For all the unplanned and even planned financial needs, Kotak Mahindra Bank assists borrowers in managing the temporary monetary shortfall. Simply at the tap of a button the loan can be availed, only by submitting a few simple documents online. The personal loan availed from Kotak Mahindra Bank can be utilized for funding for the higher education of the child, home renovation, purchasing a two-wheeler, for the down payment of the home loan, for travel,  planning a wedding, for a medical emergency, etc.

Kotak Mahindra Bank Personal Loan EMI Calculator

The EMI Calculator is a free tool designed to calculate the monthly EMI outflow, by putting the details of the loan amount, loan tenure, and interest rate. The details presented by the Calculator is accurate which assists in evaluating the loan amount which an applicant is required to apply for. EMI is the sum of interest as well as principal amount, payable monthly towards repayment of the debt amount. 


Personal Loan EMI Calculator results for different tenures

Kotak Mahindra Personal Loan at 11.29%         

Loan Amount

1 year

2 year

5 year

Rs 1,00,000

Rs 8,851

Rs 4,674 

Rs 2,188

Rs 2,00,000

Rs 17,703

Rs 9,348

Rs 4,377

Factors affecting Kotak Mahindra Bank EMI

  • Interest Rate – The total cost of the loan and EMI is affected by a higher interest rate. Kotak Mahindra Bank offers Personal loans at 11.29% p.a. It is advisable to do a thorough analysis of interest rates before applying for a loan.
  • Loan Tenure – Kotak Mahindra Bank offers the loan for a maximum tenure of 60 months. Lowering of personal loan EMI is dependent on longer tenure.
  • Loan Amount – Higher loan amount invites higher EMI.  Kotak Mahindra Bank offers a maximum loan amount of Rs 15 lakh.

Kotak Mahindra Bank Personal Loan EMI Calculation Formula

The formula for calculating personal loan adopted by Kotak Mahindra Bank is P*r* (1+r)^n/([(1+r)^n]-1)

Below is the illustration of how Kotak Mahindra Bank Personal Loan EMI is calculated:

n = Tenure in month

r = Per month rate of interest

P= Loan Amount

Kotak Mahindra Bank Personal Loan EMI Calculator - Features and Benefits

The EMI Calculator does the calculations for you within minutes, giving an estimate of monthly outflow of debts. Let us find out the benefits of using a personal loan EMI Calculator. 

  • Graphical representation of data- The role of EMI Calculator is not restricted to mere providing data. The graphical representation of the data make the individual aware of the gradual payment which they are going to make towards the loan amount. 
  • Accuracy – The result displayed by the EMI Calculator on computing details like loan amount, loan tenure, and interest rate, will be accurate. This may not be possible in case of manual calculation.
  • Time Saver- Manual calculation of the EMI would take much time posing chances of incorrect details at times. Using EMI Calculator will reduce the task to friction of seconds. It is more suitable in deriving a correct estimate.
  • 24/7 availability – There is no restriction on using the EMI Calculator as many times one wants. An applicant can check the details by computing the loan amount, interest rate, tenure and figure out by analyzing how much loan is required. It allows to adjust the details and check which one is working for you.

How to use Afinoz Personal Loan EMI Calculator

Using Personal loan EMI Calculator at Afinoz is quite simple and can be easily made use of even by the first- time user. Afinoz is a marketplace for users to compare and shop for the best loans under one umbrella. The interest rates offered are affordable, with easy application through the website and the app. 

Visit the website and go to the section of the EMI calculator. Compute the details and get results within a fraction of seconds. The EMI Calculator is simple to use and gives you the details, without putting up much effort. The accuracy of the data is noteworthy and can be made use of in figuring out the future requirement of applying for the loan amount.

Kotak Mahindra bank personal loan interest rate

The various factors which influence interest rates of personal loan are credit score, employer of the applicant, income of the applicant, age, etc. The interest rate offered by Kotak Mahindra Bank ranges from 11.29% to 19.99%. 

Personal Loan Eligibility Criteria- Kotak Mahindra Bank

An applicant in the age range of 21-58 years, and who is employed with an MNC, Public or Private limited company is eligible for availing a personal loan from Kotak Mahindra Bank. The following are the criteria for availing the personal loan from Kotak Mahindra Bank.

  • Net minimum salary of Rs. 20,000/- per month
  • Minimum work experience of at least 1 year
  • An active resident of the city for at least 1 year
  • Minimum educational qualification of being a graduate

Documents required for Kotak Mahindra Personal loan

For salaried applicant 

Proof of Identity- Voter ID, Aadhar Card, PAN Card, Passport, Driving License

Proof of Residence – Leave and license agreement, Utility Bill, Passport, Aadhar Card, etc.

Last 3 months bank statement

Past 3 months’ salary slip

2-3 passport size photographs

How to apply for a Personal loan from the bank

A personal loan from Kotak Mahindra Bank can be applied both online and offline. For online an applicant will have to visit the website and go to the personal loan page, wherein it can be applied instantly. It can be applied at any time of the day from the comfort of home or office. 

For the offline method, the applicant can visit the branch office and apply for the loan in person, by filling the application form and submitting the necessary documents.