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    We found 1 Kotak Personal Loan Eligibility Calculator
    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    10.99% - 17.99% Fixed
    Up to 2.5%
    15L Max
    1-5 years
    Response Time : Within 30 minutes
    Rs.1,000 Amazon voucher free
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    Kotak Personal Loan Eligibility Calculator is Rated as "Pretty good" by 2340 Users

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    Kotak Personal Loan Eligibility Calculator

    About Kotak Mahindra Bank Personal Loan

    Kotak Mahindra Bank was incepted in the year 1985. It offers personal loan to help an individual financially. An individual can avail personal loan to meet the unexpected expenses arising due to some medical emergency, to have a dream vacation, to pay your college fees, for meeting your wedding expenses, to re-decorate to home or to buy consumer durables.

    Kotak Mahindra Bank Personal Loan Eligibility for Salaried and Self-employed Applicants

    Particulars Salaried Self-employed
    Age (Min-Max) 21 to 58 years 21 to 58 years
    Income Rs.25,000 per month (minimum) -
    Guarantor Not required Not required
    CIBIL Score 750 and above 750 and above
    Minimum Loan Amount Rs.50,000 Rs.50,000
    Maximum Loan Amount Rs.15 lakhs Rs.15 lakhs
    Minimum Loan Tenure 1 year 1 year
    Maximum Loan Tenure 5 years 5 years
    Interest Rate 11.5% to 24% 11.5% to 24%
    Processing Fee Up to 2% + Tax Up to 2% + Tax
    Prepayment Charge After 12 EMIs, 5% of principal outstanding + Service Tax After 12 EMIs, 5% of principal outstanding + Service Tax
    Apply for Personal Loan

    Factors affecting Kotak Mahindra Bank Personal Loan Eligibility

    There are many factors that affect the applicant's’ eligibility. Bank prefer to give loans to those who are capable of repaying the loan and who do not default on making the payments. Some factors that affect an applicant’s personal loan eligibility are:

    • Residence: The personal loans are easily sanctioned to those living in metro cities. The preference is also given to those who have their own home than compared to those living in a rented flat. As those who have their own home will not have an additional financial burden of paying the rent. He will also have a higher disposable income.
    • Income: The level of income indicates how much you are capable of repaying the loans and paying the EMIs on time. This affects the total loan amount that will be sanctioned to you. If your income is higher, the chances of you getting a bigger amount loan is higher.
    • Age:The age of the applicant is another factor that the bank will consider before offering you a loan. If you are too young, the banks will be hesitant to give you a loan as there is a higher chance of the applicant shifting the job.
    • Type of employment: The self- employed stand a lower chance of getting a loan than compared to salaried individual and salaried professionals. Self-employed have inconsistent income when compared to salaried individuals.
    • Employment status: An applicant who has stayed in a company for a longer period will get higher preference. It shows stability of income flow and the bank can be assured that the applicant is having constant cash flow to pay for the EMIs.

    How CIBIL score affects your Kotak Mahindra Bank Personal Loan Eligibility?

    When an applicant applies for a loan with Kotak Mahindra Bank, the bank runs a credit check on the applicant and reviews his credit report. If the CIBIL Score is above 750, the bank will further consider your application and go through your credit report. The bank will take into consideration the loans that you have taken previously and closed. The bank will check the credit payment history to check how efficiently you have repaid the loan. It also considers the types of loans that the applicant has taken and checks if he has a good mix of both secured and unsecured loans.

    If you have agreed to settle for a loan due to certain financial constraints, then it gets recorded in the credit report and stays in the report for 6 years. The settlement of the loan is considered as a negative remark and hence the Kotak Mahindra Bank might not offer you a personal loan as they might be unsure about your capacity to repay the loan.

    How to increase Kotak Mahindra Bank Personal Loan Eligibility?

    You can do the following to increase Kotak Mahindra Bank personal loan eligibility :

    • Maintain a good credit history: Be sure to pay all your previous EMIs on time and that you do not miss out on any deadlines. Find ways to increase your CIBIL score and don’t let the banks offer you any settlement on loans.
    • Get lower EMIs on existing loans: If you are able to refinance your existing loan for a lower interest rate or extend the tenure of the existing loan, you can reduce the EMIs each month and ensure that you do not miss out on payments and it becomes affordable to you pay the EMIs on time.
    • Prepayment: If you have lesser EMIs left on any loan, then prepay them and close the loan. The applicant will then have a higher disposable income to show to the bank and hence the chances of the applicant getting the loan is higher.
    • Have both secured and unsecured loans: Have a mix of both the types of loan. The secured loans are favourably looked at and it shows the bank that you do have managed to attain some assets over the period of time and not just built credit.
    • Don’t apply for too many loans: If you are in need of a loan, then do not go around applying at all banks and wait to get lucky. All the banks will run a credit check and it gets recorded in your credit report. This will also look bad on your report and affects your credit score.
    • Don’t have too many credit cards: Having too many credit cards is also unfavourable. Though you may not have used the credit on all of the cards, it considerably lowers your overall credit limit.

    FAQs on Kotak Mahindra Bank Personal Loan Eligibility

    Q. What are the age limits required for a salaried individual to take a Kotak Mahindra Bank personal loan?

    A. At the time of taking the loan the minimum age requirement is 21 years and at the maximum age is 58 years.

    Q. Is there a minimum income requirement for a salaried applicant?

    A. Yes, the applicant's net monthly salary must be a minimum of Rs.25,000.

    Q. Is there a minimum educational qualification required to avail the personal loan from Kotak Mahindra Bank?

    A. Yes, the applicant must be a graduate.

    Q. What is the work experience that is required for a salaried individual who wish to avail the personal loan from Kotak Mahindra Bank?

    A. The applicant must have minimum 2 years of work experience.

    Q. What is the minimum and maximum loan sanctioned by Kotak Mahindra Bank?

    A. The minimum amount sanctioned towards personal loan is Rs.50,000 and the maximum amount is Rs.15 lakhs.

    Important Personal Loan Related Pages

    Personal Loan Reviews

    • Kotak Personal Loan
      "Good"
      0.5 4.0/5 "Great!"
      My personal loan was taken with KOTAK bank . The tenure period was 5 years and the loan amount was 1.5 lakhs . The rate of interest was between 10-11% which was satisfactory . The customer service and responses was up to the mark. The loan was approved on time and the process fee was also reasonable.
      Was this review helpful? 2
      , mumbai
      Reviewed on Dec 09, 2017
    • Kotak Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I have my personal loan with KOTAK bank . I have taken 1 lakh and the interest rate was 12.5% which was avergae in the market . The tenure period was 4 years and the processing fee was bit high here but they have sanctioned the loan with the committed time.
      Was this review helpful? 1
      , faridabad
      Reviewed on Dec 09, 2017
    • Kotak Personal Loan
      "Approchable for personal loan"
      0.5 2.0/5 "Expected more"
      I have taken a personal loan from Kotak Mahindra . The approved loan amount is 1.2 lakhs. The monthly EMI is 6000 for 24 months. The approved rate of interest is 10.99%. The communication with the bank is good. The documentation process was too much.
      Was this review helpful? 2
      , bangalore
      Reviewed on Dec 09, 2017
    • Kotak Personal Loan
      "Best Bank for loan"
      0.5 5.0/5 "Blown Away!"
      My personal loan was taken with Kotak Bank. It is a pre approval loan without any documentation and no verification. The disbursement was happened in one minute. I didn't even to pay the processing fee earlier. It was a great experience with Kotak Bank. The charges and interest rate is also normal.
      Was this review helpful? 1
      , kolkata
      Reviewed on Dec 09, 2017
    • Kotak Personal Loan
      "Needs to improve on ROI"
      0.5 4.5/5 "Excellent!"
      My personal experience was very good with Kotak Mahindra Bank, the process was quite long, it took 20-25 days for the loan amount to get approved, there was some issue with the signature on the documents so it was delayed. When it comes to customer service, it was good and they responded on time, documents were collected door step. The tenure of this loan is 3 years and the rate of interest of 14.5% is high when compared to all other banks.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Dec 08, 2017
    • Kotak Personal Loan
      "Better service"
      0.5 4.0/5 "Great!"
      I have applied for the personal loan from Kotak Mahindra Bank, my loan application was approved and the requested amount was disbursed. The process was smooth, it took 12-13 days for the loan amount to get approved. Rate of interest is 10.99% which is nominal when compared to other banks. Customer service from KMB was good and they responded on time, documents were collected door step.
      Was this review helpful? 0
      , kolkata
      Reviewed on Dec 08, 2017
    • Kotak Personal Loan
      "Better service"
      0.5 4.0/5 "Great!"
      The personal loan service was good with Kotak mahindra bank and they took 10days to disburse my loan amount. The rate of interest is average and I am satisfied with it. The required loan amount has been given and I happy with it. The customer support is prompt with Kotak mahindra bank.
      Was this review helpful? 0
      , bangalore
      Reviewed on Dec 08, 2017
    • Kotak Personal Loan
      "Good"
      0.5 4.0/5 "Great!"
      I have taken why personal loan with KOTAK bank which was a very convenient and hassle free process. The loan amount was 2 lakhs and the rate of interest was 12% which was avergae in the market . The EMI period was 3 years .They have provided door step service for collecting document and the processing fee was 3000.
      Was this review helpful? 0
      , ghaziabad
      Reviewed on Dec 08, 2017
    • Kotak Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      It was a good personal loan experience with Kotak Mahindra Bank, i am happy with the services which they provided me. Customer service was good and they responded on time, they provided door step service to collect the documents. The process was very smooth, it took 10 days for the loan amount to get approved. There is a penalty of 5% on pre closure and part payment. The rate of interest of 14.29 is high when compared to other banks.
      Was this review helpful? 1
      , new delhi
      Reviewed on Dec 07, 2017
    • Kotak Personal Loan
      "Good service"
      0.5 3.5/5 "Pretty good"
      My personal loan application was approved with Kotak Mahindra Bank and the experience was quite good. It took 10 days for the loan amount to get approved. The process was smooth, customer service was good and they provided door step service to collect the documents. The rate of interest was high when compared to all other banks.
      Was this review helpful? 0
      , kolkata
      Reviewed on Dec 07, 2017
    • Kotak Personal Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      The Kotak mahindra bank took long time to give response and there was lack of communication among their own executives. The customer support was not up to the mark with the Kotak mahindra bank. The required loan amount has been given and I am satisfied with it. The rate of interest and the charges are average with the Kotak mahindra.
      Was this review helpful? 0
      , new delhi
      Reviewed on Dec 07, 2017
    • Kotak Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      The Kotak mahindra bank personal loan process need to be improved . They took longer than higher because they took a week time to disburse the loan amount after the documentation process. The rate of interest is less when compared with other banks.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Dec 07, 2017
    • Kotak Personal Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I have taken a personal loan with Kotak Mahindra Bank,the loan amount is one lakh.The rate of interest is nominal as compared to other banks.They took almost two weeks to complete the loan request.I have given post dated cheques to clear my EMI.The overall service is an average.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Dec 07, 2017
    • Kotak Personal Loan
      "Good"
      0.5 4.0/5 "Great!"
      I have my personal loan with KOTAK bank . The loan amount was 2.5 lakhs and the interest rate was 14% which was very high in the market . The customer service and responses was up to the mark. They have provided door step service for collecting document and the process was nominal here so I would like to recommend their service to others.
      Was this review helpful? 0
      , pune
      Reviewed on Dec 07, 2017
    • Kotak Personal Loan
      "Need to Improve"
      0.5 1.0/5 "Really Bad"
      I have my personal loan with KOTAK Bank . The loan process was not good. Here since they have asked me to submit list of documents. The loan amount was 4 lakhs and the interest rate was 10.99%which was average in the market. I am not satisfied with the customer service here since they did not clearly mention everything and hidden charges was also there.
      Was this review helpful? 0
      , pune
      Reviewed on Dec 07, 2017
    • Kotak Personal Loan
      "Need Transparency "
      0.5 3.0/5 "Satisfactory"
      The personal service was not transparent and they haven't fulfilled the query, because I have applied for the top up personal loan but the approved loan amount was different and the disbursed amount was lower than that, They customer support is not up to the mark with Kotak mahindra. The rate of interest and the charges are average with kotak mahindra.
      Was this review helpful? 0
      , chennai
      Reviewed on Dec 07, 2017
    • Kotak Personal Loan
      "Needs to improve on Customer Service"
      0.5 2.0/5 "Expected more"
      My personal loan experience with Kotak Mahindra bank was not up to the mark. There was no issues with the bank, they provided door step service to collect the documents. The process was very quick and my loan amount was approved within the given time. Customer service was not good, they did not explain about the processing fees, they charged Rs 10000 for one assist and another 5000 rs which they do not have explanation. The rate of interest was high when compared to other banks.
      Was this review helpful? 0
      , bangalore
      Reviewed on Dec 06, 2017
    • Kotak Personal Loan
      "Dissatisfactory"
      0.5 1.0/5 "Really Bad"
      I am not satisfied with the Kotak Mahindra Bank service. Whenever I call the customer support they don't give the proper information, they said to be on line and then call will be disconnected. The rate of interest was okay. The documentation process was done @ doorstep.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Dec 06, 2017
    • Kotak Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I had taken my personal loan with Kotak Mahindra Bank through online channel. The rate of interest was 18%, it was high when compared to other banks. The executive came to my place and collected all the documents. After collecting the documents, they disbursed 2,80,000 rupees.
      Was this review helpful? 0
      , new delhi
      Reviewed on Dec 06, 2017
    • Kotak Personal Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      I had applied for a personal loan with Kotak Mahindra.I had requested for five lakhs.Rate of interest is 15.99% its very high as compared to other banks,other additional charge like processing fees is 15000 deducted from my loan amount,they had processed the request within a week.
      Was this review helpful? 0
      , pune
      Reviewed on Dec 06, 2017
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