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Kotak Mahindra Bank 20 Lakh Personal Loan

When it comes to borrowing, the right loan makes all the difference. Choosing a loan that comes with flexible EMIs, easy application and lower interest rate can make your loan journey stress-free. Apply for a Kotak Mahindra Rs. 20 personal loan through Paisabazaar and get funds disbursed in your account swiftly.

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HDFC Bank
10 Second Disbursal*100% Digital Process*Quick Disbursal
Max. Loan Amt.Upto ₹25L
Rate of Interest9.99% - 12.5%
Tenure upto1-5 Years
Processing Fee₹ 6,500
Axis Bank
Low Processing fee
Max. Loan Amt.Upto ₹25L
Rate of Interest9.99% - 17.15%
Tenure uptoUpto 6 Years
Processing FeeUpto 2%
Kotak Mahindra Bank
Lowest Income requirement100% Digital Process*
Max. Loan Amt.Upto ₹25L
Rate of Interest9.98% - 17.2%
Tenure upto1-5 Years
Processing Fee1.1% - 1.5%

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How Can I Apply for a Personal Loan Online?

Get up to ₹40 Lakh in 5 Simple Steps

Step 1: Enter your mobile number in the application form

Step 2: Provide your personal details

Step 3: Enter OTP to verify your mobile number

Step 4: Select the loan purpose and loan amount

Step 5: Compare offers and apply for the best-suited loan

Features of Kotak Mahindra Rs. 20 Lakh Personal Loan

Listed below are the features of a Kotak Mahindra Rs. 20 lakh personal loan:

  • Competitive Interest Rate: Rate of Interest starting from 9.98% p.a.
  • No Collateral: Get a personal loan online without the need for any security
  • Digital KYC Process: Easy and quick documentation with video KYC done using the Aadhaar card
  • No Stress EMIs: Affordable repayment options with EMIs that fit your budget seamlessly
  • Longer Tenure: Up to 6 years for ease of repayment

Kotak Mahindra Rs. 20 Lakh Personal Loan: Interest Rate

Kotak Mahindra Bank Personal loan interest rate starts at 9.98% p.a. It is important to note that the final rate of interest on a Kotak Mahindra Rs. 20 lakh personal loan will be decided after taking into consideration multiple factors, including:

  • Credit score & credit history: Preferred above 730
  • Income and job stability: Important to develop trust in your repayment capacity
  • Existing Financial Obligations: Preferred EMI/NMI ratio up to 50-55%, including the existing EMIs and EMIs of the proposed personal loans
  • Bank Relationship: Existing bank relationship helps land lower personal loan interest rates.

Kotak Mahindra Rs. 20 Lakh Personal Loan: Eligibility Criteria

You are eligible if you have:

  • Age 21–60 years
  • Salaried job in MNC / Pvt Ltd / Public Ltd
  • Monthly income of ₹25,000 (Kotak A/c) or ₹30,000 (Non-Kotak A/c)
  • Graduate/Diploma qualification
  • At least 1 year of work experience
  • CIBIL score of 730+

You can also try Paisabazaar's Online Personal Loan Eligibility Calculator to know your eligibility for personal loan offers.

Documentation Required for Kotak Mahindra Rs. 20 Lakh Personal Loan

Document Type Accepted Documents
Identification Proof e-KYC authenticated Aadhaar, Passport, Aadhaar Card, Driver’s License, Voter ID, PAN Card
Residential Proof e-KYC authenticated Aadhaar, Passport, Utility Bill, Leave & License Agreement
Income Proof Salary slips (last 3 months), Income Tax Return
Banking Proof Bank statements (last 3 months)

Know more about Personal Loan Documents Required

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Kotak Mahindra Rs. 20 Lakh Personal Loan: Fees and Charges

Charge Type Details
Loan Processing Fee Up to 5% of the loan amount + taxes (non-refundable). Deducted at the time of disbursal.
Stamp Duty As per the applicable State Stamp Act.
Penal Charges on Overdue EMI 8% per annum + taxes on the overdue amount (calculated for the actual overdue days).
EMI Bounce Charges ₹750 per instance (inclusive of taxes).
Foreclosure Charges Up to 4% + taxes

How to Reduce EMI Amount on a Personal Loan

If your personal loan EMIs feel heavy, here are some practical ways to bring them down:

  • Opt for a balance transfer: Shift your loan to a lender offering a lower interest rate to reduce your EMI right from the start.
  • Make partial prepayments: Whenever possible, pay a lump sum towards the loan to cut down the outstanding principal and future EMIs.
  • Choose a step-down EMI plan: Repayments start higher and reduce over time, ideal for those approaching retirement.
  • Use online loan calculators: Plan your EMIs in advance using an online personal loan EMI calculator to make a well-informed decision.
  • Manage debt wisely: Keeping other borrowings in check ensures your personal loan stays manageable and stress-free.

How Can I Apply for a Personal Loan Online?

Get up to ₹40 Lakh in 5 Simple Steps

Step 1: Enter your mobile number in the application form

Step 2: Provide your personal details

Step 3: Enter OTP to verify your mobile number

Step 4: Select the loan purpose and loan amount

Step 5: Compare offers and apply for the best-suited loan

Explore Our Kotak Mahindra Bank Lenders

HDFC BANKHDFC BANKAxis BankAxis BankKotak Mahindra BankKotak Mahindra BankICICI BankICICI BankFederal BankFederal BankIDFC First BankIDFC First BankIndusind BankIndusind BankRBL BankRBL BankTata CapitalTata Capital
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What our customers say

Highly recommended platform

I applied for a personal loan for medical emergency through Paisabazaar and got amazing service like nowhere else. The team was extremely cooperative and followed up with me until I had my loan amount in my account. My loan was disbursed within 24 hours. It is indeed an excellent platform for taking loans.

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Sunil YadavOct 29, 2025

Instant loan disbursal

I applied for a personal loan through Paisabazaar and got my loan disbursed in no less than 24 hours. The team was extremely cooperative, guided me through the entire process and followed up with me until I had my loan amount in my account. I highly recommend this platform to everyone looking for an urgent loan.

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Neha JainOct 29, 2025

Excellent platform

Excellent platform for personal loan comparison! Their EMI calculator helped me pick the best tenure & my monthly emi.

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Manish KumarOct 23, 2025

Got personal loan instant

I was a medical emergency &amp; need funds instantly I applied for loan at Paisabazaar &amp; see I have a pre approved offers &amp; apply to it &amp; amount disbursed in 48 hours thanks to paisabazaar teams

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Mansi SharmaOct 17, 2025

Got loan yesterday

I got a loan of 2 lakh from Paisabazaar. Until now, I didn&#x27;t know that it was so easy to get loan through Paisabazaar. They helped me with all documents and process and my loan was sanctioned yesterday itself.

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Priyanka SharmaOct 15, 2025

Got personal loan in a few minutes

I had pre-approved offers. When I applied through Paisabazaar, I got my personal loan approved within a few minutes. The process was very hassle-free and the team was extremely cooperative.

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Preeti SinghSep 26, 2025

Cibil kam tha fir bhi loan dila diya

Mera cibil kam tha fir bhi paisabazaar walo ne loan dila diya mujhe jo bohot jaruri tha.

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Pawan SehrawatSep 25, 2025

Personal loan quick approved

My personal loan was quick approved on Paisabazaar. Everything was online and I was not required to submit any more documents.

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Vivaan ShahSep 24, 2025

Loan Approved in on day

I confused between HDFC & Axis personal loans, but Paisabazaar showed me all the offers side by side. I apply in 10 minutes and got approval the next day!

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Rahul MehtaSep 23, 2025

Personal loan mila yahaan se

Mujhko personal loan mila yahaan se bina koi dikkat hue. Maine toh online apply kiya aur 3 lakh ka loan mila 2 saal ke liye.

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Pankaj SinhaSep 22, 2025
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