On interest rates
Rates change frequently and are set per applicant, so we do not republish a figure here. Check Kotak’s current rate on their own site, then work out the real cost with our EMI calculator.
The sliding FOIR, and why it matters
Most lenders cap total EMIs somewhere between 40% and 55% of net income. Kotak's stated range runs from about 45% up to 70%, and where you land depends on how much you take home.
The logic is sound. Somebody earning ₹30,000 needs most of it for rent, food and daily costs, so half is genuinely the safe limit. Somebody earning ₹2 lakh still has ₹60,000 to live on even after committing 70% — a far more comfortable position in absolute terms, even though the percentage looks alarming.
The effect on borrowing capacity is large. On ₹2 lakh of income with no existing EMIs, a 50% cap allows ₹1 lakh of EMI; a 70% cap allows ₹1.4 lakh. At 13% over five years that is roughly the difference between ₹44 lakh and ₹61 lakh of borrowing capacity — before any product ceiling applies. You can see the same arithmetic on any income using our eligibility calculator by changing the FOIR field.
Three income bars, not one
| Who you are | Minimum monthly income |
|---|---|
| Kotak employee | ₹20,000 |
| Kotak salary account holder | ₹25,000 |
| Everyone else | ₹30,000 |
The pattern is the same one Axis publishes and every bank applies: the closer the bank already is to your money, the lower the bar. Nothing about your repayment ability changes between those three rows — only what the bank can see without asking.
Did you know?
A high FOIR allowance is a ceiling, not advice. Committing 70% of your take-home to loan repayments leaves very little room for an unexpected month — a medical bill, a job change, a delayed bonus. Lenders assess what you can repay under normal conditions; they are not modelling your worst quarter. Borrowers who take the maximum a sliding FOIR permits are precisely the ones who struggle when something ordinary goes wrong.
The rest of the criteria
- Age — between 21 and 60.
- Employment — multinationals, public limited and private limited companies.
- Experience — at least one year of work history.
- Credit score — around 760 for comfortable approval, which is high by bank standards.
That score expectation is the main thing to check before applying. At 700 you clear most banks' minimum but sit below what Kotak is comfortable with, and an application there is more likely to cost you a hard enquiry than to produce an offer. What each band is worth is set out on our CIBIL score page.
Expert insight
Kotak suits a specific profile: a well-paid salaried applicant with an excellent score and few existing EMIs. If that is you, the sliding FOIR means you will likely be offered more here than at a bank capping everyone at 50%, and it is worth including in your comparison. If your score is in the 600s or your income is near the minimum, this is one of the less likely approvals among the large banks — spend your single application somewhere it will land.
Please note
Money Bharti is a loan marketplace and is not affiliated with, endorsed by, or acting on behalf of Kotak Mahindra Bank. Figures above are indicative, were last reviewed on 2026-07-31, and change without notice — confirm everything on Kotak's own website before applying. Nothing here is a quote, an offer, or a guarantee of approval.
Questions this page gets asked
What is the minimum salary for a Kotak personal loan?
About ₹25,000 a month for Kotak salary account holders and ₹30,000 for others, with ₹20,000 for the bank's own employees.
What CIBIL score does Kotak want?
Around 760 for comfortable approval — higher than most banks' stated minimum.
What is FOIR and why does Kotak's vary?
It is the share of your monthly income allowed to go to loan repayments. Kotak's runs from about 45% to 70%, widening as take-home income rises, because higher earners have more left over in absolute terms.
Does a higher FOIR mean I should borrow more?
No. It means you are permitted to. Committing 70% of income leaves almost no margin for an unexpected month.
What is the age limit?
Generally 21 to 60.
How much work experience is needed?
At least one year, with stability in the current role viewed favourably.
Is Kotak a good option with a 700 score?
Less likely than several other banks. At 700 you may be better served elsewhere — see our 700 score page.
Does Kotak lend to self-employed applicants?
The main personal loan targets salaried applicants. Self-employed borrowers are assessed differently — see our self-employed page.
Conclusion
Kotak is a strong option for a narrow, well-defined profile — high income, high score, light existing obligations — and its sliding FOIR can make it the bank that offers the largest amount, not merely a competitive rate.
If your score is below the mid-700s, spend your application elsewhere. And if you do qualify for a larger sanction here, remember that the extra headroom is permission rather than a recommendation. Other lenders are covered under personal loan from banks.
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