Table of Contents

Kotak Mahindra Bank Personal Loan Highlights What are the Types of Kotak Bank Personal Loan?Kotak Bank Personal Loan Processing Charges How to Calculate Kotak Mahindra Personal Loan EMI?Kotak Bank Personal Loan Eligibility Criteria Documents Required for Personal Loan in Kotak Bank How to Apply for a Personal Loan in Kotak Bank?How to Check Kotak Bank Personal Loan Status Online?How to Download Kotak Personal Loan Statement Online?Kotak Bank vs Other Banks Interest Rates (2025 Rates)Kotak Personal Loan Customer Care Number & Contact Details Kotak Personal Loan vs. NoBroker Cash Loan - Which is Better?Get Instant Cash with NoBroker InstaCash Frequently Asked Questions?

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Home Blog Cash Loan Kotak Personal Loan Interest Rate

Kotak Personal Loan Interest Rate: Types, Eligibility and Documentation in 2025

Published : October 3, 2025, 3:20 PM

Updated : October 3, 2025, 3:20 PM

Author : kruthi

Cash Loan

Personal Loan

1632 views

Summary

Kotak Mahindra Bank personal loans start at 10.99% per annum, with amounts ranging from ₹50,000 to ₹35 Lakh and flexible tenures of 12 to 72 months. Ideal for weddings, home renovation, or debt consolidation, these loans offer instant approvals for salaried borrowers through a seamless digital process. Features include transparent charges, customizable PayDay loan options, and flexible repayment choices. With trusted banking support and tailored financial products, Kotak ensures affordable, quick, and reliable solutions to meet diverse personal needs.

Table of Contents

Kotak Mahindra Bank offers personal loans with interest rates starting at 10.99% per annum and flexible repayment terms of up to six years. Designed for both salaried and self-employed professionals, these loans are commonly used for debt consolidation, weddings, home renovation, or other personal needs. With a fully digital application process, quick approvals, and reliable customer support, Kotak ensures borrowers get affordable and convenient financial solutions tailored to modern lifestyles and urgent funding requirements.

Kotak Mahindra Bank Personal Loan Highlights

This table provides a consolidated overview of the key features and terms associated with a Kotak personal loan, offering a quick reference for prospective borrowers.

Feature	Details
Loan Amount	₹50,000 to ₹35 Lakh [1]
Interest Rate Range	10.99% p.a. onwards [2]
Tenure	12 to 72 months (1 to 6 years) [1]
Processing Fee	Up to 5% of the loan amount + applicable taxes [2]
Prepayment Charges	4% of the outstanding principal + taxes (No charges after 12 months for select loans) [2]
Approval Time	Instant for pre-approved customers; typically within a few hours for others

What are the Types of Kotak Bank Personal Loan?

Kotak Mahindra Bank offers a variety of personal loan products, each tailored to address specific financial needs and customer profiles. [3]

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Loan Type	Loan Amount	Interest Rates (p.a.)	Tenure	Processing Fees	Approval Time
General Purpose Loan (for Marriage, Travel, Medical, etc.)	₹50,000 to ₹35 Lakh	From 10.99% onwards	1 to 6 years	Up to 3% + taxes	Standard
Top-up Loan	Varies based on existing loan	Based on existing loan terms	Flexible	As per bank policy	Quick for existing customers
Loan for Government Employees	₹50,000 to ₹35 Lakh	Competitive rates from 10.99%	1 to 6 years	As per bank policy	Quick
Overdraft Loan	₹1 Lakh to ₹20 Lakh	Varies; charged only on utilised amount	Up to 6 years	As per bank policy	Quick for eligible customers
Small Ticket / Urgent Loan	From ₹50,000	From 10.99% onwards	1 to 5 years	Starts from ₹150 + taxes	Instant / Very Fast

Kotak Bank Personal Loan Processing Charges

To understand the total cost of borrowing, it is important to be aware of the various fees associated with a Kotak Mahindra Bank personal loan. These charges are applicable in addition to the interest rate.[2]

Charge Type	Amount / Rate
Processing Fee	Up to 5% of the sanctioned loan amount + applicable taxes.
Prepayment Charges	4% of the outstanding principal + taxes (No charges after 12 months for select loans)
Foreclosure Charges	4% of the principal outstanding + taxes. Often NIL after the lock-in period for certain loans.
Late Payment Penalty	Typically 8% p.a. on the overdue EMI amount.
EMI Bounce Charges	₹750 per instance + applicable taxes.
Loan Cancellation Charges	₹1,000 + taxes (if cancelled after the cooling-off period).
Stamp Duty	As per the actuals applicable in the respective state.

How to Calculate Kotak Mahindra Personal Loan EMI?

Calculating your Equated Monthly Instalment (EMI) is a crucial step in financial planning. Using a Kotak Mahindra personal loan interest rate calculator (note: this is a generic term for an EMI calculator) helps determine your monthly payment obligation accurately. [4]

The standard mathematical formula for EMI calculation is:
EMI = [P x R x (1+R)^N] / [(1+R)^N-1] Where:
- P is the Principal loan amount.
- R is the monthly rate of interest (annual rate divided by 12).
- N is the number of monthly instalments (tenure in months).
Example: For a loan of ₹5 lakh at an 11% annual interest rate for a tenure of 5 years (60 months):
- The calculated EMI would be approximately ₹10,871.

Kotak Bank Personal Loan Eligibility Criteria

To successfully apply for a loan, applicants must meet the specific Kotak Mahindra Bank personal loan eligibility criteria set by the bank. [5]

For Salaried Individuals

Age: 21 to 60 years.
Citizenship: Must be a resident of India.
Monthly Income: Minimum net monthly income varies by customer relationship:
- For Kotak Salary Account holders: ₹25,000
- For non-Kotak Salary Account holders: ₹30,000
Educational Qualification: Must be a graduate.
Work Experience: Minimum of one year of continuous employment.
Credit Score: A CIBIL score of 750 or above is highly recommended.

For Self-Employed Individuals:

Kotak Mahindra Bank primarily offers personal loans to salaried individuals. Self-employed professionals and business owners may be offered other forms of financing, such as business loans, based on their profile and business vintage. It is advisable to contact the bank directly for specific products available for self-employed applicants.

Documents Required for Personal Loan in Kotak Bank

A standard set of documents is required to process your personal loan application. Having these documents ready can significantly expedite the approval and disbursal process. [6]

The primary documents required are:
- ID/Address proof, such as a PAN Card, Aadhaar Card, Passport, Voter ID, or utility bill.
- Latest 3 months' salary slips and bank statements for the last 3-6 months showing salary credits.
- An employee ID card or an appointment letter may be required.
- Recent passport-sized photographs.

How to Apply for a Personal Loan in Kotak Bank?

The process for Kotak Mahindra Bank personal loan online is designed to be user-friendly, digital, and convenient, allowing for a quick application from your home or office. [7]

Step 1: Navigate to the personal loan section on the Kotak Mahindra Bank website.
Step 2: Enter your personal, contact, and employment details. Specify your desired loan amount and tenure.
Step 3: Based on your initial details, the bank may provide an instant in-principle loan offer.
Step 4: Complete your KYC verification (often via Video KYC) and upload scanned copies of the required documents.
Step 5: Upon successful verification and final approval of your loan agreement, the loan amount will be disbursed directly to your bank account.

How to Check Kotak Bank Personal Loan Status Online?

After applying, you can easily track the progress of your application. The Kotak Mahindra personal loan application status can be checked through the bank's digital channels.

Step 1: Navigate to the loan application tracking section on the bank's official website.
Step 2: You will typically need to enter your application reference number and your registered mobile number to proceed.
Step 3: The portal will display the current status of your application, whether it is being processed, approved, or requires additional information. You can check the Kotak personal loan status with your mobile number for convenience.

How to Download Kotak Personal Loan Statement Online?

Accessing your loan statement is a simple process with the bank's digital services. A Kotak personal loan statement helps you keep a detailed record of your repayments.

Step 1: Access your Kotak Bank account using your CRN and password on the website or through the Kotak 811 mobile app.
Step 2: Find the "Loans" or "Account Summary" section and select your active personal loan.
Step 3: Choose the option to view or download your loan statement and select the desired time period.
Step 4: The loan statement will be generated, usually in a password-protected PDF format, for you to save or print.

Kotak Bank vs Other Banks Interest Rates (2025 Rates)

When considering a personal loan, it is prudent to compare the personal loan interest rate in Kotak Mahindra Bank with that of other leading lenders in the market.

Bank / NBFC	Personal Loan Interest Rate (p.a.)	Unique Selling Proposition (USP)
Kotak Mahindra Bank	10.99% onwards	Quick digital processing, attractive pre-approved offers, and tailored loan products like PayDay loans.
HDFC Bank	10.50% onwards [8]	Wide branch network and quick disbursal for existing customers.
ICICI Bank	10.60% onwards [9]	Flexible loan products and a strong digital platform.
Axis Bank	9.99% onwards [10]	Competitive rates and flexible tenure options.
Aditya Birla Capital	10.99% onwards [11]	Fast digital processing and loan tenures of up to 7 years.

Kotak Personal Loan Customer Care Number & Contact Details

For any queries or assistance, Kotak Personal Loan customer care can be reached through multiple channels.

Customer Care Number: Customers can call the primary Kotak Mahindra Bank personal loan contact number at 1860 266 2666.
SMS Service: For a callback, existing customers can SMS 'KPRIVY' to 5676788.
Online Chatbot: The Kotak website features a chatbot named 'Keya' for instant query resolution.
Branch Visit: You can visit any Kotak Mahindra Bank branch for in-person assistance with your personal loan queries.

Kotak Personal Loan vs. NoBroker Cash Loan - Which is Better?

When evaluating borrowing options, it is beneficial to compare a traditional Kotak Mahindra Bank personal loan with modern fintech alternatives, such as NoBroker InstaCash.

Feature	Kotak Personal Loan	NoBroker InstaCash
Approval Time	Instant to a few days	Instant (within minutes)
Loan Amount	Up to ₹40 Lakh	Up to ₹10 Lakh
Eligibility	Based on salary, CIBIL score, and employment history.	Primarily based on consistent monthly rent payments.
Documentation	Requires income proof, bank statements, KYC.	Minimal; primarily requires a rental agreement and basic KYC.

Get Instant Cash with NoBroker InstaCash

Urgent financial demands don’t always align with the time-consuming approvals of traditional lending. Instead of waiting for processes tied to Kotak's personal loan interest rate, NoBroker InstaCash provides a faster, digital-first option. Tenants can unlock instant funds up to ₹10 lakh, linked directly to their rental payments, with minimal documentation required. This makes it an efficient way to handle emergencies, short-term expenses, or unplanned commitments. By offering speed, simplicity, and convenience, InstaCash is often a more practical alternative than depending solely on personal loans.

Frequently Asked Questions?

Q1. What is the Kotak personal loan interest rate in 2025?

Ans. The Kotak Mahindra Bank personal loan interest rate starts from 10.99% per annum. The final rate offered depends on the applicant's credit score, income, and relationship with the bank.

Q2. What CIBIL score is required for a Kotak personal loan?

Ans. Kotak Mahindra Bank generally prefers a CIBIL score of 750 or above to approve a personal loan and offer the most competitive interest rates.

Q3. How to check Kotak personal loan status?

Ans. You can check the Kotak Mahindra personal loan status by visiting the bank's official website and using the 'Track Application' feature with your application number and mobile number.

Q4. How can I download a Kotak personal loan statement?

Ans. You can easily download your loan statement by logging into your Kotak Bank internet banking account or the mobile app and navigating to the loans section.

Q5. How long does Kotak take to process a personal loan?

Ans. The processing time is speedy. A kotak pre-approved personal loan can be disbursed in as little as 3 seconds. For other customers, it may take a few hours to a couple of days.

Q6. What are the Kotak personal loan foreclosure charges?

Ans. The foreclosure charges are typically 5% of the outstanding principal plus taxes. However, for many loans, these charges are waived after 12 EMIs have been paid.

Q7. How to close a Kotak personal loan?

Ans. To close your loan, you need to visit a Kotak Bank branch, request a foreclosure statement, pay the outstanding amount via cheque or draft, and collect the No Objection Certificate (NOC).

Q8. Can I get a top-up on my Kotak personal loan?

Ans. Yes, Kotak Bank offers a Kotak personal loan top-up facility to existing customers with a good repayment track record, allowing them to borrow additional funds.

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kruthi,Author

Kruthi is a Chartered Accountant has worked for various Real Estate firms across India, she is well versed with the legal and financial aspects of all real estate transactions. There are numerous documents and plenty of hidden fees that people get lost in, her goal is to shed some light on it all.

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