Multiple banks. Different interest rates. Call it a "conflict of interest".
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  • Kotak Mahindra Personal Loan EMI Calculator is Rated as "Pretty good" by 2304 Users

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    Kotak Mahindra Personal Loan EMI Calculator

    Overview about Kotak Personal Loan 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 4.0/5 "Great!"
      It was a good experience with KOTAK for my personal loan service they provide me with a good interest rate 13 % which is nice compare to others in the market and the documents have been collected from my door step and the payments where through ecs it was a awesome service from KOTAK for my personal loan service.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Nov 17, 2017
    • Kotak Personal Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      My personal loan got approved with Kotak mahindra bank. The customer support gave me quick response in regards to my personal loan application and I would like to suggest the same response need to be given to all other customers. The rate of interest and the charges are low with Kotak mahindra
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 17, 2017
    • Kotak Personal Loan
      "Overall good"
      0.5 4.0/5 "Great!"
      Kotak Mahindra Bank is excellent in the personal loan process and they were on time as well and with minimum effort the money came in to my account. The rate of interest is a bit high. It was around 14% for the tenure of five years. I asked for 3 years though. The processing charges was waive off.
      Was this review helpful? 0
      , kolkata
      Reviewed on Nov 17, 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 closed because there was no pre closure and part payment options. Customer service part was good, they responded on time and gave all the right information. The rate of interest is nominal when compared to other banks.
      Was this review helpful? 0
      , pune
      Reviewed on Nov 17, 2017
    • Kotak Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have applied for the personal loan from Kotak Mahindra Bank, my loan application was closed because i had an issue with my CIBIL score. The customer service was good and they responded on time, there was no issue from the bank side and they followed up regularly. The rate of interest was high when compared to others in market.
      Was this review helpful? 0
      , new delhi
      Reviewed on Nov 16, 2017
    • Kotak Personal Loan
      "Service need to be improved "
      0.5 2.0/5 "Expected more"
      The Kotak mahindra bank has asked me to submit the salary slip to proceed with the personal loan with Kotak mahindra bank. The customer support was average with Kotak mahindra. The rate of interest which was offered by Kotak was average when compared with others.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 15, 2017
    • Kotak Personal Loan
      "Good"
      0.5 3.0/5 "Satisfactory"
      My personal loan was taken with Kotak. Initially I got a msg saying 3L 9K will be disbursed finally I had received 2L 96K. It was a good experience but little delayed for the disbursement. The document collection was complicated. The interest rate was good comparatively to other banks.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 15, 2017
    • Kotak Personal Loan
      "Below average service"
      0.5 1.0/5 "Really Bad"
      The response was not given by Kotak mahindra in concern to my personal loan application. I never got any kind of call back from Kotak mahindra. The response need to be improved the Kotak Mahindra bank . The customer support need to be focused with Kotak mahindra.
      Was this review helpful? 0
      , faridabad
      Reviewed on Nov 15, 2017
    • Kotak Personal Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      The rate of interest was high with Kotak mahindra personal loan , so that was the reason I haven't got the personal loan from Kotak mahindra. The response part need to be improved with Kotak mahindra. The rate of interest need to be reduced as per the customer requirement.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 15, 2017
    • Kotak Personal Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      With KOTAK Bank it was a good experience with them for the personal loan process . The customer service was good , delivered . The bank gave me a full approval on the amount i asked for . The rate of interest was 13% and the processing fee was 2.5K charged to me . The bank did not provide me pre closure option . Over all it was a good service i received .
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 15, 2017
    • Kotak Personal Loan
      "GOOD SERVICE"
      0.5 4.0/5 "Great!"
      I have applied for a personal loan with KOTAK but they said my salary was not under bank criteria and the interest rate they offered me was 11 % which was fine and the customer service was good it was a good experience with KOTAK for my personal loan service.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 14, 2017
    • Kotak Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I am very much happy with the service of KOTAK MAHINDRA ,I use to get regular followups and the processing fee was also very good with KOTAK MAHINDRA compare to others in the market, it was a very fast and immediate response from KOTAK MAHINDRA for my personal loan service.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 13, 2017
    • Kotak Personal Loan
      "Better"
      0.5 3.0/5 "Satisfactory"
      I have approached Kotak for personal loan. They said I am eligible for 2L 60K. My documents are submitted to the executive and they came for verification to my office. That time employee's are less in the office, its been rejected due to bank norms. They have taken one month time, it would be better if they inform earlier. Based on this personal loan experience, I am not happy with Kotak.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 11, 2017
    • Kotak Personal Loan
      "Good service"
      0.5 4.5/5 "Excellent!"
      I have applied for a personal loan from KOTAK MAHINDRA BANK. Later i got the amount from some other source so i could not able to proceed and closed the personal loan application The response was good from them.The gave regular follow up calls.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 11, 2017
    • Kotak Personal Loan
      "Not satisfied with Interest "
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan from KOTAK MAHINDRA BANK.The approved loan amount was 4 lakhs. The rate of interest was 13.5percentage. The documentation with the bank well done. The EMI is 10000 with 5 years of tenure. The response and customer service was good.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 11, 2017
    • Kotak Personal Loan
      "Approchable bank"
      0.5 5.0/5 "Blown Away!"
      I could not able to avail the personal loan from KOTAK MAHINDRA BANK just because i have got the money from some other source. But in future if i am planning to take any personal loan then i will consider KOTAK MAHINDRA BANK. The customer support and response with the bank is good and comfortable.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 11, 2017
    • Kotak Personal Loan
      "Behavior of Kotak mahindra bank representative. "
      0.5 0.5/5 "Unacceptable"
      For my Personal Loan application with Kotak Mahindra I did receive a Call from the Bank and had a detailed discussion about the Loan. Poor Experience with KOTAK MAHINDRA BANK(Pune). Bank representative behavior is very rude. Behave like a uneducated person.
      Was this review helpful? 0
      , pune
      Reviewed on Nov 10, 2017
    • Kotak Personal Loan
      "Satisfied"
      0.5 5.0/5 "Blown Away!"
      My application has been closed because there is a delay on my card payment dues. I have submitted this bill along with my documents. The customer service and response is good. ROI is nominal. They provided a doorstep service for documents. The processing fee is also minimal.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 10, 2017
    • Kotak Personal Loan
      "GOOD SERVICE"
      0.5 4.0/5 "Great!"
      It was a good experience with KOTAK for my personal loan service but I feel the process was little delay and the interest rate is 16 % which is little high compare to others in the market still the service was good with KOTAK for my personal loan service.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 10, 2017
    • Kotak Personal Loan
      "Worst service"
      0.5 1.0/5 "Really Bad"
      It was a good experience with KOTAK for my personal loan service but only once I got the call from KOTAK staffs after that there was no proper response from them no proper information they never called me ,I am not much happy with the service of KOTAK for my personal loan service.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 10, 2017
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