Business Loan Interest Rates | Business Loan Fees and Charges

Fees & Charges

Fees & charges - GSFC
Processing Fee (Non-refundable)	Maximum 2% of the loan / facility amount (Plus Taxes as applicable) NIL Processing Fees for total loan facility up to ₹5 Lakhs availed by micro and small Enterprises subject to URC submission prior to disbursal
Documentation Charges	Loan amount up to INR 10 lakh: INR 3,500/- (Plus Taxes as applicable)
Documentation Charges	Loan amount above INR 10 lakhs: INR 6,000/- (Plus Taxes as applicable)
Cheque dishonour Charges	INR 750/- (Plus Taxes as applicable) per instance.
Charges for Copy of any Document	INR 500/- (Plus Taxes as applicable) per instance.
Repayment Mode I Account swap charges	INR 500/- (Plus Taxes as applicable) per instance.
Charges for Duplicate NOC / No Dues Certificate	INR 500/- (Plus Taxes as applicable) per instance.
Charges for Duplicate NOC / No Dues Certificate	INR 500/- (Plus Taxes as applicable) per instance.
Charges for copy of Credit Bureau Report (to Customer who has availed Loan /Facility from us)	INR 100/- (plus taxes as applicable) per instance for Individuals
	INR 500/- (Plus taxes as applicable) per instance for non-individuals
Prepayment Charges	The borrower shall be liable to pay up to 4% foreclosure / closure charges of the outstanding (Plus taxes as applicable) Micro and Small Enterprises are exempted from closure charges subject to such closure being through own source of funds. The borrower entities shall be required to submit proof(s) qualifying as own source of funds to the satisfaction of the Bank.
Charges specific to Term Loans:
Substitute Interest (Penal Interest)	Up to 3% p.m. (plus taxes as applicable) compounded monthly on the Amount Due but unpaid from the Date of the Amount falling Due till the Date of actual Payment.
Collection Charges (in case of Default)	Up to 3% (plus taxes as applicable) of Cheque / instrument Dishonour Charges plus Substitute Interest.
Charges for Amortisation Schedule/ Account Statement	Free once in a Financial Year. Thereafter, INR 500/- (plus taxes as applicable) per instance
Charges specific to Overdraft Facility:
Annual Review / Renewal Charges	Up to 2% of renewal limit (Plus Taxes as applicable)
Over-line Rate / Penal Interest in case of over-line accounts	Up to 3% p.m. (plus taxes as applicable). This would be changed on the amount over and above the sanctioned limit on a given day.
Non-utilisation Charges	Up to 2% of limits, if utilization of limits for the quarter is below 60%;
Charges for Interest Certificate	Free once in Financial year. Thereafter, INR 250/- (plus Taxes as applicable) per instance.
Notes:
· Competitive Interest rates
· Stamp Duty on Loan Agreement / Overdraft Agreement, Guarantor Agreement, etc., varies from State/UT to State/UT. Stamping Charges, Notarisation Charges, Charge Creation on Collateral Security, etc., as per RBI/Statutory Notifications, as applicable.
· Charges for other Services which is not specified above would be specified as applicable when the Customer applies for those Services and the same shall be payable by the Borrower. e.g. Revalidation of Sanction, Change in Collateral, Re-schedulement of Loan, Change in EMI Date, Solvency Certificate Issuance Charges, etc.,
· Taxes / other statutory levies may be charged to the Borrower if applicable as per Government / RBI directives.
· Any charges are applicable subject to regulatory/statutory feasibility. Any relaxations available to specific borrower categories / groups, if any, shall be applicable to such beneficiaries.
· Bank reserves the right to modify any charges from time to time or to introduce any new charges, as it may deem appropriate and will publish them on the bank’s website (www.kotak.com).
Note: BLIOD NUC charges will be Nil, as mentioned in the terms and conditions in the online journey.

How soon will my Business Loan get processed?

Once you submit all the required documentation to the Kotak Bank, your business loan will get sanctioned within 72 hours**

** Terms & Conditions apply. Credit at sole discretion of Kotak Mahindra Bank Ltd and subject to guidelines issued by RBI from time to time. Bank may engage the services of marketing agents for the purpose of sourcing loan assets.

How can I calculate your Business Loan EMIs?

To know how much EMI you would have to pay every month, try our easy-to-use business loan emi calculator. Simply enter the following details & Know your EMI:

Loan Amount
Desired Interest Rates (%)
Tenure in Years/Months

Who could be eligible for a Business Loan?

Are you thinking of availing a business loan anytime soon? Browse through our business loan eligibility criteria mentioned below, to make sure your business loan is approved at the very first go:

The applicant has to be in business for last 3 years with a minimum turnover of Rs.40 Lakhs
The business must have generated profit for a minimum of 1 year
The applicant should be a Sole Proprietor / Partnership firm / Private Ltd Co. / Trust / LLP involved in the business of Manufacturing, Trading or Services
The main applicant should be minimum of 25 years of age & should be no older than 65 years at the time of loan maturity.

Check out the criteria for business loans eligibility to know more.

What are the benefits of Kotak Business Loans?

Kotak Business Loans are available from Rs. 3 lakhs to Rs. 75 Lakhs. Minimal paperwork and speedy approvals are designed to speed up the entire process, which helps us making your banking experience fruitful.
To find out what more is in store for you, take a look at the details for business loan.

FAQ's

Is the interest rate Fixed or variable for business loans?

Business loans offered by Kotak have a fixed rate of interest.

Are there any foreclosure charges for closure of business loan?

The foreclosure charge is 4% of foreclosure loan amount plus applicable taxes

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Business Loan Fees and Other Charges