Key facts: Axis Bank vs Kotak Mahindra Bank personal loan
- Starting rate: Axis Bank 9.99%, Kotak Mahindra Bank 10.99%. This is the lowest rate each loan provider advertises for a personal loan, not the rate everyone is offered.
- Gap between starting rates: 1 percentage points between the lowest and the highest.
- Maximum tenure: Kotak Mahindra Bank 6 years. Axis Bank does not state one in months or years.
- Type of loan provider: Axis Bank is a private bank; Kotak Mahindra Bank is a private bank. Banks and NBFCs price floating rates differently.
- Official websites: axis.bank.in, kotak.bank.in.
- Pages checked: 4 official pages opened for this loan type.
- Loan types with a published rate: Axis Bank 4, Kotak Mahindra Bank 2 (out of 8 we track).
- EMI on ₹5 lakh over 5 years: Axis Bank ₹10,621, Kotak Mahindra Bank ₹10,869 a month, at each starting rate.
- Total interest on the same loan: Axis Bank ₹1,37,264, Kotak Mahindra Bank ₹1,52,123.
- Last checked: 12 October 2026, on each loan provider's own website.
Who each loan provider suits on a personal loan
Built only from figures the loan providers publish. It says where each one is ahead on paper, not who will approve you.
Pick Axis Bank if you want
- The lower published starting rate (9.99%)
Pick Kotak Mahindra Bank if you want
- The most complete published terms for this loan (4 of 5 details)
Axis Bank vs Kotak Mahindra Bank personal loan: rate, fees and tenure
Starting personal loan rates as published: Axis Bank from 9.99% and Kotak Mahindra Bank from 10.99%. Axis Bank is lower at the starting rate, but the top of each range and your own credit profile decide what you are offered.
| Detail | Axis Bank | Kotak Mahindra Bank |
|---|---|---|
| Published rate | Starting at 9.99% p.a. | Starts at 10.99% p.a. |
| Rate basis | Not published | fixed |
| Loan amount | Up to Rs 50 lakhs | Up to ₹1 crore |
| Maximum tenure | Not published | Up to 6 years |
| Processing fee | Not published | Up to 5% of final loan amount + taxes, non-refundable |
| Prepayment / foreclosure | Not published | 4% + taxes on outstanding principal/part-payment up to 3 years; 2% + taxes after 3 years |
| Other terms published |
|
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| Official source | axis.bank.in/loans/personal-loan axis.bank.in/loans/personal-loan/interest-rates-charges | kotak.bank.in/en/personal-banking/loans/personal-loan.html kotak.bank.in/en/personal-banking/loans/personal-loan/fees-and-charges.html |
EMI illustration: ₹5 lakh over 5 years
| Loan provider | Rate used | Monthly EMI | Total interest | Total repayable |
|---|---|---|---|---|
| Axis Bank | 9.99% | ₹10,621 | ₹1,37,264 | ₹6,37,264 |
| Kotak Mahindra Bank | 10.99% | ₹10,869 | ₹1,52,123 | ₹6,52,123 |
Illustration only, at each loan provider's lowest published rate. It leaves out processing fees, GST, insurance and any other charges, and it is not an offer. Your approved rate may be higher.
Read the full guide: Personal loan
Axis Bank vs Kotak Mahindra Bank personal loan EMI by amount and tenure
Monthly EMI at each loan provider's lowest published rate, on a reducing balance. Fees, GST and insurance are not included, and your offered rate may be higher.
By loan amount, over 5 years
| Loan amount | Axis Bank (9.99%) | Kotak Mahindra Bank (10.99%) |
|---|---|---|
| ₹1 lakh | ₹2,124 | ₹2,174 |
| ₹3 lakh | ₹6,373 | ₹6,521 |
| ₹5 lakh | ₹10,621 | ₹10,869 |
| ₹10 lakh | ₹21,242 | ₹21,737 |
| ₹20 lakh | ₹42,484 | ₹43,475 |
By tenure, on ₹5 lakh
| Tenure | Axis Bank (9.99%) | Kotak Mahindra Bank (10.99%) |
|---|---|---|
| 1 year | ₹43,956 interest ₹27,467 | ₹44,188 interest ₹30,262 |
| 2 years | ₹23,070 interest ₹53,684 | ₹23,302 interest ₹59,238 |
| 3 years | ₹16,131 interest ₹80,725 | ₹16,367 interest ₹89,212 |
| 5 years | ₹10,621 interest ₹1,37,264 | ₹10,869 interest ₹1,52,123 |
| 7 years | ₹8,298 interest ₹1,97,033 | Above its stated maximum |
A longer tenure lowers the EMI and raises the total interest. Pick the shortest tenure your monthly budget can carry.
What each loan provider publishes about its personal loan
Axis Bank
Private bank · Axis Bank Limited
- Instant approval
- No collateral required
- Flexible repayment
- Fully online application
Kotak Mahindra Bank
Private bank · Kotak Mahindra Bank Limited
- How the rate is set: fixed
- Unsecured, no collateral
- Minimal documentation
- Digital KYC via Aadhaar-based video verification
- Pre-approved loans for existing customers with good credit history
Before you apply for a personal loan
- Credit score: Your score decides where you land between the starting rate and the top of the range. A lower score can push the offer well above the advertised rate.
- Insurance and add-ons: Loan insurance and other bundled products are usually optional. Ask for them to be removed if you do not want them.
- Total repayable amount: Compare the APR and the total you will repay, both shown in the Key Fact Statement, not only the monthly EMI.
- Existing EMIs: Loan providers look at how much of your monthly income already goes to EMIs. Closing a small loan first can improve the offer.
RBI requires every loan provider to hand you a Key Fact Statement before you sign. It shows the rate, every fee, the APR and the total you will repay.
Terms used on this page
Plain meanings of the terms this comparison uses.
Starting rate: The lowest rate a loan provider advertises for a product. Most borrowers are offered a higher rate, because the final rate depends on credit score, income, employer and loan amount.
APR: Annual percentage rate. It adds the processing fee and other charges to the interest rate, so it shows the yearly cost of the loan better than the interest rate alone.
Key Fact Statement: A short summary the loan provider gives you before you sign. It lists the interest rate, every fee, the APR and the total amount you will repay. RBI requires it for retail loans.
Floating rate and repo rate: A floating rate moves with a benchmark, and for banks that is usually the RBI repo rate, the rate at which RBI lends to banks. A fixed rate stays the same for the period you agree.
Processing fee: A one-time charge for handling the application. It is usually a percentage of the loan amount plus GST, and it is often deducted before the money reaches you.
Credit score: A number from 300 to 900 that shows how you have repaid past loans and cards. A higher score usually gets you a lower rate.
Sources and last check
Every figure above is read from the loan provider's own website and was checked on 12 October 2026. A blank means the page does not show that figure, and we never estimate one.
- Axis Bank: axis.bank.in/loans/personal-loan axis.bank.in/loans/personal-loan/interest-rates-charges
- Kotak Mahindra Bank: kotak.bank.in/en/personal-banking/loans/personal-loan.html kotak.bank.in/en/personal-banking/loans/personal-loan/fees-and-charge...
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More personal loan comparisons
Axis Bank vs Kotak Mahindra Bank: every loan type on one page · All personal loan comparisons · Personal loan guide · Personal loan EMI calculator
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Frequently asked questions
Which is better for a personal loan: Axis Bank or Kotak Mahindra Bank?
Axis Bank has the lower published starting personal loan rate at 9.99%, against 10.99% at Kotak Mahindra Bank. On ₹5 lakh over 5 years the difference in total interest is ₹14,859. Rate is only one part of the cost, so also compare the processing fee, the prepayment terms and the total repayable amount in the Key Fact Statement.
Which has the lower personal loan interest rate: Axis Bank or Kotak Mahindra Bank?
Axis Bank has the lower published starting personal loan rate at 9.99%, against 10.99% at Kotak Mahindra Bank. The rate you are offered depends on your credit profile, income and loan amount.
What is the personal loan processing fee at Axis Bank and Kotak Mahindra Bank?
Axis Bank: not published. Kotak Mahindra Bank: Up to 5% of final loan amount + taxes, non-refundable. Fees can change, so confirm the amount in rupees, with GST, before you accept.
What is the maximum personal loan tenure at Axis Bank and Kotak Mahindra Bank?
Axis Bank: not published. Kotak Mahindra Bank: Up to 6 years. A longer tenure lowers the EMI and raises the total interest.
Can I prepay or foreclose a personal loan early at Axis Bank and Kotak Mahindra Bank?
Axis Bank: not published. Kotak Mahindra Bank: 4% + taxes on outstanding principal/part-payment up to 3 years; 2% + taxes after 3 years. Ask whether the rate on your loan is fixed or floating, because the charges depend on it.
What is the EMI on a ₹5 lakh personal loan at Axis Bank and Kotak Mahindra Bank?
Over 5 years at each loan provider's lowest published rate the monthly EMI is ₹10,621 at Axis Bank and ₹10,869 at Kotak Mahindra Bank. This leaves out processing fees, GST and insurance, and your approved rate may be higher.
Who is eligible for a personal loan at Axis Bank and Kotak Mahindra Bank?
Axis Bank: not published. Kotak Mahindra Bank: not published. Each loan provider can ask for more documents once you apply.
Are Axis Bank and Kotak Mahindra Bank regulated by the RBI?
Yes. Axis Bank is a private bank, Kotak Mahindra Bank is a private bank, and all lend under RBI rules, including the requirement to give you a Key Fact Statement before you sign.
Where do these personal loan figures come from?
From the official pages of Axis Bank and Kotak Mahindra Bank, opened and checked on 12 October 2026. The sources are listed at the bottom of this page. We show a blank where a loan provider does not publish a figure, and we do not estimate one.
KhatuLoans is not a loan provider and is not paid by the loan providers named here to rank them. Rates, fees and eligibility change; always confirm with the loan provider. Read our editorial policy and how we make money.