Kotak Mahindra Bank Business Loan
Kotak Mahindra Bank Business Loan offers necessary funds to grow your business or set up a new one. You can avail Kotak Mahindra Bank Business Loan to meet any kind of business needs without hampering your personal investments or finances. With the help of business loan in Kotak Mahindra Bank, you can easily purchase inventory, increase the working capital, renovate the office and what not. Kotak Mahindra Bank Business Loan offers tailor-made products which are customized according to your needs. When you go for Kotak Mahindra Bank Business Loan apply, you need not have to pledge any collateral to secure the loan. Kotak Mahindra Bank Unsecured Business Loan offers quick loan approval and disbursement. You need to provide very minimum documentation and can easily repay Kotak Mahindra Bank Business Loan with EMI facility. Based on Kotak Mahindra Bank Business Loan eligibility, you will be charged Kotak Mahindra Bank Business Loan interest rate which is quite competitive. With Kotak Mahindra Bank SME Loan, your small and medium enterprises are benefited with the essential fund.
Why would you opt for Kotak Mahindra Bank Business Loan?
Kotak Mahindra Bank Business Loan offers loan starting from Rs. 3 lakhs to Rs. 2 crores up to a flexible tenure up to 5 years. You can easily go for Kotak Mahindra Bank Business Loan application form fill up to meet your immediate cash requirements. To obtain Kotak Mahindra Bank Business Loan interest rate at a lower range, you need to have a good repaying capacity with a minimum CIBIL score of 750 or more. When you opt for Kotak Mahindra Bank Business Loan apply online, you enjoy collateral free EMI based loan with needs very simple paperwork. Business Loan in Kotak Mahindra Bank offers hassle-free loan experience with a flexible loan tenure up to 5 years. Not only big business giants, but small and medium-sized business are benefitted with Kotak Mahindra Bank SME Loan which is a customized product. Following are the important reasons as to why should you opt for Kotak Mahindra Bank Business Loan-
- You do not have to mortgage any property papers or any valuable items to secure Kotak Mahindra Bank Business Loan.
- For Kotak Mahindra Bank Business Loan apply online, you need to go for Kotak Mahindra Bank Business Loan application form fill up with minimum documentation.
- Kotak Mahindra Bank Business Loan offers up to Rs. 2 crores which you need to repay within a tenure of 1 year to 5 years.
- Based on your loan repaying ability and credit history, Kotak Mahindra Bank Business Loan interest rate is charged which is quite attractive.
- Business Loan in Kotak Mahindra Bank offers easy EMI option and hassle-free loan approval.
- Kotak Mahindra Bank Business Loan documents required are very simple and minimal.
- With the help of Kotak Mahindra Bank SME Loan, instant cash is provided to small and medium-sized enterprises.
- Very low processing fees is charged for Kotak Mahindra Bank Business Loan. No hidden charges are involved in this case.
Types of Kotak Mahindra Bank Business Loan
Kotak Mahindra Bank Business Loan offers customized loan product to suit different business needs. Following are the different variants Kotak Mahindra Bank Business Loan-
Loan Against Property
You can avail loan against property with flexible eligibility criteria up to a loan amount of Rs. 5 crores. You can mortgage industrial, residential or commercial property and can enjoy overdraft facility with EMI based repayment.
Crop Loan
Under this variant of Kotak Mahindra Bank Business Loan, farmers can use the loan amount to meet the need of inputs purchase, farm mechanization, cost of cultivation, etc. Farmers can avail crop loan at an attractive interest rate and with a flexibility to choose between term loans and cash credit. In order to facilitate the borrowers, the Crop Loan offers two different types- Kisan Credit Card and Agri Term Loan.
Commercial Vehicle Loan
Kotak Mahindra Bank offers commercial vehicle loan at a competitive interest rate with a flexible loan tenure up to 60 months. Commercial Vehicle Loan offers a wide range of products like- Working Capital Finance, New Vehicle Finance, Top-up Existing Loans, Finance on Used Vehicles and much more.
Construction Equipment/Infrastructure Finance
Kotak Mahindra Bank offers customized finance solutions to suit business needs. You can avail Construction Equipment Finance like Material Handling equipment, Road Building equipment, Earth Moving equipment and Concrete equipment to meet your needs. You can also obtain top up existing loans, new construction equipment, refinance on construction equipment, used construction equipment and also the takeover of existing loans with quicker turnaround time.
Farm Equipment
With farm equipment loan, you can use to buy new and old tractors, sprayers, seed cum fertilizer drill, combined harvester, etc. You are benefitted with lucrative interest rate and loan amount up to 90% of the tractor value.
Agri Project
With Agri Project loan under Kotak Mahindra Bank Business Loan, you can use the funds for the cultivation of medicinal plants, floriculture, mushroom cultivation, vermiculture, etc. You can also use the loan amount for land development, minor irrigation, farm mechanization etc.
Kotak Mahindra Bank Business Loan Eligibility Criteria
To avail Kotak Mahindra Bank Business Loan interest rate at an attractive range, you need to fulfill Kotak Mahindra Bank Business Loan eligibility criteria.
| Age | 21-65 years |
| Annual Turnover | Rs. 50 lakhs for service providers Rs. 1 crore for manufacturers Rs. 2 crores for self-employed business professional |
| Business Eligibility | Self-employed Non-Professionals- Partnership firms, Public & Private ltd. companies, Sole proprietors etc. Self-employed Professionals- CA, Architect, Doctor, etc. |
| Business Profit | For the last 2 years |
| Business Continuity | Self-employed non-professionals- 3 years in the present business with a total experience of 5 years Self-employed professionals- 3 years |
| CIBIL score | 750 or more |
| Loan Amount | Up to Rs. 2 crores |
| Loan Tenure | 3 years for self-employed non-professionals 5 years for self-employed professionals |
Kotak Mahindra Bank Business Loan Document Requirements
- Application form
- ID proof- PAN card, AADHAAR card, Passport
- Passport Photograph
- Updated Bank a/c Statement of the last 6 months
- PAN card for Individual/Firm/Company
- Continuity of Business proof- Trade License/Sales Tax Certificate/ITR/Establishment
- Essential papers- Partnership Deed/Memorandum and Articles of Association.
- Proof of Address- Driving License, AADHAAR card, Passport, Voter ID card.
- ITR copy and Balance Sheet of the last 2 years which is audited
Kotak Mahindra Bank Business Loan Interest Rate & Charges
| Rate of Interest | 16%* onwards |
| Prepayment Charges | 5% on the foreclosure loan amount 6% (if prepayment is within 12 months lock in period from the agreement date) |
| Processing Charge | Up to 3% of the loan amount+tax |
| Cheque Dishonor Charges | Rs. 750 per instance+tax |
| Documentation Charges | Rs. 10000 per instance+GST |
| Duplicate NOC & No Dues Certificate Charges | Rs. 500 per instance+tax |
| Amortization Schedule & Account StatementCharges | Rs. 250 per instance+GST (free once in a financial year) |
| Account Swap Charges & Repayment Mode | Rs. 500 per instance+tax |
*interest rate value varies from time to time
Other Bank’s and NBFC’s
- ICICI Bank Business Loan
- HDFC Bank Business Loan
- Kotak Mahindra Bank Business Loan
- Yes Bank Business Loan
- Axis Bank Business Loan
- IndusInd Bank Business Loan
- IDFC First Bank Business Loan
- Tata Capital Business Loan
- Indiabulls Business Loan
- Fullerton India Business Loan
- Edelweiss Business Loan
- Capital First Business Loan
- Bajaj Finserv Business Loan
