Kotakmahindrabank understands how small steps can make a big difference in achieving your business objectives. They offer a variety of collateral-free customized business loan solutions that are the best fit for your business needs to help you achieve emerging milestones of achievements every day.
Uday Kotak mentioned that vision is to be the best and leading financial service provider, which will give high values to it’s customer.
Table of Contents
Features and Benefits
- The business loan ranges from Rs. 3 Lakhs to Rs.75 Lakhs with repayment tenure up to 48 months with an interest rate starting at 18% per annum.
- No collateral is required, which means they provide unsecured business loans.
- They follow an easy and quick loan processing system, to meet your requirements as soon as possible.
- Kotak Mahindra facilitates flexible repayment tenure up to 48 months.
|1||Minimum Loan Amount||Rs. 3,00,000|
|2||Maximum Loan Amount||Rs. 75,00,000|
|3||Interest Rate||starts at 18% pa|
|4||Tenure||up to 48 months|
|5||Processing Fee||2% of loan amount+GST|
Eligibility Criteria to acquire Kotak Mahindra Business loan
- Business must be 3 or more than 3 years old.
- Minimum Turnover must be Rs. 40 Lakhs or more.
- Business must be revenue-generating for a minimum past 1 year.
- For Private companies
- Partnership firms
- Sole proprietor
- Limited Liability Partnership
- Involved in trading, manufacturing, or services.
- Minimum age 25 years
- Age the time of maturity not more than 65 years
- Identity Proof (PAN card/Aadhaar card/driving license/voter id/passport)
- Address Proof ( utility bills/rent agreement/Any government verified ID)
- Business ownership proof
- Business continuity proof
- Firm constitution documents
- And other related documents asked at the time of application.
How to apply for Kotak Mahindra Business Loan?
You can apply in two ways i.e., Online and Offline
- Visit Kotak Mahindra website
- Select Business Loans and Click on apply now
- The form will open, fill in the details asked for.
- Submit the documents
- There loan professionals will contact you regarding your loan application.
- They will guide you further with the loan process
- Visit your nearest Kotak branch with all the documents mentioned. There loan professionals present over the branch will help you in the process of applying loan or they will apply loan for you.
Fee and other Charges applied
- The Processing fee is applicable of 2% of the loan amount +GST.
- Documents charges for loan amount less than 10 lakhs Rs.3500+GST and for loan amount more than 10 lakhs Rs. 6000+GST.
- Prepayment charges are also applied i.e., 4% of the remaining loan amount.
- Penalty for late payment of EMI amount 3% per month on the amount due.
How to check loan application Status?
- Visit Kotak Mahindra website
- Click on Track Application
- Click on Loan application status
- Select your loan type and your enter your application ID or number
- Click on submit
- Your application status will appear.
kotak mahindra bank net banking
Steps to apply for Kotak Mahindra net banking.
Kotak Mahindra provides different options to the customer to apply for kotak net banking
Option 1: By requesting for net banking registration via customer care number – 1860 266 2666 (24×7) or +91 22 6600 6022
Option 2: By submitting a physical request form, below are the steps for it.
- Download channel access request form and fill it completly
- Drop the filled channel access form in the drop box which is placed in branch or ATM.
- Search in the google to find kotak maindra bank near me.
Fastag is the mandatory collected by government of India for the vehicles which user long route highways. Kotak Mahindra Bank made this hassle free mode for the paying the toll fees. Kotak has introduced Kotak FASTag wallet auto recharge mechanism for different payment across tolls and parking lots.
Features of Kotak FASTag
- Web Portal is available for the customer[ https://fastag.kotak.com/ ].
- Customer can select convinient method to kotak fastag rechage for online recharge
- Provides Instant message alerts on every toll transcation to update the user balance
- Auto debit features to customer to save time
- Cashless payment method
Kotak Mahindra Contact Details
Call – 1860 266 2666
You can also chat with their representative via their website
Official Website – Kotak Mahindra
1] Are there any fees associated with the repayment of a business loan?
If the loan is foreclosed within a 12-month lock-in time from the date of the agreement, the foreclosure charge is 6%+Tax of the loan amount; otherwise, it is 5% +Tax of the loan amount.
2] How much time will it take to process my loan?
Kotak Mahindra will take 72 hours to process your loan after submitting your application with all the documents.
3] Do I need to provide any collateral to avail business loan with Kotak Mahindra?
No, Kotak’s business loans are collateral-free. No security is necessary.
4] What are the minimum and maximum business loan limits with Kotak Mahindra?
The minimum loan amount is Rs. 3,00,000 and the maximum is Rs. 75,00,000.
5] Is there any benefit if I already have a Kotak Bank current account or savings account?
Yes. When existing bank customers apply for a business loan, they offer them a lower interest rate, faster processing, and doorstep service.
6] Which all Toll Plaza are ready for FASTag
Currently kotak fastag is operational at 773 + toll plazas
7] Kotak Fastag can be used for making parking payments also?
8] kotak 811 minimum balance?