Personal Loan Kotak Bank EMI Calculator

What is Kotak Bank Personal Loan Calculator?

When one takes a Kotak Bank Personal Loan, a natural question that comes to mind is how much the EMI would (Equated Monthly Installment) be that one has to pay back to the bank every month. Kotak Bank Personal Loan calculator helps you in calculating your monthly EMI at your fingertips.

How to use Kotak Bank Personal Loan Calculator?

Once you find the Kotak Bank Personal Loan calculator, To calculate the amount of Kotak Bank Personal Loan EMI, you need to put the following inputs in the Kotak Bank Personal Loan calculator:

    • Loan Amount

      – The principal amount borrowed from the bank or financial institution is known as the loan amount.
    • Interest Rate

      – Interest rate can be either fixed or floating.
    • Loan tenure – 

      Is the time over which you choose to repay the loan.

The end result will be your EMI, the total interest you’ll be paying and the total amount you’ll be paying by the end.

Benefits of Kotak Bank Personal Loan Calculator?

  • Fast
  • Simple
  • Convenient
  • Estimate your monthly expenses and have a healthy financial plan

Why should I use Kotak Bank Personal Loan Calculator?

The simplest answer is that it’s fast and it’s convenient. This means that you can do multiple calculations in minutes where such calculations many take longer were you to sit down with a pen and paper. These calculators are also super accurate so it eliminates the possibility of errors in calculations, provided you provide accurate data.

Components of Kotak Bank Personal Loan Calculator?

  1. Amount of Kotak Bank Personal Loan to calculate Kotak Bank Personal Loan EMI
  2. Loan term (months or years) to calculate Kotak Bank Personal Loan EMI
  3. Rate of interest (percentage)  to calculate Kotak Bank Personal Loan EMI

Will Banks Kotak Bank Personal Loan Calculator?

Yes. These days most, if not all, banks have Kotak Bank Personal Loan calculator, specific to various loans, available on their websites.

Kotak Bank Personal Loan Calculator Eligibility

Kotak Bank Personal Loan eligibility and  interest rate depends upon following factors -

  • Loan amount: 

    Generally, banks offer lower interest rates for higher amount.
  • Your Salary: 

    Higher salary bracket individuals are offered Kotak Bank Personal Loans at lower interest rates. Kotak Bank Personal Loan interest rate of the bank varies with your net monthly income.
  • Employer Category: 

    Employer category of the borrower is a major deciding factor in order to determine his/her rate of interest. Every bank has a list of company categories of salaried individuals to which they avail Kotak Bank Personal Loan. So, higher company category leads to low bank Kotak Bank Personal Loan rate.
  • Relationship with the Bank: 

    Every bank offers special rates, offers and charges to the existing account holders of the bank. Those who have managed their accounts and made all the payments on time in past will get benefit of low Kotak Bank Personal Loan interest rate.
  • Loan Tenure: 

    Kotak Bank Personal Loans are of longer repayment tenure of 7 years.
  • Repayment Capacity: 

    Before giving loan to the borrower, every bank checks the repayment capacity of the borrower. Bank verifies the repayment capacity of the customer through CIBIL score or credit score as it has all the details of previous loans taken and their repayments. CIBIL score also gives the information of credit card bills payment.

Eligibility Criteria

Eligibility Details


21 years - 65 years

Minimum Annual Income

Salaried: ₹ 3 Lakhs  Self Employed Professionals: ₹ 4 Lakhs  Self Employed Businessmen: ₹ 4 Lakhs

Minimum Credit Score

700 and above

Loan Tenure

7 years


Documents required to apply Kotak Bank Personal Loan

Salaried Employees:

    • Filled up loan application form
    • 2 Passport Size Photo
    • Copy of Income Tax PAN
    • Identity Proof – Aadhaar, Passport / Driving License / Voter ID / PAN
    • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport
    • Income Documents – 3 months pay slip, 2 years Form 16, 3 months bank statement showing salary credit and any EMI debit


    • Filled up loan application form
    • 2 Passport Size Photo
    • Copy of Income Tax PAN
    • Identity Proof – Aadhaar, Passport / Driving License / Voter ID / PAN
    • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport
    • Income Documents – 3 months pay slip, 2 years Form 16, 3 months bank statement showing salary credit and any EMI debit

Lowest Kotak Bank Personal Loan EMI per lakh


Lowest EMI per lakh

Max Tenure

SBI Kotak Bank Personal Loan

₹ 2,658

48 months

HDFC Bank Kotak Bank Personal Loan

₹ 2,162

60 months

ICICI Bank Kotak Bank Personal Loan

₹ 2,187

60 months

Bajaj Finserv

₹ 2,224

60 months


₹ 2,174

60 months

IDFC First Bank

₹ 2,199

60 months

Axis Bank

₹ 2,187

60 months

Tata Capital

₹ 1,942

72 months

Fullerton India

₹ 2,732

48 months

IndusInd Bank

₹ 2,174

60 months

Kotak Bank

₹ 2,149

60 months

RBL Bank

₹ 2,326

60 months


₹ 2,275

60 months

HDB Financial

₹ 2,326

60 months


₹ 2,224

60 months

Andhra Bank

₹ 2,202

60 months

Yes Bank

₹ 2,174

60 months

Union Bank of India

₹ 2,260

60 months

Bank of Baroda

₹ 3,302

36 months

Syndicate Bank

₹ 2,296

60 months

Standard Chartered Bank

₹ 2,174

60 months

Bank of Maharashtra

₹ 3,471

36 months

Canara Bank

₹ 2,683

48 months

Corporation Bank

₹ 3,367

36 months

Karur Vysya Bank

₹ 3,413

36 months

Federal Bank

₹ 2,608

48 months

Indian Overseas Bank

₹ 2,260

60 months

Indian Bank

₹ 3,276

36 months

Allahabad Bank

₹ 2,283

60 months


₹ 2,286

60 months

Factors affecting Kotak Bank Personal Loan EMI :

Loan amount – 

This is the amount which a borrower decides to take from the bank in the form of a loan. Higher the Kotak Bank Personal Loan amount, higher will be the EMI.

Rate of interest – 

This is the interest charged on the borrowed loan amount. Lower the Kotak Bank Personal Loan interest rate, lower the EMI.

Loan Tenure – 

This is the time period for which you take a loan. Longer the Kotak Bank Personal Loan tenure, lower will be the EMI. Longest loan tenure available across banks in India is 5 years, subject to borrower’s current age and retirement age.

Following table provides a comparison of EMI for a Rs. 1 lakh loan at different tenures:

Loan Tenure

2 years

3 years

5 years

EMI amount for loan amount Rs. 1 lakh at 10.50%

₹ 4,638

₹ 3,250

₹ 2,149

Total amount you pay back to the bank including principal and interest

₹ 1.23 Lakh

₹ 1.36 Lakh

₹ 1.68 Lakh

Interest you have to pay over loan tenure

₹ 23,034

₹ 36,470

₹ 67,905

At the lowest interest rate of 10.50%, the lowest EMI for tenure of 5 years is ₹ 2,149 per lakh. You need to pay an interest of ₹ 67,905 on your loan amount of Rs. 1 lakh over 5 years.

If you take a loan for 2 years at the same rate of interest, you will have to pay a higher EMI of ₹ 4,638 and a total interest of ₹ 23,034 on your loan amount of Rs. 1 lakh for 2 years, which is much lesser than what you paid for a 5 years loan.

Kotak Bank Personal Loan Application Process in India :

  1. Kotak Bank Personal Loan Application Process Online

If the Kotak Bank Personal Loan applicant has an existing relationship with the financial lender, he/she can apply for a Kotak Bank Personal Loan via his/her net banking account and could possibly be eligible for a pre-approval. For other customers, they can apply for a Kotak Bank Personal Loan online by following the steps mentioned below:

    • Visit the website of the financial lender.
    • Under the loan section, choose Kotak Bank Personal Loans.
    • Click on the ‘apply now’ option.
    • Enter the details in the Kotak Bank Personal Loan application form and submit it to the bank.
    • The bank will assess the eligibility of the applicant and request for the submission of the required KYC documents and income documents.
    • If the applicant is found eligible, the bank will disburse the loan amount to the bank account of the applicant, as mentioned in the application form.
  1. Kotak Bank Personal Loan application offline

Listed below is the process of applying for a Kotak Bank Personal Loan at the branch of the financial lender:

    • Visit the branch of the financial lender.
    • Procure the Kotak Bank Personal Loan application form and enter all the required details.
    • Submit relevant documents that prove one’s income, age, address and identity.
    • The lender will then verify the documents and check the eligibility of the applicant.
    • The loan amount will be transferred to the bank account of the applicant if he/she is found eligible.
  1. Email and phone banking requests:

You can leave a request for Kotak Bank Personal Loan with the bank through an email or at the customer service centre of the bank. The bank will review your eligibility and contact you to take the process further.

  1. Request through ATM machine:

Nowadays you can apply for Kotak Bank Personal Loan via ATM kiosks as well. Once you raise a request the bank personnel will contact you.

How Kotak Bank Personal Loan Applications are processed :

The process of sanctioning of a Kotak Bank Personal Loan is simpler than property loans such as home loan and car loan. This is because, in case of property loans, the bank has to verify not just your financial information, but also the credibility and eligibility of the asset that you are purchasing with the loan amount. For Kotak Bank Personal Loan, you are the collateral security yourself, so the bank has to do a background verification only on you.

    • Once the bank receives your loan application, it will check the information provided by you against the data available with them, such as bank balance, salary deposits made into your account, EMIs being deducted from your account, etc.
    • The bank will cross-check and confirm your identity and address details through your Know Your Customer (KYC) documents. Banks may visit you at home to confirm your place of residence and check with your office on your employment tenure.
    • The copy of your Income Tax Return or salary pays lips will help the bank gauge your repayment capacity. This will help determine how much loan amount the bank is willing to sanction to you.
    • Some banks might ascertain your credit-worthiness by finding out your CIBIL score. The higher the CIBIL rating, the more your chances of getting the loan approved.
    • The bank will also review your age, number of years of employment left, and salary growth prospects, to decide how much loan it can approve for you and what the repayment period should be.

Kotak Bank Personal Loan for Govt Employees

  • Interest rate Kotak Bank Personal Loan for government employee starts @11.49%
  • Special offers available for government employees of India and public sector undertakings
  • Nil processing fees for defense personnel
  • Lowest interest rates for employees of public sector banks

As per the current rates, both HDFC and ICICI bank offer the lowest interest rates of 11.49% for Government Employees. Based on processing fee, HDFC Bank and ICICI Bank offer lowest processing fee with 0.99 charges for government employees working in Defense. For central govt. employees, the best Kotak Bank Personal Loan rates are 12.25% to 17.25%.

SBI Kotak Bank Personal Loans for Govt Employees

SBI offers special Loan Schemes for Government Employees in order to meet their urgent fund requirements. SBI Xpress Credit is a loan for meeting medical emergency, wedding or family vacation expenses. All government employees are eligible to avail loan of up to Rs. 15 Lakh from SBI with a maximum tenure of 48 months. SBI Xpress Credit Kotak Bank Personal Loan interest rate starts from 11.90%. Another similar scheme, SBI Pension Loan is a specially designed schemes for government pensioners. Under the scheme, an amount of up to Rs. 14 Lakh is available for government pensioners for a tenure of up to 60 months . Interest rates charged on SBI Pension loan starts at 12.45%.

Government Bodies Who Offer Kotak Bank Personal Loans

Maharatna PSU – 

Maharatna Pubic Sector Undertaking (PSU) can raise the investment of any company from Rs. 1,000 crore to Rs. 5,000 crore. The companies whose 3 years average annual profit is Rs. 5,000 crore or average annual net worth of Rs. 10,000 crore for 3 years or average annual turnover for 3 years is Rs. 20,000 crore are eligible to become a Maharatna PSU. Presently, there are 7 government companies which comes under Maharatna categories and these are BHEL, GAIL India, ONGC, NTPC, Coal India, Indian Oil Corporation and Steel Authority of India. The rates for these PSUs are different from the rates offered to private sector companies. The Kotak Bank Personal Loan rates for Maharatna PSU employees in HDFC Bank are 11.49% - 13.99% and in ICICI Bank are 11.60%.

Navratna PSU – 

Navratna PSUs are decided on six parameters like net worth, net profit, total manpower cost, total cost of production, cost of services, PBDIT (Profit before Depreciation, Interest and Taxes), capital employed etc. A Miniratna company with 4 independent directors on its board team can become a Navratna PSU. Navratna PSU includes 17 companies and some of these are Bharat Electronics, Hindustan Aeronautics, Bharat Petroleum Corporation, Oil India, NMDC etc. Kotak Bank Personal Loan interest rates for Navratna PSU in HDFC Bank are 11.49% - 13.99% and in ICICI Bank are 12.25%.

Public Sector Banks – 

These banks are those whose majority share of more than 50% is held by a government. Currently, there are 21 nationalized banks in India which mainly includes SBI, PNB, Bank of Baroda, UCO Bank etc. The loan rates for Public Sector Bank employees in HDFC Bank are 15.50% and in ICICI Bank are 13.25% - 15.75%.

Central Government Enterprises – 

In these companies, direct holding of Central Government Departments/ Institutes or other Central Public Sector Undertaking is 51% or more. The Kotak Bank Personal Loan rates offered to Central Government Enterprises by HDFC Bank are 15.50% - 17.25% and by ICICI Bank are 12.25% - 16.75%.

Railways – 

Indian Railways is a State-owned national transporter and is owned and operated by Government of India via the Ministry of Railways. Indian Railways employees can get Kotak Bank Personal Loan by HDFC Bank at 14.99% - 16.99% and by ICICI Bank at 12.25% - 16.75%.

State Government Enterprises - 

The rates for State Government employees and Institutes like Universities, Colleges, etc. vary from bank to bank. Currently, HDFC Bank Kotak Bank Personal Loan rates for State Government Enterprises are 15.50% - 17.25% and ICICI Bank rates are 12.25% - 16.75%.

Kotak Bank Personal Loans for Defense Personnel

Banks have come out with special offers for our armed forces, in lieu of their unmatched contribution to India. HDFC and ICICI Bank offer special rates on Kotak Bank Personal Loans for defense personnel as they classify under the armed forces category. Key armed forces category which are eligible for these offers are BSF, CRPF, ITBP, CISF, SSB, NDRF, The Indian Airforce, The Indian Navy and The Indian Army. Some banks also include the Police Department under their schemes for defense personnel. The eligibility of these loan schemes is linked to the seniority and designation of the personnel. The Kotak Bank Personal Loan rates for defense personnel in HDFC Bank are 15.75% and in ICICI Bank are 11.75% - 13.50%. Also, remember to compare the processing fees before taking a Kotak Bank Personal Loan offer for defense personnel as many banks offer nil processing fee on loans for armed forces.

Kotak Bank Personal Loan for Pensioners

Pensioners or retired individuals are often in need of funds to meet their personal expenses such as a child’s wedding or medical expenses. Leading banks such as SBI and ICICI Bank offer loans for pensioners at lowest discounted rates. These loans can be availed by retired employees of Central Government, State Govt. or defense forces. Banks cap the maximum age of pensioners to be eligible for a Kotak Bank Personal Loan at 76 years with a maximum loan tenure of up to 5 years. Banks charge a nominal processing fee for pensioners. SBI charges 12.45% interest rates for pensioners and interest rate of ICICI Bank for pensioners is in the range of 16.00% .

Government Employees Kotak Bank Personal Loan Eligibility

  • Minimum age of the applicant should be 21 years and maximum 65 years.
  • and permanent salaried employees with minimum income of Rs. 20,000 per month are eligible for Kotak Bank Personal Loan. Income eligibility may vary depending upon your profile.
  • Bank gives loans to those applicants who are at least 6 months experienced in their current job with a total experience of 3 years although it may vary bank to bank.
  • CIBIL score matters as Kotak Bank Personal Loans are unsecured loans. Your CIBIL score should be 700 or more than that with a good credit history which is equally important to get approval on loan application.

Loan for Government Employees – Fees & Charges

Bank charge fee from PSU employees on processing and pre closure of Kotak Bank Personal Loan. These charges include -

Processing Fee –

This fee varies from bank to bank and is higher than secured loans and can range upto 2% for government employees.

Pre Closure Fee – 

This fee is charged when you want to close your loan before the completion of the tenure. Foreclosure charges are different in all banks. Most of the banks charge a preclosure fee from nil to up to 5% on outstanding loan amount.

Documents Required for Public Sector Kotak Bank Personal Loan

  • Signed application form
  • Age proof - Passport, PAN Card, Birth Certificate, Employee ID Card
  • Copy of Income Tax PAN
  • Identity Proof – Aadhaar, Passport / Driving License / Voter ID / PAN
  • Address proof – Passport, Voter ID Card, Aadhar Card, Utility bills (not more than 3 months old)
  • Income proof – Form 16 of last 2 years, salary slips of last 6 months and last 6 months bank statement

Kotak Bank Personal Loan Interest Rates of Various Banks


Interest Rates

Lowest EMI per Rs. one lakh

Processing Fee


10.75% - 22.00%

Rs. 2,162

Upto 2.50% Min Rs. 1,999


10.99% - 18.99%

Rs. 2,174

Upto 0.5%


11.25% - 22.00%

Rs. 2,187

Starting from 0.99%, Up to 2.25%

Bajaj Finserv

11.99% - 15.50%

Rs. 2,224

Starting from 1.50%, Up to 3%


11.50% - 19.50%

Rs. 2,199

Starting from 0.75%, Up to 2%

Tata Capital

11.75% - 18.00%

Rs. 1,942

Flat fee of Rs. 1499*, Upto 2.50%

RBL Bank

13.99% - 18.00%

Rs. 2,326

Upto 2%

IndusInd Bank

11.00% - 20.00%

Rs. 2,174

Min 1% to Max 2.50%

Step 1 : Check loan EMI and calculate eligibility

As you decide to take a Kotak Bank Personal Loan, always estimate your loan amount eligibility to know the loan amount you will be eligible for and can apply for. Also calculate the monthly EMI that you can comfortably service given your net take personal salary and other existing fixed obligations including rent and EMIs on other existing loans, if any. Your house loan eligibility is calculated based on your age, net income, existing obligations, property type, LTV ratio and other factors. EMI is dependent on the loan amount, interest rate and tenure. Once you understand your minimum loan requirement, your eligibility and monthly EMI you can comfortably service, shortlist the banks which offer you maximum loan amount to meet your requirements.


Step 2 : Check loan approval status and legal documents

If you are buying a property from builder, then check for the banks which have approved the projects you have shortlisted. For resale property, check the approved map plans and ensure that all property registration papers for the complete chain from the first owner to current owner are in place. Shortlist the banks which lend on your chosen property.

Step 3 : Decide on type of Kotak Bank Personal Loan interest rate offers

As you narrow down the list of banks in Step 2 and 3, you need to conduct an interest rate on Kotak Bank Personal Loan comparison of the loan offers of various banks. Some of the interest rate offers that needs to be checked are:

Choice between fixed and floating rates – Fixed rates come at a slightly higher rate of interest compared to floating rate loans and interest rate remains constant during the tenure of Kotak Bank Personal Loan. In floating rate loan, interest rates are reset at periodic intervals in response to changes in MCLR and PLR rates of banks or NBFCs. Majority of housing loans in India today are floating rate loans as it allows the borrowers to get Kotak Bank Personal Loan interest rate in line with the current interest rates.

Decide if you need a personal saver loan – This is a loan with overdraft facility which allows you to deposit surplus amount in your Kotak Bank Personal Loan overdraft account as and when available, allowing you to reduce your overall interest amount. This loan is highly recommended for salaried individuals with high bonuses and self employed business which is seasonal and has fluctuating cash flows. The interest rates on overdraft loan is slightly higher than that of a regular housing loan interest rate.

You can also evaluate a mortgage guarantee house loan as it covers any default risk and allows the lender to give you loan at low rate of interest. You will however need to pay a mortgage guarantee fee to the bank.

Check and compare the current Kotak Bank Personal Loan interest rates of the banks on various types of loan products and take an informed decision.

Step 4 : Compare shortlisted banks

In addition to interest rates, banks also charge many other fees on Kotak Bank Personal Loans. Along with interest rates, you should check other associated costs with a your loan which include prepayment charges, processing fee, insurance premium and other charges offered by the shortlisted banks. You should calculate all inclusive costs on Kotak Bank Personal Loan to be able to further shortlist the banks and reduce your choice to 2-3 banks.


Step 5 : Select the bank based on other service related parameters

Finally as you decide to take the loan, also consider other service and transparency related parameters of the chosen banks. Some of these factors are turnaround time offered by the banks, quick loan delivery, doorstep services, transparency in the loan process. You also need to understand the trends and changes in MCLR rates over a period of time. Last but not the least, read reviews of existing customers on banks on their services, interest rates and transparency to take your decision to borrow from a bank.

How is Kotak Bank Personal Loan calculated?

Kotak Bank Personal Loan EMI Calculator uses the combination of loan amount, loan tenure and interest rate to calculate EMI online. Besides this, it also tells you how much rate of interest you would pay over your loan period. Longer the loan tenure, more the amount of interest for same loan amount and interest rate.

How much should I pay as monthly EMI for Kotak Bank Personal Loan?

Monthly EMI depends upon your income and expenses. Generally, banks advise you to limit your EMI to 35% to 45% of your net income so that you can pay your EMI without any burden or difficulty. You can calculate your EMI online which will help you to know your repayment capacity.

What if I miss EMI payment or there is an ECS bounce?

If you miss your EMI payment or if there is an ECS bounce then bank may charge a penalty. In addition, it will also be reflected in your CIBIL report and your CIBIL score may get impacted.

What if I get delay in paying the Kotak Bank Personal Loan EMI?

Banks charges penalty for delaying EMI payment. The amount of penalty varies from bank to bank.

Why it is necessary to calculate EMI beforehand?

It is important to calculate your EMI in advance to maintain stability in future payments. When you avail loan, you promise the bank to pay a fixed amount at fixed date every month. So, before availing the loan you should consider the stability of your income, monthly expenses and the existing loan obligations to avoid any discrepancies in future payments.

Does the loan tenure affect my EMI for Kotak Bank Personal Loan?

Kotak Bank Personal Loan can be availed for maximum tenure of 5 years. Tenure affects your monthly EMI. Longer the tenure of Kotak Bank Personal Loan, lower will be your EMI.



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