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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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Instant Personal Loan

Get up to ₹50 Lakhs starting at 9.98%

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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
ICICI Bank
100% Digital Process*Quick Disbursal
Max Loan Amt.Upto ₹25L
Rate of Interest11% - 13%
Tenure upto1-5 Years
Processing FeeUpto 2%
Axis Bank
Low Processing fee
Max Loan Amt.Upto ₹25L
Rate of Interest9.99% - 17.15%
Tenure uptoUpto 6 Years
Processing FeeUpto 2%

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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 Personal Loan Lenders

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FAQs

The Kotak Mahindra personal loan interest rate starts from 9.98% p.a. The final interest rate for a Rs. 20 lakh personal loan depends on factors such as your credit score, income stability, bank relationship, and repayment capacity.

To be eligible for a Rs. 20 lakh personal loan from Kotak Mahindra Bank, you must be between 21-60 years, have a high monthly income, possess a graduate/diploma qualification, and have a CIBIL score of 730 or above.

The tenure for a Kotak Mahindra Rs. 20 lakh personal loan can be up to 6 years, allowing borrowers to repay in affordable EMIs over a flexible period.

No, Kotak Mahindra Bank personal loan is an unsecured loan, meaning you can avail a Rs. 20 lakh personal loan without pledging any collateral or security.

The loan processing fee for Kotak Mahindra personal loan can go up to 5% of the loan amount plus taxes. This fee is non-refundable and deducted at the time of loan disbursal.

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20th Jan 2026Jan 20, 2026

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Travel ke liye personal loan liya tha

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Tarini RoyJan 14, 2026

Easy personal loan available

Took personal loan. Good experience.

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Ruchika TiwariJan 14, 2026

Stress-free Laon Borrowing Process

There was a complication with my KYC verification. Paisabazaar’s Shazeb handled it swiftly and professionally. He ensured that I received regular updates, explained the resolution steps clearly, and most importantly, resolved the issue quickly. His prompt assistance and communication made the entire experience smooth and stress-free. Thanks to his efforts, the loan process was completed without further delays.

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Abhishek ThakuraJan 14, 2026
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