Kotak Mahindra Bank offers personal loans of up to Rs 25 lakh at 10.99% p.a. for up to 5 years. For salaried borrowers, it provides quick loan disbursement, part-payment flexibility, and simpler documentation. Kotak Mahindra Bank also provides fast personal loans in India’a leading commercial and metropolitan areas.
1. Personal Loan for Marriage Purposes: Kotak Marriage Loan is available to cover the financial requirements for a wedding, such as an engagement ring and a dream honeymoon.
- Maximum loan amount: 25 lakh
- Tenure: 1 to 5 year
2. Personal Loan for Travel Purposes: To cover the financial requirements for travel, such as airfare, tours, lodging, travel accessories, and so on.
- Loan Amount: 50,000 to 25 lakh rupees
- Tenure: 1 to 5 years.
3. Medical loan: The purpose of a medical loan is to cover unforeseen medical expenses or treatment. In the event of an unforeseen medical emergency or treatment.
- Loan Amount: 50,000 to 25 lakh rupees.
4. Personal Loan for Home Renovation: Collateral-free loan for renovation-related expenses such as contractors, interior designers, raw material purchases, and so on,
- Maximum loan amount: Rs 25 lakh
- Tenure: up to 5 years
- Employee type: Working for a multinational corporation, a private limited firm, or a public limited company.
- Age range: 21-60 years
- Minimum monthly salary: RS 25,000 for corporate borrowers, Rs 30,000 for non-corporate salary borrowers, Kotak Mahindra Bank employees- Rs 20,000.
- Furthermore, Kotak Bank may evaluate the credit score of its personal loan applicants, just as other leaders for when determining the eligibility of its client for personal loans.
- Documents such as a passport, Aadhar card, driving license, voter ID, and PAN, card.
- Electricity bills, leave and license agreements are examples of residential verification.
- Bank statement over the last three months.
- 2-3 passport-size photos.
- Salary slip for the last three months.