Kotak Personal Loan
Kotak Mahindra is one of the major private sector players in the Indian banking sector. It is presently the 4th largest private bank in terms of market capitalization in India. Established in 2003, Kotak Mahindra Bank holds the distinction of being the only financial services group (Kotak Mahindra Finance Ltd), to successfully foray into the banking sector in India.
About Kotak Mahindra Bank Personal Loan
Kotak personal loans are available for all Indian citizens between 21 years and 5 years. With Kotak Personal Loan, you are one step closer to the goals and dreams of meeting diverse financial needs. The loans may be availed for any personal reason such as holidays, weddings, educational fees, home improvement, buying durables, and lots more.
Why choose Kotak Personal Loan?
Kotak is among the reputed private sector banks operating in India. The bank, in its little over a decade of existence, has positioned itself well in the national banking arena, with more than 1,100 branches throughout the country.
Kotak Mahindra is a highly awarded bank. The innovative products and processes employed by the bank position it among the most tech-savvy organizations in the country. It has regularly won awards from top financial magazines and organizations, such as BusinessWorld (Best Medium Sized Bank 2013), CNBC TV1 (Innovative Usage of Data 2013), Outlook (Best Emerging Bank 2013), Campaign India Digital Crest Awards (Best Usage of Viral Marketing, First Twitter Banking Product, Best Digital Strategy), and many others.
Features of Kotak Mahindra Personal Loan
- Loans can be availed from a minimum of Rs. 50,000 up to a maximum of Rs. 15 lakhs.
- Flexible options for repayment, with loan periods extending up to 5 years.
- Prospective customers can opt for the ‘Bank Doorstep Service’ wherein they can get an appointment with the bank, which will then send a representative for any clarification and completing formalities.
- Competitive interest rates, and fast and hassle-free processing of applications.
- No collateral or security needed.
- Identity proof, 1 photograph, residential address proof, age proof, signature proof, ownership proof, income details, and last 6 months banking statements are required before applying for Kotak personal loan.
Why choose BankBazaar for Kotak Personal Loan application?
BankBazaar is the top personal loan information portal in India. The website offers a range of free services to visitors including loan and insurance information and comparison, application, and financial tools such as EMI Calculator.
Managed by people with advanced finance skills, BankBazaar provides calculated and highly precise results for all types of customers.
BankBazaar has a detailed section on Kotak personal loans where visitors can find information related to the various aspects of the loan such as interest rates, EMI amount, eligibility, best features, and so on. It is also the best place to compare if your choice is the best one, or if there are other options even more suited for you.
How to apply through BankBazaar for a Kotak Personal Loan?
BankBazaar offers a highly simplified loan application process. The whole process of searching for a loan, comparing loans from different providers, and finally getting redirected to the online registration page of company website (if any) can be done within a couple of minutes. All you have to do is click on the relevant options, and instantly you will be shown a list of all loans that are good for you. Some of the questions to answer include:
- Location
- Loan amount
- Workplace
- Salary credit information
- Working since
- Staying at
- Choice of EMI amount
Relevant options are provided after each question, and users have to select the answers best describing their preferences. Once this step is completed, users can view, compare, and apply for Kotak Personal Loan.
Kotak Mahindra Personal Loan Interest Rate
Interest rates on Kotak personal loans start from 13%.
| Personal Loan Interest Rate | 13% - 24% |
| Documentation fees | Rs. 5,000 |
| Processing fee | 3% of overall loan amount |
| Loan Tenure | 12 months to 60 months |
| Age limit | 21 years to 5 years |
| Processing time | 7 days |
| Credit Administration fees | 5% of loan amount or Rs. 7,500, whichever is lower |
| Overdue interest rates | 3% of Overdue amount, compounded monthly |
| Collection charges | 30% of cheque bouncing and penal charges |
| Dishonour fees per instance | Rs.750 |
| PDC replacement charges | Rs.500 on every Swap per instance |
| NOC duplicate | Rs.500 |
| Solvency certificate | Rs.1000 |
| CIBIL copy | Rs. 50 |
| Transaction records copies | No charges for first year. Rs. 250 per request after that |
The great blog about personal loans app.Thanks for sharing the blog,seems to be interesting and informative too.Could you help me to find more detail about personal loans app
ReplyDeleteHey thanks for this amazing post. Would love to read more of such blogs. You can also have a look at personal loan information for more information.
ReplyDeleteHi,
ReplyDeleteThanks for sharing a nice article, Claim your Instant loan online up to 15,00,000 at Buddy Loan App with the least documentation. And, get Instant loan approval with the low-interest rate at Buddy Loan in India. Apply online at www.buddyloan.in
Buddy Loan App
Buddy Loan India