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Calculate Your EMIs By Entering the Kotak Mahindra Bank Personal Loan Interest Rate 2020

Author: Shruti Keshre
by Shruti Keshre
Posted: Feb 20, 2020

No worries if you applied for Kotak Mahindra Bank personal loan however still it’s not rocket science but if you think that it’s way too much hard then you’re on the right page. First of all, we would like to congratulate you on your choice that you want to apply for Kotak Mahindra Bank personal loan. But how would you use it, if you haven’t used any EMI calculator by entering the interest rate? The tool is simple by entering some details you can calculate your monthly instalment in no time. If you’re looking to secure a personal loan from Kotak Mahindra Bank then keep reading this article but know more about the Kotak Mahindra Bank personal loan first. In this post we will talk about the Kotak Mahindra Bank personal loan, Kotak Mahindra Bank personal loan EMI calculator 2020, and more. So, let’s start with Kotak Mahindra Bank personal loan.

Interest Rate: Most of the time lender persuade you to take a personal loan by promising the guaranteed lower interest rate but as a vigilant borrower always ensure that whatever personal loan you are getting it is in your range. For example, a lender may showcase that its loan starts from 10.99% and you apply for it and at the time of loan disbursal, you find that this is wrong. This is the reason that you should also check the interest rate of the Kotak Mahindra Bank personal loan because we advocate a fair policy.

Loan Amount: However, some lender offers you a loan amount after seeing your credit profile, documents, net income, and many other eligibility criteria. In this way they offer a personal loan, the same criteria also followed to decide the interest rate like Kotak Mahindra Bank's personal loan interest rate ranges between 10.99% and 20.99% so that a borrower can decide how much he needs. Now, come to the point of the principal loan amount. The Kotak Mahindra Bank offers a loan amount of Rs 20 lakhs that can be used for various purposes like wedding, home renovation, travel. It is important to notice here that generally a bigger loan amount is offered at a lower interest rate. So before applying for a Kotak Mahindra Bank personal loan check the Kotak Mahindra Bank personal loan interest rate for a long-term loan and short-term loan.

Processing Fee: It is also a key factor if you shop around the cheaper personal loan. At the time of applying for a personal, you can compare various lenders to know that which one suits you but if you want to abstain of comparing and selecting then grab a personal loan from kb because they offer lucrative processing fee. That means more savings in less time.

Tenure: Though a lender can decide about the interest rate, processing fee, and in some case the loan amount too when it comes to selecting a loan tenure, you have all the freedom to select as per your need. The repayment tenure can be different from one lender to another. In simple words, the loan tenure window generally starts from 1 year and ends in 5 years. However, you should always borrow from a lender that offers a flexible loan tenure. In case, if you want to get a personal loan from Kotak Mahindra Bank then relax because it offers a loan tenure of up to 5 years.

Now you have the details which are required to calculate EMI with Kotak Mahindra Bank Personal Loan EMI Calculator 2020, so look at the steps which are important to use the EMI calculator.

Understand the Tool: Before using any tool, you must know about the basic things of a tool. The same thing applies when you calculate EMI with Kotak Mahindra Bank Personal Loan EMI Calculator 2020.To understand the tool which has three spaces that can be used to enter details such as loan amount, interest rate, and the tenure.

  • First, enter the loan amount you want to borrow. Based upon your need and the maximum loan sanction limit of the Kotak Mahindra Bank, input the loan amount.

  • Second, navigate to the interest rate column to complete the second step. Based upon on your research and preference, enter the interest rate. If any friend or relative have recently taken a loan from Kotak Mahindra Bank then you can discuss with them and start using the Kotak Mahindra Bank personal loan EMI loan calculator after entering the interests offered.

  • Third, now enter the tenure in months or years to complete the final step. Based upon your income, enter the number of years you wish to borrow a personal loan from Kotak Mahindra Bank.

  • Now, click on the calculate button to see your monthly EMIs, total interest, and total amount including principal loan amount and the total interest rate.

If you don’t get satisfied with the existing result you can continue with your calculation with the different variation.

About the Author

Shruti Keshre is a Digital Marketing Executive at Afinoz Digitalizing Finance.

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Author: Shruti Keshre

Shruti Keshre

Member since: Jul 25, 2019
Published articles: 4

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