Kotak Mahindra Bank Personal Loan [Interest Rate, Processing Fees, Tenure, Prepayment Charges 2022]

By | October 31, 2023


About Kotak Mahindra Bank: Kotak Mahindra Bank is the third largest private bank in the country in terms of assets and market capitalization. This financial services group was founded by Mr. Uday Kotak in his 1985. It is noteworthy that Kotak Mahindra Bank is the first bank in India to be converted from a non-banking financial company. A study by Brand Finance Banking published in Banker magazine in 2014 ranked the company 245th out of the world’s top 500 banks.

Kotak Mahindra Bank is a leading financial company that offers high-interest savings accounts, low-interest personal loans, and credit cards with a number of attractive offers. Kotak Mahindra Bank is an ideal option for personal and professional use.

Headquarters: Kotak Mahindra Bank is headquartered in Mumbai, Maharashtra. This facility is another subsidiary of Mumbai-based Kotak Mahindra Finance Limited. All subsidiaries of KMBL are headquartered in Mumbai. 4,444 

Employees: Kotak Mahindra Bank currently employs around 71,000 people across its branches. The Bank’s founder, Mr. Uday Kotak, is the Bank’s Chief Executive Officer and Chairman. Mr. Prakash Apte is an independent non-executive chairman. Sumitra Acharya is the bank’s human resources director. 4,444 4,444 

Number of branches and ATMs: This bank has a wide network that includes his 1,600 branches and 2,519 ATMs across the country. The bank has a number of subsidiaries including Kotak Mahindra General Insurance, Kotak Life Insurance, Kotak Mutual Fund, Kotak Securities and Kotak Mahindra Prime Limited. The company holds a 9.99% stake in Airtel Payments Bank.

Interest rate: 10.75% per annum

Loan amount: up to Rs 2 million

Maximum term: up to 5 years

Processing fee: 0.99% of loan amount – 2.25% + GST ​​

Advance fee: 0.99 % – 2.25% of loan amount + GST ​​

Minimum monthly salary:depending on financing requirements

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