Eligibility – Kotak Mahindra Bank

Kotak Mid-Month Advance Eligibility

Kotak Mid-Month Advance is offer basis only and available online on Net Banking and Mobile Banking. Customer should meet the following basic criteria:

Indian resident and aged between 21-58 years
Salary account with Kotak Mahindra Bank
Minimum net monthly salary of Rs.10,000/-

Credit is at the sole discretion of Kotak Mahindra Bank basis approved risk policy

Kotak Mid-Month Advance Eligibility

Kotak Mid-Month Advance is one of a kind loans available in India at attractive interest rates of 10% per annum! Below is the full list of fees and charges:

Heads	Charges
Interest rate	10% per annum
Loan Processing Fees	Up to 6% of the final loan amount plus applicable taxes. Will be deducted from the loan amount at the time of disbursal
Stamping Charges	Applicable as per the respective State's Stamp Act
Penal charges on Overdue EMI	Amounts standing unpaid on respective due dates shall attract penal charge at 8% per annum plus applicable taxes (to be charged for actual no. of days) on overdue amount
Bounce charges	Rs.750 per instance (Inclusive of applicable taxes)

* Fees and charges mentioned above are subject to change from time to time.

Frequently Asked Questions

What is Kotak Mid-Month Advance?

Kotak Mid-Month Advance is a pre-approved short-term loan offered exclusively to Kotak customers. It provides instant fund disbursal without any paperwork and is available online via Kotak Mobile Banking, Net Banking, SMS, or email communication

How can I contact Kotak for further assistance?

You can reach our customer service at 1860 266 2666 (local call rates apply), available Monday to Saturday, 9:00 AM to 8:00 PM, excluding holidays.

Can I apply offline or at a branch?

No. Kotak Mid-Month Advance is available only online through Mobile Banking, Net Banking, SMS, or email communication.

Can I avail the loan more than once in a cycle?

Currently, only one loan can be availed per cycle.

Can I re-avail Kotak Mid-Month Advance?

Yes, provided the previous loan is fully repaid on its maturity date and you continue to meet the bank’s credit criteria. Repeat usage is subject to offer availability.

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Kotak Mid-Month Advance Eligibility

Kotak Mid-Month Advance Eligibility

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Frequently Asked Questions

What is Kotak Mid-Month Advance?

How can I contact Kotak for further assistance?

Can I apply offline or at a branch?

Can I avail the loan more than once in a cycle?

Can I re-avail Kotak Mid-Month Advance?