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# Kotak Personal Loan EMI Calculator - May 2017

Last Updated 25th May 2017

## Kotak Bank Personal Loan Calculator

Lowest EMI on Kotak Bank Personal Loan - Rs. 2,199 per lakh

Loan Tenure
Loan Amount (Rs.) 2 Years 3 Years 5 Years
100,000 Rs. 4,684 Rs. 3,298 Rs. 2,199
300,000 Rs. 14,052 Rs. 9,893 Rs. 6,598
500,000 Rs. 23,420 Rs. 16,488 Rs. 10,996
1,000,000 Rs. 46,840 Rs. 32,976 Rs. 21,993
Personal Loan EMI Calculator
Rs.

### Factors affecting Kotak Personal Loan EMI

• Borrower age should be between 21 years to maximum 58 years.
• Maximum personal loan amount offered by Kotak Bank is upto Rs. 1,500,000.
• Interest rates range from 11.50% to 24.00% depending upon customer profile, loan amount and other factors.
• Processing fee in Kotak Bank may be Upto 2.5% of loan amount.

### Kotak Personal Loan EMI

• Personal Loan EMI (or equated monthly installment) is a fixed amount of money paid by you to Kotak Bank against the loan taken. This is towards repayment of your loan to the bank. Every month, it is due on a fixed day of the month till your loan is fully paid back.
• With Kotak Bank offering Personal Loans with loan tenure upto 5 years, the loan EMI can be as low as Rs. 2,199 per lakh, to make it more affordable and convenient to meet your personal needs. Rate of interest offered by Kotak Bank are as low as 11.50%.
• This EMI consists of both interest payment and principal repayment. Though the EMI amount will remain constant, the principal component keeps increasing and on the other hand the interest component keeps reducing.

### Kotak Bank Personal Loan calculator formula

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

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

In above formula,

P = Loan amount. This can range from Rs. 100,000 to Rs. 1,500,000

r = Rate of interest per month. Current rate is 11.50%

n = tenure in month. For Kotak Bank, this can be 60 months

### Personal loan EMI calculator Kotak - How it works?

• Kotak Bank personal loan calculator calculates EMI considering a combination of loan amount, interest rate and loan tenure.
• Kotak Bank personal loan calculator considers “reducing balance basis” and assumes that payment of EMI is made in arrears (means interest is charged for the month preceding the EMI payment date) and not in advance.

### Personal Loan EMI - EMI Changes in case of prepayment

In case you prepay your personal loan, the outstanding balance on your personal loan reduces. Kotak gives you two options:
• Reduce the amount of EMI and keep your loan tenure same
• It is better to keep the EMI constant and reduce the loan tenure as you pay less interest to the Kotak in this option.

#### Frequently Asked Questions on Kotak EMI Calculator

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

Kotak Bank offers personal loan at 11.50% interest rate and hence lowest EMI on per lakh loan amount is Rs. 2,199.

Can I prepay my Kotak Bank personal loan?

Kotak Bank offers you an option of prepayment after 12 months at 5% prepayment charges, 30 days notice applicable.

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

Personal Loan from Kotak Bank charges a processing fee of Upto 2.5%.

#### Kotak Bank Personal Loan EMI Calculator Customer Care Number, Email, Application Status, Branches

City Customer Care Number
Agra 011-66006022
Ambala 080-66006022
Anand 079-66006022
Bangalore 080-66006022
Bhilai 1800-102-6022
Bhilwara 1800-102-6022
Bhopal 011-66006022
Bhubaneswar Cuttack 1800-102-6022
Bikaner 1800-102-6022
Chandigarh 0161-65006022
Chennai 044-66006022
Cochin 0422 66006022
Coimbatore 0422-66006022
Delhi 011-66006022
Durg 1800-102-6022
Gandhinagar 079-66006022
Goa 022-66006022
Greater Noida 011-66006022
Gurgaon 011-66006022
Guwahati 1800-102-6022
Gwalior 011-66006022
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
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
Sonepat 080-66006022
Surat 0261-6600602
Trichy 044-66006022
Udaipur 1800-102-6022