Kotak Personal Loan Interest Rate Calculator - Dec 2016

Kotak Bank Personal Loan Interest Rates

Last Updated 08th Dec 2016
Salaried Self Employed
Interest Rate 11.50% - 24.00% 16.00% - 19.99%
Lowest EMI Rs. 2,199 per lakh Rs. 2,432 per lakh
Loan Tenure From 12 months to 60 months From 24 months to 60 months
Loan Amount Min Rs. 100,000 and Max Rs. 1,500,000 Min Rs. 300,000 and Max Rs. 7,500,000
Processing Fee Upto 2% Upto 2%
Age Min 23 years and Max 58 years Min 25 years and Max 65 years
Prepayment Charges Not allowed Not allowed
Foreclosure Charges Allowed after 6 EMI's, 5% prepayment charges, 30 days notice applicable Allowed after 0 EMI's, 6% before 6 months and 5% after that
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 Salaried   Self Employed - Professional   Self Employed - Business 

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Kotak Bank Personal Loan

Kotak Bank gives the facility of personal loan to the people who want money to achieve their urgent requirements. There are some features and benefits of taking personal loan from Kotak Bank:
  • No collateral or security required
  • High loan amount
  • Quick approval on loan
    • Kotak Bank has been rated 3.3/5.0 by customers for its service quality on MyLoanCare
    • Kotak Bank has over 606 branches in India where you can avail service
    • Kotak Bank offers special schemes and discounts for employees of large companies.
    Kotak Bank Personal Loan Interest Rate depends upon
    • Loan amount: Personal loan rate in Kotak Bank depends upon the loan amount you apply for. Higher the loan amount, lesser will be the interest rate
    • Company where you work: Kotak Bank has a list of companies to which they lend personal loan. Interest rate will be less if your company is listed
    • Your Salary: Income helps you in determining your rate of interest. Kotak Bank interest rate varies with your monthly income. Higher the income, less will the rate of interest

    Personal Loan Kotak Bank Charges

    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 personal loan after paying 6 EMI’s with 1 prepayment charges
    Processing Fee- Kotak Bank asks for a processing fee of Upto 2% of loan amount with applicable service tax

    Kotak Personal Loan EMI Calculator

    Personal Loan EMI of Kotak Bank is a fixed amount that you pay each month towards the repayment of your personal loan till the end of tenure. Lowest EMI offered by Kotak Bank is Rs. 2,199 per lakh loan amount. Personal Loan EMI of Kotak Bank depends on factors like:
    • Rate of interest is an important factor which affects your EMI. Higher the interest rate, higher will be the EMI
    • Loan tenure matters equally as longer tenure reduces your monthly EMI per lakh
    • Your EMI depends upon the amount of loan you are going to borrow. Loan EMI will be high if you apply for a high loan amount
    What are the benefits of calculating Personal Loan EMI?
    • Personal Loan EMI calculator of Kotak Bank helps you to calculate your monthly EMI at different rate of interest
    • Kotak Bank EMI calculator helps you to know your capacity to repay the loan after maintaining your standard of living
    • You get a rough idea about your monthly EMI and can plan your monthly budget accordingly
    Estimated EMI online by using EMI Calculator.

    Kotak Personal Loan Eligibility Calculator

    Personal Loan eligibility criteria Kotak Bank
    Eligibility of personal loan in Kotak Bank relies upon different factors but the most important factor is your ability to repay the loan. The main factors on which the eligibility of an applicant depends are
    • Age: Age plays an important role to know your eligibility and repayment capacity. Citibank offers personal loan to salaried individuals who are atleast 23 years old at the time of loan approval and maximum 58 years at the time of loan maturity. Self employed individuals with age of atleast 25 years and maximum 65 years at the time of loan maturity can apply for personal loan from Kotak Bank
    • Income: Kotak Bank Loan eligibility significantly depends upon your income. Usually bank set minimum levels of income to apply for personal loan. Kotak Bank asks for net monthly income of minimum Rs. 22,000.
    • Job stability and Profession: Job stability is important to improve your status and eligibility for personal loan from Kotak Bank. In case you are salaried, you must be in a full time job for at least 36 months of which not less 6 months must be with your current company. In case you are self-employed, you must be in current profession or business for at least 0 years and should preferably own either your office or your place of residence. Minimum turnover and minimum net income criteria may apply. Other than job stability, profession is also an important factor which can affect your Kotak Bank eligibility. If you are working with a reputed company, probability of getting personal loan from Kotak Bank increases as the income is considered to be more stable
    • CIBIL Score: Your past CIBIL history and repayment record of existing loans and credit cards has direct impact on your personal loan eligibility. If you have a poor repayment record, then you may not get the loan but on the other side, a regular repayment record increases your personal loan eligibility.
    • Loan Amount: Kotak Bank gives you personal loan depending upon your income. Kotak Bank gives you an amount ranging from Rs. 100,000 to Rs. 1,500,000. To improve chances of approval, apply for a loan amount that you can comfortably service.
    Estimated eligibility online by using Eligibility Calculator.
    Popular Products:
    • Personal Loan for Meeting Unexpected expenses
    • Loan for Home Improvement Expenses
    Maximum Annual Percentage Rate (APR) 11.9% to 24.4%
    Representative example of the total cost of the loan, including all applicable fees
    Here is an illustration of the total cost of the loan:
    • Total amount borrowed: Rs. 100,000
    • Time period: 12 months to 60 months
    • Kotak Bank Personal Loan Interest Rate: 11.50% to 24.00%
    • Processing Fee payable to Kotak Bank: Upto Rs. 2,000. Current offer for processing fee is Upto 2%
    • Fee payable to MyLoanCare: NIL
    • Total Monthly Cost – From Rs. 2,199 for a 60 months Rs. 100,000 loan at 11.50% (lowest rate, longest time period) to Rs. 9,456 for a 12 months Rs. 100,000 loan at 24.00% (highest rate, shortest time period). This is inclusive of principal repayment.
    • Annual Percentage Rate (APR) of charge including all applicable fees: 11.9% to 24.4%
    • Total cost payable over loan tenure: Rs. 15,472 for 12 months loan to Rs. 33,956 for 60 months loan
    Kotak Bank’s terms and conditions as per loan agreement applicable. Short term loans/ pay day loans not available; minimum loan tenure - 12 months. Rate of interest depends upon company categorization, income, job stability, loan amount, CIBIL score, credit profile, existing obligations, verification and other factors. Credit at sole discretion of Kotak Bank.

    Kotak Bank Personal Loan Top up, Transfer

    Transfer of personal loan from another bank to Kotak Bank?
    Kotak Bank offers personal loan balance transfer from another bank. This is subject to your meeting other eligibility criteria of Kotak Bank
    You can avail additional top-up personal loan from Kotak Bank, subject to your eligibility

    Personal Loan Kotak documents required

    Personal loan for Salaried employee Kotak Bank documents required

    • Filled up loan application form
    • 1 Passport Size Photo
    • Copy of Income Tax PAN
    • Identity Proof - Passport/ Driving Licence/ Voter ID/ PAN
    • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport
    • Income Documents – 3 months payslip, 2 years Form 16, 6 months bank statement showing salary credit and any EMI debit

    Personal loan for Self-Employed Kotak Bank documents required

    • Filled up loan application form
    • 1 Passport Size Photo
    • Copy of Income Tax PAN
    • Identity Proof - Passport/ Driving Licence/ Voter ID/ PAN
    • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport
    • Income Documents – 2 years audited financials, 6 months bank statement
    • Business proof such as VAT/ service tax registration, incorporation details in case of companies, business address proof

    Compare Kotak Personal Loan

    Kotak Personal Loan in India

    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 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
    Sonepat 080-66006022
    Surat 0261-6600602
    Trichy 044-66006022
    Udaipur 1800-102-6022
    Vadodara 0265-6646022
    Varanasi 011-66006022
    Vijaywada 040-66006022
    Vizag 040-66006022
Kotak Personal Loan News - Dec 2016
13th May 16 Kotak Mahindra Bank Q4FY16 standalone net profit rises 32%
Kotak Bank reported standalone net profit of Rs. 695.78 crore for the quarter ended March 31, 2016, registering growth of 31.99%. NII for the quarter stood at Rs. 1857.24 crore, clocking growth of 65.36%. Gross NPA for the quarter stood at 2.36% up 51 bps yoy For the year ended March 31, 2016, the bank reported net profit of Rs. 2089.78 crore, registering growth of 11.99% yoy. NII for the current period of Rs. 6900.38 crore was up 63.37% yoy.
12th May 16 Kotak Mahindra announces rise in earnings, becomes 2nd most valued private bank
At a time when most Indian banks profitability has been marred by high levels of bad loans and provisions, Kotak Mahindra Bank earnings reflect the rise of yet another superior class bank despite the challenging times. The private lender which closed the year with a credit cost of 83 bps has guided towards a total credit cost of 45 to 50 bps for FY 2017. The bank also expects a loan growth of over 20% in the coming year largely on the back of revival in the CV, small business and SME segment.
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