Kotak Mahindra Bank Personal Loan Interest Rates

Kotak Mahindra Bank offers personal loan at an interest rate of 10.99% p.a. onwards for loan amount up to Rs. 35 lakh with repayment tenure up to 6 years. However, at Paisabazaar, Kotak Mahindra personal loan is offered at a special rate starting from 9.98%. While the bank has not disclosed the distinctive personal loan interest rates for its various personal loan schemes based on the applicants’ credit score, occupation, income, employer’s profile and other parameters, most lenders usually consider these factors for setting their personal loan interest rates.

Personal Loan Interest Rates by Other Banks/NBFCs

*Paisabazaar special rates

Note: Rates as of 5th January, 2026

Let us talk about the important factors that influence interest rates of Kotak Mahindra Personal Loan applicants.

Monthly Income

Kotak Mahindra Bank has set the minimum monthly income requirement for availing personal loans as follows:

• Corp Salary borrowers: Rs. 25,000
• Non-Corp Salary borrowers: Rs. 30,000
• Kotak Mahindra Bank employees: Rs. 20,000

While the bank has not stated the differential Kotak Mahindra Bank Interest Rate based on the monthly income of its applicants, many lenders consider offering lower interest rates to loan applicants with higher income as they have lower credit risk due to their higher repayment capacity.

Credit Score

While the bank has not disclosed the role of credit score in offering Kotak Mahindra Bank Personal Loan Interest Rate,  many lenders prefer offering lower interest rates to applicants with credit scores of 700 or above. So, the best course of action is to improve your credit score by timely repaying your credit card bills and EMIs, avoiding multiple credit card applications or loans within a short period and maintaining minimum credit utilisation ratio. This will also help improve your eligibility for personal loans, credit cards, home loans and other such lending facilities.

It is also important to know that errors in the credit report can lower your credit score. So, make sure to check your credit reports at regular intervals, identify such errors and take necessary measures to avoid this from happening. Lower credit scores may also reduce your chances of availing lower Kotak Mahindra Bank Personal Loan Interest Rates.

Existing Relationship with the Lender

While the bank has not disclosed if it offers favorable Kotak Mahindra Bank Personal Loan Interest Rates to its existing customers, many lenders offer personal loans at concessional interest rates to applicants who already have a lending or deposit account with them. So if you are planning to avail personal loans, consider contacting the banks/NBFCs with whom you have an existing banking or lending relationship. Compare the interest rates offered by those lenders with the Kotak Mahindra Bank personal loan interest rate. Also ensure to visit online financial marketplaces to compare the interest rates offered by other lenders as well.

Employer Profile

While the Kotak Mahindra Bank considers the occupation profiles and employers’ profiles of its personal loan applicants while evaluating their loan eligibility, the bank has not disclosed personal loan interest rate matrix based on occupation or employment profile.

However, many lenders also take account of the employer profile of their loan applicants when setting their personal loan interest rates. Usually, they offer personal loans to salaried applicants at lower interest rates than those set for personal loans offered to self-employed applicants. Lenders also offer lower interest rates to salaried applicants of PSUs and governments as they have higher income and job security.

Moreover, personal loan applicants of MNCs and reputed private sector organisations also enjoy lower interest rates as they are better at managing economic downturns than applicants of private sector organisations. This is another reason why Kotak Mahindra Bank Personal Loan interest rates should be compared with personal loan interest rates of other lenders to enquire if the loan applicant is eligible for availing personal loan interest rates due to their occupation or employers’ profiles.