Kotak Bank Housewife Personal Loan

Did you get unexpected expenses? Meet Kotak Mahindra Bank’s Personal Loan for self-employed! With this loan, you can cover the cost of any personal need you want! Plus the brand offers, easy application, competitive rates, and flexible repayments that will make your financial journey smoother. So, live your life to the fullest with Kotak Bank personal loan for Self Employed Individuals. 

Kotak Bank Self-Employed Personal Loan- Highlights

Below states are the key highlights of Kotak Bank’s Self-Employed instant loan:

Comparison of Kotak Bank Self-Employed Personal Loan with Other Lenders

The following comparison between Kotak Bank’s employed Personal loan with other lenders can help ease your process.

Remember, you can use Urban Money’s Kotak Bank Self-Employed Personal loan calculator to assess your monthly EMI. 

Kotak Bank Self-Employed Personal Loan – Fees and Charges

Apart from the Kotak Bank Self Employed Personal loan rate, borrowers are also required to pay;

• Interest Rate: 10.99% and above p.a.
• Processing Fees: 3% of the loan amount + applicable taxes, deducted at disbursal.
• Stamp Duty Charges: As per the State’s Stamp Act.
• Overdue EMI Interest: 3% per month on overdue instalments.
• EMI Bounce Charges: INR 500 plus taxes per instance.
• Foreclosure Charges: Up to 3 years – 4% + GST, After 3 years – 2% + GST, For >10L Loan amount: INR 999/- + taxes (after 12 months).
• Part Pre-payment Charges: Allowed after 12 months, INR 500 plus taxes per instance.
• Physical SOA or Amortization Schedule Charges: Once a year – No charge, post that – INR 200 plus taxes per request.

Kotak Bank Self-Employed Personal Loan – Documents Required

The necessary documents you need to avail of Kotak Bank Salaried Employee Personal loan include:-

• 2 to 3 Passport Size Photographs
• ID proof: PAN Card/ Voter ID/ Aadhaar Card/ Driving License
• Address proof: Passport/ Utility Bills
• Income proof: Last 3-6 months’ Bank Statements 

Kotak Bank Self-Employed Personal Loan – Eligibility Criteria

The Kotak Bank Self-Employed Personal loan depends on the following criteria:

• Min-Max Age: 21 to 60 years
• Nationality: Indian
• Occupation: Business   
• Minimum Income:  25,000 Rs.
• Minimum business experience: 2+ 
• Minimum education: Graduation