Easy Credit Line @ Affordable Interest Rate

Get Instant Access to Funds with Easy Credit Line

What is Easy Credit Line Facility?

Easy Credit Line allows the customers to withdraw funds as per requirement, and pay interest only on the used amount for the utilization period. This option is handy for meeting pressing needs or managing unexpected expenses. The Easy Credit Line facility is available for salaried individuals. Easy Credit Line guarantees you have immediate access to funds without the higher costs typically associated with other loans.

Features and Advantages of Easy Credit Line:

Opting for Easy Credit Line for salaried individuals comes with numerous benefits. Here’s how Easy Credit Line make managing finances flexible and convenient:

Loan Amount	Rs. 1,00,000 – Rs. 20,00,000
Tenure	Upto 72 months
IRR	13.50% onwards

Pay as per use: This facility allows you to pay interest only on the utilized amount instead of paying interest on the entire sanction limit.
Simple Documentation: The documents required for Easy Credit Line are typically straightforward and easy to provide.
Multiple withdrawals via online transactions: Access funds online to meet an array of personal expenses, as many times as needed.
Transfer Funds across Accounts: Enjoy the freedom to transfer funds seamlessly across both Kotak and non-Kotak accounts.
Pay All Bills: Use the funds to pay utility bills, credit card bills to manage various payments seamlessly.

Eligibility for Easy Credit Line

Eligibility for a Personal Loan Easy Credit Line is generally based on your financial history and existing relationship with the lender. It involves meeting specific criteria that confirm your capability to manage and repay the borrowed funds. Here's a detailed look at these requirements:

Broad Eligibility criteria are as follows:

Eligibility Criteria	Requirement
Age	Individuals aged between 21 and 58 years are eligible
CIBIL score	Required CIBIL score of >=730
Minimum monthly income	Minimum Take home salary of Rs. 50,000 for Kotak salary account holders, Rs. 1,00,000 for Non-Kotak salary account holders from tier 1 cities and Rs. 75,000 for Non-Kotak salary account holders from non-tier 1 cities
Employer and Risk Evaluation	Other than the above mentioned criteria, customer’s employer category and overall risk profile is evaluated

List of Documents Required for Easy Credit Line

The documentation process for Easy Credit Line is relatively simple:

Please find below the list of documents required:

ID and Address proof
PAN Card
Pay Slip for last 2 months
Bank Statement of primary account for last 3 complete months

You can withdraw Easy Credit Line funds whenever you need and transfer them to your bank account within 2 hours. This hassle-free online procedure to apply for Easy Credit Line ensures immediate financial support is available whenever you need it.

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Existing to bank customers

Frequently Asked Questions

What is Easy Credit Line?

The Easy Credit Line facility provides a flexible credit limit to help you manage your liquidity needs. You can make multiple withdrawals from your Easy Credit Line account whenever required, and your limit is restored each time you deposit any amount back. Interest is charged only on the amount you actually use, not on the entire sanctioned limit.

What is the minimum and maximum limit available?

The minimum limit for Easy Credit Line is ₹1 lakh, and the maximum is ₹20 lakh. Higher limits may be approved based on your credit evaluation.

What are key features of Easy Credit Line?

1. Tenure of up to 6 years

2. Pay only the interest during the first year

3. Interest charged only on the amount you use

4. Multiple withdrawals anytime through online transactions

5. Use it for utility bill payments, credit card bills, and more

How can a customer avail this facility?

For assistance, you can connect with your Relationship Manager. A dedicated Personal Loan Sales Manager will guide you through the documentation process.

What documents are required to avail Easy Credit Line?

1. KYC documents (if applicable)

2. Latest 3 months’ salary slips

3. Latest 3 months’ bank statements

What is the interest due date for the Easy Credit Line account?

Interest gets charged at the end of every month's 1st day in the Easy Credit Line account.