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Kotak Mahindra Bank is the brainchild of its founder Mr Uday Kotak. Back In the year 1985 fresh after completing his MBA, he envisioned to start financial services company. Showing confidence in the abilities of the young & aggressive Uday Kotak the industrialist Mr Anand Mahindra invested 1 lakh in his company.

Thus started the Kotak Mahindra success story!

The Financial services company was started as the Kotak Capital Management Financial Company, which later became Kotak Mahindra Finance Limited.

In the month of February of 2003 the Reserve Bank of India issued the Licence to Kotak Mahindra Finance company to start its Banking Business, thus Kotak became the first non-banking finance company in India’s corporate history to be converted into a bank.

Kotak offers a wide range of banking products and financial services for corporate and retail customers through a variety of delivery channels and specialized subsidiaries in the areas of personal finance, investment banking, life insurance, and wealth management.

In 2014, Kotak Bank acquired ING Vysya Bank in a deal valued at ₹15,000 crore (US$2.2 billion) With the Merger Kotak now stands at strength of over 46,500 personnel under its employment & a network of 1,348 branches across 675 locations and 2,051 ATMs in the country.

The Kotak Mahindra bank has made history with its phenomenal growth & endeavours to be one of the top Banks in the country.


After successfully funding to the Business class in the form of Business Loans for new & existing ventures, loan against property & capital investment the Bank has made an aggressive foray into funding to the Salaried. Personal Loans is now a key portfolio, especially after merger & takeover of the ING Vysya Bank Personal Loan accounts.

Attractive schemes are being offered for salary & savings account holders. With an ingenuous marketing campaign in place Kotak is looking to expansion of its customer base.

The Bank is willing to Lend enhanced loan amounts to High income Applicants with a sound track record. First time Personal Loan applicants are also encouraged to apply.

Having a self owned premise in the city is & a stability of employment & residence are key factors which institution looks for funding of a personal loan.


  • Wedding in the family – A family wedding is a time for joy & celebration & also an increase in expenses. Any amount of budgeting may not work, extra funds may be required at the end time ,taking a personal loan at this time may stand in good stead as it has an easy process & quick disbursal/ turnaround time.

  • Home Renovation– To maintain a style of living has become essential part of our living. Extra funds may be required to maintain, decorate & refurbish our home. Kotak Mahindra Bank is ready to provide the extra funds to continue living in the style you deserve.

  • Personal loan for Travel/Vacation – It is important to enjoy the vacation time, by travelling to your dream destination or taking your family to the much needed outing they deserve now. Take a personal Loan to make this a reality, payback easily over monthly installements.

  • Family Illness – A sudden illness may catch you unaware, availability of funds becomes essential for medical expenses a personal may be the answer at this time of need.

  • Education Expenses – Be it payment of yearly school fees of your child or a bid to further your own qualifications, going in for a personal loan may be preferable or more readily available than an education loan for the purpose.


  • Personal loan is available from 50,000/- to 15, 00,000/- as per the customer requirement & eligibility.
  • Flexible repayment options are available from 12 months up to 60 months.
  • Attractive Interest rates available from 11.5% up to 24% per annum @ reducing balance.
  • Hassle free Loans provide without any security or co lateral.
  • Simple documentation & quick processing are the hallmark of Personal Loans from Kotak.
  • Doorstep facility is provided for customers interested in availing a personal loan.


  • Kotak Mahindra Bank provides a Personal Loan to all Persons as per the following criteria;
  • Applicant should be an Indian citizen above 21 years of age up to the age of 58 years.

  • Should have a minimum net income of 25,000/- per month

  • Minimum Educational qualification required is Graduate.

  • Applicant should be a resident of the same city for over a year.

  • Applicant should be an employee of a Multinational, Private or Public ltd company for 2 years or more.

  • A CIBIL score is not mandatory to process apply for a Personal Loan, but a negative CIBIL will impact the process.


The Personal Loan Rate of Interest is charged @ monthly reducing balance. The rate of Interest applicable is as per the;

  • Total loan Amount Required
  • Net Salary transferred to the Bank
  • Company the applicant is currently employed with
  • CIBIL score of Applicant

Appended below are details for other charges.

Interest Rate 11.5% to 24% per annum
Loan Processing Charges 2.5% of Loan amount
Stamping Charges Applicable as per the respective State’s Stamp Act
Credit Appraisal Charges Up to 5% of the Loan amount, not exceeding Rs. 7500(inclusive of service tax)
Overdue Interest 3% of Overdue Amount, compounded monthly on the amount due but unpaid from the date of the amount falling due till the date of actual payment
Collection Charges 30%(inclusive of service tax and other applicable statutory levies)of cheque/instrument dishonour charges overdue interest
Dishonour Charges per Instance Rs. 750.00 per instance(inclusive of service tax and other applicable statutory levies)
Swap Charges( Replacement of PDCs) Up to Rs. 500 per Swap per Instance+ service tax and other applicable statutory levies
Prepayment Interest / Foreclosure Charges Lock in period for 12 months. After 12 months, 5% foreclosure charges + service tax on principal outstanding
Duplicate Issue of NOC Rs. 500 + service tax and other applicable statutory levies per instance
No Due Certificate Rs. 500 + service tax and other applicable statutory levies per instance
Charges for furnishing a copy of the credit information report (CIBIL) to the applicant. Rs. 50 + service tax and other applicable statutory levies per instance
Charges applicable in case customer requests for copies of records pertaining to his transactions ( SOA / Amortization Schedule) Once yearly without any charge. Post that Rs. 250 per request+ service tax and other applicable statutory levies

Personal Loans from Kotak Mahindra Bank are processed under the following categories;

Fresh Personal Loan for Salaried Applicants-

First Time Personal loan seekers are able to fulfil their needs for funds by applying for a Personal Loan, as having a credit history or CIBIL is not mandatory. All other requirements as per policy of the Bank need to be met.

Top Up Loan-

Customers previously running a Personal Loan from Kotak are entitled for a Top Up (extra amount added to the Loan) if additional funds are required.8 or more EMI’S of the previous loan should have been paid successfully & the applicant should be eligible for the total Loan amount.

Parallel Loan-

Persons who are already running a personal loan with Kotak can apply for an additional Personal loan if required. The consecutive Loan will be processed as an independent loan with a fresh EMI & will run parallel to the Personal Loan already in existence.

Balance transfer of a Personal Loan to Kotak Mahindra Bank

Kotak Mahindra Bank is most aggressive for its Balance Transfer programme .A host of benefits are offered take over the Personal Loan accounts of customers who are maintaining an on time payment record.
Prime Features for Balance transfer of your Personal Loan to Kotak Include:

  • Kotak offers the lowest Rate of Interest starting from 11.79% onwards.
  • More than One Personal loan can be transferred under this programme.

  • Tenure can be readjusted to achieve a comfortable EMI.

  • Credit Card debts can also be transferred at the same lowered Rate of Interest.

Balance Transfer facilities are offered to applicants working in companies featuring under all categories.

Rate Chart for Personal Loan Balance Transfer

CAT A/B/C NTH>=35000 11.79% 0.5%
NTH<35000 12.99% 0.5%
CAT D NTH>=35000 12.99% 1.2%
NTH<35000 15.00% 1.2%


Special Offers for rate of Interest & Processing fees are offered under the following categories:

  • High Income Customers who apply for Enhanced Loan amounts
  • Offer for Government Employees:
  • Discounts on Rate of Interest & Processing fees are offered to

  • Top Listed companies,

  • Government departments
  • Corporate employees of Leading Companies & Manufacturing Industries.


Product Type Category Criteria/ Salary ROI PF%
Special Offer CAT A NTH > 75000 (BH approval only, for any deviation) 10.99% 1.39%
NTH: 50000 – 74999 11.79% 1.49%
NTH: 35000 – 49999 14.49% 1.99%
NTH : 20000-34999 14.75% 2.50%
NTH Less than 20000 16.49% 2.50%
CAT B NTH > 75000 (BH approval only, for any deviation) 10.99% 1.39%
NTH: 50000 – 74999 12.69% 1.49%
NTH: 35000 – 49999 14.65% 1.99%
NTH : 20000-34999 14.99% 2.50%
NTH Less than 20000 16.75% 2.50%
CAT C NTH > 75000 12.10% 1.39%
NTH: 50000 – 74999 12.99% 1.49%
NTH: 35000 – 49999 14.95% 1.99%
NTH : 20000-34999 15.29% 2.50%
NTH Less than 20000 16.99% 2.50%
CAT D NTH > 75000 15.54% 2.50%
NTH: 50000 – 74999 16.04% 2.50%
NTH: 35000 – 49999 16.54% 2.50%
NTH : 20000-34999 17.04% 2.50%
NTH : 18,000 to 24,999 18.04% 2.50%
Company Name DSA Sourcing
Rate PF
ACCENTURE 11.49% 1.59%
CAPGEMINI/I GATE 11.49% 1.59%
COGNIZANT 11.49% 1.59%
IBM 11.49% 1.59%
Infosys Ltd 11.49% 1.59%
WIPRO LTD 11.49% 1.59%
Category Loan Ticket Size ROI DST PF% DSA PF%
CAT D 12 Lakhs+ 13.10% 2% 2.50%


Income Documents

  • Salary Slip for the Last 3 months.
  • Bank Statement from Salary account for the last 3 months showing 3 salary credits.

  • Form 16 for the last financial year.

  • Pan card copy / Age Proof /Signature Proof

KYC Documents

  • Photo Identification proof.(Passport/Driving Licence/Voter I.D./Aadhaar Card/Ration Card)

  • Current Address Proof.(Bank Statement, Utility Bill, Rent Agreement)

  • Company I.D.