List of Documents Required for Personal Loan | Kotak Mahindra Bank

Documents required for
Personal Loan

Documents required for
Personal Loan

Turn your dreams into reality with a Personal Loan from Kotak Bank.
Get a loan with minimum paperwork and documentation processes while availing Personal Loans. 
Personal Loan Documents by Kotak Mahindra Bank

Ready to take the next step?

Apply Now
icon

Frequently Asked Questions

What can a personal loan be used for?

Personal Loan can help you meet unexpected expenses such as wedding expenditure, school or college fees, dream vacations, home renovation projects or even for the purchase of consumer durables. 

 

Applying for a personal loan is a lot easier, quick, and convenient with Kotak Mahindra Bank.Click https://www.kotak.com/en/personal-banking/loans/personal-loan.html to apply for the same. 

 

Was this information helpful to you? Yes No

Do I need to provide any security or collateral to obtain a personal loan?

No, you do not have to provide any security or collateral to obtain a personal loan. Personal loan is a type of unsecured loan. This essentially means that it is not backed by the guarantee of collateral. You are not burdened by the need to generate collateral like gold, property or shares, as with other types of loans. As there is no security to assure loan repayment, the bank will focus on the income and financial stability of the applicant. 

Was this information helpful to you? Yes No

What are the benefits of taking a personal loan with Kotak?

There are several benefits of availing a personal loan from Kotak bank. Some of the most notable benefits include:

  • prepaymentInstant approval – The bank approves the loan at a quick rate and this makes the process much easier to serve different financial purposes.
  • Easy Documentation – It comes with minimal documentation requirements to help you save time and cater to your emergency financial needs without any hassle.
  • Versatile usage – The personal loan can be used to fulfil many purposes. From funding a dream wedding to serving a medical emergency, it can be used to serve different planned and unplanned financial needs.
  • Attractive interest rate – The personal loan is made more convenient with an attractive rate of interest starting at 10.75 p.a.
  • Part Prepayment facility – In case of excess funds/financial liquidity , you can reduce your loan burden with part prepayment

Was this information helpful to you? Yes No

What is the eligibility criteria to apply for a personal loan?

The eligibility to avail Personal loan is as follows :

  • All Indian residents who are employees of either MNCs, Public and Private limited companies with a minimum age of 21 years and maximum age of 58 years are eligible for a personal loan.
  • Other Personal loan eligibility criteria :
    • A net Salary of Rs.25,000/- per month for Corp Sal (Salary with Kotak) , A net Salary of Rs.30,000/- per month for Non-Corp Sal (Salary with other bank) , A net Salary of Rs.20,000/- per month for Kotak Employee.
    • Minimum educational qualification - Graduate
    • Years in city - Minimum 1 year
    • Total work experience - Minimum 1 years

You can apply for a personal loan by following the below steps:

On Mobile banking

  • Go to Apply Now
  • Personal Loan ( If eligible)

On Net Banking

  • Go to Banking
  • Apply for Preapproved Personal Loan (If eligible)

Or

By simply clicking https://rcasprod.kotak.com/personal-loan?source=website&banner=ProductPageApplyonlineTab. 

Please Note: The same would be subject to approval. The time frame for the personal loan is 10 working days if approved.

Was this information helpful to you? Yes No

What is the best way to apply for a personal loan?

You can apply for a personal loan by following the below steps:

 

On Mobile banking

  • Go to Apply Now
  • Personal Loan ( If eligible)

On Net Banking

  • Go to Banking
  • Apply for Preapproved Personal Loan (If eligible)

Or

By simply clicking https://rcasprod.kotak.com/personal-loan?source=website&banner=ProductPageApplyonlineTab.

Please Note: The same would be subject to approval. The time frame for the personal loan is 10 working days if approved.

Was this information helpful to you? Yes No

View All

People also looked at

gold-loan

Gold Loan

Make optimum use of your gold reserves collected over the years. Get quick and easy financing with Gold Loan from Kotak Bank at attractive interest rates.

Know More

loans-against-security

Loan Against Securities

Capitalize on your investments without selling them by applying for Loan Against Securities from Kotak Bank.

Know More

Business_Loans

Business Loan

Do not worry to bear the pressure of starting a new business all alone. Grab every opportunity to grow your business with Business Loan from Kotak Bank.

Know More