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An Expert Guide For Kotak Mahindra Bank Loans

Kotak Types Of Loans

Loans is a concept introduced where the customer or the bank account holder is eligible to borrow money from the bank according to the requirement in a promise to pay back the money in a matter of time based with additional interest rate charged on it.

Each bank has various types of loans favoring the requirement, some of the loans provided by the Kotak Mahindra Bank are:

Car Loans

We all have a dream to own a car, a car of our own dream but it always seems a far fetch as car’s are expensive and most of the people can’t have such an amount in hand to buy it. Kotak Mahindra helps make this dream come true buy lending the money to buy the car we dream off. This amount can be returned on a monthly instalment with a reasonable additional interest rate which varies from bank to bank. You can apply for car loan from Kotak Mahindra Prime Ltd and get back home with your dream car. This bank also provides different Kotak Mahindra Bank Deposit schemes to their customers.

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Personal Loans

This facility can be taken by any Kotak Mahindra Account holder, this loan can be used to fulfill the personal needs such as wedding expenses, school/college fees, for vacations, etc.

Through Kotak Mahindra bank the user can instantly avail a loan ranging from 50,000 INR to 15, 00,000 INR at a reasonable interest rate.

Home Loans

Kotak Mahindra bank provides home loans to their customer based on their requirement to make their dreams come true to have a place of their dream.This loans are given on the basic of the requirement at a very reasonable rate. Kotak Mahindra provides at door service, attractive interest rates and simplified documentation. You can also check your loan status with Kotak Mahindra Net Banking without visiting the bank.

Education Loan

Education is one of the most essential investment to make, Kotak Mahindra provides attractive loans to the customer who are willing to pursue higher education in India and also abroad.

Through Kotak Mahindra a person can avail a loan up to 10 lakhs INR in India and up to 20 lakhs INR for abroad, this loan is sanctioned based on the capacity of the individual to repay the loan through their income or other means. SBI Loans and Axis Bank Loans also provides the education loans at low interest rates.

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Loan against Property

You can avail this loan from your bank by which you will surrender your property documents to the bank in exchange of the loan you wish to take, this loan can be availed at a cheaper interest rate. By this loan if the customer fails to return the loan taken from the bank the bank can take the leverage to seize the property and sell it at a rate that is beneficiary for them. Kotak Mahindra provides a loan ranging from 10 lakhs INR to 3Crores INR.

Gold Loan

This loan is provided by the bank in exchange of the amount of Gold you possess you can avail this loan with low interest rates. This loan can be taken from the bank and make your life much easier.Kotak Personal Loan & Interest Rates

Personal Loans: This facility can be taken by any Kotak Mahindra Account holder, this loan can be used to fulfill the personal needs such as wedding expenses, school/college fees, for vacations, etc.

Through Kotak Mahindra bank the user can instantly avail a loan ranging from 50,000 INR to 15, 00,000 INR at a reasonable interest rate.

Interest Rates: One every loan you take you need to pay an additional amount called interest. Kotak Mahindra provides personal loans at an interest rate of 11.5% to 24%.

You can also compare the interest rates of Kotak Mahindra Bank with Indusind Bank Loans, OBC Bank Loans and PNB Loans.

FAQ’s Related to Kotak Loans

  1. How can I reschedule or Postpone my personal loan EMI?
View Answer
According to Kotak Mahindra terms and conditions rescheduling or postponing personal loan EMI is not possible.

2. Do I need a guarantor for car loans?

View Answer
This is not necessarily required, but if the person willing to take the loan has an income that doesn’t match with the repayment requirement then he or she can bring up a guarantor for guaranteeing the loan payable.

3. How do I get a KMPL car loan?

View Answer
To get this loan all you need to do is fill up the online application for the loan and the bank representative will get in contact with you shortly.

4. What is the maximum amount I can borrow for a Home loan?

View Answer
One can avail 90% of the loan if the cost amount is in between 20 to 75 Lakhs INR and 75% of loan for an amount of 75 lakhs INR and above.

 

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