Kotak Mahindra Bank Personal Loan

Highlights

  • Avail Kotak Mahindra Bank personal loan at the lowest rate of 10.99%
  • With attractive interest rates, get the affordable EMIs to enjoy a hassle-free loan journey

Personal Loan

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    Kotak Mahindra Bank Personal Loan Interest Rates

    Kotak Mahindra Bank personal loan can easily be availed at an interest rate of 10.99% – 20.99% per annum. You can get a loan from the bank by paying this interest rate, hence can fulfill your dreams. The process to avail the loan is very easy and simple, you can either apply online or visit the branch for the same.

    ParticularsDetails
    Interest Rates 10.99% - 20.99%
    Loan Amount ₹50,000 - 20 Lakhs
    Repayment5 Years
    Processing Fee 0.99%-2.50% of the loan amount + GST

    Kotak Mahindra Bank Personal Loan EMI Calculator

    When it comes to Equated Monthly Installment (EMI), it is the sum of the interest as well as principal which is payable every month for a personal loan. So, now you must be thinking how Kotak Mahindra Bank will going to calculate your personal loan EMI. Well, as far as EMI is concerned, it gets calculated in a very hassle-free manner. Moreover, the EMI Calculator of Kotak Mahindra Bank actually takes into account the loan amount, rate of interest as well as the tenure of the loan, when it comes to calculating your monthly installments for the loan.

    Furthermore, the first and foremost thing that calculator does is to compute the interest component and then the principal amount that you will have to pay for your personal loan.

    Try to understand this thing, with an example listed below:
    Example: If you want to avail a loan of ₹3,00,000 from Kotak Mahindra Bank for 5 years, you will be charged with an interest of 12%p.a. What would be the EMI, total interest outgo and last but not the least the total payable from your pocket at the end of your loan tenure? Know the same with the help of the table below.

    Well, for your better understanding, there is a table listed below with the help of which it becomes easy for you to know your EMI, interest and total amount payable with different tenures on the same loan amount.

    Table Showing EMI, Interest Outgo, and Total Repayment Amount

    Loan AmountInterest RateTenureMonthly InstalmentTotal Interest AmountTotal Amount
    ₹ 3,00,00012%1₹ 26,655₹ 19,856₹ 3,19,856
    ₹ 3,00,00012%2₹ 14,122₹ 38,929₹ 3,38,929
    ₹ 3,00,00012%3₹ 9964₹ 58,715₹ 3,58,715
    ₹ 3,00,00012%4₹ 7900₹ 79,207₹ 3,79,207
    ₹ 3,00,00012%5₹ 6673₹ 1,00,400₹ 4,00,400

    EMI, Total Interest Outgo, Total Repayment (Interest + Principal)

    YearPrincipalInterestBalance Amount
    1₹ 46,587₹ 33,493₹ 2,53,412
    2₹ 52,495₹ 27,585₹ 2,00,917
    3₹ 59,153₹ 20,927₹ 1,41,764
    4₹ 66,655₹ 13,425₹ 75,108
    5₹ 75,174₹ 4971₹ 0

    Kotak Mahindra Bank Personal Loan Eligibility Criteria

    To avail the personal loan in Kotak Mahindra Bank, you need to fit into the eligibility criteria. Yes, before offering you a personal loan, the bank will consider your eligibility first. And, if your profile matches with their criteria, there is no one stopping you from availing the loan. To know your eligibility, the bank will consider your age, income, total work experience, qualification and so on. So, if you are a salaried person, who is in an urgent need of cash, check your personal loan eligibility below.

    ParticularsDetails
    Age of applicant 21 years-58 years
    Years in city Minimum 1 year
    Total work experience Minimum 2 years
    Minimum Net monthly income ₹18,000
    Residence telephone Required
    Minimum educational qualification Graduate

    Now let us understand the loan amount eligibility with the help of an example listed below.

    If you are working in a multinational company, and getting a salary of ₹90,000 per month, so after cutting all your monthly expenses, you would be saving around 40%-50% of your income every month. Suppose, if you are able to save around 50% of your monthly income, you must be wondering about your personal loan eligibility.

    Well, the bank will assume that you will save around ₹45,000 per month out of your monthly income of ₹90,000. Thus, you can effectively use your savings to repay your personal loan EMI. If you know the loan amount, tenure and rate of interest, it would be easy for you to calculate your EMIs that you will have to pay every month, when it comes to repaying your loan amount that you are eligible for.

    Amount- ₹2 Lakh
    Loan Tenure-5 years
    Rate of Interest-11.5%-24%
    Your monthly EMI will be ₹4,399-5,754

    So your calculation for a personal loan would be

    ₹2 lakh x 45000/4399=₹20.45 lakhs and 2 lakh x 45,000/5754=₹15.64 lakhs
    So, your personal loan amount eligibility will range between ₹15.64 lakhs- 20.45 lakhs.

    Documents Required

    Next, thing on which you need to pay attention is the documentation required to get the personal loan in this bank.

    SalariedSelf-employed
    Signed application form with recent passport size photographs Signed application form with recent passport size photographs
    Age Proof-Passport Copy/PAN Card/ Voter ID card, Photo Driving License with birth date (laminated, recent, legible)/Photo ration card with DOB/Employer certificate/ID/School/College Leaving Certificate Age Proof-Passport Copy/PAN Card/ Voter ID card, Photo Driving License with birth date (laminated, recent, legible)/Photo ration card with DOB/Employer certificate/ID/School/College Leaving Certificate
    Identity Proof-Passport/PAN Card/Voter ID Card/Driving License/Overseas Citizen of India card Identity Proof-Passport/PAN Card/Voter ID Card/Driving License/Overseas Citizen of India card
    AddressProof-RationCard/Driving License/VoterID Card/Passport/Telephone Bill/Electricity Bill/Overseas Citizen of India Card/Latest IT Return/Original Letter from Company AddressProof- RationCard/Driving License/VoterIDCard/Passport/TelephoneBill/ ElectricityBill/ Overseas Citizen of India Card/Latest IT Return/Original Letter from Company
    Income Proof-Salary slip of last 3-6 months, ITR or Form 16, 6 month bank statement Income Proof-IT returns for the last 2 years along with audited balance sheet, P&L account statement for 2 years
    Signature Verification Proof-Driving License/Passport copy/PAN Card/Banker’s attestation of Bank Account Statement Signature Verification Proof-Driving License/Passport copy/PAN Card/ Banker’s attestation of Bank Account Statement
    Ownership Proof: Electricity Bill/ Water Bill/ Sales Deed/ Receipt of Tax paid Ownership Proof: Electricity Bill/ Water Bill/ Sales Deed/ Receipt of Tax paid

    Factors Affecting Personal Loan Eligibility

    First and foremost thing that comes is the personal loan eligibility, which is based on factors such as

    • Monthly Income
    • Age
    • Monthly Expenses
    • Any Other Loan
    • Credit History
    • Job Stability
    • Relationship with the Bank
    • Category of Your Employer

    Features and Benefits

    • Attractive interest rates
    • Flexible repayment options
    • Bank Doorstep Service
    • Gain quick approval on loans
    • Minimal paperwork and hassle-free processing
    • No security or collateral required

    Kotak Mahindra Bank Personal Loan Application Form

    You can either visit the branch or ATM of Kotak Mahindra Bank or go online in order to submit your personal loan application. But, make sure as the application form needs to be duly filled as well as submitted so as to process the loan application further. Moreover, subsequent to the submission of your loan application, the bank will also scrutinize the details of your income, official as well as residential addresses, etc. And, the best part is that the loan can be disbursed to you within a week or so, depending upon your profile.

    Kotak Mahindra Bank Personal Loan Application Status

    You can easily check the status of your personal loan application by visiting the branch near you. Yes, you just need to visit any Kotak Mahindra Bank branch, give your details, and the executives will tell you the status of your loan application. Through this way, it becomes easy for you to keep an eye on your loan application status, and you can know the loopholes.

    Kotak Mahindra Bank Personal Loan Statement

    If you don’t know how much EMIs are still pending of your existing personal loan, don’t need to worry as all you need to know about a personal loan statement. That’s Right! Kotak Mahindra Bank ensures that you never miss your monthly installments or you can easily know all the details related to your personal loan in the most hassle-free manner. The bank will send a monthly statement on your registered email ID and by looking at it, you can have an easy access to all the activities on the go.

    Kotak Mahindra Bank Customer Care Contact Number

    Kotak Mahindra Bank with its best and experienced customer care executives is always there to solve all your queries related to the personal loan. You can anytime call or get in touch with these executives in order to solve any of your queries. You can reach them 24×7 on this toll-free number: 1860 266 2666.

     Kotak Mahindra Bank Personal Loan Online Apply

    Well, one of the best services offered by Kotak Mahindra Bank to all its customers is the fact that they can easily apply online to avail the personal loan. Yes, you just need to open the site, and visit the personal loan page, wherein you can instantly apply for personal loan online. Within a few seconds, the bank will receive your personal loan application, and allow you to apply for a personal loan from the comfort of your home.

    Branch Addresses of Kotak Mahindra Bank at Select Locations

    New Delhi

    BankBranch Code Address
    Kotak Mahindra Bank IFSC Code: KKBK0000172
    MICR Code: 110485003
    Branch Code: 000172
    NEW DELHI – CONNAUGHT PLACE GROUND FLOOR, AMBADEEP, 14, KASTURBA GANDHI ROAD, NEW DELHI – 1
    Contact:
    (011) 51790000
    IFSC Code: KKBK0000173
    MICR Code: 110485005
    Branch Code: 000173
    NEW DELHI – GREATER KAILASH II
    M – 43 A, M BLOCK MARKET, GREATER KAILASH – II, NEW DELHI – 110 048
    Contact:
    (011) 42194900
    IFSC Code: KKBK0000174
    MICR Code: 110485007
    Branch Code: 000174
    NEW DEHI – PUNJABI BAGH
    4 SECTOR IV MARKET, NORTH – WEST AVENUE RD., CLUB ROAD, PUNJABI BAGH,
    Contact:
    (011) 42256200
    IFSC Code: KKBK0000175
    MICR Code: 110485006
    Branch Code: 000175
    NEW DELHI – SAFDARJUNG ENCLAVEA – 1/24, SAFDARJUNG ENCLAVE, NEW DELHI – 110 029
    Contact:
    (011) 41654491
    IFSC Code: KKBK0000176
    MICR Code: 110485009
    Branch Code: 000176
    NEW DELHI – NEW FRIENDS COLONYNEW FRIEND'S COLONY D – 960, NEW FRIEND'S COLONY, NEW DELHI 110065
    Contact:
    (011) 41626666
    IFSC Code: KKBK0000177
    MICR Code: 110485008
    Branch Code: 000177
    NEW DELHI – PALAMKHASRA, NO 65, HARPHOOL SINGH MARKET, MAIN DWARKA JANAKPURI ROAD, PALAM, NEW DEL PIN CODE 110 045
    Contact:
    (011) 45521060-65
    IFSC Code: KKBK0000179
    MICR Code: 110485010
    Branch Code: 000179
    NEW DELHI – OLD RAJINDER NAGAR79, OLD RAJINDER NAGAR MARKET, NEW DELHI – 110060
    Contact:
    (011) 42430860
    IFSC Code: KKBK0000182
    MICR Code: 110485013
    Branch Code: 000182
    NEW DELHI – VASANT VIHARD – 10, NO. 1 & 2, LSC, VASANT VIHAR, NEW DELHI
    Contact:
    9910892030-34
    IFSC Code: KKBK0000183
    MICR Code: 110485011
    Branch Code: 000183
    NEW DELHI – PREET VIHAR7 BHARATI ARTIST COLONY, VIKAS MARG, PREET VIHAR NEW DELHI 110 072
    Contact:
    9910892042-45
    IFSC Code: KKBK0000184
    MICR Code: 110485015
    Branch Code: 00018
    NEW DELHI – GULMOHAR PARK21, COMUINITY CENTRE, YUSUF SARIA , GULMOHAR, NEW DELHI 110 049
    Contact:
    (011) 46066730
    IFSC Code: KKBK0000185
    MICR Code: 110485012
    Branch Code: 00018
    NEW DELHI – MODEL TOWNB – 1, GUJRANWALA TOWN PART – 1, MODEL TOWN NEW DELHI – 110 009
    Contact:
    (011) 47013200
    IFSC Code: KKBK0000186
    MICR Code: 110485017
    Branch Code: 00018
    NEW DELHI – CHANDANI CHOWK739, 1ST FLOOR, KATRA HARDAYAL, CHANDNI CHOWK DELHI – 110 006
    Contact:
    (011) 23240390
    IFSC Code: KKBK0000187
    MICR Code: 110485016
    Branch Code: 000187
    NEW DELHI – SAKET 26, COMMUNITY CENTER, PVR COMPLEX, MALVIYA NAGAR EXTENTION SAKET NEW DELHI 110 017
    Contact:
    (011) 40592000
    IFSC Code: KKBK0000190
    MICR Code: 110485035
    Branch Code: 000190
    DELHI – KAMLANAGARKOTAK MAHINDRA BANK LTD. 19 C UA , JAWAHAR NAGAR, BUNGLOW ROAD , KAMLA NAGAR, NEW DELHI – 110007 .
    Contact:
    (011) 47088308
    IFSC Code: KKBK0000191
    MICR Code: 110485019
    Branch Code: 000191
    NEW DELHI – KAROL BAGHKOTAK MAHINDRA BANK LTD. 16/10 GROUND FLOOR ARYA SAMAJ ROAD KAROL BAGH NEW DELHI
    Contact:
    (011) 45064626

    Mumbai

    BankBranch Code Address
    Kotak Mahindra Bank IFSC Code: KKBK0000648
    MICR Code: 400485047
    Branch Code: 000648
    KOTAK MAHINDRA BANK LTD, SHOP NO: 2, 3 & 3A, KISMET BUILDING, 81, NATHALAL PARIKH MARG (WODEHOUSE ROAD), NR. SASSOON DOCK, COLABA, MUMBAI. MAHARASHTRA – 400 005
    Contact:
    (022) 22164005/6
    IFSC Code: KKBK0000631
    MICR Code: 400485010
    Branch Code: 000631
    (CD#)GROUND FLOOR, 159, VINAY BHAVYA COMPLEX (SAMSUNG BUILDING), KALINA, MUMBAI – 400 098.
    IFSC Code: KKBK0000635
    MICR Code: 400485043
    Branch Code: 000635
    KOTAK MAHINDRA BANK LTD.KUM KUM CHS, JAIN SOCIETY, OFF EASTERN EXPRESS HIGHWAY, BEHIND DOMINOS, SION (W) – 400022
    Contact:
    (022) 24081051
    IFSC Code: KKBK0000637
    MICR Code: 400485008
    Branch Code: 000637
    GROUND FLOOR, BURHANI MAHAL, 59, NEPEANSEA ROAD, OPP. PRIYADARSHINI PARK, MUMBAI – 400 006.
    IFSC Code: KKBK0000638
    MICR Code: 400485011
    Branch Code: 000638
    GROUND FLOOR, PENINSULA TOWERS 1, PENINSULA CORPORATE PARK, OFF. SENAPATI BAPAT MARG, LOWER PAREL
    IFSC Code: KKBK0000642
    MICR Code: 400485006
    Branch Code: 000642
    MARATHON MAX, OPP RTO, JUNCTION OF LBS MARG AND MULUND – GOREGAON LINK ROAD, MULUND (WEST)
    IFSC Code: KKBK0000651
    MICR Code: 400485003
    Branch Code: 000651
    GROUND FLOOR, CENTRE POINT, ANDHERI KURLA RD, J B NAGAR, MUMBAI – 400 059
    IFSC Code: KKBK0000652
    MICR Code: 400485004
    Branch Code: 000652
    SAINARA BUILDING, LINKING ROAD, SANTACRUZ (WEST), MUMBAI – 400 054
    IFSC Code: KKBK0000653
    MICR Code: 400485005
    Branch Code: 000653
    GROUND FLOOR, NEEL REKHA BLDG., L T ROAD, BORIVALI (WEST)
    IFSC Code: KKBK0000654
    MICR Code: 400485007
    Branch Code: 000654
    GROUND AND FIRST FLOOR, MAKER MAHAL, TURNER ROAD, BANDRA (WEST), MUMBAI
    IFSC Code: KKBK0000658
    MICR Code: 400485018
    Branch Code: 000658
    KOTAK MAHINDRA BANK LTD , 31, M G ROAD, BEDESHWAR BUILDING, NXT TO TRIBHUWANDAS BHIMJI ZAVERI SHOWROOM, GHATKOPAR (EAST), MUMBAI – 400077, MAHARASHTRA , INDIA
    IFSC Code: KKBK0000661
    MICR Code: 400485022
    Branch Code: 000661
    KOTAK MAHINDRA BANK LTD. MAITRI, PLOT NO. 10, ROAD NO. 10, JVPD SCHEME, JUHU, VILE PARLE (WEST), MUMBAI, MAHARASHTRA – 400 049.
    IFSC Code: KKBK0000662
    MICR Code: 400485020
    Branch Code: 000662 Branch: MUMBAI – MALAD
    KOTAK MAHINDRA BANK LTD GROUND FLOOR, PALM COURT – M, NEAR D – MART, NEW LINK ROAD, MALAD (W), MUMBAI, MAHARASHTRA – 400 064
    IFSC Code: KKBK0000663
    MICR Code: 400485024
    Branch Code: 000663
    KOTAK MAHINDRA BANK LTD. G 6/7 CITI PARK, CENTRAL AVENUE ROAD, HIRANANDANI GARDENS POWAI, MUMBAI, MAHARASHTRA – 400 076.
    IFSC Code: KKBK0000664MICR Code: 400485031
    Branch Code: 00066
    KOTAK MAHINDRA BANK LTD. MORESHWAR BUILDING, HANUMAN ROAD, VILE PARLE (EAST), MUMBAI, MAHARASHTRA – 400 057

    About Kotak Mahindra Bank Personal Loan

    Since the inception of the erstwhile Kotak Mahindra Finance Limited in 1985, there is no doubt on the fact that Kotak Mahindra is one of the biggest players in the financial market. Yes, by offering a wide range of services to all the esteemed customers in various sectors like banking, mutual fund, life insurance, stock broking and many more, Kotak Mahindra bank leaves no stone unturned in order to fulfill the varied needs of all. In fact, the bank has also come up with a special scheme of 0% processing fee for the month of August.

    When it comes to fulfilling the varied needs, this bank is here with its best of personal loans. Yes, with having 1,214 branches and 1,794 ATMs widespread across the country, this bank is ensuring to serve all the customers by fulfilling their personal needs. No matter what your personal financial needs are, Kotak Mahindra bank is always here for you.

     

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    EMI Calculator