Personal Loan Agreement

Notwithstanding anything stated in this Agreement, the con nua on of the Loan shall be at sole and
absolute discre on of the Bank and the Borrower agrees that the Bank shall be en tled to, at any me, in
its discre on and without assigning any reason, cancel/recall the Loan and call upon the Borrower to pay
the Outstanding Balance. It is specified that the repayment schedule set out in Agreement Schedule is
without prejudice to the Bank's right to recall the en re Loan and to demand payment of the Outstanding
Balance(s) along with applicable charges, receivables, interest and Foreclosure charges (if applicable) Any
such demand by the Bank shall cons tute sufficient no ce of such cancella on/recall and upon such
demand by the Bank, the Borrower shall pay forthwith the whole of the Outstanding Balance to the Bank
without any delay or demur or protest or set-off or counterclaim.
As a pre-condi on to the said Loan given / granted / to be granted hereunder, each of the Obligors authorises,
consents and agrees that the Bank shall have the right to not return the Applica on, the photographs,
informa on and documents submi ed. The Obligors, including the directors, partners, proprietors, owners,
promoters, employees, officers (wherever applicable) further acknowledges and confirms that the Bank shall,
without no ce to or without any consent of the Obligors, (and even for considera on) be absolutely en tled
and have full right, power and authority to make disclosure of any informa on rela ng to Obligors including
personal informa on, details in rela on to documents, Loan, defaults, Security, obliga ons of Obligor, to the
Credit Informa on Bureau of India (CIBIL) and/or any other governmental/regulatory/statutory or private
agency/en ty, credit bureau, RBI, the Bank's other branches/ subsidiaries/ affiliates/ ra ng agencies, service
providers, other banks / financial ins tu ons, any third par es, any assignees/poten al assignees or
transferees, who may need the informa on and may process the informa on, publish in such manner and
through such medium as may be deemed necessary by the publisher/ Bank/ RBI, including publishing the
name as part of willful defaulter's list from me to me, as also use for KYC informa on verifica on, credit risk
analysis, or for other related purposes. The Obligors waives the privilege of privacy and privity of contract in
this regard. The Bank shall have the right, without no ce to or without any consent of the Obligors, to
approach, make enquiries, obtain informa on, from other banks/finance en es/credit bureaus, for
assessing track record of Borrower/ Obligor, credit risk, or for establishing contact with the Obligors or for the
purpose of recovery of dues from the Obligors or any other legi mate purpose in the opinion of the Bank.
Personal loan interest rate (Fixed) Starting from 10.99% p.a.
Loan processing fees Up to 3% of the final loan amount plus taxes. Will be deducted from
(Non Refundable) the loan amount at the time of disbursal.
Stamp Duty Charges 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 (to be charged for actual no. of days) on
overdue amount plus applicable taxes
EMI dishonour/Bounce charges NR 750/- plus taxes per instance
Swap charges, i.e. charges for INR 500/- plus taxes per instance
change in repayment mode,
repayment instrument or EMI date
Lock-in period No lock-in period for Kotak Personal loans post payment of first EMI.
Foreclosure charges Upto 3 years - 4% + taxes on outstanding principal

After 3 years - 2% + taxes on outstanding principal
For >10L Loan amount: Foreclosure charges of INR 999/- plus taxes
(only if closing through own funds and after completion of 12 months).
Applicable only for Sanction Letter issued on or before 21st June 2023
and Subject to following conditions.
(This will not be applicable for digitally availed loans)
i) Customer will have to provide a copy of this sanction letter/email
at the time of foreclosing the loan with the above clause mentioned.
ii) Latest 3-month salary account statement and savings account
statement (from where payment is being made) must be submitted,
and no loans should have been availed during the last three months
to benefit from this offer (FC 999/-). Bank has the right to ask for
additional documents in order to validate the claim and the decision
of the Bank will be final and binding in all respects.
Part pre-payment charges For loans disbursed on or before - 1st February 2020 - Part Pre
payment is not allowed
For loans disbursed after 1st February 2020
Post completion of 12 months -Part-Prepayment is allowed up to
20% of Principal loan outstanding.
It is allowed once a year.
Charge per instance of part payment is INR 500 plus taxes
Physical SOA or Amortization Once in a year- No charge.

schedule
Post that - INR 200 plus taxes per request
Disclaimer
The aforementioned fees and charges are mostly excluding GST and other statutory levies. In some
charges, the GST is included while in others additional GST would be applicable. The fees and charges are
subject to be revised by Kotak Mahindra Bank from time to time. If there are any changes in the fees and
charge structure, the same would be intimated to the borrower and updated on the website.

Personal Loan Agreement

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Notwithstanding anything stated in this Agreement, the con nua on of the Loan shall be at sole and

Stamp Duty Charges As per the respective State’s Stamp Act

EMI dishonour/Bounce charges NR 750/- plus taxes per instance

Foreclosure charges Upto 3 years - 4% + taxes on outstanding principal

Physical SOA or Amortization Once in a year- No charge.

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