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Eligibility calculator

Eligibility calculator

Kotak Personal Loan Calculator

Kotak Personal Loan Calculator is very simple to use. Just open the Kotak Personal Loan EMI calculator and choose the loan's size, term, and interest rate. Due EMI will be shown right away. So, use a Kotak personal loan calculator to determine your payable Kotak personal loan EMI before applying for a loan. Using the Kotak Personal Loan Calculator will help you to determine the best possible loan plan for you.

  • 50 K
  • 1 Cr
  • 1
  • 5
  • 8
  • 25

Monthly Loan EMI

Payment Breakdown:

Principal Amount


Interest Payable

Total Amount Payable

With just a few clicks, you can determine your required loan amount, the interest component, and the monthly EMI using Kotak personal loan calculator. To utilise this calculator, you must enter variable numbers such as the loan amount, anticipated interest rates, and desired tenure.

Read on to understand the Kotak Bank personal loan interest rate, the EMI calculator's use, and its benefits.

Kotak Bank Personal Loan Calculator - Key Features 

Kotak Bank Personal Loan EMI Calculator help you to determine the monthly instalment to be paid on a personal loan. Users must input details such as personal loan amount and tenure to see the EMI amount they will have to pay towards their loan amount. 

This online financial planning tool incorporates the following benefits and features:

  • Easy and quick computation
  • Spend less time and energy
  • reveals an estimated breakdown of the recurring monthly expenses
  • Clear representations of the data are used.
  • A flexible, interactive interface that allows users to alter numbers
  • Users freely have the option to compare loans with different interest rates, loan amounts, and loan terms. 

Why Should You Use Kotak Personal Loan EMI Calculator?

You can anticipate your monthly recurring expenses and choose the best strategy for your financial plans by using the Kotak Mahindra personal loan EMI calculator. From the time the loan tenure starts, you can develop a roadmap of your spending. By setting aside money for emergencies, you can adapt your financial resources. You can avoid the difficulty of performing complicated calculations by utilising the Kotak PL calculator, saving you time and effort. With manual calculations, there is always a chance of making mistakes that might be quite detrimental. This hassle-free online tool can organise spending and achieve all financial objectives.

Kotak Bank Personal Loan EMI Calculator Formula & Example

The formula used by the Kotak Mahindra Bank personal loan EMI calculator is given below:

E = P x r x (1+r) ^n/ ((1+r) ^n-1)


  • ‘E’ represents EMI, 
  • ‘P’ is the principal amount, 
  • ‘r’ is the monthly rate of interest,
  • ‘n’ is the tenure in months.


The formula can be better understood with the help of an example. For instance, Assume that you are requesting Kotak bank for a personal loan of INR 1,00,000 with a 10.99% interest rate and a 2-year term. The following will appear on the Kotak personal loan EMI calculator in that situation.

Using the formula, EMI = 100000 x 0.0091 x (1 + 0.0091)^ 2/ ((1+ 0.0091) ^ 2-1) = 4,660

Your loan's interest rate (R) is determined on a monthly basis using the formula R= Annual rate of interest/12/100. For instance, if R is 10.99% annually, R = 10,99/12/100, which equals 0.0091.

Benefits of using Kotak Bank Personal Loan EMI Calculator

It's wise for customers to know how much they can afford before applying for a personal loan. They will have to evaluate their financial status and agree on how much financial assistance they need. Using internet resources like Kotak Mahindra personal loan calculator makes it simpler to calculate expenses in advance. Using the Kotak Mahindra Bank personal loan EMI calculator has several advantages. Following is a list of some of them.

  • Online EMI calculators are readily accessible. A user only needs to enter information regarding their Kotak personal loan.
  • Individual loan results from the EMI calculator will be computed and shown to the user in real-time.
  • The user will be able to utilise the online tool for as long as they like. The amount of use is not specifically capped.
  • Users can quickly compare several loan rates, quantities, and terms to find the best offer.
  • Saving significant time and effort allows for the most effective production of results.
  • Making more precise financial judgments is possible with the information provided by the Kotak personal loan EMI calculator.

Factors Affecting Kotak Personal Loan EMI

Various factors affect EMIs on personal loans. A few factors affecting Kotak Bank's loan EMI are listed below:

  • Interest Rate 

The interest rate plays the biggest role in determining a borrower's ability and comfort level with loan repayment. It may be challenging to obtain a loan for a larger sum, or the repayment terms may lengthen with a higher interest rate. On the other hand, a lower interest rate enhances the possibility of a straightforward prepayment and makes it simpler to qualify for a larger loan amount. The type of property that will be mortgaged, the borrower's history, and their credit score are all factors that determine the interest rate. Many banks and home financing companies offer interest rates that are frequently adjusted. Whether the rate is fixed or floating, it won't change at any point during the loan period.

Also Check -> Kotak Bank Personal Loan Interest Rate 
  • Principal Amount

The amount that can be borrowed from a bank or other financial institutions against the mortgaged property depends on its value. As a result, the EMIs rise in line with the loan balance.

  • Tenure

The length of the mortgage loan is based on the borrower's current age and retirement age. Longer loan periods are correlated with lower EMIs.

Other factors that affect the Kotak personal loan rate of interest are:

  • Credit Score
  • Repayment Capacity
  • Age
  • Location
  • Nature of Employment
  • Per Month Income
  • Existing Liabilities
  • Employer’s Record

Comparison of Kotak Personal Loan EMI with Other Banks

A comparison has been drawn between the Kotak Bank personal loan rate of interest and other bank’s rate of interest. This comparison has been listed in the table below:

Name of the Bank Rate of Interest  EMI on Loan of INR 1 Lakh EMI on Loan of INR 5 Lakh EMI on Loan of INR 10 Lakh
Kotak Bank 10.99% INR 8,838 INR 44,188 INR 88,377
HDFC Bank 11.00% INR 8,838 INR 44,191 INR 88,382
Standard Chartered Bank 11.50% INR 8,862 INR 44,308 INR 88,615
IIFL 11.75% INR 8,873 INR 44,366 INR 88,732
Fullerton India 11.99% INR 8,884 INR 44,422 INR 88,844

Kotak Bank Personal Loan Amortisation Schedule

The principal and interest amounts that you will pay as part of your monthly instalment payments are broken out in the amortisation schedule. In other words, with each EMI, the principal balance and the interest rate fluctuate, with the principal balance reducing and the interest rate rising. Because of this, if you decide to pay off your loan early, you will only have made a little principal payment.

Amortisation Schedule for a Personal Loan of INR 4.5 Lakh over two years

Suppose, you take a loan for INR 4.5 lakhs for two years on August 2022. The Kotak personal loan rate of interest is 10.99%. Using the Kotak personal loan EMI calculator, the EMI is calculated to be INR 20,971, and the total EMI amounts to INR 2,51,657 annually. The amortisation schedule for this personal loan will look something like the following table:

Year Interest Paid During The Year (in INR) Principal Repaid During The Year  (in INR) Total Amount Paid During The Year (Interest + Principal) (in INR) Outstanding Principal  (in INR)
2022 15,553 68,332 83,886 3,81,668
2023 31,053 2,20,605 2,51,657 1,61,063
2024 6,708 1,61,063 1,67,772 0

Kotak Bank Personal Loan EMI for INR 10 Lakh

The following table displays the EMI for a personal loan of INR 10 lakh. The values have been calculated using the Kotak Bank personal loan EMI calculator.

Loan Amount (in INR) Interest Rate Tenure (in Years) EMI (in INR)
10,00,000 10.99% 1 88,377
10,00,000 10.99% 2 46,603
10,00,000 10.99% 3 32,734
10,00,000 10.99% 4 25,841
10,00,000 10.99% 5 21,737

Frequently Asked Questions (FAQs)

What is the EMI of a 1 lakh loan in Kotak bank?

Taking the Kotak bank personal loan rate of interest to be 10.99%, the EMIs will be INR 8,834, INR 4,660, INR 3,273, INR 2,584, and INR 2,174 for five years.

How much loan can I get on my salary of 15000 from Kotak bank?

The amount of loan that you can undertake on your salary of INR 15,000 depends upon the debts you are currently in.

How can I check my loan eligibility in Kotak Bank?

You can check your eligibility for a personal loan on the official website of Kotak Bank. The personal loan eligibility calculator will consider your monthly income and current EMIs, and the result will be the amount of loan you can avail yourself of from the bank.

How much loan can I get from Kotak Bank?

You can avail of a personal loan of up to INR 25 lakhs from Kotak Bank.

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