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Compare Personal Loan - Tata Capital vs Kotak Bank

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Bank
Parameters
Interest Rate
Interest Rate
10.49% - 17.99%
10.25% - 17.99%
Processing Fees
Processing Fees
Upto 2.50% of Loan Amount
Starting from Rs.999
Loan Amount
Loan Amount
₹ 75,000 to ₹ 25 Lakh
₹ 1 Lakh to ₹ 50 Lakh
Loan Tenure
Loan Tenure
12 to 72 Months
12 to 48 Months
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 1,877
₹ 2,548
Part Payment Charges
Part Payment Charges
Allowed after 6 months at Nil prepayment charges
Not Allowed
Foreclosure Charges
Foreclosure Charges
Allowed after 6 months at Rs. 1,000 to Rs. 5,000
Allowed after 12 months at 5% foreclosure charges
Eligible Age
Eligible Age
21 to 58 Years
22 to 55 Years
Minimum Income
Minimum Income
₹ 20,000
₹ 40,000
Current Work Experience
Current Work Experience
3 Months
6 Months
Total Work Experience
Total Work Experience
24 Months
24 Months
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
4.6/5.0
4.5/5.0
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Compare EMI of Tata Capital and Kotak Bank Personal Loan

Loan Amount Tata Capital Kotak Bank
₹ 1 Lakh ₹ 1,877 ₹ 2,548
₹ 5 Lakh ₹ 9,387 ₹ 12,741
₹ 10 Lakh ₹ 18,774 ₹ 25,483
₹ 12 Lakh ₹ 22,529 ₹ 30,579

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

Tata Capital offers lower Personal Loan EMI at 1877 on a Personal Loan for 72 Months as compared to Kotak Bank with a minimum EMI of 2548 for 48 Months. Average customer ratings for Tata Capital is currently at 4.6/5.0 which makes it a good choice for taking a Personal Loan.

How does Kotak Bank Personal Loan compare with Tata Capital 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 Tata Capital at 10.49%. Hence, Kotak Bank is offering a cheaper loan option.
  • When compared on other Personal Loan charges such as processing fees, Tata Capital charges a processing fees of Upto 2.50% of Loan Amount while Kotak Bank charges a processing fees of Starting from Rs.999.
  • Kotak Bank offers Personal Loan upto an amount of ₹ 50 Lakh while Tata Capital offer Personal Loan upto an amount of ₹ 25 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. Tata Capital gives the option to close the loan after 6 months at Rs. 1,000 to Rs. 5,000 and Kotak Bank gives the option to close the loan after 12 months at 5% foreclosure charges. This makes Tata Capital a better option for Personal Loan.
  • Tata Capital allows part payment on Personal Loan after 6 months at Nil charges, while Kotak Bank does not offer part payment facility on Personal Loan. This makes Tata Capital a better option for Personal Loan.
  • Tata Capital has an average customer ratings of 4.6, while Kotak Bank has an average customer rating of 4.5, based on which it is clear that Tata Capital 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 Tata Capital?

As per the current rates, Kotak Bank offers a lower interest rate of 10.25% on Personal Loan when compared to Tata Capital which offers a Personal Loan at 10.49%.

Know all about Personal Loan

Know more about Tata Capital Personal Loan

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Personal Loan News - Jul 2021
  • 2021-07-16 : Amalgamation of Bank of Baroda, erstwhile Vijaya Bank and erstwhile Dena Bank
    Bank of Baroda, on its website, stated that the IFSC codes of the erstwhile Vijaya Bank and Dena Bank were discontinued on March 1, 2021. Customers have been asked to apply for cheque books with the new MICR code at the earliest.
  • 2021-07-16 : UBI update on change in IFSC code for merged banks - Andhra Bank and Corporation Bank
    Union Bank of India (UBI) on Friday said the IFSC codes of the erstwhile e-Andhra Bank and e-Corporation Bank branches will change with effect from July 1, 2021. Customers of the erstwhile banks will have to get new cheque books with changed IFSC and MICR codes
  • 2021-07-16 : Bandhan Bank total loans rise 8% to ₹80,128 crore in Q1, deposits up 28%
    Bandhan Bank witnessed an 8% rise in its loans and advances to ₹80,128 crores in the June quarter this fiscal. The loans and advances during the same period of 2020 stood at ₹74,331 crore. Compared sequentially, it was down by 8% from ₹87,043 crores in the March quarter. Total deposits grew by 28% year-on-year to ₹77,336 crores, while the CASA (current account and savings account) deposits jumped by 48% to ₹33,197 crores in the first quarter of 2021-22.
  • 2021-07-15 : Indian Bank merger with Allahabad Bank - Change in IFSC
    The Indian Bank, which has merged with the Allahabad Bank, carried out a software migration over the weekend. As the merger got completed, new rules had been issued by the bank with regard to its services. Existing customers were asked on July 1 to get a new IFSC code to carry out online transactions smoothly.
  • 2021-07-15 : OBC & UBI merged with PNB
    After the merger of OBC and UBI with PNB in April 2020, PNB has now updated the IFSC codes of all the branches of PNB and UBI. New IFSC codes have come into effect from July 1, 2021.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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