Kotak Mahindra Bank Business Loan

Kotak Mahindra Bank offers business loans to help entrepreneurs and businesses meet their financial requirements. These loans can be used for various purposes such as working capital, expansion, purchasing equipment, or any other business-related needs.

Kotak Business Loans ranging from Rs.3 Lakhs – Rs.1 Crore with flexible repayment methods, making it a suitable option for established business professionals or budding entrepreneurs in need of additional capital.

Kotak Mahindra Bank Business Loan Highlights

Kotak Mahindra Bank business loans provide financial support for businesses with flexible repayment options, making them suitable for various business needs. Here are the highlights of Kotak Mahindra Bank Business Loan:

Kotak Mahindra Bank Business Loan Interest Rates

Kotak Mahindra Bank offers competitive interest rates on its business loans, providing attractive borrowing options for businesses. The bank's business loan interest rates are designed to cater to the diverse financial needs of both established businesses and budding entrepreneurs.

Here is the overview of interest rates and charges for Kotak Business Loans:

Kotak Mahindra Business Loan Fees & Charges

Kotak Mahindra Bank imposes various fees and charges in addition to the interest rates for its business loans. Understanding these additional costs is essential for businesses seeking financial assistance, as they can significantly impact the overall cost of borrowing. Here is a detailed breakdown of the fees and charges applicable for Kotak Business Loans:

Kotak Business Loan Common Fees

Kotak Business Loan Prepayment/ Foreclosure Charges

Term Loan Specific Charges

Overdraft Facility Specific Charges

Kotak Mahindra Bank Business Loans Eligibility Criteria

Kotak Mahindra Bank's business loan eligibility criteria outline the requirements for potential borrowers, ensuring that businesses meet specific qualifications for loan approval. Here are the business loan eligibility criteria provided by Kotak Mahindra Bank:

• The applicant must have a minimum of 3 years in business with a turnover of at least Rs. 40 Lakhs.
• The business should have generated profit for at least 1 year.
• The applicant should belong to one of the following categories: Sole Proprietorship, Partnership firm, Private Limited Company, Trust, or LLP, engaged in Manufacturing, Trading, or Services.
• The main applicant should be at least 25 years old and not older than 65 years at the time of loan maturity.

Documents Required for Kotak Mahindra Bank Business Loans

The mandatory documents outlined by Kotak Mahindra Bank are essential for businesses seeking a loan, as they serve as verification of identity, address, ownership, business continuity, and firm constitution. Here are the list of documents required for Kotak business loan:

• Identity proof: PAN Card, Driving License, Passport, Voter's ID, or Aadhaar Card
• Address Proof: Passport, Driving License, Voter's ID, Aadhaar Card, Utility Bill, Bank Statement, or Bank Account Passbook (Updated and no more than 3 months old)
• Ownership proof: Agreement Copy, Electricity Bill, Maintenance Bill with share certificate, Municipal tax bill, or Share certificate
• Business continuity proof: Shop and Establishment certificate, Tax registrations such as VAT, Service tax, or GST registrations
• Firm Constitution: MOA, Partner Ship Deed, or GST Registration Certificate

Types of Business Loans Offered By Kotak Mahindra Bank

Kotak Mahindra Bank offers a variety of business loans to cater to the diverse financial needs of different businesses. These loans are designed to provide support for working capital, expansion, equipment purchase, and other business-related requirements, making them suitable for a wide range of enterprises.

Features & Benefits of Kotak Mahindra Bank Business Loan

Kotak Mahindra Bank loan options come with a range of features and benefits designed to meet the diverse financial needs of businesses. Here are the features and benefits of Kotak Mahindra Bank Business Loan:

Business Loan Up to
₹1 Crore

Avail business loans ranging
₹3 lakhs to ₹1 crore for small,
medium and large businesses

Flexible
Repayment

Choose your preferred
repayment tenure upto
60 months.

Flexibility

Utilise the loan amount for
a variety of business needs.

Quick Approval

Get quick approval within
72 hours on business loans.

No Collateral

Get unsecured business
loan with Kotak Mahindra
Bank

Doorstep Services

Enjoy doorstep services
for your business loans with
Kotak Mahindra Bank

Kotak Mahindra Bank Business Loan Vs Other Lenders

Kotak Mahindra Bank business loan offerings stand out compared to those of other lenders due to their competitive interest rates, flexible repayment options, and customised solutions for various business needs. Here is a table showing the comparison of Kotak Mahindra Bank Business Loan with other major lenders:

How to Apply for a Kotak Mahindra Bank Business Loan

To apply for a business loan from Kotak Mahindra Bank, you can follow these steps:

1. Visit the official website of Kotak Mahindra Bank and navigate to the business loans section.
2. Fill out the online application form with the required details such as personal information, business details, loan amount, and purpose.
3. Submit the necessary documents, including identity proof, address proof, ownership proof, business continuity proof, and firm constitution.
4. Once the application is submitted, a bank representative will get in touch with you to further process the loan application and discuss the next steps.

Steps to Apply for Business Loan on Buddy Loan

Buddy Loan stands as a prominent loan service provider in India, helping you secure personal and business loans from verified lenders. Follow the steps below for a hassle-free loan application process:

• Step 1: Visit buddyloan.com or Download & install the Buddy Loan app (Android or iOS).
• Step 2: Open the business loan application page. Enter your mobile number and OTP.
• Step 3: Specify the desired loan amount and email. Next, choose the Business Loan option.
• Step 4: Choose if you have a Business Proof (Yes/ No)
• If ‘Yes’ (If you have a business proof), enter your business and personal details.
  Or
• If ‘No’ (If you do not have a business proof), choose the profession type and enter your personal details.
• Step 5: Provide income details and Click the ‘Submit’ button.

Kotak Mahindra Bank Business Loan Customer Care Number

There are several ways to reach Kotak Mahindra Bank's Business Loan customer care, depending on your preference:

Toll-free number: 18602662666: This is the main customer care number for business loans, operating from 9:00 AM to 6:00 PM, Monday to Saturday, excluding holidays. Local call rates apply.

Website chat: Kotak's website offers a chat option to connect with a customer care representative. You can find it on the Business Loan page.

SMS: Send "KPRIVY" to 5676788 to request a callback within 30 minutes from a dedicated representative for Privy League customers. This service is available 24/7, but standard SMS charges apply.

International customer care: If you're calling from outside India, use +91 22 6204 2001 (chargeable) or consult the country-specific toll-free numbers listed on Kotak's website: https://www.kotak.com/en/customer-service/contact-us/email-us.html