Personal Loan · Bank review
Kotak Mahindra Personal Loan
Kotak Mahindra Bank has aggressively rebuilt its personal-loan product around a paperless mobile journey. For applicants with a 750+ score and stable salaried income, Kotak is a strong contender in the ₹10-25 lakh loan band.
By FinancePaisa Editorial Team · Research & editorialUpdated · 1 min read
Rates checked against the lenders' official pages on 28 September 2026. Your actual rate depends on your profile; confirm with the lender before you apply.
Official rate pages: Kotak Mahindra
- Interest rate
- 10.99% p.a.
On this page (5 sections)
Key features
- Starting rate 10.99% p.a. for pre-approved and eligible customers
- Tenure 12 to 60 months
- Fully digital application via Kotak 811 app
- Balance transfer with top-up available
Fees and charges
| Charge | Amount |
|---|---|
| Processing fee | Up to 3% (max ₹10,000) + GST |
| Foreclosure charges | 4-5% of outstanding after 1 year; 5%+ before 1 year |
| Part-payment | Allowed after 12 EMIs |
| EMI bounce | ₹500 + GST |
| Overdue interest | 2% per month on overdue |
Processing fee
- Amount
- Up to 3% (max ₹10,000) + GST
Foreclosure charges
- Amount
- 4-5% of outstanding after 1 year; 5%+ before 1 year
Part-payment
- Amount
- Allowed after 12 EMIs
EMI bounce
- Amount
- ₹500 + GST
Overdue interest
- Amount
- 2% per month on overdue
Eligibility
- Age 21 to 58 years for salaried
- Minimum monthly income ₹20,000 (varies by location)
- Minimum 1 year of employment; 6+ months at current employer
- Credit score 750+ preferred for starting rate
Digital-first experience
Kotak's personal-loan flow is one of the fastest in the industry for pre-approved customers - PAN + Aadhaar OTP + video KYC completes in under 10 minutes. For new-to-bank applicants, the journey is on par with HDFC and ICICI.
Frequently asked questions
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