Kotak Mahindra Bank Personal Loan

Note: Rates as of 12th September 2025

Apply for Kotak Personal Loan

*Applicable for selected customers

Kotak Mahindra Bank Personal Loan Interest Rates

Kotak Bank Personal Loan interest rates start from 9.98% p.a. onwards. While the bank has not disclosed the differential interest rates for its personal loan applicants based on credit-score, occupation, income or other parameters, lenders usually consider monthly income, job profile, employer’s profile, credit score, etc. of their loan applicants for setting their personal loan interest rates.

Kotak Personal Loan Processing Fees and Charges

Compare the personal loan processing fees charged by top lenders

Types of Kotak Mahindra Bank Personal Loans

Eligibility for Kotak Mahindra Personal Loan

Stated below are the personal loan eligibility for availing a personal loan from Kotak Mahindra Bank:-

For Personal Loan Up to Rs 25 lakh

• Salaried applicants working in an MNC or a public/private limited company are eligible for a Kotak Mahindra Bank Personal Loan.
• 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: 730 or above

For Personal Loan Overdraft

• The age of the applicant should be 21 years to 58 years
• The applicant should have a minimum CIBIL score of 730
• 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 70,000 for Non-Kotak salary account holders from non-tier 1 cities

For Pre-Approved Personal Loan

• The applicant is an existing Kotak Mahindra Bank customer and has maintained a positive relationship with the bank.
• The applicant has a credit score of 750 and above.
• The minimum monthly income required to apply for a preapproved personal loan is Rs 25,000.
• The applicant has maintained a record of timely payments of existing loans or credit card bills without defaults.

For PayDay Loan

• Salaried applicants working in MNC, public or private limited company are eligible.
• The age of the applicant should be 21 years to 58 years.
• The minimum net monthly income for Kotak Bank Salary Account holders is Rs 10,000.

For Personal Loan Balance Transfer

• The age of the borrower should be 21 years to 60 years.
• Salaried applicants having a minimum 1 year of working experience at a reputed firm are eligible.
• The monthly income should be a minimum of Rs 20,000 to avail Kotak Bank Personal loan balance transfer.
• The borrower should have a 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.

Documentation Required for Kotak 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

Why Apply for Personal Loans at Paisabazaar?

• Offers from Top Lenders: 30+ partner Banks/NBFCs/Fintechs provide the best available loan at one place.
• Compare & Choose: You can check and compare loan offers from top banks, NBFCs and fintechs, and choose the best option with a click of a few buttons.
• Personalized solutions & certainty of approval: On Paisabazaar, personal loan offers are ranked according to your credit score and other eligibility factors. This helps in choosing the best offer for which certainty of loan approval is the highest.
• Pre-Approved Loans: You get pre-approved personal loan offers based on your credit health from time to time. These options come with low processing fees, low interest rates and almost no documentation.
• Unbiased advice: In case of queries or need for assistance, Paisabazaar’s team of experts can be of great help in coordinating with lender Banks/NBFCs and help in getting the most-suited personal loan.
• Complete Digital Process: As a digital-only organization, Paisabazaar.com provides a completely digital experience. It helps you to avail personal loans from the comfort of your homes with almost no paperwork and a completely digital experience.
• Document Pickup: In case physical documentation is required, Paisabazaar representatives pick documents from your location on a mutually agreed date and time after you apply for the loan. You are not required to physically visit the lender to submit your documents as Paisabazaar will do the needful for you – At no extra cost.
• End-to-end Assistance: Right from looking out for a loan option to getting the sanctioned loan amount in your bank account, Team Paisabazaar remains with you and works in the background with the lenders, to give you a wonderful experience.

Kotak Personal Loan EMI Calculator – How Much Will You Pay

To help you plan your repayments, here are sample EMI amounts based on different loan amounts, with a tenure of 5 years and an interest rate of 12.00% p.a..

How to Improve Chances of Kotak Personal Loan Approval

• Check the personal loan eligibility criteria before applying for a personal loan from Kotak Mahindra Bank.
• Maintain a credit score of 730 or above as set by the bank. Making timely repayments, periodically checking your credit report and managing credit responsibly can help improve your credit score.
• Submit complete and accurate documentation, such as identity proof, recent salary slips, bank statements and address proof.
• If you’re new to your job, it’s best to wait until you’ve completed the required work experience before applying for a Kotak Mahindra Bank personal loan.

Kotak Mahindra Bank Personal Loan vs Other Banks

FAQs on Kotak Bank Personal Loan

How much personal loan can I get from Kotak Mahindra Bank on a Rs 30,000 salary?

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

Can I increase my Kotak Mahindra Bank personal loan amount after approval?

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.

What is the maximum personal loan amount I can get from Kotak Mahindra Bank?

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 20 lakh, subject to the applicant’s credit profile and the lender’s policies.

What is the personal loan processing fee charged by Kotak Mahindra Bank?

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

How long does it take Kotak Mahindra Bank to disburse a personal loan?

Kotak Mahindra Bank offers personal loan approval and disbursal within 24-72 hours of submitting the loan application and required documents. However, the bank also sanctions pre-approved personal loans within minutes through a complete digital process.

How long does it take for the disbursal of Kotak Mahindra Bank Personal Loan?

Kotak Mahindra Bank offers personal loan approval and disbursal within 48 hours of submitting the loan application and required documents. However, the bank also sanctions instant personal loans in just 3 seconds with minimal documentation.

What factors affect the interest rates of Kotak Mahindra Bank Personal Loan applicants?

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.

Are there any restrictions on foreclosing the personal loan account at Kotak Mahindra Bank?

The personal loan account can be foreclosed after 12 months of loan disbursal subject to prepayment charges of 4%. Ensure to know about the pros and cons of personal loan prepayment before prepaying your personal loan.

What is the minimum credit score required to avail personal loan from Kotak Mahindra Bank?

The applicants should have a credit score of 730 and above to avail personal loan from Kotak Mahindra Bank.

Can my credit score influence the personal loan interest rate?

Yes, your credit score can influence your personal loan interest rate. As a higher credit score indicates higher creditworthiness and lower credit risk for the lender, lenders usually set lower interest rates for loan applicants having higher credit score.