Apply For Low Personal Loan Interest Rates Online | Kotak Mahindra Bank


Frequently Asked Questions

What is Kotak’s personal loan interest rate?

Kotak offers personal loans at a reasonable interest rate starting from 10.99% p.a. However, the rate may vary depending upon a customer’s profile, income, previous credit record, among other factors.

Can outstanding credit on previous borrowings or cards influence my personal loan interest rate?

Yes, it most certainly will. If you have a track record of not paying your credit card dues on time or have pending installments for previous debt, you are less likely to be approved. 

Even if you are approved, you are less likely to get a low rate of interest.

Can my credit score influence my interest rate? How?

Yes, a CIBIL score or a credit score is among the first factors loan providers check because it reflects your creditworthiness. People with a low score can still get a personal loan. 

However, the personal loan interest rate would not be low, or there may be some hidden charges. 

What to do if your credit score is bad? Can I still get low-interest personal loans?

Yes, it is possible to secure the lowest personal loan interest rate with a poor credit rating. The easiest way of doing so is offering collateral, which might help your loan provider trust you.


Another way is to get a co-applicant with better creditworthiness. Many applicants end up falling into the trap of ‘Personal loans for low CIBIL score applicants’. These loans may promise low rates but have various hidden charges and payment fees that end up making the loan pricey and a lot more than bargained for.

Can I get a lower interest rate than what has been publicly declared by the bank?

Certainly! It is a possible outcome for those loan seekers with a high CIBIL score and a positive rapport with the lender.