Kotak Mahindra Bank Personal Loan 2026
Kotak Mahindra Bank lends to salaried borrowers with a tiered income requirement based on employer category. Interest rate 10.99% onwards, loan Up to ₹35 lakh (aggregators); Kotak’s page mentions up to ₹1 crore, tenure 12 – 72 months.
Rates as of Sep 2026 (Paisabazaar, 21 Sep 2026) · Checked 29 September 2026Kotak Mahindra Bank Personal Loan at a glance
- Possible high loan amounts
- Clear income thresholds by employer type
- Processing fee up to 5% — highest among lenders tracked
- 5% foreclosure charge
- Maximum rate not disclosed
Kotak personal loan interest rate & charges
| Feature | Kotak |
|---|---|
| Interest rate | 10.99% onwards |
| Rate details | Official: “Interest rate @ 10.99% p.a.*” onwards; the maximum is not disclosed. |
| Processing fee | Up to 5% of loan + GST |
| Loan amount | Up to ₹35 lakh (aggregators); Kotak’s page mentions up to ₹1 crore |
| Tenure | 12 – 72 months |
| Prepayment / foreclosure | Foreclosure 5% of outstanding principal + GST (BankBazaar) |
| Minimum income | ₹25,000 (corporate salaried), ₹30,000 (other salaried), ₹20,000 (Kotak employees) |
| Credit score | About 750+ (aggregator guidance) |
Source: www.kotak.bank.in, Sep 2026 (Paisabazaar, 21 Sep 2026). Rates are indicative; your rate depends on your profile. Always check the Key Facts Statement (KFS) for the APR before signing.
EMI at Kotak’s rates
| Loan amount | EMI @ 10.99% |
|---|---|
| ₹2,00,000 | ₹4,347 |
| ₹5,00,000 | ₹10,869 |
| ₹10,00,000 | ₹21,737 |
Tenure 5 years, reducing-balance method. Total interest on ₹5,00,000 at 10.99%: ₹1,52,123.
Kotak personal loan EMI calculator
Eligibility
- Salaried individuals
- Net monthly income ₹25,000 (corporate), ₹30,000 (non-corporate), ₹20,000 (Kotak employees)
- Credit score around 750+ (aggregator guidance)
Documents required
- Identity proof: PAN (mandatory) plus Aadhaar, passport, voter ID or driving licence
- Address proof if different from ID
- Salaried: last 3 months’ salary slips, 3 – 6 months’ salary-account statement, Form 16 or latest ITR
- Self-employed: last 2 – 3 years’ ITR with computation of income, audited financials where applicable, 6 – 12 months’ bank statements, business registration (GST, Udyam, shop licence)
- Passport-size photograph (branch applications)
- Existing lenders’ sanction letters or statements if you are consolidating or transferring a loan
How to apply for Kotak Mahindra Bank Personal Loan
- Check your credit reportDownload your free report, fix errors and see what rate band you fall in.
- Compare offersCompare APR in the Key Facts Statement, fees and foreclosure terms — not just the headline rate.
- Apply on the lender’s own app, website or branchUse the bank’s official channels or its listed lending partners; never pay anyone a fee to “get the loan approved”.
- KYC and verificationAadhaar/PAN-based e-KYC or video KYC; income is verified from payslips, bank statements or account aggregator data.
- Sign KFS and agreementCheck APR, EMI schedule, foreclosure charge, penal charges and cooling-off period before e-signing.
- DisbursalMoney is credited directly to your bank account by the lender — never through a third party’s account.
Kotak vs other lenders
| Lender | Rate | Processing fee | Tenure | EMI on ₹5,00,000 |
|---|---|---|---|---|
| Axis Bank Personal Loan | 9.99% – 21.55% | Up to 2% of loan + GST | 12 – 84 months | ₹10,621 |
| HDFC Bank Personal Loan | 9.99% – 24.00% | Up to ₹6,500 + GST | 12 – 60 months (up to 72–84 months for select segments) | ₹10,621 |
| ICICI Bank Personal Loan | 9.99% – 16.50% | Up to 2% of loan + GST | — | ₹10,621 |
| IDFC FIRST Bank Personal Loan (FIRSTmoney) | 9.99% onwards | 0% – 3.5% of loan (incl. GST); zero on select amounts | 9 – 60 months | ₹10,621 |
| SBI Personal Loan (Xpress Credit) | 10.00% – 15.00% | 1.50% of loan (min ₹1,000, max ₹15,000) + GST | 6 – 84 months | ₹10,624 |
| Bank of Baroda Personal Loan | 10.15% – 17.50% | Nil for government employees with BoB salary account; others 1% – 2% + GST (min ₹1,000, max ₹10,000) | Up to 84 months (salaried); 48 – 60 months (non-salaried) | ₹10,660 |
| YES Bank Personal Loan | 10.85% – 21.00% | Up to 2.5% of loan | 12 – 72 months | ₹10,834 |
| Kotak Mahindra Bank Personal Loan | 10.99% onwards | Up to 5% of loan + GST | 12 – 72 months | ₹10,869 |
Frequently asked questions
What is the Kotak Mahindra Bank Personal Loan personal loan interest rate?
Kotak personal loan rates start at 10.99% p.a. (as of Sep 2026 (Paisabazaar, 21 Sep 2026)). The rate you get depends on your credit score, income and loan details.
What is the EMI for ₹5,00,000 from Kotak?
At 10.99% for 5 years the EMI is about ₹10,869, with total interest of ₹1,52,123.
What is the processing fee?
Kotak: Up to 5% of loan + GST. GST at 18% applies on fees.
What is the maximum tenure?
Kotak: 12 – 72 months.
Can I prepay or foreclose the loan?
Kotak: Foreclosure 5% of outstanding principal + GST (BankBazaar).
Information compiled from the lender’s published rates and reputable aggregators for comparison only. FinancePortal is not affiliated with Kotak Mahindra Bank Personal Loan. Terms change — confirm with the lender.