What Kotak Mahindra Bank charges for a personal loan, what it costs in rupees, and how it compares with every other provider we track. The advertised rate starts at 10.99% p.a., and Kotak Mahindra Bank can charge up to 24.00% for this product — the advertised figure is a starting rate, not an offer.
Rate, maximum and fees
| Advertised rate | Maximum rate | Terms | Fee |
|---|---|---|---|
| 10.99% | 24.00% | Up to 6 years | Up to 5% of loan amount + taxes |
Updated 17 Sep 2026 · Lender rate pages, checked individually
What that costs in rupees
On ₹5,00,000 over 5 years.
| EMI at 10.99% | ₹10,869/month |
|---|---|
| Total interest | ₹1,52,123 |
| EMI at the 24.00% maximum | ₹14,384/month |
| Extra interest at the maximum rate | ₹2,10,916 |
Principal and interest only. Processing fee, GST, documentation and any insurance sold alongside the loan are additional. To try a different amount or tenure, use the EMI calculator.
How it compares
Kotak Mahindra Bank is the joint 7th cheapest of the 8 providers we track — 1.00% above HDFC Bank at 9.99%. The full ranking sits on personal loan interest rates.
What moves this rate
Private sector bank. Floating retail loans are priced off an external benchmark, so RBI rate cuts pass through within a reset cycle.
Personal loan rate ranges are much wider than home loan ranges. The reason is simple: nothing backs the loan. There is no property to recover, so the rate has to cover the whole risk. A bank advertising from around 10% can quote more than double that to someone with a thin credit history.
The tenure is much shorter than a home loan, usually five or six years. That keeps your total interest down but pushes the EMI up. Check the early-closure terms before you sign. Being able to prepay without a charge is worth more than a small difference in the rate.
Kotak Mahindra Bank personal loan in detail
- Interest rate — what the bank advertises against the most it can charge. The gap is much wider than on a home loan.
- EMI — what it costs a month at both ends of the published range.
- Fees and charges — the processing fee as published, plus the 18% GST charged on top of it.
Other Kotak Mahindra Bank products
- Home loan — from 7.60%
- Fixed deposit — from 6.65%
Related reading
Kotak Mahindra Bank Fixed Deposit
What Kotak Mahindra Bank pays on a fixed deposit, what it is worth after tax, and how it ranks against every other provider we track.
2 Oct 2026 · 2 min
Kotak Mahindra Bank Home Loan
Kotak Mahindra Bank advertises a home loan from 7.60% and publishes a maximum of 9.50% — what that costs in rupees.
17 Sep 2026 · 2 min