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Compare Personal Loan - Muthoot vs Kotak Bank

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Interest Rate
Interest Rate
14.00% - 24.00%
10.25% - 17.99%
Processing Fees
Processing Fees
Starting from Rs.1999
Loan Amount
Loan Amount
₹ 50,000 to ₹ 15 Lakh
₹ 1 Lakh to ₹ 50 Lakh
Loan Tenure
Loan Tenure
12 to 60 Months
12 to 48 Months
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 2,327
₹ 2,548
Part Payment Charges
Part Payment Charges
Allowed after 0 months at Nil prepayment charges
Not Allowed
Foreclosure Charges
Foreclosure Charges
Allowed after 0 months at Nil prepayment charges
Allowed after 12 months at 5% foreclosure charges
Eligible Age
Eligible Age
26 to 58 Years
22 to 55 Years
Minimum Income
Minimum Income
₹ 10,000
₹ 40,000
Current Work Experience
Current Work Experience
0 Months
6 Months
Total Work Experience
Total Work Experience
0 Months
24 Months
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
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Compare EMI of Muthoot and Kotak Bank Personal Loan

Loan Amount Muthoot Kotak Bank
₹ 1 Lakh ₹ 2,327 ₹ 2,548
₹ 5 Lakh ₹ 11,634 ₹ 12,741
₹ 10 Lakh ₹ 23,268 ₹ 25,483
₹ 12 Lakh ₹ 27,922 ₹ 30,579

Which is a better bank for Personal Loan – Kotak Bank or Muthoot?

Muthoot offers lower Personal Loan EMI at 2327 on a Personal Loan for 60 Months as compared to Kotak Bank with a minimum EMI of 2548 for 48 Months. Average customer ratings for Muthoot is currently at /5.0 which makes it a good choice for taking a Personal Loan.

How does Kotak Bank Personal Loan compare with Muthoot Personal Loan?

It is important to do a detailed comparison of Kotak Bank and Personal Loan on all loan terms and conditions to understand their differences and take an informed decision. Keep in mind that each bank’s scheme has its own pros and cons that have to be evaluated before choosing the best offer. Some of the key results of the comparison between the two banks are:

  • Lowest Interest rate of Kotak Bank Personal Loan is 10.25%, which is lower than the lowest interest rate of Muthoot at 14.00%. Hence, Kotak Bank is offering a cheaper loan option.
  • When compared on other Personal Loan charges such as processing fees, Muthoot charges a processing fees of 2.5-3.5% while Kotak Bank charges a processing fees of Starting from Rs.1999.
  • Kotak Bank offers Personal Loan upto an amount of ₹ 50 Lakh while Muthoot offer Personal Loan upto an amount of ₹ 15 Lakh. Kotak Bank can be a better option if you are looking for a high value amount.
  • One feature that makes Personal Loan a better option is foreclosure facility. Muthoot gives the option to close the loan after Zero months at Nil prepayment charges and Kotak Bank gives the option to close the loan after 12 months at 5% foreclosure charges. This makes Muthoot a better option for Personal Loan.
  • Muthoot allows part payment on Personal Loan after Zero months at Nil charges, while Kotak Bank does not offer part payment facility on Personal Loan. This makes Muthoot a better option for Personal Loan.
  • Kotak Bank has an average customer ratings of 4.5, while has an average customer rating of , based on which it is clear that Kotak Bank has a high customer service focus, an easy Personal Loan process and a quick turnaround.

Which bank offers lower interest rate on Personal Loan – Kotak Bank or Muthoot?

As per the current rates, Kotak Bank offers a lower interest rate of 10.25% on Personal Loan when compared to Muthoot which offers a Personal Loan at 14.00%.

Know all about Personal Loan

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