Kotak Mahindra Bank Business Loan - Frequently Asked Questions

What are Magma SME Loans all about?

"At Kotak Mahindra Bank., we understand the unique needs of small and medium enterprises (SMEs) and are keen to support them in their growth. We fund short-term loans up to Rs. 2 crores without any primary or collateral security for business needs, and with payment options for 12 to 48 easy installments. We also offer options of advance installments and structured repayment schedules to match your credit cycle requirements.

Kotak Mahindra Bank provide loan without adequate lead-time within seven working days to facilitate seamless forward movement for your company. With competitive SME loan interest rates, flexible repayment options and a team of dedicated professionals bringing our services to your doorstep, any dream is possible.

What are the different types of SME loans we provide?

Working capital: To bridge the working capital gap and foster growth of businesses. Business Expansion: For expansion of manufacturing facilities, increasing product lines, geographical expansion, technology upgrades, forward/backward integration, augmentation of project loan etc. Margin Money Funding: Margin money required for machinery purchase/LC/BG, purchase of business premises, etc. "

What is the loan process?

Step 1: Submit loan application with required documents. Step

2: Personal visit from credit manager. Step

3: After clearance of queries, if any, decision is made Step

4: Disbursement after submission of agreement and PDCs All key internal processes are handled by a dedicated and knowledgeable in-house team to ensure your application is given due attention and to maintain the highest level of confidentiality. "

How do i apply?

  • Leave your contact details
  • Write to us
  • Visit any of our branches.

What documentation is required for a sme loan?

  • Financial statements from the last three years.
  • Bank statements for the past 6 months.
  • Incorporation documents.
  • Proof of address for factory and/or office.
  • Proofs of age, address and signature for all parties involved in the agreement.
  • Validation proof and tax receipts for the current year’s turnover.

Is there a pre-payment option for your product?

Yes. You can prepay the loan any time after 6 months with a pre-payment fee as per loan agreement.

What is the maximum loan I can borrow?

Kotak Mahindra Bank maximum Loan of upto Rs 2 Crore without collaterals.

What are my tenure options?

Yes. You can choose tenure options between 12 months to 48 months. Self-employed Doctors can get loans upto 60 months.

Can I get an SME Loan without a bank account?

You would need to show a bank statement for the past 6 months.

I stay 75 km from your nearest branch office. Can I still get the SME Loan?

Yes. You can take SME loan upto 125 kms from the nearest branch.

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