Date : 27/9/2023
Dear Sir/Ma’am,
We are happy to inform you that your Kotak Personal loan has been sanctioned for the below mentioned
amount, rate of interest, other applicable charges and subject to the terms & conditions mentioned in the facility
documents/other related documents executed by you. Kindly acknowledge and confirm to us so that we can
proceed with the disbursement, by replying I have read, understood and do hereby accept the terms and
conditions as mentioned in the facility documents/other related documents, 'Ok to proceed' to this mail
from your email id.
# Particulars Details/Amount
A. Total sanctioned loan amount 507711.00
B. Tenure (in months) 60 Months
C. Interest Rate: (FIXED) 13.75% Per Annum
D. Monthly EMI Amount 11748.00
02nd of Every Month from
E. First EMI Date
02nd Nov 2023 Onwards
1.SBI CC - 54776.00
F. BT Amount (as provided by customer)
2.ICICI CC - 53640.00
Net disbursed amount (A-F-G) 385393.00
Charges (G):
S.No. Charge detail Amount
1 Processing Fees 5991.00
2 Stamp Duty Charges 200.00
3 Insurance Premium Amount 7711.00
4 Re-plus charges (for internal Top up only) 0.00
Others (if any)____________________
5 0.00
________________________________
Total charges(G) 13902.00
For any query/assistance, we are available at our website www.kotak.com (FAQ section, through Mobile
Banking and Net Banking).
Terms and conditions:
1. PDC (Post Dated Cheques):
a. Two cheques of EMI amount (This is waived, if e-NACH registration is completed at the time of loan
processing).
b. 1 cheque of 3 times EMI amount and 1 cheque for the amount not exceeding the agreement amount
needs to be submitted. These cheques will only be encashed if any dues arising out of the loan
sanctioned hereunder needs to be recovered. The security cheques (if not encashed), will be returned
to the customer after all liabilities arising out of the loan are fully discharged.
Type of cheque No of cheques Amount Remarks
Waived if e- NACH
EMI cheque 2 EMI amount
registration is completed
Security cheque 1 3 x EMI amount Mandatory undated cheque
amount not exceeding the agreement
Security cheque 1 amount Mandatory undated cheque
2. This sanction letter is valid for 30 days from the date of issuance & the same shall lapse if not accepted
within the said period. This sanction letter shall supersede all our previous oral & written communication on
this subject. You are required to execute necessary loan documents containing the detailed terms and
conditions of the loan sanction hereunder. This sanction is subject to you providing requisite documents
supporting income proof, address proof & other KYC documents as required by the Bank.
3. The rate of interest applicable to the loan facility availed will be based upon the Bank's evaluation of the
creditworthiness of the borrower & risk profiling done by the Bank.
4. The rate of interest may vary on the date of disbursement. Hence, the final rate of interest shall slightly differ
from the actual rate of interest. However, kindly note that the EMI amount mentioned hereinabove shall
remain the same and will not change.
5. Loan disbursement will be at the sole discretion of Kotak Mahindra Bank Ltd and subject to guidelines
issued by RBI from time to time.
6. The terms and conditions as appeared here and as specified in the familiarity documents and as amended
from time to time shall be binding upon you.
7. The below schedule of fees & charges is not the complete list of charges applicable. Kindly refer to
www.kotak.com. for the detailed list of fees & charges. Charges, as mentioned, can be changed from time to
time by Kotak Mahindra Bank Ltd at its sole discretion. Kotak Mahindra Bank is authorized to levy charges
as per its internal policy.
8. Kindly do not give cash or blank cheque to any of the bank's representatives. Kindly ensure the cheques are
duly filled out before handing them to the Bank representative.
9. As per the guidelines issued by RBI, Kotak Mahindra Bank Ltd has adopted the Fair Practice code for its
lending services, which is published on our website www.kotak.com.
10. In the case of BT/Topup, the final amount may slightly differ depending on the interest due till the day of
cancellation of the last loan account.
Other features and charges:
A) Loan tenure <= 18 months: lock-in period will be 50% of the total
Lock-in period: tenure
B) Loan tenure > 18 months : 12 months lock-in period
Upto 3 years - 4% + applicable GST on outstanding principal
Foreclosure charges: After 3 years - 2% + applicable GST on outstanding principal
(Loan foreclosure is allowed only after completion of the lock-in period)
Post completion of lock-in period: Part-Prepayment is allowed up to 20%
Part pre-payment of Principal loan outstanding. It is allowed only once per financial year.
Charges per instance of part payment is INR 500 plus taxes
Overdue interest 3% per month on the overdue instalment amount
EMI dishonour/Bounce charges INR 500/- plus applicable taxes per instance
Change in mode of payment: INR 500/- plus applicable taxes per instance
Duplicate NOC/No Dues certificate: Nil
Collection Charges: INR 150 + 3% of Interest on overdue EMI
Soft copy: Download instantly from mobile/net-banking for zero cost.
SOA/Amortization Schedule: Physical copy: Once in a year - no charge. Post that, INR 200 plus taxes
will be applicable for every request.
We will be glad to assist you. Assuring you of our best services always.
For Kotak Mahindra Bank Ltd
