Thus, individuals with good credit scores are will find it relatively easy to borrow a higher loan amount. This is because your credit score serves as an indicator of your likelihood to repay loan installments/EMIs within specified due dates. Credit Score: Individuals who have a high credit score of over 700 will be eligible to borrow a higher loan amount.In the case of Kotak Mahindra Bank’s personal loan, applicants between the ages of 21 years and 58 years can borrow loans. Age: Lenders are more likely to offer higher loan amounts to young applicants since they can opt for a longer tenure to repay the loan.Individuals who have a stable work experience are more likely to enjoy a higher eligibility since it is quite likely that the individual will continue to earn a steady income, thus being able to repay their EMIs as per the lender’s schedule. Employment Stability: As indicated above, individuals who wish to apply for a personal loan from Kotak Mahindra Bank are required to a work experience of at least 1 year.Must have resided in the same city for at least 1 yearįactors Affecting Kotak Mahindra Bank Personal Loan Eligibility Employees of MNC, public limited companies, and private firms
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