Personal Loan Of Rs.15 Lakhs

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At Kotak811, we understand the importance of confidently meeting your financial needs for significant purchases and endeavours. Our Personal Loans, offering up to Rs.15 lakhs, are designed with attractive interest rates and flexible repayment options for a tenure of up to 6 years.

With our simplified processes, you can access the funds you need quickly, allowing you to focus on what truly matters to you. Discover how easy it is to apply for a Rs.15 lakh Personal Loan with Kotak811.

A Personal Loan of Rs.15 lakhs from Kotak811 is your solution to achieving your financial objectives without hassle. You can pursue your desires without undue financial strain with competitive interest rates and adaptable repayment plans. It's a straightforward approach to realising your dreams and making significant purchases and acquisitions within reach.

Features and benefits of a Personal Loan of Rs.15 lakhs

Here are some of the features and benefits of getting a Rs.15 lakh Kotak811 Personal Loan.

Features:

Streamlined application process requiring only essential documents.
Enjoy affordable rates to alleviate the burden of repayment.
Access up to Rs.15 lakhs for diverse financial requirements.
Hassle-free and swift processing for instant disbursal of funds.
Clear parameters, including employment status, age, income, and educational qualifications.
Convenient online platform for easy and accessible application submission.
Customised tenures to match individual repayment capabilities.

Benefits:

Timely access to funds is facilitated by rapid processing.
Clear disclosure of fees ensures transparency.
Fulfil various financial needs with a substantial loan amount.
Affordable Interest Rates ensure manageable EMIs.
An easy application and tracking process are available online for customer convenience.
Comfortable repayment schedules tailored to individual preferences.
Simplified document submission for enhanced convenience.

Personal Loan eligibility criteria

To qualify for a Rs.15 lakh Personal Loan from Kotak811, applicants must meet specific Eligibility criteria to promote responsible lending while accommodating diverse financial backgrounds. You can also check your eligibility with our Personal Loan Eligibility Calculator. Here are the key eligibility parameters:

Applicants should be employed with an MNC, public limited company, or private limited company.
Applicants must be between 21 years and 60 years of age.
Applicants must have at least a graduation degree.
A minimum of one year of work experience is required.
Minimum Monthly Income:
- Minimum net monthly income of Rs.25,000 for Kotak Salary Account holders
- Minimum net monthly income of Rs.30,000 for Non-Kotak811 Salary Account holders
- Minimum net monthly income of Rs.20,000 for Kotak811 employees

Meeting these Personal Loan Eligibility Criteria demonstrates financial stability, a consistent income source, and the loan's repayment capacity. This increases the likelihood of approval for a Rs.15 lakh Personal Loan from Kotak811.

Personal Loan EMI of Rs.15 lakhs

Loan amount	Interest rate (p.a.)	Tenure (years)	EMI (Rs.)
Rs.15 lakhs	10.99%	1	1,32,565
Rs.15 lakhs	10.99%	2	69,904
Rs.15 lakhs	10.99%	3	49,100
Rs.15 lakhs	10.99%	4	38,761
Rs.15 lakhs	10.99%	5	32,606

Personal Loan interest rates and charges

At Kotak811, we prioritise affordability and accessibility regarding Personal Loans. Whether looking for competitive Personal Loan interest rates or seeking a loan tailored to your financial needs, we've got you covered. Our Personal Loan options feature some of the lowest Interest Rates in the market, designed to alleviate your financial burdens.

Here's a breakdown of our Personal Loan credit facilities and associated charges:

Interest rate for Personal Loan: Starting at 10.99% per annum
Loan processing charges (non-refundable): Up to 5% of the loan amount + Applicable Taxes
Pre-payment charges: Prepayment is allowed up to 2% of the principal loan outstanding along with GST.
Repayment mode swap charges: Rs.500 + Taxes per instance

We believe in providing transparent and straightforward Personal Loan fees and charges to ensure a seamless borrowing experience for our customers.

Steps to apply for a Personal Loan of Rs.15 lakhs

Applying for a Personal Loan of Rs.15 lakhs with us is a hassle-free experience designed to cater to your convenience. Here is a simple way you can apply for the loan if you are already pre-approved from before.

Download the Kotak811 App: Start your application journey by downloading the application from the Play Store or the App Store.
Reach the “loans” section: Next, go to the loans section of the app to access the application form.
Start the application process: Pick your desired loan amount and the EMI tenure as a part of your loan application.
Review and confirm: Once you have filled in the application, review all that you have filled out, approve the loan agreements, and confirm.
Loan approval: Once your loan application is approved, you will get the amount credited into your account.

While this is the online process, if you are not pre-approved for a loan, then you can either reach out to our customer service representatives or take the following documents and get to our nearest Kotak Bank branch.

Residence proof: Carry documents like your driving license, passport, or your Aadhaar Card as the residence proof
Identity proof: Take the Aadhaar Card, Passport, PAN Card, Voter’s ID card, or even the Driving License
Income proof: Have three months of bank statements, but if you are a salaried person, then you must carry your salary slips as well
Photographs: Ensure that you have two to three recent passport-sized photographs as well

With our Personal Loan EMI Calculator and efficient application process, you can access the funds you need quickly and without unnecessary hassle.

Conclusion

At Kotak811, we offer a seamless and convenient solution for individuals seeking financial assistance with our Rs.15 lakh Personal Loan. With competitive interest rates, flexible repayment options of up to 6 years, and a hassle-free application process, we strive to make your borrowing experience smooth and stress-free.

Whether you want to fulfil personal aspirations, manage unexpected expenses, or make significant purchases, our Personal Loans provide the financial support you need. Trust Kotak811 to be your partner in achieving your goals and securing your financial future. Apply now and experience the ease of accessing funds tailored to your needs.

FAQs

1. Will I need any collateral to get the Kotak811 Personal Loan?

No, you will not need any mortgaging assets or guarantors to get the Kotak811 Personal Loan. It is one of the benefits of applying for this loan.

2. How long will it take to get the loan after applying for it?

The time it takes for you to receive your loan depends on how fast the application is approved. If everything is in the right order, then you may get your loan within a short time. But it can take longer if errors or other mishaps are found.

3. What are the different charges applicable to a Personal Loan?

The Personal Loan charges include the interest rate, the processing fee, prepayment charges, and the repayment mode swap charges. The precise rate and percentages for these charges have been mentioned above.