Key facts: Bank of Baroda vs Kotak Mahindra Bank personal loan
- Starting rate: Bank of Baroda 10.40%, 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: 0.59 percentage points between the lowest and the highest.
- Top of the published range: Bank of Baroda up to 17.75%.
- Maximum tenure: Bank of Baroda 7 years, Kotak Mahindra Bank 6 years.
- Type of loan provider: Bank of Baroda is a public sector bank; Kotak Mahindra Bank is a private bank. Banks and NBFCs price floating rates differently.
- Official websites: bankofbaroda.bank.in, kotak.bank.in.
- Pages checked: 3 official pages opened for this loan type.
- Loan types with a published rate: Bank of Baroda 4, Kotak Mahindra Bank 2 (out of 8 we track).
- EMI on ₹5 lakh over 5 years: Bank of Baroda ₹10,722, Kotak Mahindra Bank ₹10,869 a month, at each starting rate.
- Total interest on the same loan: Bank of Baroda ₹1,43,332, 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 Bank of Baroda if you want
- The lower published starting rate (10.40%)
- The longer maximum tenure (7 years)
Where Kotak Mahindra Bank stands
No clear edge on the published figures we could compare for a personal loan. Check the table below and the Key Fact Statement.
Bank of Baroda vs Kotak Mahindra Bank personal loan: rate, fees and tenure
Starting personal loan rates as published: Bank of Baroda from 10.40% and Kotak Mahindra Bank from 10.99%. Bank of Baroda is lower at the starting rate, but the top of each range and your own credit profile decide what you are offered. Bank of Baroda lists the longer maximum tenure (84 months (govt employees with bob salary account)).
| Detail | Bank of Baroda | Kotak Mahindra Bank |
|---|---|---|
| Published rate | Floating 10.40% to 17.75%; fixed 11.00% to 18.05% (varies by category and CIBIL) | Starts at 10.99% p.a. |
| Rate basis | Floating: Repo-linked (BRLLR) + spread; fixed: 1-year MCLR + spread | fixed |
| Loan amount | Rs 1 lakh (metro/urban); Rs 0.50 lakh (rural/semi-urban) to Rs 20 lakh | Up to ₹1 crore |
| Maximum tenure | 84 months (govt employees with BoB salary account) | Up to 6 years |
| Processing fee | Nil for govt employees with BoB salary account; otherwise 1.00% to 2.00% + GST, min Rs 1,000 + GST, max Rs 10,000 + GST | 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 |
| Eligibility (as published) | Min age 21; max age 60 (salaried) / 65 (non-salaried) incl. tenure; FOIR 40%-75%; rate linked to CIBIL, no minimum stated | Not published |
| Other terms published |
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| Official source | bankofbaroda.bank.in/loans/personal-loan/baroda-personal-loan | 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 |
|---|---|---|---|---|
| Bank of Baroda | 10.40% | ₹10,722 | ₹1,43,332 | ₹6,43,332 |
| 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
Bank of Baroda 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 | Bank of Baroda (10.40%) | Kotak Mahindra Bank (10.99%) |
|---|---|---|
| ₹1 lakh | ₹2,144 | ₹2,174 |
| ₹3 lakh | ₹6,433 | ₹6,521 |
| ₹5 lakh | ₹10,722 | ₹10,869 |
| ₹10 lakh | ₹21,444 | ₹21,737 |
| ₹20 lakh | ₹42,889 | ₹43,475 |
By tenure, on ₹5 lakh
| Tenure | Bank of Baroda (10.40%) | Kotak Mahindra Bank (10.99%) |
|---|---|---|
| 1 year | ₹44,051 interest ₹28,612 | ₹44,188 interest ₹30,262 |
| 2 years | ₹23,165 interest ₹55,957 | ₹23,302 interest ₹59,238 |
| 3 years | ₹16,228 interest ₹84,196 | ₹16,367 interest ₹89,212 |
| 5 years | ₹10,722 interest ₹1,43,332 | ₹10,869 interest ₹1,52,123 |
| 7 years | ₹8,404 interest ₹2,05,961 | 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
Bank of Baroda
Public sector bank · Bank of Baroda
- How the rate is set: Floating: Repo-linked (BRLLR) + spread; fixed: 1-year MCLR + spread
- Eligibility as published: Min age 21; max age 60 (salaried) / 65 (non-salaried) incl. tenure; FOIR 40%-75%; rate linked to CIBIL, no minimum stated
- Floating and fixed rate options
- Loan up to Rs 20 lakh
- Tenure up to 84 months for eligible govt employees
- Repayment via cheque, bank transfer or cash
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.
- Bank of Baroda: bankofbaroda.bank.in/loans/personal-loan/baroda-personal-loan
- 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
Bank of Baroda 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: Bank of Baroda or Kotak Mahindra Bank?
Bank of Baroda has the lower published starting personal loan rate at 10.40%, against 10.99% at Kotak Mahindra Bank. On ₹5 lakh over 5 years the difference in total interest is ₹8,791. 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: Bank of Baroda or Kotak Mahindra Bank?
Bank of Baroda has the lower published starting personal loan rate at 10.40%, against 10.99% at Kotak Mahindra Bank. The published ranges run to Bank of Baroda up to 17.75%, so the rate you are offered can sit well above the starting rate.
What is the personal loan processing fee at Bank of Baroda and Kotak Mahindra Bank?
Bank of Baroda: Nil for govt employees with BoB salary account; otherwise 1.00% to 2.00% + GST, min Rs 1,000 + GST, max Rs 10,000 + GST. 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 Bank of Baroda and Kotak Mahindra Bank?
Bank of Baroda: 84 months (govt employees with BoB salary account). 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 Bank of Baroda and Kotak Mahindra Bank?
Bank of Baroda: 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 Bank of Baroda and Kotak Mahindra Bank?
Over 5 years at each loan provider's lowest published rate the monthly EMI is ₹10,722 at Bank of Baroda 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 Bank of Baroda and Kotak Mahindra Bank?
Bank of Baroda: Min age 21; max age 60 (salaried) / 65 (non-salaried) incl. tenure; FOIR 40%-75%; rate linked to CIBIL, no minimum stated. Kotak Mahindra Bank: not published. Each loan provider can ask for more documents once you apply.
Are Bank of Baroda and Kotak Mahindra Bank regulated by the RBI?
Yes. Bank of Baroda is a public sector 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 Bank of Baroda 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.