| Interest rate | 10.99% p.a. onwards |
| Loan amount | Rs 50,000 to Rs 25 lakh |
| Repayment tenure | 1 to 5 years |
| Processing fee | Up to 3% of the loan amount |
Note: Interest rates as on 19 September 2024
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| Interest rate | 10.99% p.a. onwards |
| Loan amount | Rs 50,000 to Rs 25 lakh |
| Repayment tenure | 1 to 5 years |
| Processing fee | Up to 3% of the loan amount |
Note: Interest rates as on 19 September 2024
Kotak Mahindra Bank offers marriage loans starting from 10.99% p.a. While the bank has not disclosed the differential interest rates for its marriage 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.
Also Read: How you can build or rebuild your credit score with Step UP Credit Card co-branded with SBM Bank India Ltd.
Kotak Mahindra Bank charges a processing fee of up to 3% of the loan amount for marriage loans.
| Foreclosure charges | Up to 3 years – 4% on outstanding principalAfter 3 years – 2% on outstanding principal |
| Part-prepayment charges | Rs 500 per instance |
| Stamping charges | As per respective State’s Stamp Act |
| Overdue Interest | 3% per month |
| Credit Appraisal Charges | Up to 5% of loan amount, up to Rs 7,500 + GST |
| Credit Administration Charges | Up to 5% of loan amount, up to Rs 7,500 + GST |
| Collection Charges | 30% + GST of cheque /instrument dishonor charges + overdue interest |
| Dishonor Charges per instance | Rs 750 + GST |
| Copy of CIBIL | Rs 50 + GST |
Kotak Mahindra Bank has not set any specific eligibility criteria for availing marriage loan. However, for most lenders, the eligibility criteria set for marriage loans are usually the same as regular personal loans. Mentioned below are the eligibility criteria set for availing Kotak Mahindra Bank Personal Loan:
Additionally, just like other lenders, Kotak Bank may also consider the credit score for evaluating the eligibility of its personal loan applicants
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Paisabazaar is a loan aggregator and is authorized to provide services on behalf of its partners.
The APR (Annual Percentage Rate) of a personal loan is its annualised cost of borrowing, which includes the interest rate as well as the processing fees, documentation fees and other fees charged during the loan origination. The APR is expressed in the form of a percentage and thus, allows personal loan applicants to detect personal loan schemes offered at lower interest rates but with higher processing fees and/or other charges.
The APR of personal loans usually ranges between 11.29% to 35%. For example, assume that you have availed a personal loan of Rs. 5 lakhs @ 10.50% p.a. with a repayment tenure of 5 years. The processing fee charged for this loan is 1.5% of the loan amount, which amounts to Rs 7,500. Therefore, the total borrowing cost of your personal loan will be Rs 1,52,317 and its APR will be 11.16%.
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Get up to ₹50 Lakhs starting at 9.98%*
Get up to ₹50 Lakhs starting at 9.98%*

Get up to ₹50 Lakhs starting at 9.98%