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Kotak Mahindra Personal loan

Kotak Mahindra Bank provides personal loans of up to Rs. 25 lakh with interest rates starting from 9.98% p.a for tenures of up to 5 years. Kotak Mahindra Bank personal loan offers fast loan disbursal, part-prepayment facility and simplified documentation for a seamless personal loan journey. Apply for a Kotak Mahindra personal loan on Paisabazaar for the best personal loan deals.
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Instant Personal Loan

Get up to ₹50 Lakhs starting at 9.98%

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15.6L Reviews

5.7cr+Satisfied Customers
65+Lending Partners
₹65k Cr+Loans Disbursed
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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 Fee6,500
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

Apply Now

About Kotak Mahindra Bank Personal Loan

  • Kotak Mahindra Bank offers personal loans at low interest rates depending on the applicant’s credit profile.
  • Individuals applying through Paisabazaar can avail special personal loan interest rates starting from 9.98% p.a. onwards.
  • The lender offers easy documentation with video KYC using Aadhar card.
  • The loan is designed to manage the planned and unplanned personal expenses of the applicants.
  • Kotak Mahindra Bank offers pre-approved personal loans with instant loan disbursal and zero documentation.

Kotak Mahindra Bank Personal Loan

Kotak Bank Personal Loan interest rate starts from 9.98% p.a. Lenders usually consider factors such as the applicant’s monthly income, job profile, employer’s profile, and credit score while determining the final personal loan interest rate.

Latest Personal Loan Interest Rates by Various Lenders

Bank/NBFCInterest Rates (% p.a.)
Aditya Birla Finance10.99 onwards
Axis Bank9.99 onwards*
Bank of Baroda10.15-18.00
Bajaj Finance Limited10.00-30.00
Bank of India10.85-16.15
Bank of Maharashtra8.75-13.55
Canara Bank9.70-15.15
Central Bank of India9.85-11.65
Cholamandalam IFC10.00-28.00
Dhani Loans & Services Ltd.13.99 onwards
Federal Bank12.00 - 22.50*
HDB Financial Services10.00 - 35.00
HDFC Bank9.99 onwards
Hero FincorpUp to 30*
HSBC Bank9.75 onwards
ICICI Bank9.99 onwards
IDFC FIRST Bank9.99 onwards
IIFL Finance12.00 - 28.00
Indian Overseas Bank10.25 onwards
IndusInd Bank10.35 onwards*
Kotak Mahindra Bank9.98 onwards*
L&T Finance11.00 onwards
Mahindra Finance8.00 - 25.00
Mannapuram Finance18.00 - 24.00
Moneyview14.00 onwards
Muthoot Finance13.50 onwards
Piramal Finance12.14 onwards
Poonawalla Fincorp9.99 onwards
Punjab & Sind Bank9.60-13.85
Punjab National Bank10.25-16.80
Shriram Finance11.00 onwards
Tata Capital10.99 onwards
UCO Bank9.95 - 13.20
Union Bank of India8.75 - 12.55
Note: Rates as of 1st May 2026

Types of Kotak Mahindra Bank Personal Loans

Types Purpose Loan Amount Tenure
Kotak Bank Personal Loan (Up to Rs. 25 lakh) For managing expenses related to wedding, marriage, home renovation, etc. Up to Rs. 25 lakh Up to 5 years
Kotak Bank Personal Loan Overdraft For salaried applicants to manage unexpected financial needs Rs. 1 lakh – Rs. 20 lakh Up to 5 years
Kotak Bank Pre-approved Personal Loan For eligible salaried Kotak customers to meet expenses like education, wedding, home repairs, travel, scooter, etc. Not specified Up to 4 years
Kotak Bank Personal Loan Balance Transfer For transferring an existing personal loan from other banks/NBFCs to Kotak at a lower interest rate Not specified Not specified

Eligibility for Kotak Mahindra Personal Loan

Stated below are the Kotak Mahindra personal loan eligibility criteria:

For Personal Loan Up to Rs. 25 lakh

  • Salaried applicants working in an MNC or a public/private limited company
  • Age Criteria: 21 to 60 years
  • The minimum monthly income requirement
    • For Kotak Bank Salary account holders: Rs. 25,000
    • For Non-Kotak Bank Salary Account holders: Rs. 30,000
  • Minimum Educational Qualification: Graduation/Diploma
  • Work experience: Minimum 1 year
  • CIBIL Score: 750 or above preferred

For Personal Loan Overdraft

  • Age: 21 years to 58 years
  • Credit score: 750 and above
  • Minimum take home salary requirements –
    • Rs. 50,000 for Kotak salary account holders
    • Rs. 1 lakh for Non-Kotak salary account holders from tier 1 cities
    • Rs. 75,000 for Non-Kotak salary account holders from non-tier 1 cities

For Pre-Approved Personal Loan

  • An existing Kotak Mahindra Bank customer with a strong relationship with the bank.
  • Credit score of 750 and above.
  • Minimum monthly income required Rs. 25,000.
  • The applicant has maintained a record of timely payments of existing loans or credit card bills without defaults.

For Personal Loan Balance Transfer

  • Age: 21 years to 60 years.
  • Minimum 1 year of working experience at a reputed firm are eligible.
  • Minimum of Rs. 20,000 monthly income for salaried.
  • Education: Graduate degree.
  • The personal loan borrower should be living in the city where he/she want to apply for the loan transfer for minimum 1 year.

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Documents Required for Kotak Mahindra Personal Loan

  • ID proofs like passport, Aadhar card, driving license, voter ID, PAN card
  • Residential proofs like passport, utility bill, leave and license agreement
  • Bank statement for past 3 months
  • 2-3 passport size photographs
  • Salary slip for last 3 months

Know more about Kotak Bank Personal Loan Documents

Kotak Personal Loan Processing Fees and Charges

Charge Type Applicable Amount
Loan processing fees (Non Refundable) Up to 5% of the final loan amount plus taxes.
Will be deducted from the loan amount at the time of disbursal.
Stamp Duty Charges As per the respective State’s Stamp Act
Penal charges on Overdue EMI Amounts standing unpaid on respective due dates shall attract penal charge at 8% per annum plus applicable taxes (to be charged for actual no. of days) on overdue amount.
EMI dishonour/Bounce charges Rs. 750 per instance (Inclusive of applicable taxes)
Lock-in period No lock-in period for Kotak Personal loans post payment of first EMI
Foreclosure charges Up to 3 years - 4% + taxes on outstanding principal
After 3 years - 2% + taxes on outstanding principal
Part pre-payment charges For loans disbursed on or before - 1st February 2020 - Part Pre payment is not allowed
For loans disbursed after 1st February 2020
Post completion of 12 months -Part-Prepayment is allowed up to 20% of Principal loan outstanding.
Allowed once a year.
Charge per instance of part payment is Rs. 500 plus taxes
Legal charges At actuals

Why Apply for Personal Loans through Paisabazaar?

  • Offers from top lenders
  • Compare & chooseloan offers from top banks, NBFCs and fintechs.
  • Pre-Approved loans
  • Complete digital process
  • Minimal documentation
  • End-to-end assistance

Do’s and Don’ts for a Personal Loan

While applying for a personal loan, it is recommended that borrowers follow certain best practices and avoid common pitfalls to enhance their loan approval chances and experience a smooth lending process.

Things to consider:

  • Check your credit score beforehand and act accordingly.
  • Plan your EMIs in advance using an EMI calculator
  • Keep your documents ready and up-to-date
  • Compare offers from different lenders at Paisabazaar

Pitfalls to avoid:

  • Don’t choose the first offer you get; always compare and choose after careful consideration
  • Don’t skip reading the fine print. Be thorough with all the terms and conditions
  • Don’t fall for headline offers on personal loans during the festive season. Be prudent while making a choice.

    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

    Apply Now

    Avail Personal Loan for
    All Your Needs

    Avail Personal Loan Banner

    Avail Personal Loan for
    All Your Needs

    FAQs

    Your eligibility for a Kotak Mahindra Bank personal loan will depend on factors such as your credit score, existing financial obligations, and employment stability. Check with the bank for your loan amount eligibility.

    Once a personal loan is approved and disbursed, increasing the loan amount is not allowed. However, you may apply for a top-up loan or check if you can apply for a new personal loan, subject to eligibility and repayment capacity.

    The maximum loan amount varies based on your eligibility criteria, including income, credit score, and repayment capacity. Kotak Mahindra Bank offers personal loans up to Rs. 25 lakh, subject to the applicant’s credit profile and the lender’s policies.

    Kotak Mahindra Bank charges a processing fee of up to 5% of the loan amount, plus applicable taxes.

    The interest rates for the applicants of Kotak Mahindra Bank Personal Loan would depend upon their age, credit score, minimum monthly income, job profile, repayment history, etc.

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    What our customers say

    Smooth & hassle-free loan approval experience

    I want to express my gratitude for your exceptional support & guidance throughout my loan application process to Aman (EW17239). Your professionalism & clear communication made the journey smooth and manageable. I appreciate how you helped during loan approval & fast-tracked the documentation. It is rare to find someone so committed to their clients. I truly value the effort you put into ensuring a successful outcome. Thanks again for your invaluable help.

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    Sanjay Kumar GuptaMar 30, 2026

    Exceptional guidance throughout the process

    I’d like to express my sincere appreciation for Mr. Aman Kumar (EW32023) for the excellent assistance provided. His professionalism & willingness to help made the experience smooth & pleasant. Aman Kumar demonstrated patience & clarity while addressing queries and ensured that everything was handled efficiently. Such dedication & customer-focused service truly deserve recognition. Please convey my thanks and appreciation to him for his outstanding support.

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    Jyotirmoy SinghaMar 23, 2026

    Very helpful and easy to reach

    I really wants to appreciate Mohankumar Dhandapani for closing my loan requirement in such a short time and nice manner. He is very much approachable helped me based on my requirements. He explained me all the options in very short time even one option failed immediately helped me to get other options worked. Excellent job done by Mohankumar Dhandapani all the best keep you same way approachable you will get more customers. Thanks to Paisabazar too.

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    Kirubagaran GanesanFeb 24, 2026

    Reliable help when i needed it most

    I am writing this email to express my sincere thanks for your excellent support and guidance on Paisabazaar. My experience was very smooth and satisfying because of your help. You explained everything clearly and made the whole process easy and comfortable for me. I truly appreciate your professionalism, patience, and quick response. I am very happy with the service and would definitely recommend to others because of the great support I received from you. Thank you once again

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    DharmeshFeb 22, 2026

    Committed support that made everything easy

    I’d like to appreciate the Paisabazar team for the excellent loan service. I especially want to recognize one of your agents, Mr. Prince Kumar, for his outstanding support. For more than a month, he continuously followed up with me and assisted me. His commitment & professionalism made the experience smooth & hassle-free. I appreciate his efforts and dedication. Kindly acknowledge his performance and consider rewarding such a sincere employee.

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    BhupendraFeb 18, 2026

    My Trust in Paisabazaar has Increased

    I would like to take a moment to share my sincere feedback regarding the support I received from your team. The executive who assisted me was extremely professional, polite, and knowledgeable. They patiently understood my concern, explained the process clearly, and guided me step by step toward the right solution. I truly appreciate the transparency, timely responses, and genuine effort shown to help me.

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    Lalit MaviFeb 12, 2026

    Best Place for Taking Loans

    I contacted customer care with a few queries, and I am very satisfied with the support I received. The representative was polite, patient, and explained everything clearly. My questions were resolved properly, and the overall experience was smooth and helpful. Thank you for the excellent customer service

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    Kokil BarnwalFeb 12, 2026

    Easy loan approval with good guidance

    Thank you for the support provided for getting personal loan approval. During this process I worked with Mr. Aman Bajpai (EW17239) who was co-ordinator for this entire process of Personal loan, I was incredibly impressed by his efficiency and problem-solving skills. He went out of their way to ensure all my questions were answered and that the disbursement timeline stayed on track. His coordination was really appreciable.

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    Riyaj AtarFeb 9, 2026

    Apne higher education ke liye loan liya tha

    Muhje higher education ke liye loan chahiye tha. Paisabazaar pe apply kiya. Got it at the right time. Quite helpful.

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    Puja DanuJan 22, 2026

    Sabse jada helpful log the yaha

    Maine bht jagah try kiya tha personal loan ka, yaha try kiya toh helpful log mille. Har steps mai aram se samjhaya or usse muhje loan lene mai jda dikkat nhi aayi.

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    Anuradha GuptaJan 21, 2026
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