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  • ING Vysya Personal Loan is Rated as "Great!" by 40 Users

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    Personal Loan BYTES FROM OUR KITCHEN
    rated 4.0/5.0 by 40 users

    ING Vysya Personal Loan

    Kotak Mahindra Bank has acquired ING Vysya to emerge as the 4th largest private sector bank in India. Henceforth, all the banking facilities owned by the erstwhile ING Vysya Bank will be an integral part of Kotak Mahindra, and the new combined entity will be known as the Kotak Mahindra Bank.


    Perfect Personal Loan Deals for you

    ING Vysya Bank is a privately owned Indian multinational bank based in Bangalore, with retail, wholesale, and private banking platforms formed from the 2002 purchase of an equity stake in Vysya Bank by the Dutch ING Group. As of March 2013, ING Vysya is the 17th largest private sector bank in India with assets total Rs. 54836 crore and operating a pan-India network of over 1,000 outlets, including 527 branches, which service over two million customers. ING Group, the highest-ranking institutional shareholder, currently holds a 44% equity stake in ING Vysya Bank. INY Vysya Bank offer loan like Home Loan, Personal Loan, Gold Loan, Loan against Property, Loan against Security. Personal Loan in INY Vysya Bank has key benefits like easy documentation, Speedy loan processing, No security.


    You’re probably eligible for an ING Vysya Bank Personal Loan if you are

    01
    02
    03
    04
    ING Vysya Bank Personal Loan Minimum Age

    At least 25 years old

    ING Vysya Bank Personal Loan Maximum Age

    Less than 60 years old

    ING Vysya Bank Personal Loan Eligible Employment Type

    Salaried / Self – Employed
    with regular income

    ING Vysya Bank Personal Loan Minimum Income

    Earn more than the minimum
    income required


    Your ING Vysya Bank Personal Loan amount eligibility is based on these factors

    01
    02
    03
    ING Vysya Bank Personal Loan Minimum Salary

    Minimum income required
    Rs. 30,000 per month

    ING Vysya Bank Personal Loan Maximum Loan Funded

    Maximum allowed personal loan is Rs. 15 lakhs

    ING Vysya Bank Personal Loan EMI

    EMIs of other loans lower
    your eligibility


    Increase your eligible ING Vysya Bank Personal Loan amount by these steps

    01
    02
    ING Vysya Bank Personal Loan Payoff Outstanding Credit Card Bills

    Pay off your credit card bills

    “ING

    Choose longer tenure loan up to 60 months


    Documentation needed to apply for an ING Vysya Bank Personal Loan

    • 1. Signed application form with photograph
    • 2.Copy of passport/voter ID card/driving license
    • 3. Processing fee cheque
    • 4. Last 3 months bank statement/6 months bank passbook
    • 5. Documentation for salaried applicants:
      • Latest salary slip
      • Current dated salary certificate with the latest Form 16
    • 6. Documentation for self-employed applicants:

      • Latest Bank statement
      • Latest ITR or Form 16

    ING Vysya Bank Personal Loan Interest RatesUpdated on 24 Nov 2017

    ING Vysya Bank Personal Loan Details
    Interest Rate (Monthly reducing balance) Interest for the month = Loan Outstanding*ROI%*(Number of days in a month/360)
    Processing Fees Rs. 1,000
    Loan Tenure 60 months
    Pre-closure Charges -
    Guarantor Requirement No guarantor required

    Apply for Personal Loan

    About ING Vysya (Kotak Mahindra) Bank Personal Loan

    In April 2015, ING Vysya merged into Kotak Mahindra after which the bank is known by the name of Kotak. All bank papers, cheque books, passbooks etc. are also now in the name of Kotak Mahindra. The combined entity has now come into existence while the complete merger of operations and integration of staff will happen over the next few months.

    ING Vysya was a private sector bank that was founded in the year 2002 as a merger between the ING group of Denmark and the local Vysya Bank from India. The bank has a huge customer base of over 2 million. ING Vysya bank got listed at the National Stock Exchange as well as the Bombay Stock Exchange. The bank ranked among the top 5 private banks of India in terms of the most trusted entity to bank with.

    ING on the other hand, is a Dutch banking institution which has global financial expertise in the products and services that it offers. ING Vysya, now Kotak Mahindra, offers financial capabilities in the domain of private banking, corporate banking and wholesale banking.

    Why choose Kotak Mahindra Personal Loan?

    Personal loans from Kotak Mahindra are one of the easiest to avail and flexible monetary options for urgent financial needs. These financial requirements can be of any nature, be it a wedding in the family. An urgent medical expense or children’s education. Kotak Mahindra offers personal finance for a host of personal needs. Here are some of the most prominent reasons why Kotak Mahindra personal loans are highly popular among customers.

    Flexible and high personal loan amount: Customers can avail loan amounts from a mere Rs.50,000 to Rs.15,00,000 through Kotak Mahindra personal loans. These are on-demand loans and furnish loan amounts as per customers’ personal loan requests.

    Attractive Rate of Interest: Interest rates charged on Kotak Mahindra personal loans are quite attractive as well as competitive. These rates are dependent upon a variety of variables like the type of collateral provided to bank, track record of the personal loan applicant, and amount of finance required and the annual income of the applicant.

    Easy Repayments: Various modes of repayment can be availed for paying off the Kotak Mahindra personal loan. This can be done via online banking or by visiting any of the bank branches. Also, standing instructions can be set which allows bank to auto-debit the installment amount each month from your account.

    Features of Kotak Mahindra Personal Loan

    Be it a long-pending family vacation or an urgent medical expense, Kotak Mahindra personal loans are the best financial instrument to help you sail smoothly through all the financial turbulence that you may face. Here are some of the most prominent features of personal loans by Kotak Mahindra bank.

    Quick Loan Processing: Rapid turn-around time is one of the most striking features of personal loans from Kotak Mahindra. Also, quick loan approval and bank doorstep service to get assistance on all aspects of personal loans is one ideal feature in today’s fast paced world where customers struggle to reach bank during working hours.

    Flexible Tenure: The loan repayment period is flexible and personal loans can be repaid in a maximum of 5 years. The personal loan tenure ranges between 12 months and 60 months. The EMI date is subject to the loan disbursal date of your Kotak Mahindra personal loan.

    Document’s required: Here is a list of documents that you need to be ready with if you are planning to avail a personal loan from Kotak Mahindra –

    • Complete Loan Application form
    • Any Identity proof out of Voter’s Card/ Passport/Aadhar Card/Photo Ration Card or any other ID proof
    • Proof of Residence like Gas bill, Passport etc.
    • Proof of Age - Driving License, Birth Certificate, PAN Card
    • Signature proof, PAN card, driving license, passport
    • Last 3 months salary slips and Form 16
    • Last 6 months bank account statements

    Kotak Mahindra Personal Loan Interest Rates

    Here is a table to depict all the basic charges that are applicable to personal loans, from the time the loan is disbursed to the time it is fully repaid.

    Loan ParameterValue of Parameter
    Interest rateAnywhere between 21% - 24% depending upon loan amount
    Loan processing charges2% of the disbursed loan amount + service tax
    PrepaymentYes
    Pre-payment charges5% + service tax on the outstanding principal amount, can be availed only after 12 months of personal loan disbursal
    Late Payment Fee3% of the overdue amount

    Kotak Mahindra Personal Loan Eligibility

    Following is the eligibility criteria that needs to be met by customers to avail Kotak Mahindra personal loan.

    • Applicant should be a resident of India employed at either a government organization or any other reputed company
    • Net monthly income should be at least Rs.25,000 for applicants
    • Minimum age of applicant needs to be 21 years
    • Maximum age of the applicant needs to be 58
    • Applicant should have spent minimum 1 year in the city of borrowing
    • Minimum educational qualification needed is graduation
    • Total work experience of applicant needs to be at least 2 years

    How to calculate EMI for Kotak Mahindra Bank Personal Loans

    Online personal loan EMI calculators are one of the most popular tools to know your personal loan EMI even before you have actually availed your loan. These online tools take as input your personal loan amount, the applicable interest rate, the corresponding processing fee and the loan tenure and process these inputs to yield the monthly installment schedule that you will be required to stick to in order to repay your personal loan with Kotak Mahindra bank.

    The best thing about these calculators is that they help in financial planning of an individual and also in helping customers decide which bank to choose for availing personal loan. Since, interest rates and processing charges may vary with different banks hence, it becomes easier for people to compare two or more lending entities when the subsequent change reflects in the EMI of different banks.

    Kotak Mahindra Personal Loan FAQs

    1. What is the maximum loan amount for Kotak Mahindra personal loans?

      The maximum amount that can be availed as personal loan by customers is Rs.15 lakhs. The maximum loan amount is however, dependent upon various other factors like annual income, job type and age too.

    2. Does BankBazaar.com charge a fee for using its Eligibility Calculator Tool?

      No. Bankbazaar.com does not charge a fee for using the online eligibility calculator.

    3. How do I get the Kotak Mahindra Personal Loan Application form?

      The application form can be availed by visiting any of the Kotak Mahindra branch or by visiting the bank’s website.

    4. Can I manage my personal loan account online?

      Yes. Kotak Mahindra personal loan account can be handled online. You can also choose to receive your loan statement online on the email id registered with the company.

    5. What are the pre-closure charges for Kotak Mahindra Personal loan?

      Pre-closure charges are 5% of the outstanding loan amount.

    6. Is there a processing fee for getting Kotak Mahindra personal loan sanctioned?

      A processing fee equal to 2% of the disbursed loan amount is applicable. In addition to this a service tax too is levied.

    7. Will I be able to track my online Kotak Mahindra personal loan application through BankBazaar.com?

      Yes. BankBazaar provides real-time tracking facility of loan applications, through SMS as well as e-mails.

    8. Does Kotak Mahindra charge a late payment fee for loan repayments?

      Yes. A late payment fee of 3% of the delayed payment is charged in case your EMI is delayed.

    9. Is my data safe with BankBazaar.com, in case I choose to apply for Kotak Mahindra Personal loan through this website?

      Yes. BankBazaar.com ensures high level of security via data encryption. The website is committed to not sharing your personal information with any third-party agents.

    10. Why should I apply for personal loan through BankBazaar.com?

      There are a lot of reasons that make BankBazaar.com your trusted banking partner.

      • Online eligibility and EMI checks
      • Customized quotes on personal loans
      • Most-competitive interest rates through BankBazaar.com partnership offers
      • Easy loan application process from the comfort of your house
    11. Does BankBazaar.com charge me a fee when I apply for Kotak Mahindra personal loan through their website?

      No. BankBazaar.com does not charge you any fee for using the website’s interface to apply for Kotak Mahindra Personal Loan.

    other Products from Ing Vysya Bank

    ING Vysya Personal Loan Reviews

    • ING Vysya Personal Loan
      "Average!!!"
      0.5 3.5/5 "Pretty good"
      I have availed personal loan with ING Vysa. They are good in terms of services but interest rate is much higher. There are pre closure charges. They were demanding for more number of documents. It would be fine if they reduce their documents and make the staff to understand what documents to be submitted. I was not given the statement, not told about the charges etc until we call them and ask for one. It would be nice if the improve in this.
      Was this review helpful? 2
      , new delhi
      Reviewed on Jul 24, 2015
    • ING Vysya Personal Loan
      "Good"
      0.5 3.0/5 "Satisfactory"
      My personal loan experience with ING Vysya is good and it took only 3 days for the loan to get disbursed. The best part about this bank is there is part payments and foreclosing facilities available with no extra charges. One thing which I donâ??t like is they have made insurance as mandatory and they had deducted the money without my knowledge.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jul 14, 2015
    • ING Vysya Personal Loan
      "Good "
      0.5 3.0/5 "Satisfactory"
      I was requiring for a loan amount of 3.5Lakh but they have offered me a personal loan of 3Lakh in ING Vysa Bank.The customer service provided was really good but the interest rate and charges collected was on the higher side which can be reduced.
      Was this review helpful? 1
      , chennai
      Reviewed on Jun 29, 2015
    • ING Vysya Personal Loan
      "Not at all satisfactory...."
      0.5 4.0/5 "Great!"
      INGVysya is bad in responsiveness and they are not like normal banks where they took twenty days to disburse the personal loan. Actually I was the one who following the executives to track the details. They were not transparent in sharing required documents where they collected the papers for several times. Otherwise I am satisfied.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 06, 2015
    • ING Vysya Personal Loan
      "Very good!!!"
      0.5 5.0/5 "Blown Away!"
      I took personal loan for the term period of five years but closed it earlier with pre closure charge. ING Vysya is sanctioning personal loan with good rate of interest. I did not like the condition of pre closure as the TAT is of six months with charge of 4.5% so suggesting ING Vysya to offer with nil percentage.
      Was this review helpful? 0
      , bangalore
      Reviewed on Apr 20, 2015
    • ING Vysya Personal Loan
      "Worst ING Personal Loan Service"
      0.5 0.5/5 "Unacceptable"
      ING Providing worst personal loan service, executives will not respect the customers, and the process will go as long as and will not receive the loan amount within the time. They will promise a lot but they will not fulfill. they don't understand the customer problems.
      Was this review helpful? 4
      , hyderabad
      Reviewed on Feb 16, 2015
    • ING Vysya Personal Loan
      "Happy that there is no pre closure charge!!!"
      0.5 5.0/5 "Blown Away!"
      No problem with ING Vysya bank and the interest rate is reasonable where it is only 13.5%. If we do compare with other banks the terms and conditions are flexible in this bank for personal loan. That is to say the interest rate is good and no pre closure charge and moreover we can part pay the loan. My account is with same bank so they waived pre closure completely.
      Was this review helpful? 2
      , bangalore
      Reviewed on Feb 03, 2015
    • ING Vysya Personal Loan
      "Wonderful!!!"
      0.5 4.0/5 "Great!"
      In a week time I got the approval of personal loan from ING Vysya bank. Interest rate is affordable and it is 14.25%. Top up loan can do it post six months. Like 2% was the processing charge and for some insurance they have deducted 1300. At the start there was some communication gap between me and the executive, as well the executive and the bank. For the reason of miscommunication there was a delay in process. The executive missed to get signature in the bond so I personally visited the branch of thirty kilometers to get things done.
      Was this review helpful? 2
      , hyderabad
      Reviewed on Jan 25, 2015
    • ING Vysya Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      The experience was good when I applied for a personal loan from ING Vysya. The process was short and they did not ask for any extra documents. The verification was done over phone and within a call they helped me to get the loan. I really liked the way they approved the loan was very good. The rate of interest was 16.5% which is reasonable compared to other banks. The processing fees was 2% which can be reduced.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 22, 2015
    • ING Vysya Personal Loan
      "Satisfied in overall!!"
      0.5 4.0/5 "Great!"
      Executive of ING Vysya helped me in collecting documents as they visited twice my place. Interest rate on personal loan is affordable as they offered 13.99% and this is best in comparing to current market. Processing charge they deducted around 5% but not very sure. They did not give quoted amount where there was a little deduction of .5%. I suggest ING Vysya to reduce the processing charge as other banks are giving personal loan with 0% processing fee else they can exclude the charge.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jan 20, 2015
    • ING Vysya Personal Loan
      "Great"
      0.5 4.0/5 "Great!"
      As per my requirement, I did get personal loan from ING VYSYA. Interest rate is quite the same among all the banks however processing charges was higher. If charges could had been reduced, it would be better.Overall happy.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 09, 2015
    • ING Vysya Personal Loan
      "Satisfactory"
      0.5 4.0/5 "Great!"
      Response time is the best part in ING VYSYA in disbursing personal loan. At times, there was communication gap from customer service team. However, the interest rate is quite nominal whereas the processing charges are so higher.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Dec 22, 2014
    • ING Vysya Personal Loan
      "Speedy approval"
      0.5 4.0/5 "Great!"
      ING VYSYA bank had considered my personal loan request and had approved the loan amount as per my requirements. I liked the speedy approval and also the disbursal was at the right point of time. Am pretty much ok with interest rates.
      Was this review helpful? 0
      , chennai
      Reviewed on Dec 16, 2014
    • ING Vysya Personal Loan
      "Outstanding "
      0.5 5.0/5 "Blown Away!"
      It was very good experience when I applied for a personal loan in ING Vysya through a different channel it was really good. It was really good and they keep updating with all the details on time. They also provided me with all the alternate options and suggestions to avail the loan as per my requirement. The rate of interest was fine and the processing fees was 2% which was reasonable.
      Was this review helpful? 0
      , greater noida
      Reviewed on Dec 10, 2014
    • ING Vysya Personal Loan
      "Good"
      0.5 4.0/5 "Great!"
      Instant response I got from ING Vysya bank on my personal loan request so it is appreciable. Including stamp duty charges, the deducting processing fee is around 5,000 and interest rate is 14.25%. I got physical loan agreement copy on time. Service is recommendable so I like to recommend ING Vysya. ING Vysya is best in performance so donâ??t have suggestion at present.
      Was this review helpful? 0
      , bangalore
      Reviewed on Dec 09, 2014
    • ING Vysya Personal Loan
      "Satisfactory"
      0.5 5.0/5 "Blown Away!"
      I was very muych satisfied by the service from ING vysya bank when I applied for my personal loan . They responded very promptly and updated all the relavant information. Rate of interest was quite affordable when compared with other banks. Overall good.
      Was this review helpful? 1
      , new delhi
      Reviewed on Nov 28, 2014
    • ING Vysya Personal Loan
      "Approach was good"
      0.5 3.5/5 "Pretty good"
      I chose ING VYSYA for availing personal loan as the approach of the customer service team was too good. Processing was extremely easier and faster. I got a very lesser interest rate around 13.6% and its attractive too. Processing fees was around 1000 which was competitive.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Nov 27, 2014
    • ING Vysya Personal Loan
      "Best"
      0.5 3.0/5 "Satisfactory"
      I have approached ING VYSYA Bank for the personal loan, my application has been declined stating that, I have got some outstanding dues against my credit card, I have been informed that, as a result my credit score has been affected badly. However, Customer service offered by them was really good and the rate of interest and processing fee is quite nominal.
      Was this review helpful? 1
      , chennai
      Reviewed on Nov 24, 2014
    • ING Vysya Personal Loan
      "Excellent and amazing"
      0.5 5.0/5 "Blown Away!"
      Almost all the banks providing the same process of personal loan . No much differences in them. When I applied for personal loan ING vysya bank called me and updated all the information. I had some outstanding in my credit card hence they asked me to clear to get the disbursal. They offered me 14% as the interest rate where I was very comfortable with it
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 21, 2014
    • ING Vysya Personal Loan
      "Fine service"
      0.5 3.5/5 "Pretty good"
      I took this personal loan from ing vysya bank before 8 months. It would be nice if they try to reduce the interest rate as its high when compared with nationalized banks. They offered me 16.25% as interest rate and processed loan within 4-5 days of time. Since I had an requirement at that time I had no choice but to avail the loan. It was taking too long time to reach their customer care in toll free. Their helping attitude was little less.
      Was this review helpful? 2
      , new delhi
      Reviewed on Nov 16, 2014
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