Planning to have a grand wedding and falling short of cash? Don’t worry! Kotak Mahindra Bank Marriage Loan has got you covered. The loan will offer additional cash apart from your savings and you can deal with any type of wedding expenses easily. If you apply for Kotak Mahindra Bank Marriage Loan, you won’t have to deal with long procedures and bank visits as the process is conducted online from the comfort of your home or office.
Kotak Mahindra Bank Marriage Loan- Highlights
- Loan amount: You can avail Kotak Mahindra Bank Marriage Loan instantly that varies from Rs. 50,000 to Rs. 15 lakhs.
- Minimal paperwork: Offering minimal paperwork, the Kotak Mahindra Bank Marriage Loan ensures that the process is convenient and hassle- free.
- Flexible tenure: Ranging from 1 to 5 years, the tenures for the Kotak Mahindra Bank Marriage Loan offers complete flexibility to choose tenure as per your repayment ability.
- Quick disbursal of loan amount: After your loan is approved, the funds get transferred to your account within a few hours.
Kotak Mahindra Bank Marriage Loan- Interest Rate
At Kotak Mahindra Bank, you get to enjoy attractive rate of interest on marriage loan. The rate of interest varies from 10.99% to 24% p.a depending upon various factors like your repayment ability, age, income, employment, etc.
Kotak Mahindra Bank Marriage Loan- Eligibility Criteria
The basic eligibility criteria to avail Kotak Mahindra Bank Marriage Loan are:
- You should be a resident of India.
- Your age should be between 21- 58 years.
- Your net salary should be Rs. 20,000/- per month.
- You should at least have a bachelor’s degree.
- You should be an active resident of a city for at least 1 year.
- You should have a minimum work experience of at least 1 year.
Kotak Mahindra Bank Marriage Loan- Documents Required
To apply for Kotak Mahindra Bank Marriage Loan, following documents are required:
- Proof of Identity like Passport/ PAN Card, Aadhar card, Voter’s ID, Driving License
- Proof of Residence like Utility Bill, Passport or Leave and License Agreement
- Bank Statement for the last 3 months with income details
- Salary slip for the last 3 months
- 2-3 Passport Size photographs
How to apply for Kotak Mahindra Bank Marriage Loan?
Planning to take a loan for your wedding? If yes, apply through Paisabazaar.com for easy and hassle- free process. Paisabazaar is a financial platform where you can easily compare different Personal Loan offers along with their Interest Rate. All you need to do is fill a small form with mandatory information and with this you can apply for a Marriage Loan from Kotak Mahindra Bank in just no time.
Frequently Asked Questions (FAQ)
Ques: When can I foreclose the Personal loan? What is the procedure for full prepayment?
Ans: Prepayment is not allowed for a period of 12 months from the date of your first EMI. 30 days foreclosure intimation period is compulsory.
Ques: How much amount of marriage loan can I avail from Kotak Mahindra Bank?
Ans: You can avail marriage loan ranging from Rs. 50,000 to Rs. 15 lakhs.
Ques: What is the range of loan tenures offered?
Ans: The loan tenures offered for marriage loan vary from 1- 5 years.
Ques: What is the procedure for part prepayment?
Ans: Part prepayment facility on marriage loan is not allowed.
Ques: Can I change my installment date? Are there any charges applicable?
Ans: Yes, it is possible to change the installment date. The available dates are 5th and 10th of every month.