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Home » Kotak Mahindra Bank Personal Loan Eligibility and How to Apply

Kotak Mahindra Bank Personal Loan Eligibility and How to Apply

Personal loans allow instant access to finances in times of financial difficulty. Kotak Mahindra Bank’s loan is designed specifically for this purpose. If you find yourself in a financial situation, you can contact Kotak Mahindra and request a personal loan. The low interest rates and multiple repayment alternatives might help you meet unexpected financial demands without breaking your spending plan each month.

Kotak Mahindra Bank Personal Loan Highlights
Interest Rate10.75% p.a. onwards
Loan AmountUp to Rs 50 Lakhs
TenureUp to 5 years
Minimum Monthly SalaryRs 20,000
Processing Fee1% – 3%

Features and Advantages of Kotak Mahindra Bank Personal Loan

  • Online Application
  • Criteria for Eligibility are Simple to Fulfil
  • Loan for Multiple Purposes
  • There is no need for security or collateral.
  • Rapid Disbursement
  • Minimal documentation:
  • Alternatives for Flexible Tenure
  • Enjoy the freedom to choose an appropriate personal loan term. You can choose between a minimum of 12 months and an overall duration of 60 months.
  • Kotak Bank provides the loan at a competitive interest rate that remains consistent throughout the term.

The eligibility criteria for a personal loan from Kotak Mahindra Bank

The following are the eligibility requirements for a Kotak Mahindra Bank personal loan:

  • This loan is available to anyone between the ages of 21 and 58.
  • For 3 months, the candidate must be a current member of a public or private sector firm.
  • To be qualified for this loan, the person seeking it requires an income of at least Rs. 20,000 each month.
  • The applicant must have a business history of 3 years.

Necessary Documents to apply for a Kotak Personal Loan

  • KYC of Applicant (Adhar Card+Pan Card+Passport Size Photo)
  • Last 3 month Salary Slip
  • Last 6 month Bank Statement in PDF
  • Form 16 of last 2 year
  • Rent Agreement if rented or Utility Bill if residence is owned
  • Sanction Letter of all current running loan if any
  • Office ID Card or Official EMAIL ID if any

How Can you apply for a Kotak Personal Loan?

  • Check out the bank’s official portal and ask for a personal loan online by completing the application form.
  • If you match the qualifying requirements, the bank will assign its relationship management to contact your contact address and collect the required documentation.
  • The bank will verify your documents immediately after they have been submitted. The application procedure may also include a discussion with the lender about your interest in obtaining a loan from them for personal use.
  • If you present all of the required paperwork and the banking institution meets its standards, the loan amount will be processed and transferred to your banking account.
  • You can also bring the necessary paperwork to the nearest Kotak Bank at your location.

You can get in touch with Kotak Bank personal loan customer service in the following methods, including

Call at 1860 266 2666 (this is a 24-hour hotline with standard call rates).

If you are an 811 customer, you can dial 1860 266 0811.

How will You Apply for a Kotak Personal Loan through Refer Loan?

You can apply through Refer Loan’s website.

1) Once you’ve finished reviewing the details, charges, and necessary documentation for Kotak Bank personal loans, confirm eligibility.

2) You’ll be taken to the application page. Enter the basic information requested.

3) Select Eligible Offers to see the Kotak Bank offers that are accessible to you based on what you’re eligible for.

4) Select Next.

5) An OTP will be sent to your mobile device. For authentication, input this OTP.

6) Send in your application.


Compared to other financial institutions, Kotak Mahindra Bank offers competitive interest rates on personal loans. Low interest rates and no additional charges make Kotak Mahindra Bank’s personal loans an attractive choice for funding your sudden financial requirements. Customers are not burdened by Kotak Mahindra Bank personal loans due to their long duration and part-prepayment options.

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