Kotak Mahindra Bank Business Loan Interest Rates

Kotak Mahindra Bank Business Loan is a financial product which provides the required funds for your business purposes without disturbing your savings. Kotak Mahindra Bank Business Loan Interest Rates are highly attractive and processing fee up to 3%+GST is also charged. For higher loan eligibility, your Kotak Mahindra Bank Business Loan Interest Rates will be low. And for lower loan eligibility, your Kotak Mahindra Bank Business Loan Interest Rates will be high. You need to pay a higher interest amount if you have higher Kotak Mahindra Bank Business Loan Interest Rates. So, to secure a lower Kotak Mahindra Bank Business Loan Rate of Interest, you need to maintain a minimum credit score of 750 or above and an annual turnover of Rs. 50 lakhs. Moreover, you need to have a good repayment history for a lower business loan interest in Kotak Mahindra Bank.

Which factors affect Kotak Mahindra Bank Business Loan Interest Rates?

It is always better to check your Kotak Mahindra Bank Business Loan Interest Rates using Kotak Mahindra Bank Business Loan Interest Rate Calculator based on your Kotak Mahindra Bank Business Loan Eligibility. For a lower Kotak Mahindra Bank Business Loan Eligibility, you will get higher Kotak Mahindra Bank Business Loan Interest Rate of Interest. And if you have higher Kotak Mahindra Bank Business Loan Eligibility, you will get a lower business loan interest rate in Kotak Mahindra Bank.

You need to have a stable business of minimum 3 years generating a good amount of profit and a minimum annual turnover of Rs. 50 lakhs which will lower your Kotak Mahindra Bank Business Loan Interest Rates.

Following are some of the crucial factors which affect Kotak Mahindra Bank Business Loan Interest Rates-

• Age

  An applicant’s age is an important factor which affects Kotak Mahindra Bank Business Loan Interest Rates Calculator. The minimum and maximum age limit lies between 25 to 65 years. Applying for Kotak Mahindra Bank Business Loan at a young age will lower your repaying ability that will lower the Kotak Mahindra Bank Business Loan Interest Rates. Also many offers and exciting benefits are provided. But an older applicant with reduced repaying ability will increase your Kotak Mahindra Bank Business Loan Interest Rates.

• Business Stability

  Kotak Mahindra Bank Business Loan Interest Rate is highly affected by your business stability. For a higher eligibility leading to lower Kotak Mahindra Bank Business Loan Interest Rates, you should have a stable business record of 3 years. In addition to that, the business must be successful in generating a decent profit for the last 2 years and must produce an annual turnover of at least Rs. 50 lakhs which will reduce your Kotak Mahindra Bank Business Loan Interest Rates.

• Existing Debt

  For financial debts like EMI of different loans or credit card dues, your Kotak Mahindra Bank Business Loan Interest Rates will be high. Also, if your ongoing debt burden consumes a maximum 40% of your monthly income, then your Kotak Mahindra Bank Business Loan Interest Rates will increase. You can also opt for balance transfer from another bank to Kotak Mahindra Bank and then go for a top-up loan which will lower your Kotak Mahindra Bank Business Loan Interest Rates. Also, you have to pay your existing liabilities for a lower Kotak Mahindra Bank Business Loan Interest Rates.

• ITR

  The details of your ITR file greatly affects your Kotak Mahindra Bank Business Loan interest rates. In order to have lower Kotak Mahindra Bank Business Loan Interest Rates, you need to produce ITR details of the last 2 years with an updated bank statement of the past 6 months.

• CIBIL Score

  Your repaying history is measured by your CIBIL score which is an important factor that affects Kotak Mahindra Bank Business Loan Interest Rate Calculator. If you have a low CIBIL score, then your Kotak Mahindra Bank Business Loan Interest Rates will be high. But if you have a high CIBIL score, then your Kotak Mahindra Bank Business Loan Interest Rates will be low. So, the practice of proper repayment of your debts will increase your CIBIL score and will lower your Kotak Mahindra Bank Business Loan Interest Rates.

• Housing Situation

  Your housing situation is a huge factor that affects Kotak Mahindra Bank Business Loan Interest Rates. If you stay in your own house, then your repaying capacity will be high which will lower your Kotak Mahindra Bank Business Loan Interest Rates. But staying in any rented house or apartment will reduce your repaying capacity which will increase your Kotak Mahindra Bank Business Loan Interest Rates. Also, if you do not possess your own workplace, then your Kotak Mahindra Bank Business Loan Interest Rates will be high as you need to pay for the rented workplace.

• Geographical Location

  Your geographical location is another factor which affects your Kotak Mahindra Bank Business Loan Interest Rates. If your geographical location is in a metropolitan city, then your Kotak Mahindra Bank Business Loan Interest Rates will be low. Again if your geographical location is in a rural area, then your Kotak Mahindra Bank Business Loan Interest Rates will be high. Staying in a red marked area that is pointed by the financial institutions will reduce the trust factor which will increase your Kotak Mahindra Bank Business Loan Interest Rates.