Kotak Mahindra Bank offers personal loans to their customers at a decent interest rate. The loan is also known as an unsecured loan, where the borrowers do not have to pledge any assets against the loan. Moreover, it can be used for multiple purposes, taking a long vacation or planning to renovate your house, a personal loan from Kotak Mahindra Bank can be the best option to do so.
Check Loan Eligibility
Let's Get Started Please Provide Your Basic Details
Error Message
Gender
Error Message
Error Message
@gmail.com @outlook.com @yahoo.co.in @live.com Error Message
We have observed unusual activity from your account, and have restricted access due to security concerns.
Check Loan Eligibility
Let's Get Started Please Provide Your Income Details
Error Message
Error Message
Error Message
Is your company registered for GST?
Error Message
Error Message
Error Message
Error Message
Error Message
Mode of Salary
Error Message
Error Message
Error Message ₹
Do you have a Current Account
Error Message
Error Message
Error Message
Error Message
Mobile Verification
We have sent verification code to your mobile number
+91 Edit
Resend OTP Get OTP through call
Enter a valid OTP!
You will receive OTP within 25 Seconds
Employment Type
Education Type
IMPORTANT INFORMATION
IN RELATION ACCESS TO CREDIT INFORMATION CRIF HIGHMARK
You hereby appoint GC Web Ventures Pvt. Ltd. (hereinafter, "IndiaLends") as your authorized representative to receive your credit information from CRIF Higmark. You hereby irrevocably and unconditionally consent to such credit information being provided by CRIF Higmark to you and IndiaLends, and you hereby agree, acknowledge, and accept the terms and conditions set forth herein.
You hereby also acknowledge that for IndiaLends to service you as a customer to access your credit worthiness, the credit information shall be shared by CRIF Higmark with you and IndiaLends on a quarterly basis in a period of 12 months continuously (4 reports in a year) to ensure that you are able to view your complete credit history. Please read the terms and conditions of this document carefully before accepting. By clicking on the “I Accept” button below, you are expressly agreeing to access the CRIF Higmark credit information report and credit score (as defined in the important information section below and together referred as “credit information”) and share a copy of the credit information with IndiaLends in the “as is” format. Please click on the link below to read and understand the important information section below. ** This document is an electronic record in terms of the Information Technology Act, 2000, and rules made there under, and the amended provisions pertaining to electronic records.
IMPORTANT INFORMATION
CONSENT IN RELATION TO ACCESS TO CREDIT INFORMATION THROUGH EXPERIAN
This End User Agreement (the “Agreement”) is made between you (the “User” or “You”) and GC Web Ventures Pvt. Ltd., a private limited company having its registered office at Plot No. 55, Upper Ground Floor, Saidujalab, Westend Marg, New Delhi – 110030. (“CLIENT”, “Us” or “We”, which term shall include its successors and permitted assigns). The User and CLIENT shall be collectively referred to as the “Parties” and individually as a “Party”. You hereby consent to CLIENT being appointed as your authorised representative to receive your Credit Information (i) for the purpose of determining your credit worthiness through using provider’s Credit Information Report and sharing relevant credit products with You as provided by the financial partners of the CLIENT; and (ii) in relation to credit monitoring that enables the individual consumers to monitor various active loan products, movement of credit score, delayed payments flags etc. as required in accordance with applicable laws, (“End Use Purpose”) on an ongoing basis until the End Use Purpose for not exceeding 6 months or withdrawal of consent; whichever is earlier. BY EXECUTING THIS AGREEMENT / CONSENT FORM, YOU ARE EXPRESSLY AGREEING TO ACCESS THE EXPERIAN CREDIT INFORMATION REPORT AND CREDIT SCORE, AGGREGATE SCORES, INFERENCES, REFERENCES AND DETAILS (AS DEFINED BELOW)(TOGETHER REFERRED AS “CREDIT INFORMATION”). YOU HEREBY ALSO CONSENT TO SUCH CREDIT INFORMATION BEING PROVIDED BY EXPERIAN TO YOU AND CLIENT BY USING EXPERIAN TOOLS, ALGORITHMS AND DEVICES AND YOU HEREBY AGREE, ACKNOWLEDGE AND ACCEPT THE TERMS AND CONDITIONS SET FORTH HEREIN. Terms and Conditions: Information Collection, Use, Confidentiality, No-Disclosure and Data Purging CLIENT shall access your Credit Information as your authorized representative and CLIENT shall use the Credit Information for limited End Use Purpose consisting of and in relation to the services proposed to be availed by You from CLIENT. We shall not aggregate, retain, store, copy, reproduce, republish, upload, post, transmit, sell or rent the Credit Information to any other person and the same cannot be copied or reproduced other than as agreed herein and in furtherance to applicable law including the CICRA. The Parties agree to protect and keep confidential the Credit Information both online and offline. The Credit Information shared to You, or received on by Us on your behalf shall be destroyed, purged, erased immediately upon the completion of the transaction/ End Use Purpose for which the Credit Information Report was procured, this period not being longer than 6 months. Governing Law and Jurisdiction The relationship between you and CLIENT shall be governed by laws of India and all claims or disputes arising there from shall be subject to the exclusive jurisdiction of the courts of Mumbai. Definitions: Capitalised terms used herein but not defined above shall have the following meanings: “Business Day” means a day (other than a public holiday) on which banks are open for general business in Mumbai. “Credit Information Report” means the credit information / scores/ aggregates / variables / inferences or reports which shall be generated by Experian; “Credit Score” means the score which shall be mentioned on the Credit Information Report which shall be computed by Experian. “CICRA” shall mean the Credit Information Companies (Regulation) Act, 2005 read with the Credit Information Companies Rules, 2006 and the Credit Information Companies Regulations, 2006, and shall include any other rules and regulations prescribed thereunder. PLEASE READ THE ABOVEMENTIONED TERMS AND CONDITIONS AND CLICK ON “ACCEPT” FOLLOWED BY THE LINK BELOW TO COMPLETE THE AUTHORISATION PROCESS/ FOR SHARING OF YOUR CREDIT INFORMATION BY EXPERIAN WITH CLIENT IN ITS CAPACITY AS YOUR AUTHORISED REPRESENTATIVE. BY CLICKING “ACCEPT” YOU AGREE AND ACCEPT THE DISCLAIMERS AND TERMS AND CONDITIONS SET OUT HEREIN.
IMPORTANT INFORMATION
IN RELATION ACCESS TO CREDIT INFORMATION THROUGH TRANSUNION CIBIL LIMITED
To,
TransUnion CIBIL Limited [Formerly known as Credit Information Bureau (India) Limited]
19th Floor, One World Centre Tower-2A-2B,
841 Senapati Bapat Marg,
Lower Parel,
Mumbai – 400 013
Sub: Grant of Consent
In connection with submission of the application for my credit information offered by CIBIL (“Consumer Credit Information”) and other related credit products (Credit Products) offered by CIBIL through GC Web Ventures Private Limited (referred to as the “Company”) and delivery of the Consumer Credit Information and Credit Products to the Company, I hereby acknowledge and agree to the following:
A. The Company is my lawfully appointed agent and he / it has agreed to be my agent for the purposes, including, without limitation, to receive the Consumer Credit Information and Credit Products from TUCL on my behalf and use it and the Company has granted its consent for being appointed for the aforesaid purpose.
B. I grant my unconditional consent to the Company to receive the Consumer Credit Information and Credit Products from TUCL on my behalf and the Company has granted its consent for being appointed for the aforesaid purpose. I hereby represent and acknowledge that the Terms of Understanding in relation to the use of the Consumer Credit Information and Credit Products has been agreed between me and the Company.
C. I hereby expressly grant unconditional consent to, and direct, TUCL to deliver my Consumer Credit Information and Credit Products to the Company on my behalf.
D. I agree that my consent shall be stored by the Company on a permanent basis and shall be verifiable from time to time. I understand that the Company cannot access the Consumer Credit Information for more than 6 months on a single Consumer Consent and the same shall be required to be refreshed every six (6) months. Company can store the Consumer Credit Information only for (i) a limited time period of six months or (ii) till such time the credit information is required to be retained to satisfy the purpose for which it was provided or (iii) until I withdraw my consent to store such Consumer Credit Information, whichever is earlier and thereafter, the stored Consumer Credit Information shall be deleted, purged, expunged by the Company.
E. I shall not hold TUCL responsible or liable for any loss, claim, liability, or damage of any kind resulting from, arising out of, or in any way related to: (a) delivery of my Consumer Credit Information and Credit Products to the Company ; (b) any use, modification or disclosure by the Company of the contents, in whole or in part, of my Consumer Credit Information or Credit Products , whether authorized or not; (c) any breach of confidentiality or privacy in relation to delivery of my Consumer Credit Information to the Company.
F. I acknowledge and accept that TUCL has not made any promises or representations to me in order to induce me to provide my Consumer Credit Information or seek any consent or authorization in this regard.
G. I agree that I may be required to record my consent / provide consent electronically and in all such cases I understand that by clicking on the "I Accept" button below, I am providing "written consent " to [COMPANY] authorizing [COMPANY] to obtain my Consumer Credit Information from my personal credit profile from TransUnion CIBIL LIMITED]. I further authorize [COMPANY] to obtain such information solely to confirm my identity and display my Consumer Credit Information to me. Further in all such cases “By checking this box and clicking on the ‘Authorize button, I agree to the terms and conditions, acknowledge receipt of TUCL privacy policy and agree to its terms, and confirm my authorization for [COMPANY] to obtain my Consumer Credit Information and Credit Products.
H. I understand that in order to deliver the product to me, I hereby authorize [COMPANY], to obtain my Consumer Credit Information and Credit Products from TUCL.
I. By submitting this registration form, I understand that I am providing express written consent for [COMPANY] to request and receive information about me from third parties, including but not limited to a copy of my consumer credit report and score from consumer reporting agencies, at any time for so long as I have an active [COMPANY] account. I further authorize [COMPANY] to retain a copy of my information for use in accordance with [COMPANY’S] Terms of Use and Privacy Policy.
J. I UNDERSTAND THAT THE PRODUCT IS PROVIDED ON AN “AS-IS”, “AS AVAILABLE” BASIS AND TUCL EXPRESSLY DISCLAIMS ALL WARRANTIES, INCLUDING THE WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT.
K. I shall not sue or otherwise make or present any demand or claim, and I irrevocably, unconditionally and entirely release, waive and forever discharge TUCL , its officers, directors, employees, agents, licensees, affiliates, successors and assigns, jointly and individually (hereinafter “Releasee”), from any and all manner of liabilities, claims, demands, losses, claims, suits, costs and expenses (including court costs and reasonable attorney fees) (“Losses”), whatsoever, in law or equity, whether known or unknown, which I ever had, now have, or in the future may have against the Releasee with respect to the submission of my Consumer Credit Information or Credit Products and / or my decision to provide TUCL with the authority to deliver my Consumer Credit Information and Credit Products to the Company . I agree to defend, indemnify, and hold harmless the Releasee from and against any and all Losses resulting from claims made against TUCL L by third parties arising from and in connection with this letter.
L. I agree that the terms of this confirmation letter shall be governed by the laws of India and shall be subject to the exclusive jurisdiction of the courts located in Mumbai in regard to any dispute arising hereof. TUCL is entitled to assign its rights hereunder to any third person without taking my prior written consent.
M. For any issues related to your credit score/report (like wrong account information or loans/cards that you have not taken), kindly raise a dispute with CIBIL at https://www.cibil.com/dispute/
Business Age
Business Proof
Why Choose Kotak Mahindra Bank Personal Loan?
You can benefit from the attractive loan offers and several other products features at Kotak Mahindra Bank. Here are a few reasons for choosing Kotak Mahindra Bank for a personal loan.
- Affordable and flexible interest rates
- Fast loan approval
- Minimal Documentation Process & 100% Transparency
- Maximum Loan up to Rs. 25 lakhs
- Flexible Repayment options, ranging from 1 to 5 years
- Fast disbursal with money in your account within 2 days
- Earn reward points on taking a Personal Loan
Kotak Mahindra Bank Personal Loan Interest Rate
The rate of interest will range from 11.00% to 24%. It will depend on the customer’s credit score, credit history, the relationship with the bank, and finally the bank’s internal policies.
SALARIED INDIVIDUAL Loan Amount
Starting From Rs. 50,000 up to Rs. 30 lakhs
| Interest Rate | 11.00% to 24% |
| Processing Fee | Upto 2.50% of the loan amount |
| Loan Tenure | 1 to 5 years |
| Age | 23 years up to 58 years |
| Foreclosure Charges | 5% of the loan amount after one year |
Kotak Mahindra Bank Personal LoanFeatures
Multi-purpose loan
Be it a wedding, refinancing your home, paying your college fees or planning for a holiday, a personal loan from Kotak Mahindra Bank can fulfill all your requirements. Personal loans are therefore also known as multi-purpose loans as they can be used for numerous purposes.
Loan Amount
Kotak Mahindra Bank Personal loans are available for both, self-employed individuals and salaried working professionals. At Kotak Mahindra bank, the minimum personal loan amount is Rs. 50,000 and the maximum is Rs. 30 lacs.
Fixed Rate of interest
The rate of interest is fixed, and is charged on a monthly reducing basis. It is calculated on the overdue amount i.e., the amount to be repaid after the EMI and interest is paid.
Flexible tenure, EMI and Payment Options
Kotak Mahindra Bank offers personal loans at attractive interest rate with a loan tenure ranging between 12 months to 60 months. The loan can be repaid in easy installments and you can choose an EMI plan which best suits your current financial position.
Personal Loans Repayment Options:
Standing instructions for an auto-debit from your existing Kotak account
Via ECS (Electronic Clearing System)
PDC (Post-dated cheques)
Personal loans as an unsecured loan
You can avail an unsecured personal loan from Kotak Mahindra Bank without any guarantor or security. However, make sure that you have a good credit score, as a good score i.e, above 700 will help you to get a loan at an attractive interest rate and at good terms and conditions.
Easy Documentation
Taking a personal loan from Kotak Mahindra Bank involves simple and minimal paperwork. Moreover, applying for a loan online can help you get an instant loan approval.
Affordable Interest Rates
Kotak Mahindra Bank Personal Loan can be availed at an interest rate of 11.00% to 24% and can change at any time. However, the rate of interest can vary from customer to customer depending on his/her credit score and the internal policies of the bank.
Kotak Mahindra Bank Personal Loan Interest Rate
| Processing Fee | Kotak Mahindra Bank charges a processing fee Up to 2.50% of the loan amount |
| Foreclosure Charges | In case you want to repay your entire loan amount before the loan period ends, Kotak Mahindra Bank allows prepayment of personal loan with 5% of the loan amount after one year. |
Kotak Mahindra Bank Personal Loan Eligibility Criteria
For Salaried Employees :
Age Requirement : Minimum 23 years of age and maximum 58 years of age.
Minimum Net Salary : Rs. 18,000
1
Salaried doctors
2
Employees of Public and private limited companies
3
Public and private limited companies
4
Government sector employees including Public Sector Undertakings and central and local bodies
Kotak Mahindra Bank Personal Loan Documents Required
1
Complete online Loan Application
Fill it up online within two minutes
2
Identity Proof
Aadhar Card / Voter Id Card / Passport / Driving License
3
Salary Proof
Salary slip of the last 3 months with Form 16
4
Bank statement
Bank statement of last 3 months or bank passbook of 6 months
5
Address Proof
Aadhar Card / Voter Id Card / Passport / Driving License
6
Qualification or Registration Proof
Required for doctors, architects, CA, CS, ICWA, MBA consultant, engineers may vary from customer to customer
Why Apply for Kotak Mahindra Bank Personal Loans at IndiaLends?
Kotak Mahindra Bank has collaborated exclusively with IndiaLends, an online marketplace which offers low-interest personal loans best suited for your needs. If you are seeking a Personal Loan with Kotak Bank, you can simply fill up an online loan application form after checking your Kotak Bank Personal Loan Eligibility. Moreover, you can use an online Personal Loan EMI calculator available at our website to calculate your affordability.
1
Personalised Loan Offers
At IndiaLends, you can receive personalised loan offers and best deals at the best rate of interest. This is due to a tie-up with Kotak Bank, which helps you get the best deal on your personal loan as per your profile.
2
Instant Approval
You will get an instant approval on your personal loan after you fill in an easy online application form.
3
Cash within 2 days
Soon after the loan is approved, the funds are transferred right into the borrower’s bank account within two working days. Thus, we need no room for delay.
4
Real Time Tracking Facility
After submission of your loan application at IndiaLends, you can track your application online and moreover, will receive updates of your submitted application form using both email and SMS.
5
Dedicated Customer Support
IndiaLends has a dedicated customer support team and helpline which is always ready to help with any grievances or questions from loan applicants.
How to Apply for Kotak Mahindra Bank Loans at IndiaLends?
At IndiaLends, applying for a Kotak Personal Loan is a simple process.
1
Registration
Fill up an online loan application form
2
Quick Verification
We will review your application and give you a decision within minutes
3
Loan Disbursal
You will be receiving your cash within two days
We will forward your loan application to your nearest Kotak Bank branch. You can also check the status of your loan application through SMS alerts as well as emails.
How to calculate EMI for Kotak Bank Personal Loans?
Calculating EMI for your Kotak Bank personal loan is now easy with IndiaLends personal loan EMI calculator. By following few simple steps, you can check the EMI amounts for various amounts and tenures and decide the best plan that suits you.
Here’s how you need to use the EMI calculator:
Use the slider to adjust the values(Principal amount, loan tenure and rate of interest) to get your desired results. In case you need to add precise values, you can type the values in the relevant boxes provided next to the slider. As you change the values using the slider or hit the tab key after entering the value, the EMI is re-calculated according to the new values.
This way you can easily decide the EMI on your personal loan that can be managed easily and would not affect your monthly budget.
Kotak Bank Personal Loan Status
Are you wondering about the status of your Kotak bank personal loan? If yes, here are the two easy ways to track your application status:
You can visit the official website of Kotak Mahindra bank to monitor your application status by providing few details such as loan account number, name of the applicant and date of birth.
You can also use IndiaLends app to get insights on your loan application status. However, this is only possible if you’ve applied for the loan via IndiaLends.
Kotak Bank Personal Loan Balance Transfer
There’s always a way out to come out from a high-interest personal loan. In other words, it’s never too late for shifting to a better bank that is offering low-interest rate for your personal loan with the help of a balance transfer.
Kotak personal loan balance transfer offers the following benefits:
Additional top-up loan amount up to 75% of the original personal loan
No security / collateral required
Attractive interest rates
Simple documentation
Quick processing and disbursal
No security / collateral required
Simple repayments through monthly instalments
Kotak Personal Loan Top Up
Sometimes, you need an extra hand to fulfill your dreams. This is where Kotak personal loan top-up comes into play. It is easy, simple and quick.
The other benefits of Kotak personal loan top up are:
No security/collateral required
Easy and minimal documentation
Best-in-class interest rates
Quick disbursal and superfast disbursal
Easy repayments through monthly instalments
Kotak Personal Loan Preclosure
Kotak bank provides personal loan pre-closure facility at nominal charges. However, one can pre-close a Kotak personal loan only after payment of 12 EMI’s.
Thereafter, there is a 5% foreclosure charges + GST on the principal outstanding.
Some frequently asked questions(FAQs) regarding Kotak bank personal loan
Q. What is the minimum and maximum amount of personal loan that I can get with Kotak bank?
A. A Kotak personal loan starts from Rs 50,000 and can go upto Rs 30 lacs depending on the customer’s credit score, credit history, the relationship with the bank, and finally the bank’s internal policies.
Q.What is the maximum tenure for which I can avail a personal loan with kotak bank?
A. A Kotak personal loan can be anywhere from 12 to 48 months. Kotak bank gives an option to select the tenure that best suits you.
Q.Can I track my loan application?
You can monitor your loan application status by going to the official website of Kotak and entering the details such as your name as mentioned in the application, the loan account number and your date of birth. Alternatively, you can reach out to them at 1860-266-2666 or, 1860-266-0811 if you are an 811 customer.
Q. What is the average processing time for Kotak bank personal loan?
A. Generally, a Kotak bank takes 7-10 days to completely process the application subject to bank’s policy and eligibility criteria.
Q. What is the importance of CIBIL score in Kotak bank personal loan applications?
A.One of the factors taken into consideration when approving a personal loan is credit score. A good credit score can give you the power to get better loan offers at low-interest rates.
Featured in
