Can Kotak Personal Loan Be Easily Availed?

Personal Loans are really getting popular these days. The reason being people’s aspirations and dreams are growing. They want to experience the best of everything. If it is to travel, they want to go to exotic locations. In case of weddings, they want to throw the best wedding in the town. Personal loan from not all banks can fulfill such high-end dreams. But a personal loan from Kotak Mahindra is definitely takes care of your travel plans and wedding needs.

What are the types of Kotak Personal Loan?

Kotak personal Loan realizes how important it is for you to travel and have a lavish wedding. Based on these two aspects, Kotak Mahindra Bank has designed two types of loans:

  • Travel Loan: Kotak knows how important it is for you to take a break and get away from this rut of life. This is the reason it has especially tailored a loan that will just meet your travel needs. Choose any destination on the globe and Kotak will make sure that it happens for you.

  • Wedding Loan: “Having the best wedding” is the oldest member of the bucket list. Come on, for most of us, having the best wedding is like a dream. Kotak personal loan empowers this dream wherein you can take big loan amounts to choose whichever theme you like.
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Features of Kotak Bank Personal Loan:

  • You can big loan amounts to get closer to your dream starting from INR 50,000 upto INR 15 lakh.
  • No visit to the branch for the application process. You can do it by enjoying the comfort of your home.
  • Super Attractive Interest Rates
  • Flexibility to choose the repayment tenure.
  • Once the approval is made, Kotak Bank personal loan amount is quickly disbursed to your bank account.
  • Easy to meet eligibility criteria and minimal documentation procedure.

What is the Eligibility Criteria to get a Kotak Bank Personal Loan?

Since the nature of this personal loan is that of an unsecured one, no collateral needs to be pledged against it. So, in order to grant this loan, Kotak does a thorough check on the CIBIL score, demographic details, educational qualification, employer details, annual and monthly earnings and more so.

  • The applicant must be a citizen of India.
  • He/she should definitely have a regular monthly income. Minimum salary of INR 20,000 is demanded by Kotak to grant the personal loan.
  • The minimum educational qualification held by the borrower should be that of a graduate.
  • Applicant should be a resident of his present city for at least a year.
  • The minimum work experience that the applicant should hold should at least one year.
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What are the Documents to be Submitted to Get the Kotak Personal Loan?

Kotak follows a minimum document policy so that the procedure is hassle-free for the customer. The applicant must produce these documents before the bank to enjoy a seamless approval process:

  • Proof Identification is a must - Anything from a Passport to PAN Card to Aadhar card, Voter’s ID to Driving License, would do.
  • Address Proof - Anything from a Utility Bill to a Passport to a Leave and License Agreement, would suffice.
  • Salary slips for the last 3 months. This is to check whether you’ve a monthly flow income or not.
  • Bank Statement for the last 3 months.
  • 3 passport size photographs.

And, you’re all set to get the Kotak Bank Personal Loan.

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