When it comes to personal loan, there are several lenders in our country that provide personal loans to the customers who are in the need of it. The aim of a personal loan is to solve the unplanned financial problems of an individual that she or he is facing. Among all the banks and financial institutions, Kotak personal loan is one of the best loan facilities that has been helping individuals to achieve their financial needs. The unplanned need could be for anything, it could be for your home renovation or medical expenses or a wedding in the family or something else. All these personal needs can be fulfilled by this personal loan facility.
In this article, we would be telling about all the things related to the personal loan facility of Kotak Mahindra Bank. So without making any further delay, keep reading!
What are some amazing features of Kotak Personal Loan?
- With the help of Kotak Personal Loan, you can fulfill any of your needs which ranges from INR 50,000 to a maximum of INR 15 lakhs. This is the minimum and maximum loan amount that you could get.
- Kotak Mahindra Bank ensures through its efficient and excellent customer services that not a single question of yours remains unanswered and also makes sure that you get a totally hassle-free experience.
- The most important thing a borrower looks while choosing a personal loan is the rate of interest and Kotak ensures that you get the most affordable interest rate in the current financial market. It starts from 10.99% onwards and will depend on your profile and CIBIL score.
- If all goes right, you can get your personal loan approval and funds in your account within three seconds as stated by the official website of Kotak personal loan.
- Worried about the tiring documentation process? Well, don’t! All the documentation process will be totally digital and free from any stress.
- You can also opt for the balance transfer scheme or Personal loan top-up at an affordable rate of interest without any collateral or security.
- You could repay the loan amount with the easy EMI facility. To have an estimate about your EMI, you could use the Personal Loan EMI calculator. For that, you will only need to fill three basic details – Required amount, rate of interest, and tenure.
What is the Eligibility Criteria for Kotak Personal Loan?
- The applicant must be an Indian resident and an employee of MNC, Public or Private Limited Company.
- The age of the applicant must be between 21 to 58 years of age.
- The monthly income of the applicant must be INR 20,000.
- The minimum educational qualification to avail a personal loan is to be a graduate.
- Must be residing in the current city for at least the last year and must have work experience of 1 year in the current company.
What are the documents required?
You can have a look at the list of documents that you will need to submit while applying for a personal loan.
- Proof of Identity Passport/ Aadhar Card/ Voter’s ID
- Proof of Residence Utility Bill/ Passport
- Bank Statement for the last three months
- Salary Slip of the last three months
- 2 passport size photographs