Kotak Bank Salaried Employee Personal Loan

Looking for a quick fix to cover those unexpected expenses or plan a much-needed vacation? Well, say hello to Kotak Mahindra Bank’s Salaried Employee Personal Loan! Whether it’s medical bills, travel plans, or giving your home a little makeover, this loan has your back. With easy application processes, competitive interest rates, and flexible repayment options, Kotak Bank is here to make your financial journey smoother.

Kotak Bank Salaried Employee Personal loan- Highlights

Below states are the key highlights of Kotak Bank Salaried Employee instant loan:

Features	Description
Who Are Eligible?	Salaried employees meeting the criteria
Maximum Loan Amount	Up to Rs. 40 lakhs
Loan Tenure	Flexible tenure, from 12 to 60 months
Margin	NA
Upfront Fee	Processing fee of up to 3% of the final loan amount plus applicable taxes
Collateral/Security	No collateral is required

Comparison of Kotak Bank Salaried Employee Personal Loan with Other Lenders

The following comparison between Kotak Bank Salaried Employee Personal loan with other lenders can help ease your process.

Bank/NBFCs	Interest Rate
HDFC Bank Personal Loan	10.50% p.a. onwards
Citibank Personal Loan	10.75% p.a. onwards

Remember, you can always use Urban Money’s Kotak Bank Salaried Employee Personal loan calculator to assess your monthly EMI. 

Kotak Bank Salaried Employee Personal Loan

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

• Processing Fee: Up to 3% of the final loan amount plus applicable taxes. 
• Foreclosure Charges: 
  • Up to 3 years: 4% + GST on outstanding principal.
  • After 3 years: 2% + GST on outstanding principal.
  • For >10L Loan amount: Foreclosure charges of INR 999/- plus applicable taxes (only for closing through own funds and after 12 months).
• Late Payment Charges: 3% per month on the overdue instalment amount

Kotak Bank Salaried Employee 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/ Leave and License Agreement
• Income proof: Last 3 month’s Salary Slips/Bank Statements

Kotak Bank Salaried Employee Personal loan – Eligibility Criteria

The Kotak Bank Salaried Employee Personal loan depends on the following criteria:

• Min-Max Age: 21 to 60 years
• Nationality: Indian
• Occupation:  Employee of any private or government company 
• Employment Status: Salaried
• Minimum Salary:  
  • Kotak Bank Salary Account holder: Rs. 25,000
  • Non-Kotak Bank Salary Account holder: Rs. 30,000
  • Kotak Bank Employees: 20,000
• Minimum work experience: 1 year
• Minimum education: Graduation