Looking for a personal loan with flexible terms and quick approval? Kotak Mahindra Bank offers loans up to ₹35 lakhs with attractive interest rates. Here’s everything you need to know in simple terms:
Key Features at a Glance
✅ Loan Amount: ₹1 lakh to ₹35 lakhs
✅ Interest Rate: Starting at 10.99% (special offer for loans above ₹15 lakhs)
✅ Tenure: 1 to 6 years (flexible repayment)
✅ Quick Approval: As fast as 4 hours for eligible customers
Who Can Apply? (Eligibility Criteria)
✔ Age: 21 to 60 years
✔ Minimum Salary:
- ₹25,000/month (for CAT AA/A/B & Govt. employees)
- ₹35,000/month (for others)
✔ Employment Type: Salaried (including WFH profiles)
Special Cases:
- Fresh graduates: Can apply with just 1 month of employment (offer letter accepted)
- Government employees: Eligible for 6-year tenure
- Army/Navy/Shipping professionals: Special policies available
Loan Details
| Feature | Details |
|---|---|
| Maximum Loan | Up to ₹35 lakhs |
| Minimum Tenure | 1 year |
| Maximum Tenure | 6 years (for select customers) |
| Prepayment | Allowed after 1 EMI (no lock-in) |
| Balance Transfer | Allowed after 6 months |
Bonus: Up to 75% of your income can be considered for eligibility (including bonus, rental income, pension).
Documents Required
📌 Basic Documents:
- ID proof (PAN/Aadhaar)
- Address proof (not mandatory for all)
- Salary slips (last 3 months)
📌 For Special Cases:
- Offer letter (if recently joined)
- Rental agreement (if considering rental income)
Special Benefits
- No foreclosure charges (close loan anytime after 1 EMI)
- Hybrid OD facility for Kotak salary account holders
- Co-applicant income can be clubbed for higher eligibility
Pro Tip: If you have an existing home loan (above ₹10 lakhs), you may get higher eligibility (up to 70% FOIR).
How to Apply?
- Check Eligibility: Use Kotak’s online calculator
- Submit Documents: Upload digitally or visit a branch
- Get Approval: As quick as 4 hours
Current Offer: 10.99% interest rate for loans above ₹15 lakhs.
Why Choose Kotak Personal Loan?
✔ Higher loan amounts (up to ₹35 lakhs)
✔ Flexible tenure (up to 6 years)
✔ Quick approval process
✔ Special benefits for government/defense employees
Need funds? Check your pre-approved offer on Kotak’s website or mobile app today!
🔹 Note: Rates and offers subject to change. Terms apply.
