Customer Care
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Kotak Mahindra Bank is an Indian bank and financial service firm established in 1985. Kotak Mahindra is one of India's leading banking and financial services organizations, offering a wide range of financial services that encompass every sphere of life. From commercial banking, to stock broking, to mutual funds, to life insurance, to investment banking, the group caters to the diverse financial needs of individuals and corporate sector.
Kotak Mahindra Bank offers personal loans at attractive interest rates for a variety of different purposes. The bank provides doorstep service with their trained representatives who assist in the completion of formalities for a hassle free experience.
Kotak Mahindra Bank offers personal loans to their customers at a decent interest rate. The loan is also known as an unsecured loan, where the borrowers do not have to pledge any assets against the loan.
| Service type | Interest rate |
|---|---|
| Rack Interest rates | 10.25% to 20% |
| Loan Processing charges | Upto 2.5% of the loan amount+ service tax / GST and other applicable statutory levies |
| Prepayment Charges | Lock in period for 12 months. After 12 months, 5% foreclosure charges + service tax / GST on principal outstanding |
| Part Foreclosure Charge | Nil |
Representative ExampleFor example if a person borrowed a loan of Rs. 5,000,00/- with a rate of interest 12% per annum for 60 months. Then monthly EMI is Rs. 11,122/- per month |
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