Personal Loan Of Rs.85,000

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At Kotak811, we’re committed to providing you with financial solutions that are fit to meet your immediate needs. Recognising that unforeseen expenses can arise at any time, we offer Personal Loan of Rs.85,000 designed for quick and easy access.

Our structured process ensures that you can apply, get approved, and receive funds swiftly, enabling you to handle your financial obligations without delay. With Kotak811, you're not just obtaining a loan; you're gaining a partner dedicated to supporting you through your financial journey.

Why should you choose a Kotak811 Personal Loan of Rs.85,000?

A Personal Loan of Rs.85,000 from Kotak811 is more than just a financial transaction. It's a lifeline for when you find yourself in need of immediate funds. Whether it's covering an unexpected medical bill, funding a small personal project, or ensuring you can make that last-minute travel booking, this loan can provide you with the financial flexibility you need.

Our commitment to offering competitive interest rates, coupled with our flexible repayment options, ensures that you can manage your loan repayment comfortably without putting undue strain on your finances.

Key features and benefits: Personal Loan of Rs.85,000

Opting for Kotak811 Personal Loans brings several key advantages to the forefront.

Rapid processing: We prioritise your time and convenience, ensuring that loan approvals and fund disbursals happen as quickly as possible.
Minimal documentation: Our process is hassle-free, requiring only the essential documents to get your loan application moving.
Collateral-free: No need to worry about collateral. Our Personal Loans are unsecured, offering you peace of mind.
Competitive rates: We offer attractive interest rates that ensure your loan is as cost-effective as possible.

Personal Loan interest rates & charges

Here are the details regarding the interest rates and charges.

Charge type	Amount
Interest rate	Tailored to meet your profile, ensuring affordability and starting at 10.99% per annum.
Processing fee	Up to 5% of the loan amount, along with applicable taxes
Prepayment charges	2% of the outstanding principal loan amount + GST
Repayment mode swap charges	Rs.500 + taxes per instance

Eligibility criteria for a Personal Loan

Our eligibility criteria include the following:

Age: One must be between the age of 21-60 years to be eligible for the loan.
Minimum monthly income: If you are a Kotak Salary Account holder, then your minimum monthly income should be Rs.25,000. Similarly, if you are a Kotak811 employee, then your minimum earning should be Rs.20,000 to be eligible for a Personal Loan. But, if you are a non-Kotak811 Salary Account holder, then you must have an income of Rs.30,000 a month.
Work experience: You must have at least one year of work experience.
Employment: As a salaried individual, you must be employed with public limited, MNCs, or private limited companies.
Education: You must also have at least a graduate degree to apply for the loan.

How to use a Personal Loan EMI calculator

Planning your loan is crucial, and our EMI calculator is here to help.

Personalise your plan: Dive into the specifics by adjusting the loan amount, tenure, and interest rate. This flexibility allows you to tailor the loan to fit your unique financial situation, ensuring the monthly EMI aligns with your budget.
Immediate results: The calculator provides instant feedback, clearly showing your monthly financial commitment. This immediate clarity supports informed decision-making, enabling you to assess the feasibility of the loan with precision.
Financial planning: Beyond immediate calculations, this tool is instrumental in your general financial planning. By understanding your EMI, you can integrate this expense into your monthly budget, ensuring that the loan complements your financial health rather than compromising it.
Scenario analysis: Experiment with different loan tenures and interest rates to explore various repayment scenarios. This analysis can help you identify the most cost-effective borrowing strategy, minimising interest payments over the life of the loan.
Total interest payable: Gain insight into the total interest you'll pay over the loan period.

How to apply for a Personal Loan of Rs.85,000

The application process for a Personal Loan of Rs.85,000 with Kotak811 is as smooth and user-friendly as possible. However, the process differs depending on whether you have a pre-approved loan offer or not. If you have such an offer, then you can follow the steps below.

Step 1: Start by downloading the Kotak 811 App on the App Store or the Play Store.
Step 2: Go to the “loans” section within the app to begin the application process.
Step 3: Process the application by selecting the loan amount and EMI tenure (up to 6 years).
Step 4: Approve the loan agreements at the end of the application process and click on “confirm.”
Step 5: Once the application is approved, the loan will be credited to your account directly.

If you do not have a pre-approved loan, then you can connect with our customer care representative or visit our nearest Kotak Bank branch with these documents:

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

Conclusion

The Kotak811 provides a seamless experience with its simplified Personal Loan process. Once you are eligible, it's easy to make an application and get the financial help you need. All you need to do is go through the eligibility criteria and meet the requirements.

As soon as you do, you can collect your documents and make an application online or through the bank branch. It depends on whether you have a pre-approved loan or not. But no matter which process you choose, we are there to help you at every step.

FAQs

1. Can I apply for a Personal Loan of Rs.85,000 from Kotak811 online?

Absolutely! Our digital application process is designed for your convenience, allowing you to apply from anywhere at any time.

2. Are there any prepayment Personal Loan fees & charges?

Our prepayment fees are minimal and transparent, ensuring you're always informed about the costs involved. As such, there will be a processing fee of up to 5% of the loan amount, along with the applicable taxes. There is also a prepayment charge of 2% of the outstanding principal loan amount plus GST. Lastly, there is a repayment mode swap charge of Rs.500, which also includes taxes.

3. How can I use the Personal Loan EMI Calculator to plan my loan?

Our EMI calculator provides a simple way to understand your repayment structure, helping you to budget and plan with ease.

4. What are the advantages of availing a Personal Loan of Rs.85,000?

Our Personal Loan of Rs.85,000 offers quick financial assistance, minimal documentation, competitive rates, and flexible repayment options, making it an ideal solution for your immediate financial needs.