Kotak Mahindra Bank Personal Loan Balance Transfer

A Personal Loan is convenient finance available at the time of need .This amount can be used to meet unexpected expenses & emergencies.

After procurement of the loan paying the monthly instalments on time is imperative to maintain a good track record & a CIBIL Score.

If the rate of Interest applicable is too high then paying back the EMI can be a heavy burden on our expenses .In this scenario the best option available to you is to reduce your current EMI to suit your budget  by taking a Balance Transfer of your Personal Loan to Kotak Mahindra Bank.

Balance Transfer of a personal loan is a process by which you can opt to close your current loan with an external Bank by transferring the remaining principal amount to Kotak Mahindra Bank.

Advantages of a Balance Transfer of your Personal Loan to Kotak Mahindra Bank.

With this Transfer the advantages to be gained are tremendous;

  • Avail Balance Transfer of your Personal Loans from 50k to 15 lacs.
  • Enjoy a reduced monthly Emi to suit your budget with rates starting from 11.49% onwards.
  • Additional Loan amount as per your requirement at the same reduced rate of interest.
  • Flexible repayment options with Tenures ranging from 12-60 months.
  • A chance to re work your EMI as per the tenure required.
  • Pay your credit card dues by taking a top up on your Balance transfer Loan amount.
  • Minimal Paperwork no collateral or security required.

The process

Eligibility Criteria for Balance Transfer of a Personal Loan to KOTAK MAHINDRA BANK.

  • This offer is for Salaried Individuals only.
  • Net Salary transferred to the Bank should be above 25000/- per month.
  • Company Employed with currently should be in the Kotak Mahindra Company List.
  • A Job Continuity of a year is mandatory.
  • Minimum Loan amount for Balance transfer is 50k.
  • 6 Emi’s of the External Personal Loan should have been paid back successfully.

List of Documents required self attested copies to be submitted for Personal Loan balance Transfer for (salaried applicants).

  • Application form duly filled & signed.
  • 2 passport size photos

Documents for Income Proof:

  • Salary slips for the last 3 months.
  • Bank Statement of Salary account showing salary credits for the last 3 months.
  • Form 16 for the last financial year.

KYC Documents include:

  • Pan Card Copy.
  • Identity proof ( Driving Licence/Aadhaar Card /Passport/Voter ID)
  • Current residence proof ( Driving Licence/Aadhaar Card /Passport/Voter ID/Utility bill/Rent agreement)

Proof for Balance transfer:

  • Request letter for transfer of Loan from the External bank to KOTAK MAHINDRA BANK.
  • Track of the existing personal Loan.
  • Pre closure letter or application copy for closure request of the current personal loan.

Rate Chart

25000/- + above 7 LACS + ABOVE 11.69% @ REDUCING BALANCE 1500/- + S.T. 12 months to 60 months
25000/- + above Below 7 lacs 12.5% @ REDUCING BALANCE 2% + S.T. 12 months to 60 months
* Applicable to salaried personal only.
* Rates are liable to change as per KOTAK MAHINDRA BANK policy.


Company Name
Monthly Income
Existing Personal Loan From which Bank
No of Emi's paid
Loan Amount
Loan Amount for Balance Transfer
Existing EMI (If any)
Date of Birth