Multiple banks. Different interest rates. Call it a "conflict of interest".
  • Kotak Mahindra Personal Loan EMI Calculator is Rated as "Pretty good" by 2664 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

    • 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
      "My personal loan experience"
      0.5 1.0/5 "Really Bad"
      I have taken a personal loan from Kotak. When i applied for the loan they have said the interest rate was 10% but after sanctioned the loan they have charged me 20% as a interest rate without any prior information. I have applied the loan through online. I have given enough documents with the reference proof.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 17, 2019
    • Kotak Personal Loan
      "Not i have expected from Kotak"
      0.5 4.0/5 "Great!"
      There are lots of difference between my communication and their action. There were many customer care executive spoke with me with the different details. There are some hidden charges for that they have informed me after sanctioning the loan. Because of the fast process, i have chosen the Kotak bank for my personal loan.
      Was this review helpful? 0
      , pune
      Reviewed on Jan 17, 2019
    • Kotak Personal Loan
      "Average loan services"
      0.5 4.0/5 "Great!"
      Interest rate and processing charges are too high. They have charged me 4% as a processing fee and interest rate was bit high when i compared to others. I have applied the loan amount of Rs. 3.5 lakhs. I have received the loan on time. Their collection executive came to my place and collected my documents.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jan 17, 2019
    • Kotak Personal Loan
      "Best in service"
      0.5 5.0/5 "Blown Away!"
      I had taken a personal loan with Kotak Bank and the services were satisfactory. The interest rates were reasonable and it was 8.35%. There was no delay happened in my application at the time of applying. The overall services are quite good in Kotak.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jan 17, 2019
    • Kotak Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I took a personal Loan from KOTAK MAHINDRA BANK . The Application process was smooth and the loan amount was credited to my account with in few days. The documentation was also very fast. I am happy with their services considering the loan experience. The tenure period is 48 month .
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 17, 2019
    • Kotak Personal Loan
      "Need to improve the service"
      0.5 2.0/5 "Expected more"
      I have done a balance transfer from Kotak Mahindra Bank and not received the cheque to HDFC. The customer service is not responding properly, am trying to contact my relationship manager for last 10 days and wrote email as well but no answer. The rate of interest was fine but there was too many charges. The loan duration is 5 years.
      Was this review helpful? 1
      , mumbai
      Reviewed on Jan 14, 2019
    • Kotak Personal Loan
      "Charges should be reduced"
      0.5 3.0/5 "Satisfactory"
      There was more charges on the personal loan, Kotak Mahindra taken around Rs. 6000 from 1.3 lakh for the tenure of 34 months. They gave me the part payment and foreclosure, only charges need to be reduced as per the bank norms, remaining all fine with them.
      Was this review helpful? 1
      , new delhi
      Reviewed on Jan 14, 2019
    • Kotak Personal Loan
      "Good and need to reduce the rate of interest"
      0.5 4.0/5 "Great!"
      I have applied my personal loan with Kotak Mahindra through online. The rate of interest is little on the higher side. They have taken around 7 days to deliver the loan, I can do part payment and foreclosure with 5% which is higher. The documents are submitted online.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jan 12, 2019
    • Kotak Personal Loan
      "Excellent Service"
      0.5 4.5/5 "Excellent!"
      The process in getting this Personal loan has been quick and there has not been any hassle in the process. The loan amount has been sufficient and the interest rate with them has been nominal. There has not been any additional charges which they had made and the processing fee was nominal.
      Was this review helpful? 1
      , pune
      Reviewed on Jan 09, 2019
    • Kotak Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      The process in getting this loan has been quite simple and smooth where there was not been any hassle. The loan amount which they had provided has been sufficient and the interest rate with them has been quite high when compared with the market rate and there has been some charges which they had made as well.
      Was this review helpful? 2
      , hyderabad
      Reviewed on Jan 09, 2019
    • Kotak Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      The customer service and response was excellent. The rate of interest was little bit high and the processing fee was nominal. I have submitted the documents online and this is the best part. They took almost one week to process the loan. Part payment can be done after 6 months. I am really happy with Kotak Mahindra Bank.
      Was this review helpful? 2
      , new delhi
      Reviewed on Jan 09, 2019
    • Kotak Personal Loan
      "Verification should be easy"
      0.5 5.0/5 "Blown Away!"
      Kotak interest rate is compartively low in the market but not I expected around 10% but they gave me around 11.4% for the loan amount of Rs. 3.5 lakhs. My loan has the tenure period of 36 months. After 6 months I can close the loan without any charges. But they did lots of verification it should be simple.
      Was this review helpful? 2
      , bangalore
      Reviewed on Jan 09, 2019
    • Kotak Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I do have a personal loan in Kotak which was taken before 2 months. The rate of interest is 2% higher compared to HDFC. Its a pre approved loan, customer service is good. The process was immediate and approved within 10 minutes. The loan duration is 24months, I can do pre clos and part payment after 6 months.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Jan 08, 2019
    • Kotak Personal Loan
      "Need to fulfill the requirement"
      0.5 3.0/5 "Satisfactory"
      Kotak Mahindra took long time to disburse the loan amount, along with the lots of queries. The bank have taken one month of time to sanctioned it. They didn't give me the sufficient loan amount, based on the cibil score, they taken some amount for the insurance product on loan but I didn't get the policy copy for it.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jan 08, 2019
    • Kotak Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have taken a personal loan with KMB and my experience was good, the loan amount was sufficient and the rate of interest was nominal when compared to others. Customer service was good and they responded on time. Tenure period for this loan is 3 years.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jan 08, 2019
    • Kotak Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have taken personal loan through KOTAK MAHINDRA BANK , the customer service sis good and i did not face any issue at the time of documentation time . There are no hidden charges with this bank and tenure period is 4 years . Loan amount is up to the mark . Processing fee is also very much reasonable.
      Was this review helpful? 4
      , new delhi
      Reviewed on Dec 22, 2018
    • Kotak Personal Loan
      "Good in Service"
      0.5 5.0/5 "Blown Away!"
      I got a salary account in Kotak and when i was in need of personal loan i had applied with Kotak Bank. Well the time when i applied my application was considered and was taken care. With in minutes my application was processed and got instant Approved. The Interest rates are 12 % and when compared to other banks it is reasonable.
      Was this review helpful? 4
      , new delhi
      Reviewed on Dec 20, 2018
    • Kotak Personal Loan
      "Good Financial service"
      0.5 4.0/5 "Great!"
      I have taken personal loan from Kotak Mahindra bank bank . Am ok with the rate of interest which they have provided Is good. There is nominal processing fees for the loan which is Rs 16000. I make the payments through Ecs every month. They did quick documentation and received the loan in 15 days.
      Was this review helpful? 1
      , navi mumbai
      Reviewed on Dec 19, 2018
    • Kotak Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      The experience with this loan has been good and the loan amount which they had provided has been sufficient as well. The interest rate with them has been nominal and there has not been any sort of charges which they had been making so far. There has not been any hassle faced with the banking services of them.
      Was this review helpful? 1
      , bangalore
      Reviewed on Dec 19, 2018
    • Kotak Personal Loan
      "Best service"
      0.5 5.0/5 "Blown Away!"
      I have been using my personal loan with Kotak mahindra bank, the loan amount they have charged me was not sufficient, i had expected up to 20,00,000 but i got 10,00,000 only, and the rate of interest they have charged me was up to 11.3% which was nominal,and there overall process went smoothly.
      Was this review helpful? 2
      , bangalore
      Reviewed on Dec 18, 2018
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