CreditMantri Finserve Private Limited
Door No.3, Block B, No. 147, 2nd Floor, Workeasy Space Solutions, RK Swamy Centre, Hansa Building, Pathari Road,Thousand Lights, Chennai, Tamil Nadu600006
Have any queries? Click here for more details
All written queries will be responded within 1 working day.
We'd love to help you through every step along the way.
Is your Credit Score >750?
Get answers to commonly asked questions related to credit bureaus
The minimum CIBIL™ score required by the bank for personal loans is 750. A credit score lower than 750 may also lead to the personal loan application being accepted by the bank provided it meets the other relevant criteria for personal loans.
The other eligibility parameters for a personal loan of Kotak Mahindra Bank are,
The bank requires the applicants to be residents of India and active employees of any of the following entities,
Apart from this, the applicant has to be an active resident of the city for the past 1 year.
Minimum educational qualification
The minimum educational qualification for personal loans is being a graduate.
The bank requires that the applicant have a minimum age of 21 years and a maximum age of 58 years to be eligible for personal loans.
Minimum Net Monthly Income
The net monthly income of the applicant has to be Rs. 20,000 to be considered for a personal loan from the bank.
The bank requires the applicants to have a minimum work experience of 1 year.
The bank requires the applicants for a personal loan to have a good credit score. A credit score of a person is the assessment of the creditworthiness of a person. The creditworthiness is used to determine the credit limit of the applicant as well as the repayment capacity of the person. There are four credit agencies in India. These credit-rating agencies provide the credit score for individuals and businesses. These agencies are,
Kotak Mahindra Bank prefers to refer to the credit score issued by CIBIL™ while considering personal loan applications. CIBIL™ score is a three-digit credit ranging from 300 to 900. The bank considers a credit score closer to 300 to be poor for a personal loan while a credit score closer to 900 is considered to be good or favourable by lenders. The personal loan application in such cases is easily approved.
The bank may also provide pre-approved personal loans to applicants that already meet the criteria set by the bank or have a credit score more than the minimum requirement set by the bank.
A personal loan is one of the easiest and quickest loans available for borrowers in the lending market. These are considered to be quick loans and can be availed easily by eligible applicants by meeting the eligibility parameters set by the bank.
The personal loan can be availed for multiple reasons like a wedding in the family, repairs or renovation to the house, travel expenses, education expenses of the borrower or any other member of the family, etc.
Kotak Mahindra Bank is a very popular name in the banking world today and is considered to be among the top five banks in India. The personal loans issued by Kotak Mahindra Bank are considered to be one of the top products in the personal loan segment. The parameters set by the bank for personal loans ensure that a majority of applicants can get the sanction of these personal loans. The eligibility for the personal loans depends on the various conditions like age of applicants, the income of the applicant, etc. that are set by the bank in this regard.
1. What are the benefits of having a good credit score?
A. The prime benefits of having a good credit score are,
2. What are the highlights of a personal loan from Kotak Mahindra Bank?
A. The highlights of personal loans of the bank are,
3. What are the factors that may affect the credit score of a person?
A. The factors that may affect the credit score of a person are,
4. What are the possible reasons for the rejection of a personal loan application?
A. The possible reasons for rejection of personal loan application are,
5. What is the maximum personal loan allowed by Kotak Mahindra Bank?
A. The maximum personal loan allowed by Kotak Mahindra Bank is Rs. 20,00,000.
A CIBIL™ score is a three digit number between 300 and 900 that gives potential lenders a quick idea of your loan
Credit repair involves rebuilding your credit health to a level where you become eligible for loans.
A credit report is a history of your credit behaviour and contains detailed information on all your loan and credit
A credit rating - also known as a credit score - is a 3 digit number between 300-900 that gives potential lenders
A bad credit score is generally one that is less than 650. A credit score is a three digit number in the range of 300-900
Yes. In fact, a credit score of 850 is very good! Most lenders look for a minimum credit score of 750 to approve loans
There are several ways in which you can improve your credit score. Depending on how good or bad your score is,
Is 800 a good credit score? Yes. In fact, a credit score of 800 is very good! Only a small percentage of people reach,
Is it possible to obtain a free credit check or credit report? The answer is yes and no!
Your CIBIL™ Score plays an important role in getting loans and credit cards sanctioned, because it gives lenders
It is not possible for anyone, either lenders or borrowers, to get a CIBIL™ score or credit report for free.
It is important to know that there is no such thing as a CIBIL™ defaulter list. There used to be a defaulter list earlier,
There is really no number that can be established as the average credit score in India. Many people see regular
You can repair your credit absolutely free if you do it yourself! However, many people choose to get professional help
First, it is important to note that there is no ‘Defaulters List’ that is maintained or circulated by CIBIL™ or any of the other
Sourav and Ankit are watching the New York Marathon on TV and decide that they want to run a marathon.
In India, the best credit score to have is one that is 750 or above. The three credit rating agencies that operate in India
Is a credit score of 700 good? While it is not a very bad score, it is not good enough to automatically qualify
It is difficult to get a loan with a credit score of 650. Most banks look for a minimum score of 750 when deciding
It is not likely that you will get a loan with a credit score of 600. Most banks look for a minimum score of 750
It is difficult to get a loan with a credit score of 550. Most banks look for a minimum score of 750 when deciding
A poor CIBIL™ score can increase your financial problems and make it difficult to access credit, whether as a loan or credit.
One common worry that runs through your mind after you have made a credit card settlement is,
Get loans starting from 11.25% interest rate
Know how to improve credit score
FREE credit analysis for 1 year
CreditMantri will never ask you to make a payment anywhere outside the secure CreditMantri website. DO NOT make payment to any other bank account or wallet or divulge your bank/card details to fraudsters and imposters claiming to be operating on our behalf.