Kotak Mahindra Bank quotes a personal loan rate range rather than one number, and the two ends are far apart. What you are offered depends on your bureau score, income and employer — so the honest way to read the cost is at both ends, not at the advertised floor.
What it costs per month
On a loan of ₹5,00,000 over 5 years:
| Rate | EMI | Total interest |
|---|---|---|
| 10.99% | ₹10,869 | ₹1,52,123 |
| 24.00% | ₹14,384 | ₹3,63,039 |
Principal and interest only. The processing fee, GST, documentation and any insurance sold alongside the loan are additional. As of 2026-09-17.
The spread is the point: the same ₹5 lakh costs ₹2,10,916 more in interest at the top of the range than at the bottom. To try other amounts and tenures, use the EMI calculator, and check the fee side on the Kotak personal loan fees and charges page before you compare offers.
How it compares
Kotak’s floor of 10.99% is the joint 7th cheapest of the 8 providers we track for personal loans, 1.00% above HDFC Bank at 9.99%. ICICI Bank, Axis Bank and IDFC First Bank are also at 9.99%. The full ranked list is on personal loan interest rates.
Half a percentage point between lenders matters far less than which end of a single lender’s range you land in. That is decided by your file, so improving your credit score before applying is usually worth more than shopping the advertised floors.
Other Kotak Mahindra Bank products are indexed on the Kotak Mahindra Bank personal loan page. Terms change without notice — confirm the current figures with the bank before you act.
Sources
- Credsir rate tracker — lender rate pages, checked individually — as of 2026-09-17
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