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Kotak Bank Personal loan
Loans are a situation that most people can relate to. Everyone has borrowed money at one point in his or her life — to pay for a wedding, a vacation, or cover an emergency expense. at Kotak Mahindra Bank, we understand that your needs are ever-growing. That's why we operate on the simple principle: if you require funds for something vital now and for the future, we offer you swift personal loans that come with unmatched convenience and flexibility. Kotak Mahindra Bank offers instant loans to individuals and the self-employed without any collateral. These personal loans can be obtained for a few days up to Rs.25 lakhs. You can choose your loan tenure and ease of repayment, making it easier for you to fulfill your requirements. All you need are three simple documents and a photograph and you will have instant approval on your loan application.Powered By
Kotak Bank Personal loan
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Here are a few factors
| Location | PAN INDIA |
| CIBIL Score | 700+ |
| Minimum Salary Per Month | 30000/- Per Month |
| Salary Mode | NEFT,RTGS & COMPANY TRANSFER |
| Applicant Age | 21 Year to 58 Year |
| Loan Amount & Tenure | 1
Lac to 50 Lac (12 Month to 60 Month) |
| Rate of Interest (Type) | 10.75% to 17.99% (Reducing) |
| Processing Fees | 1% - 3% |
| Processing Mode & TAT | Processing:
Online TAT: 2 Day to 5 Days |
| Foreclosure Charges | AFTER 12 M BELOW 10 LAC 4% CHARGES |
| Part Payment Allowed | Yes |
| OD Product | Yes |
| BT+TopUp | No |
| Minimum Job Experience | 3 Month |
| Current Employer Business Vintage | 3 Year |
| FOIR | 70% of Net Salary |
| Whether Co-Applicant Mandatory | No |
| USP | Low Interest Rate |
| Negative Profile | 1. Employee whose Salary receive in Cash, UPI & IMPS 3. NGO Employee, 4th Grade Employee, Defence Employee, Police, Mall Employee, SPA & Saloon, Gym Employee, Bar Tender, Taxi Driver |
Required Documents to Apply for Kotak Bank Personal Loan
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KYC of Applicant (Adhar Card+Pan Card+Passport Size Photo)
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Last 3 month Salary Slip
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Last 6 month Bank Statement in PDF
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Form 16 of last 2 year
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Rent Agreement if rented or Utility Bill if residence is owned
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Sanction Letter of all current running loan if any
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Office ID Card or Official EMAIL ID if any
About Kotak Mahindra Bank Personal Loan
Personal loans up to Rs 40 lakh are available from Kotak Mahindra Bank for terms of up to 6 years at a rate of 10.99% p.a. For salaried customers, it provides rapid loan disbursal, part-prepayment capability, and simpler processing. In India's foremost commercial and metropolitan areas, Kotak Mahindra Bank also provides a fast personal loan option.
Key highlights of Kotak Bank Personal Loan
The sudden need for finances is sometimes unavoidable, whether personally or professionally. So, consider a Personal Loan as the first and best option for immediate funds. Also, as per the market trends, Kotak Bank Personal Loan has been acting like a boom because of its lowest interest rates and higher loan amounts. Let us move ahead in this article and learn more about the benefits and other details of Kotak Bank Personal Loan.
Save Your Time with a Simple Loan Process
Visit Our Website
For the first step, you will have to visit our website to explore the loan options that fit your needs.
Select and Apply
Once you shortlist the loan you have been looking for, apply for it, and proceed with the further process.
Submit Your Document
One of the most important steps. Now you will have to submit all the required documents digitally.
Enjoy Your Financial Freedom!
Once your application is approved based on your eligibility, you will receive your loan amount shortly.
FREQUENTLY ASKED QUESTIONS
A personal loan is an unsecured loan that you can get from a bank or financial organization to help you meet your financial obligations.
The dedicated repayment tenure will be between 12 months and 60 months
If you are a salaried employee, your salary slip and bank account statement will be accepted as proof of income. For self-employed individuals, however, tax returns of the last few years, bank statements, and financial statements might be required for a personal loan application.
No, you won’t have to pledge any collateral to get the Kotak Mahindra Bank Personal Loan.
The minimum ROI of a Kotak Bank Personal Loan is 10.75% per annum
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