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  • Kotak Mahindra Personal Loan EMI Calculator is Rated as "Pretty good" by 2605 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
      "Need to reduce ROI"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan with KMB and my expeirence was good, the loan amount was for Rs 4 lacs with high interest rate when compared to other banks. Customer service was good and they responded on time. The tenure period for this loan is 5 years.
      Was this review helpful? 0
      , new delhi
      Reviewed on Nov 20, 2018
    • Kotak Personal Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      My personal loan experience was good with KMB, there was delay in collecting the documents so it took 10 days to receive the loan amount. I requested loan amount for Rs 3.5 lacs but they gave only Rs 1 lac with high interest rate. Customer service was good and they responded on time.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 20, 2018
    • Kotak Personal Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      It has been a good experience i had with this loan and i had recently taken this loan. The process in getting this loan has been good and the loan amount has been sufficient as well. The processing fee has been nominal and their customer support has been helpful at times.
      Was this review helpful? 1
      , bangalore
      Reviewed on Nov 19, 2018
    • Kotak Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      My personal loan was taken with KOTAK MAHINDRA BANK ,customer service is good and documents were collected on time. I use to pay EMI on time . The tenure period is 5year . My personal loan experience is very good KOTAK MAHINDRA BANK .
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 18, 2018
    • Kotak Personal Loan
      "Quickly processing loan"
      0.5 5.0/5 "Blown Away!"
      I have got my personal loan on time. I have applied the loan amount of Rs. 2 lakhs and they have given me a interest rate of 11% and i'm happy about it. They have charged Rs. 7000 as a processing fee. The documentation process was good. I don't find any difficulties and pre-closure is available for after 1 year with a charges.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 17, 2018
    • Kotak Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I am running a personal loan with Kotak Mahindra Bank before 4 to 5 months. The rate of interest is bit less when compared to ICICI Bank. They are good in service and response. They resolved my issues quickly. The loan duration is 2 years. The documentation procedure was very easy and the loan credited within 2 to 3 minutes since am holding a salary account.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 17, 2018
    • Kotak Personal Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      My perosnal loan experience was good with Kotak mahindra bank, the process took 1 week to complete. Customer support was good and they responded on time. The loan amount was for Rs 10 lacs with nominal interest rate. The tenure period for this loan was 5 years.
      Was this review helpful? 1
      , indore
      Reviewed on Nov 16, 2018
    • Kotak Personal Loan
      "Best in Need"
      0.5 5.0/5 "Blown Away!"
      I had applied for a Personal Loan with Kotak. The unique thing about kotak is that they understands their customer needs and requirement and then act accordingly. I remember my application was processed within minutes and what else you expect from a Loyal Bank.
      Was this review helpful? 0
      , new delhi
      Reviewed on Nov 16, 2018
    • Kotak Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have been holding Kotak mahindra bank personal long time, they have given me sufficient loan amount and the rate of interest they have charged me was up to 10.45% which was nominal for me and even processing fee they have charge me was nominal , there overall service was good .
      Was this review helpful? 1
      , hyderabad
      Reviewed on Nov 16, 2018
    • Kotak Personal Loan
      "Interest rate should be redcued"
      0.5 4.0/5 "Great!"
      I have a personal loan with Kotak Mahindra Bank. The rate of interest is 17% which was high. The loan duration is 5 years and it was taken before one month. I got a proper response from the customer support. Every month installment is going to be 7700 rupees for loan of 3L.
      Was this review helpful? 1
      , mumbai
      Reviewed on Nov 15, 2018
    • Kotak Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      My perosnal loan experience was good with Kotak mahindra bank, the process took 1 week to complete. Customer support was good and they responded on time. The loan amount was for Rs 1 lac with nominal interest rate. The tenure period for this loan was 5 years.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 15, 2018
    • Kotak Personal Loan
      "Good experience"
      0.5 4.0/5 "Great!"
      I have got my loan on time. I have received the interest rate of 10.99% per annum and i'm satisfied with it. I have been charged Rs.1100 as processing fee. I have applied the perosn alson 2.5 lakhs and i have chosen the tenure period of 4 years. The documentation process was okay. There is a option of pre-closure and partial payment.
      Was this review helpful? 0
      , pune
      Reviewed on Nov 15, 2018
    • Kotak Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      My personal loan was taken with KOTAK MAHINDRA BANK , they charge very high rate of interest and even processing fee were too high it is 5000. There is no hidden charges with this bank . Customer support and their response is good while getting the loan . The tenure period is 3year and there is no foreclosure option with this Bank.
      Was this review helpful? 0
      , greater noida
      Reviewed on Nov 14, 2018
    • Kotak Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      It has been a good experience i had with this loan where the process has been simple. The loan amount which they had provided has been good and the interest rate with them has been around 13% which has been nominal. The processing fee and charges came around like 4000 which has been good as well.
      Was this review helpful? 2
      , pune
      Reviewed on Nov 13, 2018
    • Kotak Personal Loan
      "Need to reduce the interest rate"
      0.5 2.0/5 "Expected more"
      I have applied my personal loan in Kotak Mahindra Bank. I have a saving account and expecting the loan with them but the rate of interest was 19% for 2L which is very high compared to other banks. I got a proper response. I have cancelled the loan and gone for HDFC Bank.
      Was this review helpful? 0
      , thane
      Reviewed on Nov 12, 2018
    • Kotak Personal Loan
      "Covenient bank"
      0.5 3.0/5 "Satisfactory"
      I have got the loan on time. I do have an issue with Kotak. They have given me a insurance product along with the personal loan. When i contact the customer care they told me that the insurance is refundable one and security purpose and anywhere in the documents, they have not mentioned that insurance is refundable. I have applied the loan amount of Rs, 10 lakhs and they have sanctioned the same. They have offered me a interest rate of 12% and the processing fee was 2%.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 12, 2018
    • Kotak Personal Loan
      "Process should be faster"
      0.5 4.0/5 "Great!"
      Kotak Mahindra bank taken more than one month to disbursed the amount, they were keep collecting the documents from my end. But interest rate and fee are nominal as like other banks. I have taken loan amount of Rs. 1 lakh for tenure of 36 months.
      Was this review helpful? 1
      , coimbatore
      Reviewed on Nov 12, 2018
    • Kotak Personal Loan
      "Excellent "
      0.5 4.0/5 "Great!"
      I have one personal loan in Kotak Mahindra Bank before 2 month, overall it was good. After doing the comparison on online and I found the best offers. The customer service is good. The rate of interest and charges are normal like other banks. They have given what I have required. Premium of 11K auto debit. They are giving more credit limit.
      Was this review helpful? 2
      , chennai
      Reviewed on Nov 03, 2018
    • Kotak Personal Loan
      "GOOD SERVICE"
      0.5 5.0/5 "Blown Away!"
      I have been using with the personal loan with the KOTAK MAHINDRA BANK where the process of getting the personal loan is very good also it is quick process. the rate of interest is nominal which is 10.99% added on that they have given the loan amount which is satisfactory.
      Was this review helpful? 0
      , kolkata
      Reviewed on Nov 03, 2018
    • Kotak Personal Loan
      "Good Financial service"
      0.5 4.0/5 "Great!"
      Got my personal form kotak mahindra bank , as the rate of interest is nominal . Paying the payments through Ecs . Got approved in just 10-15 days as instant approval process there is processing fees for the personal loan with tenure period of few years . Their customer service and response is good regarding personal loan.
      Was this review helpful? 2
      , ahmedabad
      Reviewed on Nov 01, 2018
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