Kotak Business Loan Jan 2022

Kotak Bank offers multiple business loan products for self-employed professionals and non-professionals at low rates. Below-mentioned are the details of the business loan Kotak Bank.

Key Features of Kotak Business Loans

• Purpose of Loan: You can avail Kotak business loan to expand or modernise your business, purchase assets, set up new units etc.
• Loan available for self employed professionals and non-professionals.
• Borrowers within the age group of 25 and 65 years can avail Kotak business loan.
• Security: Both Secured & Unsecured
• Loan Tenure can range from 24 to 60 years.
• Kotak business loan interest rates are in the range of 16.00% to 19.99%.
• Kotak Bank business loan EMI per lakh starts from ₹ 2,432.
• Processing Fee: Maximum 2% of the loan
• Special schemes: Some of the special business loan offers of Kotak are:
• Loan for Business Expansion
• K Value
• Facility Against Credit Card Receivables

There are multiple factors on which Kotak Bank calculates your interest rate. Some of these factors are -

Currently, the lowest business loan rate offered by Kotak Bank starts at 16.00%. There has been no change in the lowest interest rate of Kotak Bank business loan interest rate for a long time and the interest rate continues to be in the range of 16.00% to 19.99%.

Last Updated Date	Interest Rates
31 Mar, 2021	16.00%
25 Mar, 2021	16.00%
12 Feb, 2021	16.00%

To avail Kotak Bank business loan, you need to fulfill the eligibility criteria as mentioned below:

• Age : Kotak Bank offers business loan to those who are at least 25 years old at the time of loan approval and maximum 65 years at the time of loan maturity.
• Loan Amount : Based on the loan amount eligibility, Kotak Bank gives you loan amount ranging from ₹ 3 Lakh to ₹ 75 Lakh. To improve chances of approval, apply for a loan amount that you can comfortably service.
• Profitability and Revenue : Kotak Bank requires profit for minimum 2 years and minimum business turnover of ₹ 0.
• Business Stability : Kotak Bank requires a minimum business track record of 0 months. The bank will also look for minimum growth in sales for the last three year. A decline in sales for a certain period or below a certain limit might impact your eligibility to get a loan.
• ITR and Banking : Kotak Bank gives loan only after checking your income tax return and bank statements. The bank requires you to submit your ITR details and bank statements for a minimum of 0 months & 0 months respectively.
• CIBIL Score : Kotak Bank will check your repayment history for all current and past loans and credit cards. The Bank advises you to maintain a score of 750 and above to get loan approval.

Kotak Bank offers customized products for specific customer segments designed to meet their loan requirements. Some of the popular products with their basic features are as follows:

• Kotak Bank provides loan for business expansion, to established businesses and budding businessmen to fund the business capitals. The loan amount can range from Rs 3 lakhs to Rs 75 lakhs and can be borrowed without any collateral.

• Get unsecured overdraft up to ₹ 50 lakhs
• Pay only interest on the utilised amount
• Easy access of funds for the growth of business

• Offers customer the option to pay only interest during the moratorium period, and thereafter, pay moderated EMIs.
• The EMIs will be stepped up during the subsequent years.
• Option of selecting moratorium of upto 36 to 60 months. Only interest to be repaid during the selected moratorium period.
• Eligibility is higher for self employed
• Get business loan up to ₹ 3 crore
• Option of combining overdraft and loan

In addition to interest rates, business loan also carry some other charges which include:

• Foreclosure Charges : These charges are to be paid in case you want to repay your entire loan amount before the end of tenure period. Kotak Bank allows prepayment of loan after paying 0 EMI’s with prepayment charges - 5% charges
• Processing Fee : Kotak Bank asks for a processing fee of Maximum 2% of the loan with applicable service tax

To apply for Kotak business loan, you need to submit the following documents:

• Address proof of individual: Aadhaar Card, Voter’s ID Card, Bank statement, registry copy, rent agreement , utility bills
• Identity proof of individual: Passport, Driving License, PAN Card, Aadhaar Card, Voter’s ID Card
• Business existence proof: PAN, sales tax/ excise/ VAT/ service tax registration, copy of partnership deed, trade license, certificate of practice, registration certificate issued by RBI, SEBI
• Copy of Income Tax PAN for 24 months
• Bank statement of last 6 months

You can calculate your eligibility for Kotak Bank business loan using an online Kotak business loan eligibility calculator. It is an online tool that gives you an estimate about your loan eligibility, amount of loan and the best interest rate offer you can avail. It calculates the business loan eligibility on multiple factors. These factors include age, loan amount, loan tenure and Income etc. to calculate the loan amount eligibility of its borrowers.

• In order to get the best offers on a business loan and compare Kotak business loans with other banks, you can apply online through MyLoanCare here.  
• MyLoanCare will give you a detailed comparison of business loan schemes of all banks, calculate your business loan eligibility and connect you to the customer representatives of the  Kotak Bank.
• Further, you will also be assisted by a dedicated MyLoanCare loan executive who will ensure that the process of getting a loan is smooth, convenient and quick.

✅Why to take business loan from Kotak Bank?

Kotak Bank is one of the largest Private Bank sector banks in the country that provides lowest business loans starting at 16.00%. The bank also charges a low processing fee starting from Maximum 2% of the loan. Along with that, the bank also offers special business loan schemes such as Loan for Business Expansion , K Value & Facility Against Credit Card Receivables etc.

✅Has Kotak Bank reduced the business loan interest rate?

Currently, the lowest business loan rate offered by Kotak Bank starts at 16.00%. There has been no change in the lowest interest rate of Kotak Bank business loan interest rate for a long time and the interest rate continues to be in the range of 16.00% to 19.99%.

✅What is the interest charged on Kotak Bank business loan?

Kotak Bank offers business loans at attractive rates ranging from 16.00% to 19.99%.The bank also provides various customised offers for self employed professionals to get loan at a very low rate of interest.

✅What is the lowest EMI per lakh on business loan from Kotak Bank?

If you apply for loan from Kotak Bank, your lowest EMI per lakh will be ₹ 2,432.You can calculate your EMI on business loan for different tenures at min business rate starting at 16.00% using MyLoanCare business loan EMI calculator.

✅What is the minimum and maximum tenure of business loan in Kotak Bank?

These loans are shorter tenure loans. You can repay your loan in a flexible period of minimum 24 months to maximum 60 months.

✅How much business loan amount I can borrow from Kotak Bank?

Kotak Bank offers you business loan for loan amount ranging from ₹ 3 Lakh to a maximum amount of ₹ 75 Lakh. Loan amount eligibility in Kotak further depends upon your income, and repayment capability.

✅What is the processing fee charged by Kotak Bank on business loan?

Kotak Bank charges a processing fee Maximum 2% of the loan with applicable tax.The processing can be negotiated if you are an existing customer or have a good track record.

✅Is age an eligibility factor to get loan for business from Kotak Bank?

Yes, age is an important eligibility factor to get a business loan as you should be at least 25 years old at loan approval time and 65 years old at loan maturity time.

✅What are the prepayment charges on business loan from Kotak Bank?

Bank charges a prepayment fee in case you want to repay your entire loan amount before the end of tenure period. The fee charged by Kotak Bank is 5% charges.

✅What are the business products offered by Kotak Bank?

Kotak Bank offers various business products for self-employed professionals and non-professionals. These are listed below:

• Loan for Business Expansion
• K Value
• Facility Against Credit Card Receivables

✅What is the time period of repayment of business loans in Kotak Bank?

Kotak Bank provides business loans for a maximum tenure of 60 years. You must repay your loan at the end of this loan tenure to avoid any late payment penalty.

City	Customer Care Number
Agra	011-66006022
Ahmedabad	079-66006022
Ambala	080-66006022
Anand	079-66006022
Aurangabad Bihar	022-66006022
Bangalore	080-66006022
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Bhilwara	1800-102-6022
Bhiwadi	022-66006022
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Bikaner	1800-102-6022
Chandigarh	0161-65006022
Chennai	044-66006022
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Delhi	011-66006022
Durg	1800-102-6022
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Gwalior	011-66006022
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Jaipur	0141-6536022
Jalandhar	0161-65006022
Jodhpur	1800-102-6022
Kanpur	011-66006022
Karnal	080-66006022
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Kolkata	033-65506022
Kota	1800-102-6022
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Lucknow	011-66006022
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Sonipat	080-66006022
Surat	0261-6600602
Trichy	044-66006022
Udaipur	1800-102-6022
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Varanasi	011-66006022
Vijaywada	040-66006022
Vizag	040-66006022