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Kotak Personal Loan Calculator

Kotak Bank Personal Loan EMI Calculator, May 2022

Last Updated 19th May 2022

  • Personal loan EMI in Kotak Bank depends upon loan amount, loan tenure, interest rate, monthly salary and company that you work for.
  • Kotak Bank Personal Loan EMI Calculator is an online tool to estimate monthly EMI and its division into principal and Interest during the entire loan tenure.
  • Lowest monthly EMI is ₹ 2,558 per lakh on Kotak Bank personal loan as calculated using the lowest interest rate of 10.45% for the longest tenure of 48 months.
  • For example, the table below gives the EMIs on Kotak Personal Loan at different loan amounts and loan tenure, if taken at the lowest rate.
Loan Amount1 Year Loan3 Year loan4 Year loan
₹ 1 Lakh₹ 8,813₹ 3,248₹ 2,558
₹ 5 Lakh₹ 44,063₹ 16,239₹ 12,790
₹ 10 Lakh₹ 88,125₹ 32,479₹ 25,579

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Personal Loan EMI Calculator Kotak

Kotak Bank Personal Loan EMI is a fixed amount of money paid by you to Kotak Bank based on your loan amount, tenure and interest rate. Every month, it is due on a fixed day of the month till the loan is fully paid back. You can calculate your Kotak Bank personal loan EMI in advance, to plan your loan payments and further expenses, using the Personal Loan EMI Calculator Kotak. The calculator functions on a mathematical algorithm and gives accurate results in no time.

Why should you use Kotak Bank Personal Loan EMI Calculator?

  • Calculate the EMI within your budget: Helps you compare the EMIs with a different loan amount and tenure. Always talk to the bank to know the interest rate you will be eligible for Kotak Bank personal loan which can range between 10.45% to 17.99%.
  • Compare Kotak Bank personal Loan EMI: Helps you compare the estimated EMI on a personal loan from Kotak Bank with that of leading banks in India using the same loan amount of upto ₹ 50 Lakh for a maximum tenure of 48 months, but at different interest rates.
  • Calculate interest on Kotak Bank personal loan: You can calculate the split of total EMIs into interest and principal repayment on your loan from Kotak over the loan tenure.
  • Detailed amortisation schedule: This allows you to see the pace at which your principal amount will be repaid during the loan tenure month on month. This is helpful if you decide to prepay your loan at Kotak or balance transfer to another bank.

Kotak Bank Personal Loan EMI Calculator to Estimate the EMI that Fits your Budget

Input different loan amounts and tenure at the eligible interest rate on Kotak Bank Personal Loan EMI calculator to calculate various EMIs at different rates and tenure. The table captures the calculation of Kotak Bank Personal Loan EMI Calculation at the various combinations of loan amount and years when taking at the lowest rate of 10.45%. So if you think that you can afford to pay an EMI of ₹ 10,000 in your budget, taking a ₹ 3 Lakh loan for 3 years or ₹ 5 Lakh loan for 5 years, maybe the right Kotak Bank personal loan plan for you.Personal Loan EMI is calculated for Kotak for different loan amounts and tenures at the rate of 10.45%.

Loan Amount (Rs.)2 Years3 Years4 Years
1 Lakh ₹ 4,635 ₹ 3,248 ₹ 2,558
3 Lakh ₹ 13,906 ₹ 9,744 ₹ 7,674
5 Lakh ₹ 23,176 ₹ 16,239 ₹ 12,790
10 Lakh ₹ 46,353 ₹ 32,479 ₹ 25,579

Factors Affecting Kotak Bank Personal Loan EMI

  • Loan amount – You will pay a higher EMI for the higher loan amount. Kotak Bank gives a minimum loan of ₹ 1 Lakh and a maximum loan amount of ₹ 50 Lakh.
  • Interest rate - Higher interest rate increases your loan EMI as well as the total cost of the loan. Kotak Bank personal loan interest rate for salary account holders can be lower than their quote rates, which can reduce the overall cost of loan and EMI. Lowest interest rate offered by Kotak Bank is 10.45%. However, it is advisable to do complete market research and compare rates online before you apply for a loan.
  • Loan tenure – This is the period over which you can repay your loan in Kotak Bank. So, your EMI will be lower if you take a 48months loan from Kotak Bank as compared to a loan taken for 12months. The logic being that if you get a longer period to repay, you can repay in a smaller instalment.

Comparison of Kotak Bank Personal Loan EMI with other Banks

Bank Name Interest Rate Loan Amount of ₹ 1 Lakh Loan Amount of ₹ 5 Lakh Loan Amount of ₹ 10 Lakh
Kotak Bank10.45% ₹ 8,813 ₹ 44,063 ₹ 88,125
IDFC First Bank 10.49% ₹ 8,814 ₹ 44,072 ₹ 88,144
IndusInd Bank 10.49% ₹ 8,814 ₹ 44,072 ₹ 88,144
Axis Bank 10.49% ₹ 8,814 ₹ 44,072 ₹ 88,144
Federal Bank 10.49% ₹ 8,814 ₹ 44,072 ₹ 88,144

Kotak Bank Personal Loan Amortization Calculator

Kotak Bank Personal Loan amortization schedule gives a break up of your monthly EMI into interest and principal repayment. Kotak Bank gives you a detailed amortisation schedule with the sanction letter and you can calculate the total interest outgo as well as the pace at which your loan amount will be repaid during the loan tenure.

How to read an amortization schedule

Suppose if you take a Personal Loan of ₹ 4.50 Lakh for 2 years from Kotak Bank at an interest rate of 10.45%. EMI calculated for this loan amount is ₹ 20,859 and the total annual EMIs to be paid annually is ₹ 2,50,306. The EMI schedule of loan for 2 years is explained below in the table –

Amortization Schedule for a Personal Loan of ₹ 4.50 Lakh over the 2 years

Year Interest paid during the year Principal repaid during the year Total amount paid during the year (Interest + Principal) Outstanding Principal
2022 ₹ 27,147 ₹ 1,39,724 ₹ 1,66,870 ₹ 3,10,276
2023 ₹ 21,679 ₹ 2,28,626 ₹ 2,50,306 ₹ 81,650
2024 ₹ 1,785 ₹ 81,650 ₹ 83,435 -₹ 0

In the above illustration, on a Kotak Bank Personal Loan of₹ 4.50 Lakh, taken at the lowest interest rate of 10.45, EMI paid is ₹ 20,859 and an annual total of EMIs is ₹ 2,50,306, the interest component is ₹ 37,000 while the principal component is ₹ 2,13,305 in year 1 of loan disbursement. You repay only 47.4% of the total principal after paying 12 EMIs during the first year.

Kotak Bank Personal Loan Interest Calculator Formula

Kotak Bank calculates personal loan EMI based on the following formula

P*r* (1+r)^n/([(1+r)^n]-1)

Here is an illustration of how Kotak Bank Personal Loan EMI is calculated:

In the above formula,

P = Loan amount.Kotak Bank personal loan amount can range from ₹ 1 Lakh to ₹ 50 Lakh.

r = Rate of interest per month. The current Kotak Bank Personal Loan rate is 10.45%.
n = Tenure in month. This can range up to 48months in case of Kotak Bank.

How to use Kotak Bank Personal Loan EMI Calculator

  • Kotak Bank personal loan calculator are online tool which give out EMI calculations using a combination of loan amount, interest rate and loan tenure.
  • Kotak Bank EMI calculator considers “reducing balance basis” and assumes that payment of EMI is made in arrears meaning interest is charged for the month preceding the EMI payment date and not in advance.

Kotak Bank Personal Loan EMI for ₹ 1 Lakh

The following table shows Kotak Bank Personal Loan EMI for ₹ 1,00,000 for different tenures at an interest rate of 10.45%

Loan AmountInterest RateTenure(Year)EMI
₹ 1,00,00010.45% 1₹ 8,813
₹ 1,00,00010.45% 2₹ 4,635
₹ 1,00,00010.45% 3₹ 3,248
₹ 1,00,00010.45% 4₹ 2,558
₹ 1,00,00010.45% 5₹ 2,147

Kotak Bank Personal Loan EMI for ₹ 3 Lakh

The following table shows Kotak Bank Personal Loan EMI for ₹ 3,00,000 for different tenures at an interest rate of 10.45%.

Loan AmountInterest RateTenure(Year)EMI
₹ 3,00,00010.45% 1₹ 26,438
₹ 3,00,00010.45% 2₹ 13,906
₹ 3,00,00010.45% 3₹ 9,744
₹ 3,00,00010.45% 4₹ 7,674
₹ 3,00,00010.45% 5₹ 6,441

Kotak Bank Personal Loan EMI for ₹ 5 Lakh

The following table shows Kotak Bank Personal Loan EMI for ₹ 5,00,000 for different tenures at an interest rate of 10.45%.

Loan AmountInterest RateTenure(Year)EMI
₹ 5,00,00010.45% 1₹ 44,063
₹ 5,00,00010.45% 2₹ 23,176
₹ 5,00,00010.45% 3₹ 16,239
₹ 5,00,00010.45% 4₹ 12,790
₹ 5,00,00010.45% 5₹ 10,735

Kotak Bank Personal Loan EMI for ₹ 10 Lakh

The following table shows Kotak Bank Personal Loan EMI for ₹ 10,00,000 for different tenures at an interest rate of 10.45%.

Loan AmountInterest RateTenure(Year)EMI
₹ 10,00,00010.45% 1₹ 88,125
₹ 10,00,00010.45% 2₹ 46,353
₹ 10,00,00010.45% 3₹ 32,479
₹ 10,00,00010.45% 4₹ 25,579
₹ 10,00,00010.45% 5₹ 21,469

How to Pay Kotak Bank Personal Loan EMI?

There are various online & offline methods to pay your Kotak Bank Personal Loan EMI. To repay your Kotak Bank EMI online, you can log in to your net banking account or else you can also use the mobile banking of Kotak Bank. Kotak Bank also allows you to pay EMI through ECI or standing instructions or a cheque facility by visiting the nearest Kotak Bank branch.


Why should I calculate Kotak loan EMI before taking a loan?

It is advised to calculate personal loan EMI in advance before taking a personal loan. There are several benefits of calculating your Kotak Bank personal loan EMI. For instance, if you want to avail Kotak Bank personal loan at the lowest rate of 10.45% and your monthly EMI, which comes out at ₹ 2,558 is more than your monthly budget. You have the chance to apply for a lower loan amount that fits your monthly budget and makes EMI easily affordable. In addition, if you already know the EMI you have to pay each month, you can plan your expenses accordingly. Finally, based on the EMI amount, you can opt to make a prepayment of your loan in the future when you have a surplus amount.

What is the lowest EMI per lakh offered by Kotak Bank on a personal loan?

Kotak Bank offers a personal loan at a 10.45% interest rate for a maximum of 48 months, and hence lowest EMI per lakh loan amount is ₹ 2,558. However, Kotak Bank may offer a lower interest rate to you if you hold your salary account with the bank or if you are an existing customer.

How can I pre-close Kotak Bank personal loan?

You can pre-close your Kotak Bank personal loan by visiting the branch with the required set of documents. Submit the form of preclosure, pay the amount and take the acknowledgement of the balance amount that you have paid.

What are the prepayment charges on Kotak Bank ?

Kotak Bank offers you an option of prepayment after 12 months at Starting from Rs.999.You have to pay these charges if you decide to pay the loan amount before the due date.

Is there any processing charge on a personal loan from Kotak Bank?

Yes, Kotak Bank charges a certain amount of processing fee to process your loan application. Currently, Kotak Bank charges a processing fee of Starting from Rs.999 on a Personal Loan.

Will I get a personal loan from Kotak Bank if I have a bad credit score?

No, for taking a loan from Kotak Bank, you must have a good credit score of 700 and above. Usually, most banks avoid giving loans if you have a low credit score.Also, availing a personal loan at low cibil score might fetch you a high Kotak Bank personal loan rate.

What is the EMI for a₹ 20 Lakh personal loan in Kotak Bank Bank?

At the current rate of 10.45%, EMI on Kotak Bank personal loan for loan amount ₹ 20 Lakh varies based on the loan tenure. For instance, for 2 year, 3 year and 6 years, EMI is ₹ 2,13,984, ₹ 2,25,786 and ₹ 2,63,125 respectively.

Can I have a co-applicant while applying for a Personal loan with Kotak Bank ?

Yes, you can opt for a co-applicant to take a personal loan from Kotak Bank that will increase your loan eligiblity as the income of the co-applicant is also taken into account.

Can we pay more than EMI in Kotak Bank personal loan?

If you have funds, then you can pay more than the regular EMI on your Kotak Bank Personal Loan. This will reduce your interest burden along with the outstanding principal. You can also pay one additional EMI every year to reduce loan tenure and in turn interest amount.

How can I pay my Kotak Bank loan EMI?

You can pay the Kotak Bank personal Loan EMI by using the ECS facility or standing instruction. You can also visit the branch and submit the EMI cheque or can opt for automated deductions from your salary account.

Compare Personal Loan EMI of All Banks

Kotak Bank Personal Loan Customer Care Number, Email, Application Status, Branches
City Customer Care Number
Agra 011-66006022
Ahmedabad 079-66006022
Ambala 080-66006022
Anand 079-66006022
Aurangabad Bihar 022-66006022
Bangalore 080-66006022
Bhilai 1800-102-6022
Bhilwara 1800-102-6022
Bhiwadi 022-66006022
Bhopal 011-66006022
Bhubaneswar Cuttack 1800-102-6022
Bikaner 1800-102-6022
Chandigarh 0161-65006022
Chennai 044-66006022
Cochin 0422 66006022
Coimbatore 0422-66006022
Dehradun 1800-102-6022
Delhi 011-66006022
Durg 1800-102-6022
Faridabad 080-66006022
Gandhinagar 079-66006022
Ghaziabad 011-66006022
Goa 022-66006022
Greater Noida 011-66006022
Gurgaon 011-66006022
Guwahati 1800-102-6022
Gwalior 011-66006022
Hyderabad 040-66006022
Indore 011-66006022
Jabalpur 011-66006022
Jaipur 0141-6536022
Jalandhar 0161-65006022
Jodhpur 1800-102-6022
Kanpur 011-66006022
Karnal 080-66006022
Kolhapur 022-66006022
Kolkata 033-65506022
Kota 1800-102-6022
Kozhikode 1800-102-6022
Lucknow 011-66006022
Ludhiana 0161-65006022
Madurai 044-66006022
Meerut 011-66006022
Mehsana 079-66006022
Mohali Sas Nagar 0161-65006022
Mumbai 022-66006022
Mussoorie 1800-102-6022
Nagpur 022-66006022
Nashik 022-66006022
Noida 011-66006022
Noida Extn 011-66006022
Panipat 080-66006022
Patna 033-65506022
Pondicherry 1800-102-6022
Pune 020-65216022
Raipur 1800-102-6022
Rajkot 0281-66006022
Ranchi 1800-102-6022
Rohtak 080-66006022
Roorkee 1800-102-6022
Salem 044-66006022
Shimla 1800-102-6022
Sonipat 080-66006022
Surat 0261-6600602
Trichy 044-66006022
Udaipur 1800-102-6022
Vadodara 0265-6646022
Varanasi 011-66006022
Vijaywada 040-66006022
Vizag 040-66006022

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Kotak Bank Personal Loan Reviews 4.5/5  by 116 customers
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Nanchara, Hyderabad
Reviewed on 29th Apr 2022
4 / 5 stars
Kotak Bank Personal Loan Availed in Apr 2022

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Prasanth, Coimbatore
Reviewed on 26th Apr 2022
4.5 / 5 stars
Kotak Bank Personal Loan Availed in Apr 2022

The service was very good. Really took good care of customer satisfaction. Read more...

Umasankararao, Bangalore
Reviewed on 08th Apr 2022
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Kotak Bank Personal Loan Availed in Apr 2022

Speedy process. One should go with MyLoanCare. Will refer to more.Read more...

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Reviewed on 01st Apr 2022
4 / 5 stars
Kotak Bank Personal Loan Availed in Mar 2022

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Fstpsm, Hyderabad
Reviewed on 30th Mar 2022
5 / 5 stars
Kotak Bank Personal Loan Availed in Mar 2022

The response and way of approach was good.

Pfosa, Delhi
Reviewed on 23rd Mar 2022
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Reviewed on 16th Mar 2022
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I got full support from the MyLoanCare team, especially from Mr Abhishek. He is a very nice and gentRead more...

Kishore, Hyderabad
Reviewed on 31st Jan 2022
5 / 5 stars
Kotak Bank Personal Loan Availed in Jan 2022

Good follow up and service. Promised interest rate and processing fee. Read more...

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Kotak Personal Loan News - May 2022
  • 2021-07-09 : Kotak Bank Q1 Net Profit seen up 25.6% YoY to Rs. 1,563.4 crores
    Motilal Oswal has come out with its first-quarter earnings estimates for the Banks and Insurance sector. The brokerage house expects Kotak Bank to report a net profit of Rs. 1,563.4 crore up 25.6% year-on-year on all products combined including Personal Loan, Home Loan, Loan Against Property, Business Loan, Gold Loan, and Car Loan. Net Interest Income (NII) is expected to increase by 7.7% Y-o-Y to Rs. 4,011.9 crores.
  • 2021-02-18 : Kotak Remit launched to send money abroad directly from phone
    Kotak Mahindra launched its outward forex remittance service, Kotak Remit. The service will allow its users to directly send money abroad from their phones. The feature is live on the Kotak Mobile Banking App.
  • 2021-01-27 : Kotak Mahindra Bank Q3 net profit up 16%
    Kotak Mahindra Bank posted a net profit of Rs 1,853.5 crore as against Rs 1,595.90 crore last year. The bank reported a growth of 16% on a year-on-year basis backed by home, personal, car, two wheeler and gold loan along with business and mudra loans.
  • 2020-10-16 : Kotak Mahindra Bank launches festive offers
    Kotak Bank introduced festive offers to lure customers. Individuals can avail special offers on other banking products including savings accounts, debit & credit cards and no-cost EMI payments. Festive offers include home loans starting at 7% p.a plus savings of up to Rs. 20 lakh on Balance Transfer cases. Further, the bank is offering 50% waiver on Processing Fee on Car Loans, Two-wheeler Loans, Agri-Business, Commercial Vehicle and Construction Equipment.
  • 2020-07-27 : Kotak Mahindra Bank Q1 net dips 8.5% to Rs. 1,244 cr
    Kotak Mahindra Bank reported a fall of 8.5% in its standalone net profit at Rs.1,244 crores for the quarter ending 30 June 2020. It was Rs. 1,360 crores in the year-ago period. The net interest income backed by retail loans home, personal, gold, car loans and two-wheeler loans along with business and mudra loans increased by 17.81% to Rs. 3,723.85 crore.
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