About Kotak Mahindra Bank

Kotak Mahindra Bank is a private sector bank which works under the control of Reserve Bank of India (RBI). It was established in the year 2003 by Uday Kotak and earns revenue up to Rs. 110 billion. This bank offers many different and new products in banking sector and supports the customers financially through a various promoting channels especially in investment banking, life insurance, and wealth management which are partially owned by the company.

Some features of Personal Loans at Kotak Mahindra

Personal Loans are offered only for the customers who are salaried individuals to meet their financial requirement instantly through personal loan schemes available at Kotak. The need may be personal which may arise due to any situation such as transactions where physical cash is needed, sudden travels, vacation plans, weddings and many other requirements where the cash is on demand.

Match your financial needs by utilizing Kotak Mahindra personal loans to fulfill your dreams and goals. Personal loan can benefit you to meet unpredicted disbursement, a vacation, education cost, bridal expenses, or even buying of consumer goods.

Kotak Mahindra- Personal Loan Amount – Rs. 15, 00,000/-

You can avail personal loans at Kotak Mahindra up to Rs.15, 00,000/- if you are a salaried professional.

Kotak Mahindra - Rates of Interest - 11.5% to 24%

Personal Loans at Kotak Mahindra come with a rate of interest ranging between 11.50% to 24% per annum

Kotak Mahindra- Repayment of Loans

The Web PAY service allows you to pay your loan EMI via Non-Kotak Mahindra Bank over 30 major banks through NEFT/RTGS/IMPS. You can pay the EMI through online.

PAN registration is needed for the payment of Rs. 50,000 and above and updated.

This is an extra arrangement provided to customers above the current facilities offered at the Kotak Mahindra Bank for the payment of loan EMI.

Kotak Mahindra – Foreclosure Charges:

Kotak Mahindra does not allow prepayments for 12 months from the date of your first EMI. 30 days foreclosure notice is required to make a fore-closure of your personal loan at Kotak. Customer needs to write a letter or an email for the full prepayment of the loan. Once the intimation term is completed, the foreclosure statement of your loan will be issued to the customer. The cheque of full prepayment must be submitted within at least 7 working days before next EMI at the branch itself.

Foreclosure payment can be made via DD/ cheque/ cash, in favor of "Kotak Mahindra Bank” after the intimation term is completed. Your loan is closed once you prepayment cheque is cleared and the records are maintained in the bank.

The foreclosure charges applicable would be 5% + service tax on principal outstanding amount after 1 year +1 month.

Kotak Mahindra – Loan tenure - 5 years

You can lay back and pay your loan amount during a long loan tenure of 12month – 60 months.

Apply for Kotak Mahindra Personal Loans at LetzBank– Know how

Roll yourself and submit an application with letzbank.

Evaluate personal loan offer from a large gamut of partner banks

Click on the Personal Loan EMI Calculator option and plan your own loan including your EMI, ROI, and loan tenure. You can also fore-see your loan at various stages by using this tool.

Submit your application and we will get back to you.

None of the applicants will be charged any additional fee towards the service fee for the applications submitted online.