Voter Id /Passport/Driver License/Electricity, Bill.
  6. The minimum employment tenure of the applicant should be at least 12 years in a specific company.
  7. The salaried applicant can get a loan minimum of 1.5 lakh to a maximum of 20 lakhs depending on the salary of the applicant.

For Self Employed Applicant

  1. The age required for the Self-Employed applicant should be 25 minimum to 65 maximum.
  2.  ITR is a must process. It should be at least 2.5 from last three years.
  3. CIBIL score should be more than 700.
  4. Id proof required for the salaried applicant is aadhar card/pan card,/voter card.
  5. Address proof required for the salaried applicant is Adhaar Card/Pan Card/Voter Id /Passport/Driver License/Electricity, Bill.
  6. The minimum employment tenure of the applicant should be at least  60 years.
  7.  The self-employed applicant can get a loan of a minimum of 1.5 lakh to maximum 50laks depending on the CIBIL score of the applicant.

Kotak Mahindra Bank Personal Loan Documentation

The Documentation Procedure of the Kotak Mahindra Bank Personal Loan are as follows:

One Identity Proof

There are more than one documents that you can present as proof of your identity. It can be one of the given.
1.     Aadhar Card
2.    PAN Card
3.    Driving License
4.    Voter ID Card    

One Residence Proof

1.    Aadhar Card
2.    PAN Card
3.    Driving License
4.    Voter ID Card
5.    Ration Card
6.    Electricity and water Bills for the last six months.

Income Proof 

Salary slips of last three months and bank statement of last six months. In the case of self-employed applicant ITR of the previous three years is required.
2 Passport sized coloured photographs.
 

Kotak Mahindra Bank Personal Loan Features

  1. The procedure of the Kotak Mahindra Bank Personal Loan is simple.
  2. The documentation policy is minimal.
  3. Loan approval is quick if your documents and eligibility are suitable for the Kotak Mahindra Bank Personal Loan.
  4. Kotak Mahindra Bank offers personal loans at less interest rate. The benefits of taking a personal loan from Kotak Mahindra bank are listed below.
  5. Avail loans from Rs.50,000-50 lakhs.
  6. Quick Approval & hassle-free processing.
  7. Minimal paperwork.
  8. Flexible repayment options.
  9. Besides this, you can apply online for a Kotak Mahindra Bank personal loan.
  10. There is no need for any collateral because a personal loan is an unsecured loan.
  11. Repay with easy EMIs
  12. The convenience service at your doorstep.

How to Apply for a Kotak Mahindra Bank Personal Loan?

  • Visit our website in www.dialabank.com
  • Fill the online application form. The contact number is mandatory.
  • Submit all the documents
  • Check your Eligibility: There is an EMI calculator on our site so that customers get to know about their EMI.
  • After your documents are proper, your Loan will get sanctioned quickly.
  • You will get a pickup facility of your documents to your place.
  • Responsive: The customer will get the call within 24 hours.  After filling the above form, our Relationship manager will solve your query with 24 hours.

Why apply for a Kotak Mahindra Bank Personal Loan in Dialabank?

  • Dialabank is the first financial helpline of India having experience of many years.
  • You will get a query response quick.
  • There are no other charges for the customer queries.
  • For further queries, you may call us on 9878981166.

FAQs About Kotak Mahindra Bank Personal Loan

Q. What is Kotak Mahindra Bank Personal Loan?

Kotak Mahindra Personal Loan is a loaning scheme that provides urgent funds to finance all your personal needs. Wedding in your family, a dream vacation, any medical expenses, home renovation, and etc. You can easily avail a loan amount of up to ₹15 lakhs to finance all your immediate monetary needs.

Q. How does Kotak Mahindra Bank Personal Loan work?

You shall first make sure that you meet the minimum eligibility criteria set by the Kotak Mahindra Bank. Once done, submit your documents along with a duly filled application form. Upon verification, the bank approves your loan application and transfers the requested fund to your bank account. You can now finance all your needs and repay your loan through easy monthly installments.

Q. What is Personal Loan rate of interest in Kotak Mahindra Bank?

Personal Loan rate of interest in Kotak Mahindra Bank are fixed and start at 10.99% per annum. A processing fee of 2.5% is also charged along with any other fees as applicable.

Q. What is the procedure of Personal Loan in Kotak Mahindra Bank?

The procedure of Kotak Mahindra Bank Personal Loan includes the following steps:

  • Check your eligibility
  • Apply for Personal Loan as per your need and eligibility
  • Once the bank verifies your details and approves your loan, the amount is disbursed to your account.
  • Use the fund to finance your needs.
  • Pay in easy burden-free EMIs

Q. How can I get Kotak Mahindra Bank Personal Loan?

To get a Kotak Mahindra Personal Loan you can visit their nearest branch with your documents and apply with the banker for a Personal Loan. You can also contact Dialabank to make your loan process hassle-free and to get the best deals and offers from across different banks.

Q. How to apply for Personal Loan in Kotak Mahindra Bank?

Apply for a Personal Loan with Kotak Mahindra by simply visiting the nearest branch or online at Bank’s website. You can also contact Dialabank to compare the offers and deals from different banks and financing companies and avail the best Personal Loan catering to all your needs.

Q. Why apply for Kotak Mahindra Bank Personal Loan?

Kotak Mahindra Personal Loan is a hassle-free and speedy loan scheme that can be availed to finance your personal needs. The loan amount can be used for any personal purpose. The rate of interest in Kotak Mahindra Bank starts at 10.99% per annum.

Q. How much EMI on Kotak Mahindra Bank Personal Loan?

The Kotak Mahindra Bank Personal Loan EMI starts at ₹2170 for a loan amount of ₹1 lakh spread over a tenure of 60 months. The EMI varies depending on the loan amount, loan tenure, and interest rate as payable.

Q. How much CIBIL score required for Kotak Mahindra Bank Personal Loan?

A CIBIL score greater than 750 ensures your Kotak Mahindra Bank Personal Loan approval. It is always a good practice to periodically check your CIBIL score and improve it if needed.

Q. Minimum credit score needed for Kotak Mahindra Bank Personal Loan?

A credit score is a measurement and estimate of your creditworthiness. The higher is it, the better are your chances of getting a loan approved. Bank requires you to have at least a credit score of 700 to consider your application for approval.

Q. How to calculate Kotak Mahindra Bank Personal Loan EMI?

Use your loan amount, loan tenure, and rate of interest to calculate your Personal Loan EMI using the EMI calculator available on Dialabank’s website. You may also use the following formula, E = P x R x [((1+R)^N)/((1+R)^N)-1] where E is your EMI, P is your principal loan amount, R is the monthly rate of interest, and N is the loan tenure in months.

Q. What can I use Kotak Mahindra Bank Personal Loan for?

You can use Kotak Mahindra Bank Personal Loan for a number of financial needs such as funding your marriage or that of a relative, pay all your big and small bills, renovate or repair your home, plan a vacation or a holiday, and etc.

Q. Can I prepay Kotak Mahindra Bank Personal Loan?

Yes, you can prepay your Kotak Mahindra Bank Personal Loan by applying for the same at your loan branch after successful repayment of 12 EMIs. You will be charged with a fee of 5% on your outstanding amount.

Q. How to prepay Kotak Mahindra Bank Personal Loan?

After making 12 successful EMIs, you can easily close your Personal Loan by repaying the outstanding amount along with a minimal foreclosure fee of 5%. All you would need to do is visit the branch and apply for a preclosure on your loan.

Q. How to repay Kotak Mahindra Bank Personal Loan?

Kotak Mahindra Bank Personal Loan can be repaid in easy EMIs through your bank account. You can also pay your loan online through net-banking.

Q. How to repay Kotak Mahindra Bank Personal Loan online?

Kotak Mahindra Bank lets you repay your Personal Loan online through net-banking. You can simply visit Kotak Mahindra Bank’s online payment desk to repay your loan.

Q. What documents are needed for Kotak Mahindra Bank Personal Loan?

Basic KYC documents such as Aadhar Card, PAN Card, income proofs like salary slips, ITR files, and bank statements, along with a duly filled in application form are the only documents you will need to apply for a Personal Loan.

Q. How to check Kotak Mahindra Bank Personal Loan status?

You can easily check your loan status online at Kotak Mahindra Bank’s official website or by contacting their customer care number.

Table of Contents

Share This

Menu