Personal Loan Of Rs.10 Lakhs

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Secure the financial support you need with ease by obtaining a Personal Loan of Rs.10 lakhs from Kotak811. Our streamlined process allows you to access funds quickly and conveniently. With Kotak811 Personal Loans, financial flexibility is at your fingertips.

Say goodbye to the issues of collateral requirements - our Rs.10 lakh Personal Loan is the solution for a variety of financial needs. Experience the convenience of accessing funds without the stress of extensive paperwork.

Eligibility criteria for a Personal Loan of Rs.10 lakhs

Here are the eligibility requirements for a Personal Loan of Rs.10 lakhs. You can also use our Personal Loan Eligibility Calculator for your convenience.

Employment status: Eligible applicants include salaried individuals employed in MNCs, public limited companies, or private limited companies.
Age: Applicants must be between 21 and 60 years old.
Minimum monthly income:
- For Kotak Salary Account holders: A minimum net monthly income of Rs.25,000 is required.
- For Non-Kotak811 Salary Account holders: Applicants should have a minimum net monthly income of Rs.30,000.
- Kotak811 employees: A minimum net monthly income of Rs.20,000 is required.
Educational qualification: Applicants must hold a graduation degree.
Work experience: A minimum of one year of work experience is required.

Before applying, ensure you meet these Personal Loan Eligibility Criteria to move closer to achieving your financial goals. To determine your eligibility for a Rs.10 lakh Personal Loan from Kotak811, you can also conveniently use our online calculator on the official website.

Personal Loan EMI for a loan amount of Rs.10 lakhs for 6 years

Make your financial journey smoother by choosing a comfortable Rs.10 lakh Personal Loan EMI plan with repayment tenure spanning up to 6 years. With this extended tenure, your monthly payments are tailored to align with your budget, ensuring convenience every step of the way. Use the Personal Loan EMI calculator to get the estimated EMI at your fingertips.

At Kotak811, we offer the flexibility to tailor your repayment plan according to your financial circumstances. This empowers you to adjust the tenure of your Rs.10 lakh Personal Loan, ensuring that the monthly EMI fits comfortably within your budget constraints.

Loan amount (Rs.)	Interest rate (p.a.)	Tenure (years)	EMI (Rs.)
Rs.10 lakhs	10.99%	1	88,376
Rs.10 lakhs	10.99%	2	46,603
Rs.10 lakhs	10.99%	3	32,733
Rs.10 lakhs	10.99%	4	25,840
Rs.10 lakhs	10.99%	5	21,737
Rs.10 lakhs	10.99%	6	19,028

Interest rates and charges on a Personal Loan of Rs.10 lakhs

Interest rate: Personal Loan interest rates start at 10.99% per annum.
Loan processing charges: Up to 5% of the loan amount plus applicable taxes. These charges are non-refundable.
Pre-payment charges:
- Part-prepayment is allowed for up to 2% of the principal loan outstanding plus GST. This option is available once per financial year.
Repayment mode swap charges: Rs.500 plus taxes per instance.

Steps to apply for a Rs.10 lakh Personal Loan

Pre-approved Personal Loan application process:

Here are some of the steps to apply for a Kotak811 Personal Loan if you have already been pre-approved.

Start with downloading the Kotak811 App from the App Store and Play Store.
Get to the “Loans” section within the app and initiate the application process.
Select your desired loan amount and preferred EMI tenure.
After you have filled out the application and submitted the documents, you can approve the loan agreements and confirm them.
Upon the application’s approval, the loan amount will be credited to your account.

Regular Personal Loan application process:

If you do not have a pre-approved loan, then you need to reach out to our customer care services or even visit the nearest Kotak bank brand with these documents.

Identify proof: Carry your Aadhaar Card, PAN Card, Passport, Driving License, or Voter ID Card.
Income proof: Bring salary slips if you are a salaried individual, and also get three months of bank statements.
Photographs: You will need 2-3 recent passport-sized photographs.
Residence proof: Include Passport, Aadhaar Card, or Driving License.

Conclusion

Kotak811 Personal requires minimal documentation and takes just a few steps to apply. All you need to do is check whether you meet the requirements to get a Personal Loan of Rs.10 lakhs. Estimate your EMI using the Personal Loan calculator and make the application online or get in touch with the customer service representatives immediately.

FAQs

1. What is the minimum monthly income required to be eligible for a Rs.10 lakhs Personal Loan from Kotak811?

To qualify for a Rs.10 lakhs Personal Loan, applicants must meet the minimum monthly income requirements set by Kotak811. For Kotak salary account holders, a minimum net monthly income of Rs.25,000 is required, while non-Kotak811 salary account holders must have a minimum net monthly income of Rs.30,000. Kotak811 employees need to demonstrate a minimum net monthly income of Rs.20,000.

2. Can I prepay my Personal Loan?

Yes, prepayment is allowed for up to 2% of the principal loan outstanding plus GST. However, this option is available only once per financial year. A minimal Personal Loan fee and charge of Rs.500 plus taxes is applicable for every prepayment instance.

3. What documents are required to apply for a Rs.10 lakh Personal Loan from Kotak811?

To apply for a Rs.10 lakh Personal Loan, you will need to submit various documents, including ID proof (such as PAN Card, Passport, Aadhaar Card, Voter’s ID Card, or Driving License), bank statements for the last 3 months, residence proof, salary slips for the last 3 months, and 2-3 passport-sized photographs.

4. Can I apply for a Rs.10 lakh Personal Loan online?

Yes, you can conveniently apply for a Rs.10 lakh Personal Loan through Kotak811's official app. Follow the steps given above to download this app from the App Store or the Play Store and to make your official application. From there, you need to wait for your application to be approved, after which you will get the loan amount.