Kotak Bank personal loan interest rates start at 10.99%* per annum, with repayment tenures of up to six years and the exact rate depending on the applicant’s profile. The loans are available to salaried and self-employed professionals, and can be used for purposes such as weddings, travel, home renovation, medical emergencies and more. The application can be submitted both online and offline, with the steps to apply explained below.
Kotak Personal Loan Interest Rate 2026
The rate you receive can depend on your income, loan amount, repayment history and credit profile, with rates starting at 10.99% p.a.*:
| Factors | Details |
|---|
| Interest rate | Starting from 10.99% p.a. |
| Loan amount | Up to ₹1 crore |
| Loan tenure | Up to 6 years |
| Interest rate offered | Depends on the applicant's profile |
| Rate applicable to | Approved loan amount and tenure |
Note: The Kotak Bank personal loan interest rates mentioned above are as of August 2026 and are subject to change. The rate offered might vary.
Kotak Personal Loan EMI
The EMI for a Kotak personal loan depends on the loan amount, interest rate and repayment tenure. Your monthly EMI for a Kotak Bank personal loan can be calculated using this standard EMI formula:
EMI = [P × r × (1 + r)ⁿ] / [(1 + r)ⁿ − 1]
Where:
P = Principal loan amount
r = Monthly interest rate in decimal form (annual rate ÷ 12 ÷ 100)
n = Total number of monthly instalments
Kotak Personal Loan EMI Table
The table below shows the estimated monthly EMI for a ₹1 lakh loan across different repayment tenures of up to 6 years taken with Kotak Mahindra Bank and calculated at an interest rate of 10.99% p.a.
| Loan Amount | Interest Rate per annum | Tenure | Approximate EMI | Total Interest Payable | Total Amount Payable |
|---|
| ₹1 lakh | 10.99% p.a. | 1 year | ₹8,837.70 | ₹6,052.39 | ₹106,052.39 |
| ₹1 lakh | 10.99% p.a. | 2 years | ₹4,660.32 | ₹11,847.67 | ₹111,847.67 |
| ₹1 lakh | 10.99% p.a. | 3 years | ₹3,273.40 | ₹17,842.33 | ₹117,842.33 |
| ₹1 lakh | 10.99% p.a. | 4 years | ₹2,584.07 | ₹24,035.20 | ₹124,035.20 |
| ₹1 lakh | 10.99% p.a. | 5 years | ₹2,173.74 | ₹30,424.62 | ₹130,424.62 |
| ₹1 lakh | 10.99% p.a. | 6 years | ₹1,902.90 | ₹37,008.49 | ₹137,008.49 |
Note: The EMI values in the table are calculated using the standard EMI formula with the above-mentioned interest rate and rounded to the nearest rupee. Actual EMIs will vary based on the interest rate, loan amount, tenure and other terms offered by the bank.
Kotak 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. The criteria for loan eligibility are as follows:
For Salaried Professionals:
- Age: 21 to 60 years.
- Citizenship: Must be a resident of India.
- Monthly Income:
- For Kotak Salary Account holders: ₹25,000
- For non-Kotak Salary Account holders: ₹30,000
- Educational Qualification: Must be a graduate or diploma holder
- Work Experience: Minimum of one year of employment
- Credit Score: A CIBIL score of 750 or above is highly recommended.
For Self-Employed Individuals:
Kotak Mahindra Bank offers personal loan products to both eligible self-employed and non-salaried applicants. However, the bank does not specify the same detailed eligibility criteria for self-employed applicants on its website. Contact Kotak Mahindra Bank directly to confirm the eligibility requirements and documents applicable to your profile.
Kotak Mahindra Personal Loan Documents Required
A standard set of documents is required to process your personal loan application for Kotak Bank. Make sure to have these documents ready to speed up your approval and disbursal process:
- ID/Address proof, such as an Aadhaar Card, Passport, Voter ID, or driving license
- Latest 3 months' salary slips and bank statements for the last 3-6 months showing salary credits
- 2-3 recent passport-sized photographs.
Kotak Personal Loan Fees and Charges
Kotak Bank charges various fees for processing and managing a personal loan. These charges listed above are based on the information available as of August 2026 and may change. Check the latest schedule of charges and your loan agreement before applying:
| Charge Type | Applicable Charges |
|---|
| Processing fee | Up to 5% of the final loan amount + applicable taxes |
| Stamp duty | As per the applicable state stamp act |
| Foreclosure or part-payment charges | 4% + taxes of the outstanding principal/part-payment amount for up to 3 years; 2% + taxes after 3 years |
| Part-payment limit | Up to 20% of the outstanding principal loan |
| EMI bounce charges | ₹750 per instance |
| Penal charges on overdue amount | 8% p.a. + applicable taxes on the overdue amount |
| Repayment mode swap charges | ₹500 + taxes per instance |
| Physical statement charges | Free once a year; ₹200 + taxes for subsequent requests |
| Legal charges | At actuals |
Note: The processing fee is non-refundable and is deducted from the loan amount at the time of disbursal. The charges are subject to revision by Kotak Mahindra Bank. GST and other applicable taxes are charged separately wherever applicable. Check the latest fee schedule and your loan agreement for the charges applicable to your loan
Types of Kotak Bank Personal Loans
Kotak Mahindra Bank offers varied types of personal loans that can be used for different financial needs. The types of personal loans offered by the bank are as follows:
| Loan Type | Loan Amount | Loan Tenure | Interest Rate Per Annum |
|---|
| Personal Loan for Marriage | Up to ₹35 lakh | Up to 6 years | Starts from 10.99% p.a. |
| Personal Loan for Travel | Up to ₹35 lakh | Up to 6 years | - |
| Personal Loan for Medical Emergency | Up to ₹35 lakh | Up to 6 years | Starts from 10.99% p.a. |
| Personal Loan for Home Renovation | Up to ₹35 lakh | Up to 6 years | Starts from 10.99% p.a. |
Factors That Affect Kotak Personal Loan Interest Rates
A number of factors come into play in deciding the Kotak Bank personal loan interest rates. These factors include:
- Credit score. A credit score of 750 and above is considered more favourable for securing lower interest rates and improving chances of loan approval.
- Income profile. A high income-to-debt ratio is considered favourable for loans
- The employer and your nature of employment are considered when assessing the loan application
- Existing relationship with the bank.
How to Apply for a Kotak Personal Loan
You can apply for a Kotak Mahindra Bank personal loan online by completing the application form and submitting the required documents in person at your nearest Kotak Bank branch or digitally through their website. The process for a Kotak Bank personal loan application is:
- Step 1: Go to the personal loan section on the Kotak Mahindra Bank website and start your application.
- Step 2: Provide your personal, contact and employment details, along with the loan amount and repayment tenure as requested by the bank.
- Step 3: Based on the details entered, you will then get a loan offer indicating the amount, interest rate and terms for the loan.
- Step 4: Complete the required KYC verification and upload or submit the documents requested by the bank.
- Step 5: Once your application and documents are verified and the loan is approved, the sanctioned amount will then be disbursed to your bank account.
Kotak Personal Loan Customer Care Number & Contact Details
For any queries or assistance with the application, Kotak Personal Loan customer care can be reached through multiple channels.
- Customer Care Number: Call 1800 4100 for Personal, Payday and Home Loans, available 9:00 AM to 8:00 PM, Monday to Saturday, excluding bank holidays.
- SMS Service: You can SMS PLTOPUP to 5676788 for a personal-loan top-up, PLBT to 5676788 for personal-loan balance transfer and CRN to 5676788 or 9971056767 from the registered mobile number to retrieve the Customer Relationship Number 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.
How NoBroker InstaCash Can Help?
If you're considering applying for a personal loan but don’t know where to start, NoBroker InstaCash can help. NoBroker InstaCash lets eligible borrowers explore loan options and apply through a digital process. Here’s how we help:
- Flexible loan amounts of up to ₹10,00,000
- Interest rates starting from 12.99% p.a.*
- Flexible repayment tenure of up to 6 years
- 100% digital application
- Quick access to funds, subject to verification and approval.
Disclaimer: NB InstaCash is a loan facilitation service offered through NoBroker. The actual loan is extended by third-party lending partners, and NoBroker is not the lender. Read our Privacy Policy.
Frequently Asked Questions
Q. Can I get a Kotak Personal Loan without a salary account? Ans: Yes, you can get a personal loan with Kotak Bank even if you do not have a salary account with them. However, the loan amount, interest rate, and loan terms will depend on your income and other factors.
Q. Can I prepay my Kotak Personal Loan? Ans: Yes, you can prepay your Kotak Mahindra Bank Personal Loan, either partially or fully, with a limit of up to 20% of the outstanding principal amount once per financial year.
Q. What factors affect the interest rate offered on a Kotak Personal Loan? Ans: Factors like your credit profile, income, employment details, loan amount, tenure and existing relationship with the bank have an effect on the interest rate offered by Kotak Bank.
Q. Is a CIBIL score of 750 mandatory for a Kotak Personal Loan? Ans: While having a CIBIL score of 750 or more can increase your chances of loan approval and help secure low interest rates, it is not mandatory for a Kotak Bank personal loan.
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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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