Personal Loan Of ₹50,000 On Aadhaar Card

Kotak811 Personal Loans are notable for ease and effectiveness and demand minimal paperwork. Applicants need to furnish their Aadhaar Card as the primary KYC document. It simplifies the verification procedure, ensuring swift loan approval.

Whether you are preparing for anticipated expenditures or managing unanticipated financial challenges, our Personal Loan of Rs.50,000 on Aadhaar Card is easily accessible, ensuring convenience for all borrowers.

Benefits – Personal Loan of Rs.50,000 on Aadhaar Card

Obtaining a Personal Loan on your Aadhaar Card through Kotak811 offers several key benefits:

• Affordable interest rate: With competitive Personal Loan interest rates starting from 10.99% per annum, borrowers can save on interest payments over the loan tenure, ensuring responsible borrowing and effective financial management.
• Flexible repayment: Repay your Aadhaar Loan conveniently with flexible tenure options of up to 6 years, allowing you to choose a repayment schedule that suits your financial circumstances.
• Collateral-free: Access funds without the hassle of providing collateral or security, simplifying the borrowing process and making it more accessible to individuals.

Steps to apply for a pre-approved Personal Loan

Applying for a pre-approved Personal Loan through Kotak811 involves the following simple steps:

• Step 1: Install the Kotak811 App from the Play Store or App Store.
• Step 2: Open the app and go to the ‘Loans’ section.
• Step 3: Choose your loan amount and EMI tenure based on your needs.
• Step 4: Review the loan agreement carefully and approve it to proceed.
• Step 5: Once approved, the loan amount will be instantly credited to your Kotak811 account.

Application process for a regular Personal Loan of Rs.50,000

If you haven’t been pre-approved for a Personal Loan, you will have to follow the given process:

• Step 1: Either contact our Customer Care team or visit the nearest Kotak Bank branch with the necessary documents.
  • Photographs: Have 2-3 recent passport-sized photographs
  • Residence Proof: Include an Aadhaar Card, Driving License, or Passport
  • Income Proof: You will need three months of bank statements and salary slips if you are a salaried individual
  • Identity Proof: It includes an Aadhaar Card, PAN Card, Voter’s ID Card, Passport, or Driving License.
• Step 2: Submit your application. Provide the required documents and complete the application process with assistance from our team.
• Step 3: Once approved, your loan amount will be disbursed to your account.

Personal Loan interest rates and charges

At Kotak811, we prioritise affordability and accessibility when it comes to Personal Loans. With competitive interest rates, our aim is to ease your financial burdens. Alongside, we ensure transparency in our charges:

• Interest rate: Our Personal Loan interest rates begin at 10.99% per annum, offering you a competitive borrowing option.
• Loan processing charges: For loan processing, we levy a non-refundable fee of up to 5% of the loan amount plus the applicable taxes.
• Pre-payment charges: Prepayment of up to 2% of the principal loan outstanding + GST.
• Repayment mode swap charges: Should you require a change in repayment mode, a fee of Rs.500 plus taxes per instance applies.

At Kotak811, we strive to provide you with transparent Personal Loan fees and charges to meet your needs and empower your financial journey.

Eligibility criteria to avail a Personal Loan on Aadhaar Card

At Kotak811, we have specific Personal Loan eligibility criteria. Here's a breakdown of the requirements:

• Employment: Applicants must hold employment in reputable sectors such as multinational corporations (MNCs), public limited companies, or private limited companies.
• Age: Individuals applying for a Kotak811 Personal Loan must fall within the age range of 21 to 60 years.
• Minimum monthly income: The minimum net monthly income required for eligibility for a Personal Loan from Kotak811 varies depending on the applicant's relationship with the bank. For Kotak Salary Account holders, a minimum net monthly income of Rs.25,000 is mandatory, while non-Kotak811 Salary Account holders are required to have a minimum net monthly income of Rs.30,000. Kotak811 employees must demonstrate a minimum net monthly income of Rs.20,000.
• Education: Additionally, applicants must have completed graduation to qualify for a Personal Loan from Kotak811.
• Work Experience: A minimum of one year of work experience is required.

Calculate your EMI for a Personal Loan of Rs.50,000

To use Kotak811 Personal Loan EMI Calculator, follow these simple steps:

• Input the loan details, including the desired loan amount within the provided range.
• Enter the interest rate offered by Kotak811 into the calculator.
• Specify the repayment period for the loan.
• Instantly obtain the EMI amount using the Personal Loan EMI Calculator.

Conclusion 

Taking a Kotak811 Personal Loan has become easier than ever before, with its endless benefits. You can use the information to get a loan of Rs.50,000 immediately. At the same time, ensure that you have all the right documents beforehand to get the loan. This way, there will be no last-minute hassles to stop you from fulfilling your financial obligations.  

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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.