KOTAK MAHINDRA BANK Personal Loan Eligibility Calculator
Kotak Mahindra bank is the fourth largest private sector bank in India. Kotak bank started operations in 2003 and currently has a large set of operations spread over 363 locations in the country. It operates with full-fledged services that includes commercial, retail, investment and treasury offerings. The bank has over 600 branches and over 1,100 ATM’s spread across the country.
Kotak Mahindra Bank provides personal loans at attractive interest rates for a variety of different purposes such as wedding, vacation funding, child’s education, home renovations, medical emergencies, financing an existing loan and so on as per the need of customers. The bank provides quick approval and assistance on procedures for loan disbursal, also provides doorstep service with their trained representatives who assist in the completion of formalities for a hassle free experience.
Kotak Mahindra bank offer personal loans with attractive interest rates extending from 13.50% to 19.00% which is payable through EMI with repayment choices ECS, AD or PDC. Also the interest rates vary based on the income, your location and your company listing. Loan available upto 15 Lakhs for salaried individuals, which tenures from 12 – 60 months. As personal loans are unsecured loans, they have simpler documentation with no collateral or guarantor requirement. Kotak Mahindra bank offers pre-payment of the loan which can be done post 12 months of installments. Pre closure charges of 5% on principal outstanding.
Get your Personal Loan from Kotak Bank
Eligibility Criteria for Kotak Personal Loan:
Applicant’s age should be between 21 and 58 years
Should be a salaried individual or salaried professional
Minimum monthly salary of Rs. 25,000
2 years experience in current occupation
1 year residing in current home address
Please have the below documents ready for the quick processing of the loan,
- Application form and your latest photograph
- Proof of identity: Copy of passport/voter ID card/driving license
- Proof of address: Copy of ration card/ Utility Bill (not more than 3 months old) /rental agreement/passport
- Last 3 months salary slip, Current dated salary certificate with the latest Form 16
- Bank account statements for last 6 months