Apply for Kotak Mahindra Bank Personal Loan Online   4.92 stars, based on 13 reviews

Interest Rate EMI
13.00% - 18.00%


2,275 - 2,539

(per Lakh)

Details Details

Documents Required

PAN Card, Address Proof, Govt ID Proof (Not required if already given as an address proof), 3 month payslip (with DOJ mentioned), 3 month bank statement, photograph. Additional documents on case to case basis.

Preclosure Charges

  • 1 year lock in
  • 5% fee thereafter

Part-Payment Option

Not available

Max Eligibility: 40,00,000


Increase tenure to reduce EMI/maximize Eligibility.

Interest Rate EMI Processing Fees
13.00% - 18.00%


2,275 - 2,539

(per Lakh)

Kotak Mahindra Bank Personal Loan Overview

Kotak Mahindra Bank is the Indian bank and financial service firm that was established in early 1900s. It was known as Kotak Mahindra Finance Limited, which is a NBFC. During February 2003, this Kotak Mahindra Finance Ltd, group's flagship company was provided with license to start banking business by Reserve Bank of India (RBI). Kotak Mahindra Finance Ltd. Convert itself into an Indian bank for the first time. Between 2011 to 2013 years, this bank grew as big as 500 branches, with over 1,000 ATMs. Kotak Mahindra Bank offers personal loan with less documentation and attractive interest rates.

No matter how much ever detailed explanation is given a customer review will be more supportive and acceptable. A few of our customer reviews and rating are made available in Finance Buddha website to help all possible customers. The applicant just has to be 21 years old and less than 55 years. It doesn’t matter whether you are a salaried or self-employed individual, regular income is sufficient. If you earn the minimum limit of income- simply apply for a personal loan and make your dreams a reality right away.

Kotak Mahindra Bank Personal Loan Details:

Institution Type: Bank

Minimum Loan Amount: ₹50,000

Maximum Loan Amount: ₹1,500,000

Minimum Tenure: 12 months

Maximum Tenure: 60 months

APR: 10.99% to 24%

Fees & Charges: Up to 2.5% + GST as applicable

Features of Kotak Mahindra Bank Personal Loan

  • Minimum and maximum amount for personal loan is ₹50,000 – ₹1,500,000.
  • With the Kotak Mahindra Personal Loan It is possible to get loan within 72 hours.
  • Requires minimum documentation & has simple free processing.
  • This bank offers flexible repayment option ranging from 12 - 60 months for salaried customers and 12- 36 months for professionals/ businessmen.
  • Get the services for loans just a phone call away; all our services are offered at door step by our executives. Need not worry about fixing an appointment and travelling in the traffic up and down for availing loan amount.
  • This bank offers low personal loan interest rates starting @10.99%.

Benefits of Kotak Mahindra Bank Personal Loan

  • No guarantor required.
  • Foreclose your entire personal loan any time after paying 6 EMI's with 5% prepayment charges, 30 days’ notice applicable.
  • This bank has been top-rated by its customers for its service quality.
  • This bank has over 606 branches in India where you can avail service.
  • This bank offers special schemes and discounts for its customers.

Why should you choose Kotak Mahindra Bank Personal Loan?

This is the best place to get loan in short period with affordable rates. They offer very well and responsive service to each of its customers. Offers are not just for Indians but also for NRI customers. Loan amount and top- up loan is possible any time as per the eligibility criteria and capability to repay.

 Other reasons to choose this bank for personal loans are:

  • Kotak Bank offers balance transfer from one bank to another bank for personal loan. This offer is subject to meeting other eligibility criteria of the Bank.
  • Applicant can avail additional top-up on personal loan from this Bank, again this is subject to the eligibility.

How to apply online for Kotak Mahindra Bank Personal Loan?

Applying for personal loan through Finance Buddha is very simple with straight forward steps. Simply visit the website and give your credentials, among the list of banks if Kotak Mahindra is one which you can apply as per your eligibility criteria, there is nothing more required. Quickly connect to the banks through your Finance Buddha application and the rest bank will consider and take it forward with your consultation.

Kotak Mahindra Bank Personal Loan Eligibility Criteria

Salaried Employees


Resident Indian employed at a Public Ltd co./ MNC/ large Pvt. Ltd co.


21-58 years


Net monthly salary of ₹25,000/-

Minimum Educational Qualification


Residence Telephone


Years in City

Minimum 1 year

Total Work Experience

Minimum 2 years

Kotak Mahindra Bank Personal Loan Documents Required

For Salaried Individuals:

  • Fill up loan application form
  • 1 Passport Size Photo
  • Copy of Income Tax PAN
  • Identity Proof - Passport/ Driving License/ Voter ID/ PAN
  • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport
  • Income Documents – 3 months’ pay slip, 2 years Form 16, 6 months bank statement showing salary credit and any EMI debit

For Self-Employed Individuals:

  • Fill up loan application form
  • 1 Passport Size Photo
  • Copy of Income Tax PAN
  • Identity Proof - Passport/ Driving License/ Voter ID/ PAN
  • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (up to 3 months old), Passport
  • Income Documents – 2 years audited financials, 6 months bank statement
  • Business proof such as VAT/ service tax registration, incorporation details in case of companies, business address proof.

Kotak Mahindra Bank Personal Loan Interest Rates, Fees & Charges (updated @current date)


Salaried Employees

Self Employed Individuals

Interest Rate

10.99% - 24.00%

18.00% - 24.00%

Loan Tenure

From 12 months to 60 months

From 24 months to 60 months

Processing Fee

Up to 2.5% + GST as applicable

Up to 2.5% + GST as applicable


Min 23 years and Max 58 years

Min 25 years and Max 65 years

Foreclosure Charges

Allowed after 6 EMI's, 5% prepayment charges, 30 days’ notice applicable

Allowed after 0 EMI's, 6% before 6 months and 5% after that

Loan Amount

Min ₹50,000 and Max ₹1,500,000

Min ₹300,000 and Max ₹7,500,000

Prepayment Charges

Not allowed

Not allowed

Frequently Asked Questions


My request for personal loan was considered on day 1; day 2 documents were collected in the morning and by evening it was approved, day 3 they confirmed me that the cheque for personal is dispatched. Day 5 I have the money in my account. No is no other easy way to let you know good and fast their service was. If ever I have to think for a personal loan again in my life, I will definite opt Kotak Mahindra Bank.


Am a customer with this bank from past 2 years with an outstanding personal loan. They offer very good service at low and affordable charges. I suggest you all to consider this bank without any second thought. The interest rates are evidently low as compared to other banks.


Kotak Mahindra bank is most popular bank all over India, the bank interest rate 6%, bank link up three account in one of deposit submits no extra maintenance cost.


Very fast and quick working team is part of this bank, my personal loan was approved and money was in my account within 3 days. I liked the service and quick turn-around time.


As a senior citizen I was given great care and made sure there was less effort put from my end. They loan advisor called me personally each and every time to keep me updated about the process. This kind of service for senior citizen is appreciable.


This bank has simple and limited steps to avail for a loan. Everything looked fast and I just applied online through Finance Buddha, there was no need to contact bank directly at all.


I received a fair and smooth response from the executive team. Though nothing was extraordinary- I was able to get the loan amount within 3 days.


Highly response personal loan team I have ever met. This is my 4th personal loan request and my first experience with Kotak Mahindra. When my friend suggested this bank for loan, I didn’t expect thing extent of good service. Wish to rate them 5+


Right from the beginning to the end of the loan process, I received excellent service. Even the online and interactive services were equally good.


The sales team was very ast in giving the approval. This made the processes fast and I received the money in 5 days.


Getting a loan was an easy task, now I understand why people go to reputed banks. The level of service and attention I received was extraordinary and admirable.


The personal loan process is very simple and hassle free. They did a very good scrutiny of the documents and helped me to get a personal loan at a very low interest rate.


Very good and fast processing, the agents were very approachable. I loved the service and the level of attention to detail they gave to my request. Though I was offer 12.05% as the initial rate, post recalculate, they themselves told the rate is reduced to 11.95%. I did not request for a reduction but when they found an option, they didn’t hesitate to reduce the percentage.