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Apoorv Chaudhary
by on March 23, 2021
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Today the banks and lending companies have started providing the best business loans in the form of various types of secured and unsecured. As per the requirement of borrowers, they are offering various types of secured and unsecured options. The borrowers have many choices to choose from, but one of the most reliable and beneficial options is the Kotak Mahindra Bank Business Loan procedure. With the help of this procedure, the borrowers can easily get a suitable Kotak Mahindra Bank business loan. 

Kotak Mahindra Bank Business Loan Interest Rate 

First of all, you should know that total business loan is the best type of loan that can be obtained by the borrower. Besides the fact that it provides a higher amount of money than any other type of loan, it is also the secured one. In other words, the total borrower has to pledge his or her property as collateral to the lender. But if you are ready to place your property for collateral, then you will get the best deal. 

Loan Amount 

Starting from Rs. 3,00,000/- up to Rs.75,00,000/- 

Tenure 

Starting from minimum of 12 months to maximum of 60 months 

Kotak Mahindra Bank Business Loan Interest Rate 

Starting from 11% up to 18% 

Loan Processing Charges applied  

Up to 2% of the loan amount 

Prepayment 

No pre-payment permitted until repayment of 12 EMIs 

Pre-payment charges 

5% of Principal Outstanding loan amount as per reducing balance method on the date of repayment 

Charges for late payment of EMI 

3% of Overdue Amount, compounded monthly 

 

Benefits of Kotak Mahindra Business Loan  

  • A business loan is starting from Rs. 3 lakhs up to Rs. 75 lakhs.  
  • The Kotak Mahindra Bank loan procedure is simple and easy.  
  • A business loan with no collateral.  
  • A business loan with quick approval and hassle-free processing.  
  • Business loans are offered with flexible repayment options. 
  • Applicants can get doorstep services from here.  
  • The loan package that you will get will be beneficial to your business because of the reasonable interest rate and the long repayment duration.  
  • The repayment duration will also be in your favor as you will be easily able to pay off the loan amount. 

Eligibility criteria of Kotak Mahindra Business Loan  

If you planning to avail of a business loan then, browse Kotak Mahindra business loan with certain points mentioned below:  

  • The applicant shoulbe minimum of 25 years and maximum of 65 years at the time of loan maturity.  
  • The borrower has to be in business for the last 3 years with minimum turnover of Rs. 40 lakhs.  
  • The business must have generated profit for a minimum of 1 year.  
  • The borrower should be a sole proprietor/ partnership firm/ Private Ltd. CompanyTrust/LLP involved in the business of manufacturing, trading, or services.  

Documents required for Kotak Mahindra Business Loan  

  • Once you are getting prepared for the loan application, you should gather all the necessary documents.  
  • You have to provide details about your current income, employment, and financial standing.  
  • You also have to provide some information related to your business and the loan amount. 
  • Besides all these documents, you also have to submit some papers related to your business. 
  • These papers will help the loan officer in understanding the nature of your business.  

How to apply for Kotak Mahindra Business Loan?  

If you want to apply for Kotak Mahindra Business Loan, you can apply for a loan through the online processNow, there are a number of ways in which you can apply for a Kotak Mahindra Bank Loan and get the loan approval easily. Following are the ways to apply for the loan:  

  • One way is to apply through the online method.  
  • In this method, you have to fill an online application form which is quite easy and simple.  
  • All you have to do is just click on some buttons and you will soon be receiving the application email from the loan company.  
  • Once the email is received, you just have to visit the particular site of the lender where you have applied for the loan and sign the loan. 

Conclusion: 

You can also go for the telephonic method. In this method, you will have to give a phone call to one of the authorized people in the Kotak Mahindra company and then the lender will call you back. This is considered to be quite a convenient and fast way to obtain a Kotak Mahindra Bank Loan. The lender will inform you about all the necessary details of the loan. After this, you just have to sign an agreement and you will be able to access the money that you need for your business. For more details contact Kotak Mahindra Customer Care Executive or visit the official site of Kotak Mahindra.   

 
Read More: Fast Cash with the Help of MoneyTap Personal Loan

 

 

Posted in: Finance, Loan
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