Kotak Mahindra Bank Personal Loan - Fees and Charges

Personal Loan Interest rates and charges -

Pay low interest on personal loans and also benefit from our flexible repayment options. For more information on fees and charges refer the table below.

Loan

Business Loan

Personal Loan

Interest Rate

-

11.5% to 24%

Loan Processing Charges

Upto 3% of Loan amount

Upto 2% of the loan amount+ service tax and other applicable statutory levies

Documentation Charges

Upto Rs. 5000

-

Stamping Charges

Applicable as per the respective State's Stamp Act

Applicable as per the respective State's Stamp Act

Credit Administration Charges

-

-

Credit Appraisal Charges

-

Upto 5% of the Loan amount, not exceeding Rs. 7500(inclusive of service tax)

Commitment Charges

-

-

Overdue Interest

3% of Overdue Amount, compounded monthly

3% of Overdue Amount, compounded monthly on the amount due but unpaid from the date of the amount falling due till the date of actual payment

Collection Charges

30% of penal and cheque bouncing charges

30%(inclusive of service tax and other applicable statutory levies)of cheque/instrument dishonour charges+overdue interest

Dishonour Charges per Instance

Rs. 750.00

Rs. 750.00 per instance(inclusive of service tax and other applicable statutory levies)

Swap Charges( Replacement of PDCs)

Upto Rs. 500 per Swap per Instance

Upto Rs. 500 per Swap per Instance+ service tax and other applicable statutory levies

Prepayment Interest / Forclosure Charges

Lock in period till payment of first 6(six) monthly instalment fully. Post 6 EMIs, 5% of foreclosure Loan Amount (plus Service Tax and other applicable statutory levies)

Lock in period for 12 months. After 12 months, 5% foreclosure charges + service tax on principal outstanding

Duplicate Issue of NOC

Rs. 500/-

Rs. 500 + service tax and other applicable statutory levies per instance

Solvency Certificate

Rs. 10000/-

 

No Due Certificate

NIL

Rs. 500 + service tax and other applicable statutory levies per instance

Charges for furnishing a copy of the credit information report (CIBIL) to the applicant.

Rs. 50/-

Rs. 50 + service tax and other applicable statutory levies per instance

Charges applicable in case customer requests for copies of records pertaining to his transactions ( SOA / Amortization Schedule)

Once yearly without any charge. Post that Rs. 250 per request.

Once yearly without any charge. Post thatRs. 250 per request+ service tax and other applicable statutory levies

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