Low Cibil Stress Free Loan – Everyone will get loan in 30 minutes, Kotak Bank loan of Rs 40 lakh will change your life, apply like this

By Marksheet10

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Low Cibil Stress Free Loan – Kotak Mahindra Bank Limited is an Indian banking and financial services company, it provides the benefit of online banking and financial services to its customers for their convenience. Along with this, the bank also provides different types of personal loans to the customers for their urgent financial needs.

The bank is providing one of these loans to the customers in the name of Low Cibil Stress Free Loan, under which even customers with low CIBIL score will be able to easily get the loan. Kotak Bank offers Low CIBIL Score Stress Free Loan to its customers up to a maximum of Rs 40 lakh without much documentation or security.

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In such a situation, if you are also a customer of the bank and want to take Kotak Bank Low CIBIL Stress Free Loan, then how will you be able to apply for the loan? What is Low Civil Stress Free Loan? You will be able to know complete information related to loan interest rate, eligibility, necessary documents etc. through our article.

Low CIBIL Stress Free Loan

As a person’s income, occupation, age, appointment/company profile and his credit score play an important role for getting a loan from any bank. Credit score reflects a person’s ability to take a loan and whether he will be able to repay the loan in future.

The CIBIL score of many people gets deteriorated due to not paying the old loan on time or excessive use of credit card, due to which they may face problem in getting the loan. However, now you do not need to worry about loan, Kotak Mahindra Bank is now providing personal loan facility to the customers even with low CIBIL score.

Through the Bank’s Low Cibil Stress Free Loan facility, customers can now easily get a loan up to Rs 5 lakh from the Bank in just 30 minutes. Apart from this, Kotak Bank offers loans up to a maximum of Rs 40 lakh for the financial needs of customers. The bank’s personal loan interest rates start from 10.99% per annum. Under which the bank offers this loan to the customers with flexible payment tenure and quick disbursement facility.

Features of Low Cibil Stress Free Loan

  • Kotak Bank is also providing the facility of Low Cibil Stress Free Loan to customers with low CIBIL score.
  • This loan is provided without any collateral i.e. without pledging any security or property.
  • Loan interest rates start from 10.99% per annum.
  • A maximum loan amount of up to Rs 40 lakh can be obtained under the personal loan of the bank.
  • Loans up to Rs 5 lakh are approved within 30 minutes.
  • Kotak Bank offers flexible repayment tenure of 1 to 6 years to the bank customers for personal loan repayment.
  • Pre-approved loans for existing Kotak customers are disbursed within a minute.
  • Customers can easily apply for loans through digital KYC and video verification.

Kotak Bank Low CIBIL Stress Free Loan Eligibility

For Low CIBIL Stress Free Loan, the applicant will have to fulfill its prescribed eligibility, only after fulfilling which you will be able to get the loan, information about all such eligibility is given below.

  • People working in any MNC, public limited company or private limited company can apply for this loan.
  • The minimum age of the applicant should not be more than 21 years and maximum age should not be more than 60 years.
  • For loan from the bank, the educational qualification of the applicant must be graduate.
  • The applicant must have at least one year of work experience.
  • Talking about the monthly income of the applicant for Kotak Bank Low CIBIL Loan, the minimum net monthly income of the account holder of the bank is Rs 25 thousand. The income of non-Kotak Bank account holder should be Rs 30 thousand and if the applicant is an employee of Kotak Bank then his income should be Rs 20 thousand.

Documents Required

For personal loan from the bank, the applicant will need some important documents. The information about all such documents through which they will be able to apply for loan is as follows.

  • Valid Identity Proof: PAN Card, Passport, Aadhar Card, Voter ID, DL
  • Residence Proof: Aadhar Card, Passport, DL, Ration Card
  • Income Proof: Three months’ bank statements, last three years’ salary slips (for salaried employees)
  • 2-3 passport size photographs

Kotak Bank Personal Loan Application Process

Applicants can know about the application process by reading the steps mentioned here to apply for Kotak Bank Personal Loan.

  • For this, first of all you visit the official website of Kotak Bank.
  • Now on the home page of the website you will get the option of Apply for Personal Loan, click on it.
  • After this, in the next page, if you are a Kotak Bank customer then click on Yes and if not then click on No.
  • Now the loan application form will open on your screen.
  • Here you will have to fill all the information asked in the form and do verification through OTP.
  • After this, loan offers will appear on your screen based on your eligibility.
  • Here you have to select the loan amount as per your requirement and complete the KYC process by following the given instructions.
  • After KYC is done, the loan amount will be transferred to your bank account within 30 minutes.

Low Cibil Stress Free Loan Fees and Charges

Following is the information about the fees and charges applicable on Kotak Bank Low CIBIL Stress Free Loan.

Rate of interestStarting from 10.99% per annum
Processing Fee (Overdue)Up to 3% of loan amount plus applicable taxes
Stamp duty feeAs per the Stamp Acts of the respective State
Overdue EMI interest3% per month on overdue installment amount
EMI dishonor/ bounce chargesRs 500 plus taxes per example
swap feeRs 500 + applicable taxes per instance
lock-in periodThere is no loan-in period for Kotak Personal Loan after payment of the first EMI
foreclosure chargesUp to 3 years – 4% + GST on outstanding principal
After 3 years – 2% + GST on outstanding principal amount
Pre-payment chargesRs 500 + tax
Physical SOA or Amortization ScheduleOnce a year no fee
Per request- Rs 200 plus post tax

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Hello Friend, My Name is Raju Kumar. I have been blogging for last 2 years. I like to write latest job news, government schemes etc.

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