to apply for Kotak Mahindra Bank personal Loan
Kotak Mahindra Bank Personal Loan
- Free doorstep service
- Dedicated Relationship Manager
Would you Like To Read More about Kotak Mahindra Bank Personal Loan
Overview-Kotak Mahindra Bank
Kotak Mahindra bank is an Indian private bank. It offers a wide range of banking products and financial services to its customers. It has its headquarters in Mumbai. The bank has over 1369 branches across 689 locations and 2163 ATMs in the country. In 2016 it was the fourth largest private bank in the country. In 2014 it acquired the Vysya bank in a deal valued at RKs.15000 crore. With the merger total employment will jump to almost 40,000 and the count of the branches reached 1261. Kotak Mahindra offers a wide range of banking products and financial services for corporate and retail customers through a variety of delivery channels and specialized subsidiaries in the areas of personal finance, investment banking, life insurance and wealth management.
Kotak Mahindra Bank Personal Loan
Kotak Mahindra Bank personal loans are available for the individuals aged between 21 years and 58 years. With Kotak Mahindra Bank Personal loan you are one step closer to the goals and dreams of getting your financial needs. The loans may be availed for any personal reason such as weddings, holidays loan, educational fees, home improvements, buying durables and a lot more.
Why Choose Kotak Mahindra Bank Personal Loan?
Kotak is one of the most reputed private sector banks operating in the country. The bank which is almost a decade older has positioned itself well in the national banking arena with more than 1100 branches throughout the country. Kotak Mahindra Bank is a highly awarded bank. The innovative products and processes put forth by the bank position it among the most tech-savvy organizations of the country. It has regularly won awards from top financial organizations. These are some of the Kotak Mahindra Bank Personal loan benefits.
Features of Kotak Mahindra Bank Personal Loan
Some of the features of Kotak Mahindra Bank Personal loan:
- Loans can be availed for an amount ranging between Rs50000 to Rs1500000
- Flexible options ranging for repayment of the loans are available which range between 1year to 5 years
- Prospective customers can opt for ‘’ Bank Doorstep Service’’ wherein a representative from the bank’s end will be sent to the customer in order to complete the formalities
- Competitive interest rates fast and hassle free processing of applications
- No security or collateral is required
Documentation Required for Kotak Mahindra Bank Personal Loan
- Copy of passport, Voter ID, driving license.
- Processing fee cheque
- Last 3 months bank statement/ 6 months passbook
- Documentation for salaried applicants:
- Latest salary slip
- Current dated salary certificate with latest form no 16
- Documentation for self employed applicants:
- Latest ITR or form no 16
- Latest bank statement
- Signed application form with photograph
Interest Rates of Kotak Mahindra Bank Personal Loan
If you have availed the Kotak Mahindra Bank Personal loan before the MCLR benchmark came into force you can choose to stick to the traditional interest platform where you can pay interest as per the base rate or migrate to the MCLR system. Interest rates that are calculated at the base rate will depend on the tenure of the loan amount and purpose behind availing the loan. Kotak Mahindra Bank Personal loan interest rates typically vary between 11% per annum and 24% per annum.
Fees and Service Charges
Kotak Mahindra Bank Personal loan charges include the following:
- Interest rate ranging between 11% to 24%
- The processing fees are 2.5% of the entire home loan amount.
- Preclosure is permitted after 12 months, 5% of the principal outstanding ( plus applicable taxes)
- There is no guarantor required.
EMI Calculator of Kotak Mahindra Bank Personal Loan
Calculating EMI manually can be a tough task with a complicated formula. From the loan amount to the tenure of the loan, the interest rates each play a very important role in deciding the amount to be paid by each of the loan applicant. Kotak Mahindra Bank Personal loan EMI calculator provides all the assistance to the customers in calculating the EMIs.
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- All the financial requirements and services provided by MyMudra financial are available free of cost for the customers and one can avail them without any hesitation.
- More than 50+ banks and NBFCs are available on the customer screen from which one can choose according to their convenience.
- We provide you with the most dedicated personnel to take care of all your requirements and provide you with appropriate advice.
- There are about 1000 products that we offer along with the right mix of finance.
- We offer the best rate of interest , gift vouchers and all the other benefits and cash backs for their inter interest
- We offer financial services both online and offline and also offer offline counselling
- We provide end to end services i.e. we assist you right from the time you apply to the time the deal is finally done and delivered.
- We offer services all across the country.
FAQ Kotak Mahindra Bank Personal Loan
- Where can I find Kotak personal loan application form?
The Kotak personal loan application form can be found at the bottom of the Download Forms section. In this section you will have to select choices in three fields to get the respective financing form.
- Can I check my Kotak Mahindra Personal loan statement online?
Yes, it is possible to check the loan statement online by visiting the official site and logging in to your loan account.
- How can I receive my Repayment schedule?
The repayment schedule can be downloaded from the official site of the bank. Customers may also walk to the nearest customer care branch for a copy of the same or call / email the bank directly for a copy. The schedule will be directly sent directly within the next 4 hours.
- How do I postpone or reschedule my EMI Payments?
Postponing or rescheduling of the EMI payments is not possible.
- Do I have to pay extra charges to change the instalment payment date?
The instalment date may be changed within the available dates i.e. 1st, 5th and 10th of every month. Changing dates will incur PC swap charges and rescheduling charges a week before the EMI payment date and also a week before that.
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