Kotak Mahindra Bank 30 Lakh Personal Loan

• Rate of Interest starting from 9.98% p.a.
• No need for any security or collateral
• Hassle-free documentation
• Video KYC done using Aadhaar card
• Affordable and easy repayment option
• Up to 72 years of repayment tenure

• 21-60 years old
• Salaried individual in Pvt Ltd / Public Ltd / MNC
• Income of Rs. 25,000 (Kotak Mahindra A/c Holder) or Rs. 30,000 (Non-Kotak A/c Holder)*
• Graduate/Diploma educational qualification
• Minimum of a year of work experience
• CIBIL score of 730+

*The minimum income requirement may vary depending on the loan amount.
Also read: Use a Personal Loan Eligibility Calculator online to plan better.

• e-KYC verified Aadhar, driver’s license, voter ID card, passport, and PAN card as ID proof.
• e-KYC verified Aadhar, utility bill, leave & license agreement, passport as address proof.
• Income tax return, salary slips of the last 3 months as income proof
• Bank statements of the last 3 months.

Also Read: What are the documents required for a personal loan?

• Up to 5% of the loan amount, along with taxes, as processing fees
• 750 per instance + taxes as EMI Bounce Charge
• Up to 4% as foreclosure charges
• Swap charges, i.e. charges for a change in repayment mode, repayment instrument, or EMI date Rs. 500/- plus taxes per instance
• Legal charges at actuals 

• Review existing lender offers: Check the personal loan deals from banks or NBFCs where you already hold a deposit account, loan, or credit card.
• Compare across lenders: Visit online financial marketplaces like Paisabazaar to compare interest rates, eligibility criteria, and loan features offered by multiple banks and NBFCs.
• Assess loan tenure: Ensure the repayment period offered matches your financial comfort and repayment capacity.
• Check additional charges: Compare processing fees, administrative charges, or login fees levied by different lenders.
• Review prepayment terms: Look at foreclosure/prepayment charges and any restrictions on making early repayments.
• Evaluate disbursement speed: Confirm that the lender’s turnaround time for loan approval and disbursal aligns with how quickly you need funds.