A personal loan is the easiest financial support from the bank, which can give with minimal documents. With this, you can do anything which can be related to you for study, wedding, home renovation, holiday, etc.
Do you know what interest rate bank will give you and how it matters a lot for you? No, but you should know for own betterment. When any bank gives you an interest rate, so you have to compare with others. Then check beneficiary aspects as per your situation.
Let’s know your chosen bank’s interest rates is appropriate for you or not. The Kotak Mahindra bank personal loan interest rates are lowest, and the range starts from 10.99% to 20.99% per annum. Loan amount should be between Rs 50,000 to Rs 2 lakhs for five years and processing fee 0.99% to 2.50% of the loan amount with GST.
What Would Be The Eligibility For Kotak Mahindra Bank Personal Loan?
For the bank few things matter a lot of eligibility, KYC, and income. You should fulfill these things first, then automatically get instant approval. It’s a concerned area for you as well as banks. You can visit the official site of the Kotak bank and check online and apply after the confirmation.
Eligibility For A Personal Loan
- You should be between 21 to 58 years
- Total work experience should be two years
- Your minimum monthly net income should Rs 18,000
- Share registered mobile number
- And your minimum educational qualification should be graduate
KYC Factors For A Personal Loan
- Identity Proof: Driving license, passport, and any governmental photo ID proof
- Address Proof: Ration card, Aadhaar, and recent electricity bill
- Income Proof: Six months bank statement, Form 16, and a copy of income tax return
- Age Proof: PAN card, photo driving license with date of birth, and employer certificate
- Signature verification Proof: Bank account statement, a copy of driving license, and passport copy
- Ownership Proof: Electricity bill, water bill, and receipt of tax paid
In short, we can explain to you which factors can affect personal loan eligibility. Your monthly income, age, monthly expenses, any other loan, credit history, a regular job, relationship with the bank and category of your employer.
How Can You Calculate Accurate Payable EMI Of A Personal Loan?
It’s a simple process you need to open the EMI calculator site. After knowing the Kotak Mahindra bank personal loan interest rates get to know exact monthly EMI calculation. Enter personal-professional information, amount, tenure, and interest rate. The system can collect all your data, then give you one solution. With this magical tool, you get the accurate payable amount on monthly EMI to the lenders. Do you know the attractive point of this tool? You can check your report until not getting exact payable amount information.
As you know the benefits of a personal loan, you can have attractive interest rates, minimal documents, no security, and flexible repayment option. As well as also can have a customer care toll-free number service. Through this, you can reach them 24*7. From your registered mobile number call on toll-free number 1860 266 2666 and ask your queries.