Kotak Mahindra Business Loan – Eligibility, Charges, And How to Apply

Kotak Mahindra Business Loan

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Kotak Mahindra Bank is an Indian banking and financial services company. It offers banking products and financial services for corporate and retail customers. It is India’s third largest private sector bank by market capitalisation after HDFC Bank and ICICI Bank.

Kotak Mahindra Bank Business Loan

Kotak Mahindra Bank offers business loans to individuals to meet newer milestone of success everyday. Kotak Mahindra offers a range of collateral-free customized business loan solutions best suited for everyone’s business requirements. To avail a business loan from Kotak Mahindra Bank, one has to be in business for last 3 years, applicant should be a Sole Proprietor, Partnership firm, Private Ltd Co, Trust, LLP involved in the business of manufacturing, trading and services. The applicant should be minimum 25 years of age and should be not older than 65 years at the time of loan maturity.

Kotak Mahindra offers unsecured business loans to fulfil the basic business needs of the applicants. Many people have the dream of starting their own business or to expand their business. A business loan by Kotak Mahindra is a great option which offers business loans to cater all your financial requirements for your business.

Also Read: Union Bank Business Loan

Features of Business Loans at Kotak Mahindra Bank

• Flexible repayment options
• Quick approval and hassle-free application process
• The highest loan amount that one can avail is 75 lakh rupees
• Simple documentation is required
• Duration is more than 3 years

Why to Apply for Business Loan from Kotak Mahindra Bank

• The customers can pay off the loan amount in easy instalments every month
• The interest remains same throughout the duration
• Processing is faster
• One can check their monthly EMI and business loan eligibility at Kotak Mahindra Bank EMI Calculator through online

Types of Kotak Mahindra Business Loan

There are various types of Business loans offered by Kotak Mahindra Bank to its customers so that they can meet the basic requirements of business. Some of the business loans are as discussed below:

1. Kotak Mahindra Construction Equipment Loans

Kotak Mahindra Construction equipment loans are offered for purchase of a variety of products such as concrete equipment, earth moving equipment, material handling equipment, road building equipment etc.

2. Kotak Mahindra Farm Equipment Loans

Kotak Mahindra Farm Equipment Loans are offered for purchase of new/old tractors, loaders, trailers, sprayers, harvesters and implements for commercial and agricultural purposes.

3. Kotak Mahindra Infrastructure Finance Loan

Kotak Mahindra Infrastructure Finance loan is offered to individuals, private limited companies, partnership firms and limited companies engaged in infrastructure, construction and material handling equipment business. Cash credit, Overdraft facilities are also available in this scheme.

4. Kotak Mahindra Healthcare Finance Solutions

Kotak Mahindra Healthcare loans are offered to hospitals, diagnostics centres, laboratories, clinics, nursing homes, self-employed doctors to meet their business requirements.

5. Kotak Mahindra Commercial Vehicle Loans

Kotak Mahindra Bank offers commercial vehicle loans to finance vehicles for business purposes.

Interest Rate, Loan Amount, and Other Charges

Eligibility Criteria

• Self-employed individuals
• Partnership firms involved in the business of Manufacturing, Trading, or Services
• Proprietors
• Pvt Ltd Co.
• Individuals with business registration
• Individuals who have been in the current business for a minimum of 3 years
• The applicant should be at least 21 years at the time of applying for the loan and should not be older than 65 years at the time of loan maturity

Documents Required

• Id proof
• Address proof
• Business proof
• Audit report
• Passport sized photographs
• Dully filled application form
• Bank statement for the last 6 months
• Proof of continuation
• Income Tax Returns for the last 2 years
• He/she should meet the requirement for company credit score and should not be under too many debts
• Other mandatory documents if required

Kotak Mahindra Bank Business Loan EMI Calculator

Business loan eligibility may differ from one person to another. To check your business loan eligibility you can use Kotak Mahindra Business Loan EMI Calculator at free of cost. EMI Calculator helps you to calculate your monthly EMI that you will have to pay towards your loan amount. It eases the calculations and saves time. To use this calculator is very simple, you only need to enter the basic details such as loan amount, tenure etc., and you will get the result instantly.

FAQs

1. What is a business loan?

Ans: Business Loan is a loan which can be availed by any person who wants to start their own business or any individual who wants to expand their business.

2. What is the minimum loan amount one can avail from Kotak Mahindra Bank?

Ans: One can avail minimum loan amount of Rs 75 lakh.

3. How long does it take to disburse Kotak Mahindra Business loan?

Ans: It may take 1 day for disbursement of your loan amount at your account.

4. What is the maximum tenure of Kotak Mahindra Bank business loan?

Ans: The maximum tenure for the loan repayment period is up to 7 years.

5. Who is eligible for business loan?

Ans: The following peoples are eligible for business loan:

• Self-employed individuals
• Partnership firms involved in the business of Manufacturing, Trading, or Services
• Proprietors
• Pvt Ltd Co.
• Individuals with business registration
• Individuals who have been in the current business for a minimum of 3 years
• The applicant should be at least 21 years at the time of applying for the loan and should not be older than 65 years at the time of loan maturity

Dev Kirtonia

Hi, I’m Dev Kirtonia, Founder & CEO of Dev Library. A website that provides all SCERT, NCERT 3 to 12, and BA, B.com, B.Sc, and Computer Science with Post Graduate Notes & Suggestions, Novel, eBooks, Biography, Quotes, Study Materials, and more.