A wedding is a celebration of love, unity and new beginnings - but managing expenses can be challenging. A Kotak811 Personal Loan for marriage, starting at an interest rate of 10.99% p.a., offers quick financial support, ensuring your dream wedding goes as planned. From venue bookings to attire, get the funds you need without stress, so that you can focus on making beautiful memories with loved ones.
Features of a Kotak811 Personal Loan for Marriage
- No collateral required: Kotak811 offers a Personal Loan for marriage without asking for any collateral or security. This means you can access funds up to Rs.35 lakhs without pledging your property, gold or other valuable assets. For couples planning their wedding, this feature provides financial freedom and flexibility, allowing them to arrange a grand celebration without any added stress.
- Flexible repayment options: Planning a wedding is hectic enough and Kotak811 ensures you will not have to worry about rigid repayment schedules. You can choose a repayment period of up to 6 years, giving you the option to repay the loan in smaller, more manageable EMIs. This flexibility allows you to balance your post-wedding expenses with ease and avoid financial strain.
- Simple and fast application process: Getting a Kotak811 Personal Loan for marriage is a smooth and hassle-free experience. The process is quick, requires minimal documentation and is completely digital for existing customers. This means you can apply from the comfort of your home and get fast approval. With quick access to funds, you can handle your wedding expenses without any unnecessary delays or long waits for approval.
How to Get a Kotak811 Personal Loan for Marriage Online?
If you have a Kotak811 account, you can easily check your pre-approved offer and apply for a Personal Loan through the Kotak811 App. It’s a simple and hassle-free process that can be done in just a few steps. Here’s how you can do it:
- Download the Kotak811 App: Install the app from the Google Play Store & App Store
- Go to the 'Loans' Section: Open the app and head to the 'Loans' tab to explore loan options.
- Start Your Loan Application: Choose the loan amount you need and select a repayment tenure that suits you.
- Verify and Approve: Check the loan details, review the terms, and provide your confirmation.
- Receive Your Funds: Once approved, the loan amount will be instantly transferred to your Kotak811 account.
Documents required for offline application
In case you don’t have a pre-approved offer but wish to avail a Personal Loan for marriage, you’ll need to visit the nearest Kotak Bank branch. Along with your application, you’ll be required to submit the following documents to ensure a smooth approval process:
- Proof of identity: Submit a PAN card, Aadhaar card, or Passport as valid identification.
- Proof of address: Provide utility bills, Aadhaar card, or Passport as address proof.
- Proof of income: Salaried individuals must submit their latest salary slips, while self-employed applicants need to provide bank statements.
- Photographs: 2-3 recent passport-sized photographs are required.
Eligibility criteria - Personal Loan for Marriage
Ensure you meet the following criteria to fast-track your personal loan for marriage application:
- The applicant’s age should be between 21 to 60 years.
- Only salaried employees working with MNCs, public limited, or private limited companies are eligible.
- The minimum monthly salary required is:
- Rs.30,000 for those without a Kotak811 account
- Rs.25,000 for Kotak Salary account holders
- Rs.20,000 for Kotak811 employees
- Applicants must have at least a graduate-level educational qualification.
- A minimum of one year work experience is mandatory.
Interest Rates, Fees and Charges - Personal Loan for Marriage
Choosing the right Personal Loan for marriage boils down to finding the right offer. Kotak811 shines here, offering competitive rates that make your loan repayments manageable. Here’s what you need to know:
- The interest rate starts at 10.99% per annum, ensuring affordable EMIs.
- A processing fee of up to 5% of the loan amount is charged, along with applicable taxes.
- Prepayment charges are 2% of the outstanding principal amount, plus GST.
- A repayment mode swap fee of Rs.500, plus taxes are applicable for each change.
Conclusion
Book your dream venue, photographer, caterer, and decorator and cover other wedding expenses seamlessly with the Kotak811 Personal Loan for marriage. It can cover all kinds of costs associated with the wedding, so you don’t have to compromise on your dream day. Use the Personal Loan EMI Calculator to plan and manage repayments with ease. Celebrate your big day, stress-free with Kotak811 by your side.
FAQs
1. Can both salaried and self-employed individuals get a Personal Loan for marriage with Kotak811?
Yes, Kotak811 offers Personal Loan for marriage to both salaried and self-employed individuals, provided they have a stable source of income and meet the eligibility criteria.
2. What is the typical interest rate for a Personal Loan for marriage from Kotak811?
The interest rates for Personal Loan for marriage at Kotak811 start at 10.99% p.a., varying based on the applicant's creditworthiness and other factors.
3. How quickly can I receive the loan amount for my wedding?
Post approval, Kotak811 strives to disburse Personal Loan for marriage within a few working days, ensuring funds are available for your wedding preparations.
4. Are there any pre-payment charges applicable for Personal Loans for marriage?
Kotak811 may levy nominal charges for pre-paying your Personal Loan for marriage, dependent on the terms of your loan agreement.
5. What documents do I need to get a Personal Loan for marriage if I haven’t been pre-approved?
Applicants must submit proof of identity, proof of address, and proof of income, such as salary slips or bank statements.
*Terms & Conditions apply.
Credit at the sole discretion of Kotak Mahindra Bank Ltd. and subject to guidelines issued by RBI from time to time. Bank may engage the services of marketing agents for the purpose of sourcing loan assets. Personal Loan will not be disbursed if the Savings Account is in dormant or freeze state.
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