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  • Kotak Mahindra Personal Loan EMI Calculator is Rated as "Pretty good" by 2526 Users

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    Kotak Mahindra Personal Loan EMI Calculator

    Headquartered in Mumbai, Kotak Mahindra Bank offers a plethora of banking products and services through various channels in areas of investment banking, personal finance, life insurance and wealth management. The bank has a wide network of 641 branches and more than 1,159 ATMs spread all over the country. With the Kotak Mahindra Personal Loan, you can meet your personal needs as well as fulfil your financial goals. The loan can be utilised for meeting medical expenses, travel expenses, education expenses and other personal expenses such as wedding and more.

    How to Use BankBazaar Kotak Mahindra Personal Loan Calculator to Understand Your Personal Loan Repayment

    When you take a Kotak Mahindra personal loan, you are required to make the repayment in Equated Monthly Installments (EMIs). An EMI towards the loan comprises of the principal amount and interest charges. When you take a loan, the first thing you do is calculate EMI. Calculation of EMI requires you to know the loan amount, the rate of interest applied on the loan and the processing fee charged towards the loan. Once you know all this, you can then determine the monthly installment based on the chosen loan duration. In order to adjust the EMI into your budget, you may be required to calculate over and over again. The calculation does not end here, you will then have to choose a lender or a bank offering the best loan scheme suitable for you. This would result in recalculation of EMI for each loan scheme.

    The BankBazaar Loan EMI Calculator is an online tool that calculates EMI for various loan schemes in seconds. It also gives a detailed breakup of the loan related components such as processing fees, etc. Amortisation tables are used to generate the output in this tool instantly.

    To calculate Kotak Personal Loan EMI using the BankBazaar Loan EMI calculator, follow 7 Simple steps given below

    Apply for Personal Loan
    • Visit the BankBazaar homepage.
    • Click on the drop down menu on the extreme right of the home page.
    • Select ‘Finance Tools’.
    • From the list given under Finance tools, select ‘EMI calculator’.
    • Then, enter loan details such as loan amount, interest rate, loan tenure and processing charges.
    • Choose yes or no towards the option of making pre-payments.
    • Upon entering all fields and completing selection, the monthly EMI can be generated by clicking on ‘Calculate’.

    How does the Kotak Mahindra Personal Loan EMI Calculator Work?

    The online loan EMI Calculator can be used to find out the EMI amount when you take a personal loan from Kotak Mahindra. The calculator uses the following formula:

    E = P x r x (1+r) ^n/ ((1+r) ^n-1)

    Where, E – EMI

    P – Loan Amount

    r – Interest Rate (Monthly)

    n – Loan Tenure (In months)

    Some online calculators also have additional components such as the processing fee for calculating the accurate EMI. Usually, banks or lender charge a processing fee between 1% and 3%.

    Features and Benefits of Kotak Mahindra Personal Loan EMI Calculator

    The personal loan EMI calculator helps you make a choice when it comes to taking a personal loan. The tool is even customised to take into account any prepayments that you would wish to make, before calculating the EMI.

    Some of the main highlighting features of the loan EMI calculator are:

    • Accuracy – This online tool incorporates all parts of the loan such as the amount borrowed, interest rate, and loan duration. As this is automated, the risk of error in calculation drastically reduces. Calculation on this tool is more accurate than a manual one.
    • Speed – Manual calculation of EMI and various permutations and combinations to achieve an affordable installment amount is a time taking process. Meanwhile, using the EMI loan calculator, the same calculations can be done within seconds.
    • Convenience – This comprehensive EMI calculator is a convenient way of calculating EMI, helping us make quick decisions that are best suited to our financial plan.
    • Amortisation Tables – An amortisation table is used in an online calculator and helps in determining your loan progress over the entire loan tenure. The table also tells you the repaid amount in terms of principal and interest, with each year of completion of the loan tenure.
    • Graphical Representation – Apart from calculating the EMI towards the loan, the loan calculator also generates a pie diagram graphically representing the total loan amount paid. It also displays the principal, interest and processing fee in the diagram.

    Kotak Mahindra Personal Loan Calculator FAQs

    1. Can the Loan EMI Calculator be used for calculating EMIs for other banks apart from Kotak Mahindra?

      Yes, the personal loan EMI calculator is a universal tool and can be used to generate EMI for any desired bank’s loan scheme.

    2. What is the advantage of using an EMI Calculator?

      A manual calculation is time taking as well as taxing, while an EMI calculator is automated, online and generates instant output.

    3. Where can I find a loan EMI calculator to calculate the EMI for Kotak Mahindra Personal Loan?

      You can use the loan EMI calculator found on the BankBazaar’s website to calculate the accurate EMI amount you will have to pay towards a personal loan from Kotak Mahindra.

    Personal Loan Reviews

    • Kotak Personal Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      The process in getting the loan had been very good and verification process had been very simple and easy. The loan amount which they had provided had been satisfactory which was about 2,20,000 and the interest rate with them also had been okay which was 18%. Overall it had been a good experience.
      Was this review helpful? 1
      , mumbai
      Reviewed on Jul 20, 2018
    • Kotak Personal Loan
      "Need to improve"
      0.5 1.0/5 "Really Bad"
      My personal loan was taken with KOTAK BANK 1.5 years back. Te loan amount was 93,000 but the interest rate was very high . The tenure period was 36 months but i pre closed it and they have collected 5% as pre closing charge. They have forced me to take this loan and the prepossess was also very lengthy. They have taken 3 week top disbursed the loan amount and the processing fee was also too high.My
      Was this review helpful? 3
      , bangalore
      Reviewed on Jul 19, 2018
    • Kotak Personal Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I've taken a personal loan from the Kotak Mahindra bank. I have taken 1 lac, I got the loan with in 2 days. I applied online banking. The interest rate is low. It was a very fast personal loan experience with the bank and their services.
      Was this review helpful? 4
      , pune
      Reviewed on Jul 14, 2018
    • Kotak Personal Loan
      "They should connect with the customers"
      0.5 1.0/5 "Really Bad"
      It is okay to loan get rejected. There should be some problem in my side. For that they did not given any call from Kotak. I did not received the message like loan application number and details of the loan. I'm still looking for the loan of 2 lakhs. It was applied the amount of 4 lakhs. Somebody came to my place to collect the documents. They have offered me nothing and i don't know any details about the loan
      Was this review helpful? 1
      , mumbai
      Reviewed on Jul 10, 2018
    • Kotak Personal Loan
      "Process was bit delay"
      0.5 5.0/5 "Blown Away!"
      The approved loan was 5 lakhs. The rate of interest was 10.99%. The monthly EMI is 11000 for a tenure for 5 years. There was no processing fee or documentation charges. The service was really good. But it was some delay in between for the process.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 04, 2018
    • Kotak Personal Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I have take personal loan from the Kotak mahindra bank bank which they approved in quickly and the amount is reflected in next day ,its instant approve process. As am satisfied with the rate of interest which is nominal one . They provided the tenure period of 1 year and i make the payment monthly though ECS. There are nominal processing fees also.
      Was this review helpful? 1
      , noida
      Reviewed on Jul 04, 2018
    • Kotak Personal Loan
      "Good bank to take personal loan"
      0.5 5.0/5 "Blown Away!"
      It took lots of time to disburse the loan. I had done a many follow up from them. Their is a lots of issues while processing the loan. They used to say will process the loan within 24 hours and their is no proper intimation also from them. They never called for the delay of the loan. The relationship manager did not give any proper response. They have provided the interest rate of around 13%. And processing fee of 0.5%.
      Was this review helpful? 0
      , jaipur
      Reviewed on Jun 30, 2018
    • Kotak Personal Loan
      "Not satisfied"
      0.5 1.0/5 "Really Bad"
      I have not got the personal loan with the Kotak mahindra bank because of some other reasons. I would like to say that the interest rate is around 14% for the personal loan. Everything is better one with the Kotak mahindra bank.
      Was this review helpful? 0
      , thane
      Reviewed on Jun 27, 2018
    • Kotak Personal Loan
      "Very Good Service"
      0.5 3.0/5 "Satisfactory"
      The process in getting the loan has been easy and smooth. But the interest rate with them has been high as they had been charging 14.5%. The loan amount which i was looking for was 4L and they had provided me with 2L and there has not been any issues with that. They also had been having a very good customer support which is always reachable.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jun 25, 2018
    • Kotak Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      The experience with them had been very good so far and the process in getting the loan had been very good. The loan amount which they had given had been satisfactory and the interest rate with them had been normal. There has not been any kind of issues faced with them so far with the services which they had been providing.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 25, 2018
    • Kotak Personal Loan
      "Good Top up Plan"
      0.5 4.5/5 "Excellent!"
      I have applied the loan top up with the Kotak Mahindra bank for my existing loan with other bank. I have to pay the EMI of Rs. 4995 every month. I will pay easily by using the net banking. They are charging me a interest rate of 10.99%. The customer care service is prompt.
      Was this review helpful? 1
      , kochi
      Reviewed on Jun 21, 2018
    • Kotak Personal Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      It has been a very good experience with them so far. The process in getting the loan has been very good and simple. It has taken almost 15 days in getting the loan amount and the loan amount had been satisfactory. But the interest rate has been a little high compared with the other banks.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 19, 2018
    • Kotak Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I've applied for a personal loan with the Kotak Mahindra bank. I got the loan with in 3 days, Documentation was easy. The interest rate is normal when comparing with other banks in the market. The whole loan process was smooth as as a breeze...
      Was this review helpful? 0
      , kochi
      Reviewed on Jun 16, 2018
    • Kotak Personal Loan
      "Very good"
      0.5 4.0/5 "Great!"
      My personal loan was taken with KOTAK Bank 6 years back. The loan amount was 1 lakh and the given interest rate was satisfactory . The tenrue period was 2 years . I had a very good process and its was very simple. The customer service and responses was up to the mark. I have not faced any inconvenience with the service here. The processing fee was nominal.
      Was this review helpful? 0
      , noida
      Reviewed on Jun 16, 2018
    • Kotak Personal Loan
      "Prompt services from Kotak "
      0.5 4.0/5 "Great!"
      My loan got delayed due to the annual closing of the banking process. I have mailed to them regarding the delay. But i never got the reply from them. But relationship manager was good. She always give proper response whenever i called her. Their is no hidden charges. Whatever they have promised about the interest rate, they have maintained. They have to be handle with care. Actually, My loan got approved, but i got the money late. If anyone needs of money, then it is not good. Very Lengthy documentation process. They have got more than 100 signatures in the documents which has to be improved. But it is a hassle free services from the Kotak bank.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jun 10, 2018
    • Kotak Personal Loan
      "Best "
      0.5 5.0/5 "Blown Away!"
      I have the personal loan with the Kotak mahindra bank and the interest rate is around 11%. I would like to say that the response is good one and I have got the loan amount within a week of time. I am really happy with them.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 07, 2018
    • Kotak Personal Loan
      "Very good"
      0.5 4.0/5 "Great!"
      My personal loan was taken with KOTAK BANK 2 years back. The loan amount was 1 lakh and the process was very quick. I am completely satisfied with their Mobile application which is very convenient and through which i have taken instant loan. The processing fee was nominal.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 07, 2018
    • Kotak Personal Loan
      "Not satisfied"
      0.5 1.0/5 "Really Bad"
      My personal loan was taken with KOTAK BANK.I have requested for 3 lakhs loan amount but due to my low Cybil score they have issues just 2.5 lakhs which was not pre informed when i they have processed it . The customer service and responses was not up to the mark. Their interest rate was 17% which is very high and the processing free was also high here .
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 06, 2018
    • Kotak Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have taken this loan on the last November, the process in getting this loan has been very easy and smooth. The loan has got at the correct time and the loan amount had been satisfactory. The interest which they had been charging had been wonderful. The banking services had been ahead when compared with the other banks.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jun 06, 2018
    • Kotak Personal Loan
      "If you follow up you will get the loan"
      0.5 5.0/5 "Blown Away!"
      Processing fee is like anything other banks. I have done a regular follow up with the loan team. I don't think so i would have get my loan without my follow up. The commitment was given to me is not met. They said you will get the loan tomorrow. The same word they are saying for at least a week. Without proper follow up it not way to get loan. Around 12% as a interest rate.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jun 06, 2018
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