Kotak Personal Loan

Below are the key details of the Kotak Personal Loan:

Below are some key features of the Kotak Personal Loan:

High loan amount: One can avail a maximum loan amount of up to ₹50 Lakhs under the HSBC personal loan. The minimum loan amount available is ₹1 Lakh.
Flexible tenure: Customers can enjoy a flexible loan tenure on a personal loan of up to 60 months. Applicants can choose a tenure ranging from 6, 12, 18, 24, 30, 36, 42, 48, 54 or 60 months.
Quick and simple process: HSBC understands the importance of time and hence offers the facility of quick loan processing. It does not require tedious paperwork; instead makes the documentation process simple, quick, and hassle-free.
Prepayment facility: HSBC personal loan can be prepaid in part or in full after a lock-in period of 6 months from the loan disbursement. A penalty of up to 5% of the amount being prepaid will be levied, depending on the tenure.

The charges associated with the Kotak Personal Loan are as follows:

Interest Rates	9.99%% to 14% p.a.
Processing Fee	Up to 2% of the loan amount
Prepayment Charges	2% to 5% of the amount being prepaid
Penal interest for delay in EMI payment	2% over & above the applicable interest rate on the delayed instalment(s)

Below is the comparison of Kotak Personal Loan interest rate with other lenders:

Lenders	Loan Amount	Interest Rate	Tenure
HSBC Bank	₹1 Lakh to ₹50 Lakhs	9.99%% to 14% p.a.	6 to 60 months
Axis Bank	₹50,000 to ₹40 Lakhs	9.99% to 22.00% p.a.	12 to 84 months
Unity Small Finance Bank	Up to ₹5 Lakhs	16.00% to 30.00% p.a.	6 to 36 months
IDFC First Bank	Up to ₹10 Lakhs	9.99% to 23.99% p.a.	9 to 60 months
IndusInd Bank	₹50,000 to ₹50 Lakhs	10.49% p.a.	12 to 84 months
Kotak Mahindra Bank	₹50,000 to ₹35 Lakhs	10.99% to 16.99% p.a.	12 to 72 months
Yes Bank	₹1 Lakh to ₹40 Lakhs	11.25% to 21.00% p.a.	12 to 60 months
DBS Bank	₹50,000 to ₹50 Lakhs	10.99% to 30.00% p.a.	12 to 72 months
ICICI Bank	₹50,000 to ₹50 Lakhs	10.85% to 16.65% p.a.	12 to 72 months
Federal Bank	Up to ₹25 Lakhs	11.49% to 14.49% p.a.	Up to 48 months

One must pass the following Kotak Personal Loan eligibility norms to be eligible for an HSBC personal loan:

Applicants must be salaried or self-employed.
Salaried applicants must be aged between 21 to 60 years.
Self-employed applicants must be aged between 21 to 65 years.
Only Indian residents and citizens can apply.
Non-resident Indian (NRI) customers cannot apply.
The correspondence address of the applicant should be within India.
The applicant must have an active HSBC savings and/ or current account opened for more than 3 months.
The loan application is valid only in the cities of Mumbai, New Delhi, Pune, Ahmedabad, Bangalore, Chandigarh, Chennai, Hyderabad, Kochi, Coimbatore, Jaipur, and Kolkata for existing and new HSBC customers.
The loan application is valid only in the cities of Bhubaneshwar, Nagpur, Lucknow, Visakhapatnam, and Surat for Employee Banking Solutions customers of HSBC.

If you are eligible for an Kotak Personal Loan apply online with the following documents:

Completed personal loan application form with a passport-sized photograph.
Valid Identity Proof (any one of the following):
- Passport
- Voter ID Card issued by the Election Commission of India
- Driving Licence
- Aadhaar Card
- Job Card issued by NREGA & signed by an officer of the state government
Residence Proof (any one of the following):
- Passport
- Election/ Voter’s ID Card
- Ration Card
- Permanent Driving Licence
- Society Outgoing Bill (from registered societies only)
- Water/ Electricity/ Telephone/ Pipeline Gas Connection Bill
- Property Tax Receipt
- Domicile Certificate containing the address issued by the Municipal Corporation.
- Registered Rent or Lease Agreement, registered with the State Government or similar registration authority
Age Proof (any one of the following):
- Driving License
- Passport
- Photo PAN Card
- Birth Certificate
- School Leaving Certificate
Financial Documents for Salaried Individuals:
- Latest Salary Slip containing statutory deductions OR
- Form 16 (Declaration from employer providing details of income & deductions), duly signed by an authorised signatory of the company AND
- Last 3 months’ Salary Account Statements
Financial Documents for Self-employed Individuals:
- Audited/ Certified Financials (P&L Account and Balance Sheet) AND
- Acknowledged Income Tax Returns for the last 2 years AND
- Last 6 months’ Bank Statements of the Primary Account

You can apply for an Kotak Personal Loan online on our portal.

On our website, under the ‘Loans’ section, select ‘Personal Loan’ and then choose the ‘Kotak Personal Loan’ option
Provide all the important details such as your name, mobile number, email ID, and other details.
Based on these details, MyMoneyMnatra will assess your eligibility to provide the best personal loan options with their interest rate, tenure, and other important information.
Choose the most suitable option and submit your application.
Our team will get in touch with you.
Once you have applied for the loan with us, you can also check your Kotak Personal Loan application status online