Kotak Mahindra Bank Business Loan

Kotak Mahindra Bank provides business loans for up to 7 years to help people with their business needs. They offer different types of loans like Loan Against Property, Construction Equipment Loan, Commercial Vehicle Loans, Healthcare Finance Solutions, Farm Equipment Loan, Agri Project and Crop Loans. They also have working capital business loans such as Channel Finance, Dealer Finance, Agri SME Business Loans, Infrastructure Finance, Loans for Transportation, Logistics, Warehouse, and Loan Against Credit Card Receivables.

*Terms and conditions apply.

Kotak Mahindra Bank Business Loan Interest Rates

Comparison Table of Business Loan Interest Rates offered by MybankingTips Partners:

Also read: Best Business Loan Interest Rate

 

Kotak Mahindra Bank Business Loan Fees and Charges

Also read: Best Business Loan EMI Calculator

Types of Kotak Mahindra Bank Business Loan

Kotak Mahindra Business Loan

Purpose: Kotak Mahindra Bank provides unsecured business loans to meet the financial needs of applicants related to their businesses.

Loan Amount: Rs 3 lakh- Rs 75 lakh

Tenure: Up to 4 years

Processing Fee: Up to 2%

Kotak Mahindra Loan Against Property

Purpose: Kotak Mahindra Bank offers Loan Against Property against commercial, residential, and industrial properties to meet both business and personal needs of applicants. Additionally, the bank provides an overdraft facility to its business loan applicants.

Loan amount: Rs 10 lakh- Rs 5 crore

Processing Fee: Up to 1%

Kotak Mahindra Commercial Vehicle Loans

Purpose: Kotak Mahindra Bank provides commercial vehicle loans specifically designed to finance vehicles for business purposes. Additionally, the bank extends its services to educational institutions and other captive customers to meet their commercial vehicle loan needs.

Tenure: Up to 5 years

Processing Fee: Up to 3%

Kotak Mahindra Healthcare Finance Solutions

Purpose: Kotak Mahindra Bank provides Healthcare Loans tailored to hospitals, diagnostic centers, laboratories, clinics, nursing homes, and self-employed doctors to fulfill their business needs.

Loan Amount: Rs 10 lakh- Rs 10 crore

LTV Ratio: Up to 85%

Tenures: Up to 7 years

Kotak Mahindra Construction Equipment Loans

Purpose: Kotak Mahindra Bank offers construction equipment loans that can be used to purchase a variety of products including earth moving equipment, concrete equipment, material handling equipment, and road building equipment.

Tenure: Up to 4 years

Processing Fee: Up to 3%

Kotak Mahindra Farm Equipment Loans

Purpose: Kotak Mahindra Bank provides Farm Equipment Loans for the purchase of new or used tractors, loaders, trailers, rotavators, seed-cum-fertilizer, dusters, sprayers, harvesters, and implements for both commercial and agricultural purposes. These loans are also available to existing customers for their own use.

LTV Ratio: Up to 90% of tractor value

Processing Fee: Up to 3%

Kotak Mahindra Agri Project Loans

Purpose: Kotak Mahindra Bank extends Agri Project Loans to a wide range of individuals and entities including small and medium enterprises, traders, exporters, farmers, aggregators, and processors. These loans are intended for land-based projects covering various sectors such as horticulture, vermiculture, floriculture, medicinal plant cultivation, sericulture, tissue culture, mushroom cultivation, farm mechanization, crop cultivation, irrigation, and land development. Additionally, finance is available for other allied agricultural activities including dairy, poultry, fishery, piggery, and bee-keeping. Agri Project Loans can also be utilized for the construction of cold storage facilities and godowns.

Eligibility for Kotak Mahindra Business Loans

• The applicant has to be in business for last 3 years with a minimum turnover of Rs.40 Lakhs
• The business must have generated profit for a minimum of 1 year
• The applicant should be a Sole Proprietor / Partnership firm / Private Ltd Co. / Trust / LLP involved in the business of Manufacturing, Trading or Services
• The main applicant should be minimum of 25 years of age & should be no older than 65 years at the time of loan maturity

Kotak Mahindra Business Loans

• To apply for a loan, you must be between 25 and 65 years old.
• Sole proprietors, partnerships, private limited companies, trusts, and limited liability partnerships engaged in manufacturing, trading, or services can apply for Kotak Mahindra Bank business loans.
• Your business must have been profitable for at least 1 year.
• You must have been operating your business for the past 3 years with a turnover of at least Rs 40 lakh.

Kotak Mahindra Loan Against Property

For Salaried:

• The applicant must be at least 21 years old when applying for the loan, and up to 65 years old when the loan matures.
• The applicant's annual income should be over Rs 1.8 lakh.
• Profit records for the past 2 years of business and business records for at least 3 years need to be provided.

For Self-employed:

• The applicant must be at least 18 years old when applying for the loan and 60 years old when the loan matures.
• If employed in a private limited company or partnership, the applicant should have a graduate degree.
• The applicant's monthly income should be over Rs 40,000, and they should have been employed for the last 2 to 3 years.

Also read: Best Business Loan Eligibility

Documents Required for Kotak Mahindra Bank Business Loans

• Financials of last 2 years
• Latest tax audit report
• ID Proof: PAN Card, Passport, Driving License, Aadhaar Card, Voter ID
• Address Proof: Passport, Driving License, Voter ID, Aadhaar Card, Bank Statement, Utility Bill, Bank Account Passbook not more than 3 months old
• Ownership Proof: Electricity bill, maintenance bill, agreement copy, municipal tax bill, share certificate
• Business Continuity Proof: Shop and establishment certificate, tax registrations-VAT, Service tax, GST registration
• Firm Constitution: Partnership deed, MOA, GST registration certificate
• Bank statement of business account for last 6 months

Also Read :  Best Business Loan Documents Required