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  • Kotak Mahindra Personal Loan EMI Calculator is Rated as "Pretty good" by 2567 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 experience i had in getting this personal loan has been okay, where the loan amount which they had provided had been sufficient and the interest rate with them also had been nominal. Their customer support also had been helpful at times and has been responsive. There has not been any hassle faced with them so far.
      Was this review helpful? 2
      , hyderabad
      Reviewed on Sep 19, 2018
    • Kotak Personal Loan
      "Very Good Service"
      0.5 4.0/5 "Great!"
      The process in getting this loan has been smooth and easy and the loan amount also had been satisfactory as well. The interest rate with them has been quite okay and there has been some processing fee which they had charged. Their customer support and their staff responses also had been very good as well.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 17, 2018
    • Kotak Personal Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      It was an average experience with Kotak Mahindra bank for personal loan, the process took 30 days to complete and the customer support was not up to the mark. The loan amount was based on my requirement and the rate of interest was nominal when compared to other banks.
      Was this review helpful? 1
      , chennai
      Reviewed on Sep 17, 2018
    • Kotak Personal Loan
      "Very Good Service"
      0.5 4.0/5 "Great!"
      The process in getting this loan had taken almost three to four days and the process had been easy. The loan amount which they had provided has been satisfactory and the interest rate also been good as well. There has not been any charges which they had been charged also had been good when compared with the market rate.
      Was this review helpful? 2
      , new delhi
      Reviewed on Sep 17, 2018
    • Kotak Personal Loan
      "Good Service"
      0.5 3.5/5 "Pretty good"
      I've taken a personal loan form the Kotak Mahindra Ban. The loan amount 3 lacs, interest rate was more, customer support is waiting time at the branches are high. They need to stick to their timings and appointments.
      Was this review helpful? 2
      , hyderabad
      Reviewed on Sep 15, 2018
    • Kotak Personal Loan
      "Average Service"
      0.5 2.0/5 "Expected more"
      I had chosen to go with them since the EMI was very low with them and the process in getting this loan has been taken more time than usual. It took almost a month in getting the loan. The loan amount was satisfactory and the interest rate was quite reasonable. Their customer support and their staff responses also had been good in the initial times but it has gone not so well in the late days.
      Was this review helpful? 1
      , mumbai
      Reviewed on Sep 14, 2018
    • Kotak Personal Loan
      "Looking for less interest rate"
      0.5 4.0/5 "Great!"
      My personal loan application was approved with Kotak Mahindra bank and my experience was good, the process was smooth and i received my loan amount in 10 days. The rate of interest was nominal when compared to others. Customer service was good and they responded on time.
      Was this review helpful? 1
      , pune
      Reviewed on Sep 12, 2018
    • Kotak Personal Loan
      "Good"
      0.5 3.5/5 "Pretty good"
      I have taken my personal loan with KOTAK BANK . The loan amount was 4 lakhs and the interest rate was satisfactory . The tenure period was 5 years .They have sanctioned the loan with the committed time and the processing fee was also high. The customer service and responses was good.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Sep 12, 2018
    • Kotak Personal Loan
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      I have taken personal loan through KOTAK BANK , i receive my loan with in 4 days the process was too quick with this bank , i did not face any issues while getting loan and at the time of documentation . Rate of interest is 13% and processing fee is also very much nominal .
      Was this review helpful? 0
      , mumbai
      Reviewed on Sep 12, 2018
    • Kotak Personal Loan
      "Good. Can do better"
      0.5 4.5/5 "Excellent!"
      I have taken a personal loan with Kotak Mahindra Bank. The experience was good, but there was a delay in the process. I was told that I would receive the loan in six days, but it took three weeks. I received the loan as needed. The rate of interest is around 11% and the processing fees was charged as well.
      Was this review helpful? 2
      , chennai
      Reviewed on Sep 11, 2018
    • Kotak Personal Loan
      "Time consuming"
      0.5 1.0/5 "Really Bad"
      I have taken a personal loan from the Kotak Mahindra bank for 2.5 lacs, the interest rate was 14% , It took so much time to get approved and finally I got the loan amount. They need to work on the processing and application and ensure a timely disbursal.
      Was this review helpful? 4
      , bangalore
      Reviewed on Sep 05, 2018
    • Kotak Personal Loan
      "Need to reduce charges"
      0.5 5.0/5 "Blown Away!"
      My experience with Kotak Mahindra bank for personal loan was good, the loan amount was for Rs 4 lacs with high interest rate when compared to other banks. The charges are high on preclosure. Customer service was good and i preclosed the loan is 2 years.
      Was this review helpful? 4
      , bangalore
      Reviewed on Sep 05, 2018
    • Kotak Personal Loan
      "AVERAGE"
      0.5 4.0/5 "Great!"
      I have taken personal loan from KOTAK BANK , the rate of interest is 10.99 % initially they said different rate and later they charge different interest rate . . Customer service is not up the mark . Processing fee is 10000 and tenure period is 24month .
      Was this review helpful? 2
      , bangalore
      Reviewed on Sep 01, 2018
    • Kotak Personal Loan
      "Poor Service"
      0.5 2.0/5 "Expected more"
      I've taken a personal loan from the Kotak Mahindra Bank. The process was smooth, there were issues with the EMI auto debit and my cheque got bounced and Credit score also got affected. They need to be more precise with the payments collection.
      Was this review helpful? 1
      , pune
      Reviewed on Aug 31, 2018
    • Kotak Personal Loan
      "excellent"
      0.5 5.0/5 "Blown Away!"
      My loan amount was taken with KOTAK BANK , there is no hidden charges with this bank . Customer service and their follow up is good , the process of getting loan is too quick . My tenure period is 5year and rate of interest is 11.99% and it is nominal in the market . Processing fee is nominal and they gave preclosere option too .
      Was this review helpful? 3
      , indore
      Reviewed on Aug 30, 2018
    • Kotak Personal Loan
      "Good overall "
      0.5 4.0/5 "Great!"
      My personal loan is with Kotak Mahindra Bank. The process to get the loan was smooth and there was no delay. But the details like processing fee is not transparent and due to which the loan amount was lesser than expected. The rate of interest is of 13.75%.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Aug 29, 2018
    • Kotak Personal Loan
      "Average Service"
      0.5 3.0/5 "Satisfactory"
      I've taken a personal loan from the Kotak Mahindra Bank. The Rate of interest was high. The whole application process was easy and hassle free. They need to keep the interest rate in par with the market rate.
      Was this review helpful? 1
      , bangalore
      Reviewed on Aug 28, 2018
    • Kotak Personal Loan
      "ROI and charges very high"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan with Kotak Mahindra Bank. The customer services and response is good. There are no issues in the process. They have provided the loan on time. But they have offered a very high rate of interest which is of 22% and the processing fee is high too. It is recommended only in an emergency.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Aug 28, 2018
    • Kotak Personal Loan
      "Good. Can do better"
      0.5 3.0/5 "Satisfactory"
      My personal loan is with Kotak Mahindra Bank. The customer services and response is okay, but could have been more better if they were quick. Since the documentation was not signed there was a delay. The rate of interest offered to me is of 10.99%.
      Was this review helpful? 2
      , bangalore
      Reviewed on Aug 27, 2018
    • Kotak Personal Loan
      "Good loan"
      0.5 4.0/5 "Great!"
      Processing and documentation was easy, there was no issues in processing the documents, i feel like rate of interest in normal, also there was no issues in transferring the funds to my account, over all everything is fine and customer service is a also good with them its good.
      Was this review helpful? 0
      , chennai
      Reviewed on Aug 25, 2018
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