Request received - loud & clear!
Returning you to where you were...
Kotak Mahindra Bank offers personal loan with EMI starting from Rs.2,174 per lakh.
The interest rate on the Kotak personal loan starts at 10.99% p.a. Before you apply for a personal loan from Kotak Mahindra, you can use the personal loan EMI calculator available on the BankBazaar website to determine the EMI payable based on the loan amount, repayment tenure, and rate of interest.
Example – Suppose you have taken a personal loan of Rs.3 lakh from Kotak bank at an interest rate of 10.99% p.a. and processing fee of 2.5%. Your repayment details for different tenures will be as follows:
Rs.3 lakh @10.99% p.a. | 2 years | 3 years | 5 years |
Equated Monthly Instalment (EMI) (Rs.) | 13,981 | 9,820 | 6,521 |
Total Interest Payable (Rs.) | 35,543 | 53,527 | 91,274 |
Processing Fee (Rs.) | 7,500 | 7,500 | 7,500 |
Total Amount Payable (Rs.) | 3,43,043 | 3,61,027 | 3,98,774 |
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. repayment tables are used to generate the output in this tool instantly.
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%.
Yes, the personal loan EMI calculator is a universal tool and can be used to generate EMI for any desired bank’s loan scheme.
A manual calculation is time taking as well as taxing, while an EMI calculator is automated, online and generates instant output.
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.
A GST rate of 18% will be applicable on banking services and products from 01 July, 2017.
Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.
Gain an edge by connecting with us via email. We promise never to spam you.
Request received - loud & clear!
Returning you to where you were...
Psst... We'll ensure you're the very first to know the moment rates change.
We'll email you immediately! You snooze, you lose.