Building your comparison…
Bajaj Finance vs Kotak Mahindra Bank Personal Loan
Side-by-side view of the loans you selected. Best values in each row are highlighted in emerald.
Building your comparison…
| Attribute | ||
|---|---|---|
Loan type | Personal Loan | Personal Loan |
Lender type | NBFC | Bank |
Interest rate | ★ 10.00% – 30.50% | 10.99% – 24.00% |
Rate type | Floating | Floating |
Processing fee | 3.54%, min ₹1,999 | ★ 3%, min ₹999 |
Prepayment penalty | NIL | NIL |
Late payment fee | 2-3% of EMI + applicable taxes | 2% per month on overdue + GST |
EMI per ₹1 lakh (at min rate) | ★ ₹2,125 | ₹2,174 |
Total cost ★ Interest + processing on a standard scenario | ★ ₹3,10,223on ₹10 L / 5y | ₹3,34,246on ₹10 L / 5y |
Max loan amount | ₹35 L | ★ ₹40 L |
Tenure | ★ 1 – 7 years | 1 – 6 years |
Age range | 21–67 yrs | 21–58 yrs |
Min salary / month Salaried | ★ ₹22,000 | ₹25,000 |
Min income / year Self-employed | ★ ₹2,50,000 | ₹3,00,000 |
Min CIBIL score | ★ 685 | 750 |
Employment types | Salaried, Self employed, Professional | Salaried, Self employed |
Disbursal time | Within 24 hours | 1–4 hours for pre-approved 811 / Kotak salary customers |
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