09 FEBRUARY, 2022

The New Year always brings loads of excitement and fun. Families and friends get together, and everyone is looking forward to having a blast. With the festivities of the season, it is common for people to give gifts to their loved ones. It is just a sweet gesture made to commemorate a special occasion. Now, when it comes to gifting, it is the thought that counts. It is not always necessary for the surprise to be an expensive gift. It could also come in the form of a trip, or even tickets to a concert.  

Now, if you are worried about your budget, there is always an option to go for a personal loan. Here’s how a personal loan can be an effective solution to get your loved one the perfect gift.

1. Get up to Rs 20 lakh

If you are looking forward to surprising your loved one with a gift that is priced on the higher end, such as a diamond ring or a gold necklace, a personal loan can help! At Kotak, we offer personal loans of up to Rs 20 lakh. This will give you the required finances to make sure your New Year gift is nothing short of amazing.

2. Use a personal loan EMI calculator to help set your budget

Even though you might be eligible for a higher loan amount, it is still important to check whether the loan is in accordance with your budget. This will only be possible when you are aware of the loan’s EMIs beforehand, and this is something that a personal loan EMI calculator can help with. With details of the loan amount, repayment tenure, and the loan’s interest rate, the calculator will display the loan’s EMI results. You can then find a plan offering a personal loan interest rate that is suitable to your budget.

3. Choose a suitable repayment tenure at your convenience

You can get up to 5 years to repay the personal loan. However, if the aim is to clear the loan sooner, you are free to do so. It is advisable to make use of the personal loan calculator to understand which tenure is most suitable for your personal loan EMI payments.

4. Complete the documentation process in no time

Today, you can complete the entire documentation process right from home! You can submit all your documents online while applying for the loan, which saves a lot of time and energy.

5. Enjoy a quick loan disbursal!

If you are scrambling for a last-minute gift, do not worry about not getting financial support, as you can get a personal loan in no time. Once you are done applying for the loan and all your documents are in place, Kotak Mahindra Bank takes all but 3 seconds to disburse the loan amount.

So, head over to Kotak’s website to apply for a personal loan and give a surprise to your loved ones this New Year!

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Disclaimer: This Article is for information purposes only. The views expressed in this Article do not necessarily constitute the views of Kotak Mahindra Bank Ltd. (“Bank”) or its employees. The Bank makes no warranty of any kind with respect to the completeness or accuracy of the material and articles contained in this Article. The information contained in this Article is sourced from empaneled external experts for the benefit of the customers and it does not constitute legal advice from the Bank. The Bank, its directors, employees and the contributors shall not be responsible or liable for any damage or loss resulting from or arising due to reliance on or use of any information contained herein. Tax laws are subject to amendment from time to time. The above information is for general understanding and reference. This is not legal advice or tax advice, and users are advised to consult their tax advisors before making any decision or taking any action.