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Kotak Mahindra Business Loan - Apply Online @16%

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Business Loan Details

Company Details

Turnover

Net Profit After Tax

Depreciation

Director/Partner Salary

(Not Applicable for Proprietorship Firm)

Personal Details

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Rate of Interest is high ?

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Kotak Mahindra Bank Business Loan Details

Kotak Mahindra Business Loan

Kotak Mahindra is the fourth largest private bank headquartered in Mumbai – this was incorporated in the year 1985. The total income generated is INR 34,321.12 crores (2016) and it owns almost 641 branches. It also has specialized subsidiaries in various areas which includes loans and investment services. Those who are looking for a business loan can rely on Kotak Mahindra for best offers and interest rate.

Different Business Finance options available from Kotak Mahindra

Unlike other banks and NBFCs, Kotak Mahindra offers a lot more than just loan. This is very reason why customers love to be a part of this reputed bank. Some of the finance options offered are:

i.                    Business Banking Solutions:

Through this various business financial requirements are met irrespective of how comprehensive the product it or now how low the credit rating score is. Individual exposure of up to INR 300 million is offered starting from INR 5 million. The business requirement is individual reviewed on its performance basis and the credit team will scrutinize the industry in which the business in functioning. According to the stability, consistency and future expectations various banking solutions are offered at varied interest rates.

ii.                 Business Loans:

Business loan is a great way to increase financing towards business needs.  There are many banks that offer loan with and without collateral with pre-approved offers. It is the money that is credited to your account with specific percentage of rate of interest and fixed period for repayment. This amount can be used for expansion of existing business or to start a brand new business. According to the needs of the business, the loan amount will be approved by Kotak Mahindra bank.

iii.               Commercial Vehicle Finance:

Financial aids are available for both new and used vehicles. Loan upto 70% of market value of the vehicle is offered. It requires simple documentation and offers flexible repayment options. Loan tenure ranges from 12-60 months as per the choice of the applicant.

iv.                Construction Equipment / Infrastructure Finance:

Infrastructure plays a key role in setting up India’s economy. Over the next five years India needs more than 31 trillion to be spent on the development of infrastructure. A dedicated infrastructure group has been formed by Kotak Mahindra investment banking service. Financial solutions are provided to both public and private sector corporates. The backbone of infrastructure team consists of professional experts who have strong background in resource mobilization and investment banking.  This dedicated team of seasoned professionals focuses on different sectors like power transportation, urban transportation etc. provide financial solutions to corporates.

v.                  Credit Access:

This gives the ability to credit access over a certain limit is possible with this option and the applicant will not be charged with an over limit fee. It is also called as revolving credit amount. The credit access line will be posted on the monthly billing statement and it is at the discretion of the bank.

vi.                Facility against Credit Card Receivables:

Business loan of up to INR 30 million can be availed through Kotak Mahindra bank against credit card receivable. The amount is determined on the basis of sales of past years. Few interesting features of finance facility against credit card are:

  • Higher loan eligibility is offered for Self Employed applicants.
  • Loan amounts can be availed upto a maximum of INR 30 million.
  • Flexibility is offered to combine Overdraft and Loan.
  • Very Low Processing Fees.
  • Stress-free repayment options are available.
  • No Collateral required.
  • Very competitive interest rates are offered.
  • Quick disbursement of finance.

vii.             K-Value:

This is a special overdraft facility offered for businesses according to its needs and emergencies. Through this unsecured overdraft of up to INR 5 million can be availed however it depends on the financial stability of the business and the applicant.

viii.           Term Loans (Strategic Business Loans):

There is no doubt, every entrepreneurs goal is to expand and grow their business day after day and for the same effort and finance are basis requirement, whether it is a great business opportunity or an emergency that you are stuck with need immediate finance, the best option is a customized business loan to unlock the doors against any property or asset.

ix.                 Tractor Finance:

Loan is offered by Kotak Mahindra Bank for the purchase of a new tractor or for used ones for commercial or agricultural purpose, such loans are termed as Tractor Finance. Some features of the same are:

  • Requires very minimum documentation.
  • Exceptional after-sale service.
  • Good and low rates of interest.
  • Service is offered at the doorstep.
  • Can avail life insurance shield such as Kotak Kisan Suraksha.
  • Additional Balance Transfer is made available.
  • Have option to take Top-Up loans.

x.                  Unnati Auto Finance:

Those who are looking for easy and hassle free loan option for owning construction equipment, a commercial vehicle or for the working of any commercial equipment should give a try with Kotak Mahindra bank to enjoy the facilities to the utmost. Unnati Auto loans are offered to customers for buying used commercial vehicle and for other commercial purposes including machinery needs. Here are the features of the same:

  • Loan for buying of used or new MUVs/ SUVs/Taxis are available
  • Loans for buying of used construction equipment and commercial vehicles is offered
  • Refinance on present commercial equipment and vehicles
  • Flexible payment options
  • Hassle-free and quick processing
  • Flexible and customized financial solutions are available
  • There are large network of centres for accessibility of paying easy EMIs
  • It’s more of a customer oriented service

Features & Benefits of Kotak Mahindra Business Loans

  • Flexible and easy repayment options
  • Maximum amount that can be sanctioned under this scheme is INR 7.5 million.
  • Hassle free system.
  • The rate charged by bank is based on a benchmark, Prime Lending Rate (BPLR) which offered by Kotak Mahindra is 18.2555%per annum.
  • Insurance options for your business Loan at attractive premium
  • Faster processing.
  • Minimal documentation.
  • Sanction approval without any mortgage.
  • Foreclosure options available for low charges.
  • Customized offers for corporates & women professionals.
  • Interest is calculated on monthly basis.
  • Quick Loan Disbursal.
  • Accessibility of service at your doorstep.
  • Quick loan approval.
  • Online loan request option available.
  • Low interest rates.

Why should you choose Kotak Mahindra Bank Business Loan?

Since its establishment in 1985, the journey of Kotak Mahindra bank has been steady and confident making millions of contented customers. Loans can be availed at attractive interest rates and getting one is pretty simple and easy. Loans can be taken upto 75 lakhs in a hassle free and quick manner. There are lot of flexible repayment benefits offered to the customers. Through Kotak Mahindra you will save a lot of time on loan processing and approval. This is a one stop solution for expert finance assistance. Though there are high rate of competition in the market the services of Kotak Mahindra stands out for its unique and customized services.

How to apply online for Kotak Mahindra Bank Business Loan?

One of the easiest and smart ways to apply for a business loan is through Finance Buddha- the online platform; it’s a one-stop solution for every business loan necessities. Information required before proceeding with the application is:

  • Borrower name
  • Company name
  • Year of Incorporation
  • Loan amount
  • Choose the city
  • Turnover
  • Net profit after tax
  • Mobile number
  • Depreciation
  • Email ID
  • Partner salary

Once all necessary information is shared, this will give the result of banks that are available to offer loan per your requisites. This helps you to apply to the loan with the bank that you prefer. The bank officials will directly contact you to let you know the next steps for proceeding with the business loan application.

Eligibility Criteria for Kotak Mahindra Business Loans

  • Age at least 23 and less than 55
  • Self Employed - 5 years in business with 3 Years IT Returns
  • Net Profit > INR 250,000 p.a.  and Turnover listed below
  • Minimum Loan Amount is INR 200,000 and Maximum Loan Amount is INR 5 million.
  • Tenure limit of 1 Year minimum up to 4 Years maximum
  • Must be salaried Indian residents working at MNCs, public companies, and other large establishments
  • Income must be greater than INR 25,000 per month

Profile

Annual Turnover requirement

Self Employed Businessmen

INR 20 million

Manufacturers

INR 10 million

Service Providers

INR 5 million

Kotak Mahindra Business Loans Interest Rates, Fees & Charges (updated 20 Jul,2019)

Interest rates of Kotak Mahindra bank are either of diminishing rates or flat rates. Reducing or Diminishing balance rate means the interest rate which is calculated each month on the remaining loan amount. In this method, the EMI includes interest that is owed for outstanding amount of loan for each month beside the principal of settlement. After every EMI payments, outstanding amount of loan gets reduced.  And flat rate of interest means the rate of interest which is considered on full amount of loan during the course of its tenure without considering that once-a-month EMIs would slowly decrease the interest rate along with principal amount.

Interest Rate Range

Processing Fee Range

Loan Amount

Tenure Range

11.5% to 19.65%Fixed

Up to 2%

INR 1.5 million max.

1-5 years

 

Variable Fee and charges (Base rate only, a margin may apply)

Variable rate

Small Business Loan Rate

5.24% p.a.

Small Business Overdraft Rate

6.44% p.a.

Business Development Rate

6.35% p.a.

Overdraft Business Rate

7.17% p.a.

Business Equity Access Rate

5.47% p.a.

 

Fixed Fee and charges (Base rate only, a margin may apply)

Fixed rate for business loans

1 year

5.19%

2 year

5.06%

3 year

4.99%

4 year

5.24%

5 year

5.33%

7 year

5.99%

10 year

6.74%

Kotak Mahindra Business Loan Documents Required

  1. Application form with applicant’s signature and photograph.
  2. Copy of passport/voter ID
  3. Processing fee cheque
  4. Employees need to submit salary slips of last three months.
  5. Balance Sheet & Profit and Loss Account of company
  6. Proof of ownership of Residential Or Commercial Property
  7. Latest Bank statement for 6 months
  8. Business Proof & ID
  9. Address Proof: Electricity bills, water bill, telephone bills etc
  10. ID Proof: Passport, Voters ID card, Driving License and Pan Card
  11. Proof of Continuity of Business
  12. ITR & Statement Of Computation of Income – up to 2 Years
  13. Board Resolution (If pvt ltd co. is Partnership Authorization Letter/ co-borrower {if partnership firm just co-borrower}
  14. CA Certified or Audited P/L Acc Statement and schedules of P&L along with Balance Sheet – for last 2 years
  15. Ownership Proof of Residence or Office
  16. Latest ITR of the Co-Applicants – For last 2 Years
Frequently Asked Questions

What can the business loan amount be used for?

The loan amount can be used for expansion of existing business, for crafting a whole new business from scratch. It can also be used for the working capital purpose and more.

Who can avail this business loan and what is the eligibility?

Below are the important few criteria to be eligible for a business loan from Kotak Mahindra Bank Age at least 23 and less than 55 Self Employed - 5 years in business with 3 Years IT Returns Net Profit should be greater than INR 250,000 p.a.

What are the necessary or must submit documents for financial proofs?

Keep all original documents handy like revenue slips, bank statements, tax payment receipts and other financial documents.

Kotak Mahindra Bank Business Loan ReviewsView All

Chirag

5 / 5

The people who handled my Finance just like your best manager at the company. They helped me gain a loan for my business with Kotak Mahindra Bank at a different level by providing me with the incentive of quick processing and disbursal of loan amount into my bank account.
Jayesh Shah

5 / 5

The people who helped me in hard times I’ll never forget their undying support. Finance Buddha the team who stood beside me at the harsh times of my business and helped me get it funded by Kotak Mahindra Bank without any hassle in the documentation process of the loan.
Dhiren

5 / 5

The lowest interest rates and the processing fees on my business loan provided to me by Kotak Mahindra Bank with the assistance of Finance Buddha was an undeniable offer. It helped my business grow to the position and helped it operations too at a very good scale.
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