Personal Loan Of Rs.2 Lakhs On Aadhaar Card

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A Kotak811 Personal Loan stands out for its simplicity and efficiency, offering loans of Rs.2 lakhs with the ease of Aadhaar Card verification. The process is streamlined and requires minimal paperwork, with the Aadhaar Card serving as the primary KYC document.

If you're planning for expected expenses or facing unforeseen financial situations, our Personal Loan of Rs.2 lakhs on Aadhaar Card provides a seamless and accessible solution, no matter where you are.

Benefits of a Personal Loan from Kotak811

Securing a Personal Loan based on your Aadhaar Card through Kotak811 provides numerous advantages tailored to meet your financial needs:

Affordable interest rate: Benefit from competitive Personal Loan interest rates starting from just 10.99% per annum. This enables borrowers to save significantly on interest payments throughout the loan tenure, promoting responsible borrowing and effective financial management.
Flexible repayment options: Enjoy the convenience of choosing a repayment tenure of up to 6 years. This flexibility empowers borrowers to tailor their repayment schedule according to their financial circumstances, ensuring ease and manageability.
Collateral-free access: Kotak811 Personal Loan eliminates the need for collateral or security, streamlining the borrowing process and making it more accessible to individuals. Borrowers can access funds without the burden of providing assets as security, enhancing convenience and accessibility.

By availing of Kotak811 Personal Loan, borrowers can address their financial requirements with confidence. You can also check your EMI using our Personal Loan EMI calculator.

Apply for a pre-approved Personal Loan

If you've been pre-approved for a Personal Loan, accessing funds is quick and effortless. Simply follow these easy steps to claim your offer:

Download the Kotak811 App: Get the App from the Play Store or App Store and install it on your device.
Go to the 'Loans' section: Open the app and navigate to the ‘Loans’ section for a seamless experience.
Start your loan application: Choose the loan amount and EMI tenure that works best for you.
Review and confirm: Go through the loan agreement and confirm your details.
Loan disbursal: Once approved, the loan amount will be directly credited to your Kotak811 account for easy access.

How to apply for a Personal Loan (without pre-approval)

If you haven’t received pre-approval for a Personal Loan, don’t worry. You can still apply easily by following these steps:

Contact us or visit a branch: Reach out to our customer care or visit the nearest Kotak Bank branch to start your application.
Documents required: You’ll need to provide the following documents:
- Identity proof: Choose from an Aadhaar Card, PAN Card, Passport, Voter's ID, or Driving License.
- Income proof: Submit your bank statements and salary slips from the last three months (for salaried individuals).
- Residence proof: Provide an Aadhaar Card, Passport, or Driving License.
- Photographs: 2-3 recent passport-sized photos.

By having these Personal Loan required docs prepared, you can facilitate a seamless and efficient application process, enabling quick access to funds when needed.

Interest rates and charges for Personal Loans

Kotak811 is committed to offering affordable and accessible Personal Loans, ensuring transparency and flexibility in our interest rates and charges:

Interest rate: Benefit from competitive interest rates starting as low as 10.99% per annum, providing you with a cost-effective borrowing option.
Loan processing charges: As part of the loan processing, Kotak811 applies a non-refundable fee of up to 5% of the loan amount, including applicable taxes.
Prepayment charges: The pre-payment is 2% of the outstanding principal loan amount plus GST.
Repayment mode swap charges: Should you require a change in the repayment mode, Kotak811 applies a nominal fee of Rs.500 plus taxes per instance.

At Kotak811, we aim to ask for flexible and competitive Personal Loan fees & charges to cater to your financial needs and empower your journey towards financial stability.

Eligibility criteria for a Kotak811 Personal Loan on Aadhaar card

Kotak811 has defined specific eligibility criteria for individuals seeking a Personal Loan of Rs.2 lakhs. Here's a comprehensive breakdown of the requirements:

Employment: Applicants must be employed in esteemed sectors such as multinational corporations (MNCs), public limited companies, or private limited companies.
Age: Individuals applying for a Kotak811 Personal Loan must be within the age bracket of 21 to 60 years.
Minimum monthly income: The minimum net monthly income required for eligibility varies based on the applicant's relationship with Kotak811:
- Kotak salary account holders: A minimum net monthly income of Rs.25,000 is mandatory.
- Non-Kotak811 salary account holders: A minimum net monthly income of Rs.30,000 is required.
- Kotak811 employees: A minimum net monthly income of Rs.20,000 is necessary.
All applicants must have completed graduation to qualify for a Personal Loan from Kotak811.
Work Experience: A minimum of one year of work experience is mandatory for applicants.

Conclusion

A Kotak811 Personal Loan on Aadhaar Card presents a streamlined borrowing process with minimal paperwork. The absence of collateral further enhances accessibility, allowing individuals to obtain funds without security obligations. Simplified application procedures, transparent fee structures, and online tools like the Personal Loan Eligibility Calculator ensure a convenient experience. With swift approval mechanisms, Kotak811 stands as a reliable partner, empowering individuals to navigate their financial journeys with confidence and ease.

Personal Loan of Rs.2 lakhs on Aadhaar Card FAQs

1. Can I get a Rs.2 lakhs loan without income proof?

Every applicant needs to submit their proof of income in order to get a 2 lakhs loan.

2. What are the benefits of a Personal Loan on Aadhaar Card?

A Personal Loan on Aadhaar Card offers up to Rs.35 lakhs with minimal documentation, instant approval, flexible repayment (up to 6 years), no collateral, and complete transparency.

3. Can I get a loan if I do not have a driving license?

Yes, you can choose different identity proofs, including an Aadhaar Card, PAN Card, Passport, Voter's ID, or Driving License.

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This Article is for information purposes only. The views expressed in this Article do not necessarily constitute the views of Kotak Mahindra Bank Ltd. (“Bank”) or its employees. Bank makes no warranty of any kind with respect to the completeness or accuracy of the material and articles contained in this Newsletter. The information contained in this Article is sourced from empanelled external experts for the benefit of the customers and it does not constitute legal advice from Kotak. Kotak, its directors, employees, and contributors shall not be responsible or liable for any damage or loss resulting from or arising due to reliance on or use of any information contained herein.