Multiple banks. Different interest rates. Call it a "conflict of interest".
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 2393 Users
    Personal Loan BYTES FROM OUR KITCHEN

    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
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I had the great experience with the Kotak mahindra bank for the personal loan, which got disbursed. Response is very quick and am very happy with them. I would like to say that the rate of interest is around 16%. I am happy with the Kotak mahindra bank credit card.
      Was this review helpful? 0
      , greater noida
      Reviewed on Jan 17, 2018
    • Kotak Personal Loan
      "Need to be quick and fast"
      0.5 2.5/5 "Just OK"
      Initially the Kotak mahindra bank promised that they will disburse the loan amount within 4 days of time but they failed to do it, they took around 20days of time. Even I have submitted the documents on time before the time frame. The customer support and their executives need to be quick and fast in their process.
      Was this review helpful? 0
      , pune
      Reviewed on Jan 17, 2018
    • Kotak Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      The kotak mahindra bank had given me good response in regards to my personal loan application. The customer support told that they don't have option to upload the documents through online so they personally asked me to come and visit their bank to get the loan amount. The response was really good with kotak mahidndra bank. I am satisfied with the kotka mahindra bank service.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Jan 16, 2018
    • Kotak Personal Loan
      "Good service with the High interest"
      0.5 3.0/5 "Satisfactory"
      The kotak bank has offered me a personal loan based on my credit card. They have disbursed the loan amount with in 3days of time. I am satisfied with the loan amount because they have approved the required loan amount. The rate of interest and the charges were high when compared with others.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 16, 2018
    • Kotak Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      The paper work was done in quick time. The rate of interest is bit high when compared with others. The customer support and the response was good with the Kotak Mahindra bank. They have disbursed the loan amount in 2 weeks of time. They could have provide within a week time, but the documentation process took some time.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jan 16, 2018
    • Kotak Personal Loan
      "very good service"
      0.5 5.0/5 "Blown Away!"
      I have my personal loan application approved with Kotak Mahindra bank and the experience was good. The loan amount is for Rs 3.9 lakhs with the rate of interest of 14.65% which is bit high when compared to all other banks. The process was smooth and i received my loan amount within 1 week. I am not aware of the processing fees and the tenure of this loan is 5 years. Customer service was good and they collected documents on time.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 15, 2018
    • Kotak Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      My Personal loan experience with Kotak Mahindra bank was quite good, the process was very smooth and i received my loan amount within 1 week. The loan amount i requested for is Rs 2 lakhs and the rate of interest is 10.99% which is nominal when compared to other banks. Customer service was good and they collected documents on time. The tenure of this loan is 4 years and it was a good service overall from KMB.
      Was this review helpful? 0
      , ghaziabad
      Reviewed on Jan 15, 2018
    • Kotak Personal Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      My Personal loan experience with Kotak Mahindra bank was average, the process was quite long and the documents were not collected on the exact venue. When it comes to customer service, it was good and they responded on time. I did not get any alerts on the status of the application. The rate of interest of 10.99% is nominal when compared to other banks. The requested amount was disbursed and the tenure of this loan is 2 years.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 15, 2018
    • Kotak Personal Loan
      "Prcocess needs to be faster"
      0.5 3.0/5 "Satisfactory"
      My personal loan was taken with Kotak Mahindra Bank. The rate of interest was normal like other banks. I took 1,96,000 rupees as a personal loan. I am paying monthly 18,000 through ECS. The documents are submitted online. I got a proper response but the process was very slow. They took more than 20 days for the loan disbursement.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jan 13, 2018
    • Kotak Personal Loan
      "Good"
      0.5 4.0/5 "Great!"
      The loan process was fine with Kotak Mahindra Bank. They offered a nominal interest rate for the personal loan. The customer service and response was good. They offered me 18L but I had taken only 5L. I am paying monthly around 16K through ECS and cheque. The only problem is I haven't received my loan id yet.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jan 11, 2018
    • Kotak Personal Loan
      "Interest rate to be reduced"
      0.5 3.0/5 "Satisfactory"
      The loan process was good with Kotak Mahindra Bank. They took 3 week for the approval. The rate of interest was 14.5% and the processing fee was around 2000 to 3000 rupees. The executive had explained all the things very clearly. The interest rate was little bit more compared to other banks.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 11, 2018
    • Kotak Personal Loan
      "Good"
      0.5 4.0/5 "Great!"
      The rate of interest was 16% for my personal loan which was nominal. They charged 6000 rupees as a processing fee. I had taken 2L with Kotak for 3 years. The documents are collected by the executive at doorstep. The customer service and response was good.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 11, 2018
    • Kotak Personal Loan
      "Satisfactory"
      0.5 4.0/5 "Great!"
      I am happy with kotak service on my personal loan. The customer service and response was good. They offered a interest rate of 10.9% compared to other banks which was low. I have taken around 3L with tenure period of 5years. I had to pay 6K every month through ECS.
      Was this review helpful? 0
      , noida
      Reviewed on Jan 10, 2018
    • Kotak Personal Loan
      "Personal loan with KOTAK "
      0.5 4.0/5 "Great!"
      I have taken a personal Loan from Kotak.The approved loan amount was 4 lakhs 91 thousand. The given rate of interest was 10.9%. The monthly EMI comes around 13461. the total tenure is for48 months. They have taken a insurance amount of 10000.There was some processing fees.When i received the document they have given the loan amount as 512605. However insurance amount was paid from my end.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jan 10, 2018
    • Kotak Personal Loan
      "Need to reduce the charges"
      0.5 3.5/5 "Pretty good"
      My personal loan was taken with Kotak through online channel. They are checking more on cheque bounce. The customer service and response was moderate. The rate of interest was 14% and the processing fee was very high. The loan was disbursed within one or two days.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 10, 2018
    • Kotak Personal Loan
      "Good"
      0.5 4.0/5 "Great!"
      Experience with the Kotak mahindra bank for the personal loan was around 14% and the response was all good. The loan amount got disbursed within a month of time. Everything is fine one for me with the Kotak mahindra bank and am really happy with the Kotak mahindra bank.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 10, 2018
    • Kotak Personal Loan
      "Very good"
      0.5 3.5/5 "Pretty good"
      My personal loan was taken with KOTAK BANK . The loan amount was 1.5 lakhs and the Interest rate was 14.49% which was bit high than other banks . The EMI period was 3 years . The processing fee was also high here. I had a very smooth and quick loan process here .
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 10, 2018
    • Kotak Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I have my personal loan with KOTAK BANK. The loan amount was 3,5 lakhs and the Interest rate was 12% which was average In the market. The tenure period was 5 years . The processing fee was nominal but I was not Informed about it . It was a smooth process here so I would like to recommend to others.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jan 10, 2018
    • Kotak Personal Loan
      "Personal loan with KOTAK MAHINDRA"
      0.5 3.0/5 "Satisfactory"
      I have taken a personal loan from KOTAK MAHINDRA BANK and the approved loan amount was 2 lakhs. The rate of interest was 10.99% with a monthly EMI of 6700. The total tenure was for 3 years. the processing fee was around 2000 rupees.The loan process was too long.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 09, 2018
    • Kotak Personal Loan
      "Better service"
      0.5 4.0/5 "Great!"
      My personal loan was taken with KOTAK BANK. The loan amount was 2 lakhs and the interest rate was 16.99% which was very high than other banks in the market. The loan process was very good and the loan was approved on time. They have provided door step service for collecting documents,.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jan 09, 2018
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