Personal Loan For Small Amounts

Kotak811 offers a Personal Loan for small amounts to help you access funds for any kind of financial obligation. Whether you need a few thousand rupees for medical bills, home repairs or everyday expenses, the loan provides quick support. You can borrow any amount up to Rs.35 lakhs, depending on your eligibility.

With interest rates starting at 10.99% per annum, it offers an affordable way to bridge short-term cash gaps without unnecessary delays or complications.

Benefits of a Kotak811 Personal Loan for small amounts

• Collateral-free: With a Kotak811 Personal Loan for small amounts, borrowers can access funds without collateral.
• Easy application and documentation: Kotak811 offers a seamless banking experience with convenient processes for loan application.
• Flexible repayment: Borrowers can enjoy the flexibility of choosing convenient loan tenures of up to 6 years based on their financial circumstances.
• Competitive interest rate: Kotak811 Personal Loans offers interest rates starting as low as 10.99% p.a.

Steps to Apply for a Personal Loan of Small Amounts Online

Kotak811 makes it easy to get a Personal Loan for small amounts through a seamless digital process. If you’ve been pre-approved for a loan, you don’t need to worry about documentation. Here’s a simple step-by-step guide to complete your application:

1. Download the Kotak811 App: Available for download on the Play Store or App Store.
2. Navigate to the 'Loans' section: Open the app and go to the 'Loans' section.
3. Start your application: Select the amount you need and set your preferred EMI tenure.
4. Review and confirm: Carefully review the loan details, approve the agreement, and confirm your application.
5. Instant disbursal: Once approved, the loan amount will be credited to your Kotak811 account immediately.

Documents for a regular Personal Loan application of small amounts

If you don’t have a pre-approved offer, you can still apply for a Personal Loan by visiting the nearest Kotak Bank branch. The process is straightforward and hassle-free. Simply ensure you carry the following documents with you:

• Proof of identity: Any government-issued ID such as Aadhaar Card, PAN Card, Passport, Voter ID, or Driving License.
• Proof of income: Recent bank statements for the last three months and salary slips for salaried individuals to authenticate income details.
• Proof of residence: Aadhaar Card, Passport, or Driving License to confirm your address.
• Photographs: Two or three recent passport-sized photographs.

The branch staff will guide you through the rest of the application process and help ensure everything is completed smoothly.

Eligibility criteria - Personal Loan for small amounts 

• Nature of employment: Applicants must be employed with an MNC, public limited company, or private limited company.
• Age: Individuals aged between 21 years and 60 years are eligible to apply.
• Minimum monthly income:
  • For Kotak Bank Salary Account holders: Minimum net monthly income of Rs.25,000.
  • For Non-Kotak811 Bank Salary Account holders: Minimum net monthly income of Rs.30,000.
  • For Kotak811 Bank Employees: Minimum net monthly income of Rs.20,000.
• Minimum educational qualification: Graduation is a prerequisite for eligibility.
• Work experience: Applicants must possess at least one year of work experience when applying.

Interest rates and charges - Personal Loan for small amounts

• Interest Rate: The interest rate for Kotak811 Personal Loan starts at 10.99% p.a.
• Loan Processing Charges: Up to 5% of the loan amount, plus applicable taxes.
• Pre-Payment Charges: 2% of the outstanding principal loan amount, plus applicable GST.
• Repayment Mode Swap Charges: Rs.500 + taxes per instance for changing the repayment mode.

Conclusion

Kotak811 makes accessing financing for small amounts simple, fast and convenient. Before applying, make use of the Personal Loan EMI Calculator to estimate your monthly installments. This tool allows you to plan your finances effectively and avoid surprises later.

Additionally, the Personal Loan Eligibility Calculator can help you determine if you qualify for a loan and the maximum amount you can borrow. Take the first step toward bridging your financial gap today. With flexible options, competitive rates, and an easy application process, Kotak811 is here to support you every step of the way.

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*Terms & Conditions apply.

Credit at the sole discretion of Kotak Mahindra Bank Ltd. and subject to guidelines issued by RBI from time to time. Bank may engage the services of marketing agents for the purpose of sourcing loan assets. Personal Loan will not be disbursed if the Savings Account is in dormant or freeze state.