Key Insights
 

1. The minimum age for Kotak Mahindra Bank personal loan eligibility is 21 years, and the maximum age for a personal loan is 60 years.
    
2. If your CIBIL score is 750 or above, you are eligible for the Kotak Mahindra Bank personal loan.
    
3. For the Kotak Mahindra Bank Personal Loan, the minimum income eligibility is ₹20,000 if you are an employee of Kotak Mahindra Bank.

Bhai, mujhe Kotak Mahindra Bank me personal loan ke liye apply to karna hai, per kya mai elgibile hoon? Let’s break down Kotak’s exact eligibility rules so you can find out in seconds.

A personal loan is an unsecured loan that you can use for various purposes. The eligibility for a Kotak Mahindra Bank Personal Loan depends on several factors, including income, age, and specific documentation requirements.

The Kotak Mahindra Bank Personal Loan eligibility is based on profession, such as whether you are a salaried person, a professional, or a self-employed individual. A good credit score also adds points to your eligibility for the Kotak Mahindra Bank Personal Loan.

Example:

I am a small shopkeeper. I want the Kotak Mahindra Bank personal loan of ₹2,00,000, but I am not aware of the eligibility criteria. 

When I visited the Kotak Mahindra branch, I applied for a Kotak Mahindra Bank personal loan, but I wasn't eligible because I didn’t have a salary slip. The loan is cancelled.

If you are in my position and don’t know about the personal Loan eligibility, this blog provides in-depth knowledge about the Kotak Mahindra Bank personal Loan Eligibility.

Kotak Mahindra Bank Personal Loan Eligibility Criteria

Are you planning for a Kotak Mahindra Bank Personal Loan? Then you have to know about the Kotak Mahindra Bank personal loan eligibility criteria.

If you do not have proper information, your personal loan might be cancelled. Here is the detailed information about the eligibility criteria with an example.
 

These are the Kotak Mahindra Bank Eligibility criteria for salaried individuals, businesspersons, and professionals. If you want a personal loan, you have to meet the Kotak Mahindra Bank eligibility criteria.

Required Documents for Kotak Mahindra Bank Personal Loan Eligibility Verification

Even a single missing document can ruin your day and delay your Kotak Mahindra Bank personal loan. To save you time, please review the required document list twice.

Key Documents for Kotak Mahindra Bank Personal Loan

• Provide an identity proof, such as a PAN Card, voter’s ID card, passport, or Aadhaar card.
• Submit a document that shows your age, like a voter’s ID card, passport, Aadhaar card, or birth certificate.
• Include an address proof, such as a utility bill, rent agreement, or passport.
• Attach your bank statement and salary slips from the last three months.
• Provide 2 or 3 passport-size photographs.

List of Documents for Salaried Individuals for a personal loan in the Kotak Mahindra Bank.

These documents are required when applying for a Kotak Mahindra Bank personal loan.

How do I apply for a ₹35,00,000 personal loan at Kotak Mahindra Bank?

You can follow these necessary documents to apply for a ₹35,00,000 personal loan in Kotak Mahindra Bank.

• Please provide valid identity proof, such as a Passport, E-KYC Authenticated Aadhaar, Voter ID, or Driving Licence.
   
• Please submit valid residence proof, which may include a Passport, E-KYC Authenticated Aadhaar, Voter ID, or Driving Licence.
   
• Kindly provide your bank statements for the last three months showing income details, along with salary slips for the same period if you are a salaried employee.
• Please include two to three recent passport-sized photographs.

These are the documents you have to submit if you apply for the ₹35,00,000 personal loan at Kotak Mahindra Bank.

Bonus Tip: Do you know? Kotak Mahindra Bank charges a 10.99% interest rate on personal loans of up to ₹35,00,000.

Conclusion 

If you have a steady income, a good credit score, and the right documents, you can easily qualify for a personal loan from Kotak. This makes it simple to get the funds you need.

FAQS

I have a good credit score, no missed payments, and no overdue EMIs, so why was my personal loan rejected at Kotak Mahindra Bank?  

Kotak Mahindra Bank looks at more than just your credit score when reviewing loan applications. Your application may have been declined because of your debt-to-income ratio, income level, job stability, or other factors based on the bank’s policies or your financial history.

Should I take a Kotak loan against a credit card?  

Consider taking a Kotak loan against your credit card only if you need money for a short-term, minor expense and have a strong record of repaying debts.

How is personal loan eligibility and application at Kotak Mahindra Bank?  

To be eligible for a personal loan from Kotak Mahindra Bank, you must be a salaried individual between 21 and 60 years old, hold a graduate degree, have at least one year of work experience, and have a monthly income of approximately ₹20,000 to ₹25,000.

How do you calculate your personal loan EMI at Kotak Mahindra Bank?  

To find out your personal loan EMI at Kotak Mahindra Bank, you can use their online EMI calculator or apply this formula: EMI = [P x R x (1+R)^N]/[(1+R)^N-1].

Can you make pre-payments before your loan term ends?

You can start making pre-payments on your Kotak Personal Loan once you have paid at least 12 EMIs.
 

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About the Author

LoansJagat Team

‘Simplify Finance for Everyone.’ This is the common goal of our team, as we try to explain any topic with relatable examples. From personal to business finance, managing EMIs to becoming debt-free, we do extensive research on each and every parameter, so you don’t have to. Scroll up and have a look at what 15+ years of experience in the BFSI sector looks like.