Kotak Mahindra BankVSState Bank of India
Kotak Mahindra Bank vs State Bank of India Personal Loan
Detailed side-by-side comparison — rates, eligibility, pros & cons. Find which is better for your profile.
Interest Rate
10.99–24%
10–15% ✓
Min CIBIL
685+
650+ ✓
Max Amount
₹35,00,000 ✓
₹20,00,000
Min Salary
₹30,000
₹25,000 ✓
Disbursal
24-48 hours
3-5 working days
Processing Fee
Up to 5% + taxes
1.5% (min ₹1,000, max ₹15,000) + GST
Prepayment
Nil
Nil after 12 EMIs
Type
BANK
BANK
Kotak Mahindra Bank wins on 1 features, State Bank of India wins on 3. But the best lender for you depends on your salary and CIBIL — not just the specs.
Kotak Mahindra Bank
✅No prepayment charges
✅Fully digital process
✅Competitive rates for good credit
❌Higher minimum salary (₹30,000)
❌Primarily for salaried only
State Bank of India
✅Lowest rates for govt employees
✅Accepts 650+ CIBIL
✅Long tenure up to 72 months
❌Slower disbursal (3-5 days)
❌Limited to salaried/govt employees
Frequently Asked Questions
Which is better — Kotak Mahindra Bank or State Bank of India for personal loan?
It depends on your profile. Kotak Mahindra Bank offers rates from 10.99% (needs CIBIL 685+), while State Bank of India starts at 10% (needs CIBIL 650+). GoCredit’s AI Loan Agent compares both and 50+ other lenders to find the best rate for your exact profile.
Kotak Mahindra Bank vs State Bank of India — which has a lower interest rate?
State Bank of India has the lower starting rate at 10%. However, your actual rate depends on CIBIL score and salary. Check your personalised rate on GoCredit.
What is the minimum CIBIL score for Kotak Mahindra Bank and State Bank of India?
Kotak Mahindra Bank requires 685+, State Bank of India requires 650+. If your score doesn’t meet either threshold, GoCredit’s AI matches you with lenders that accept your current profile.
Should I apply to Kotak Mahindra Bank or State Bank of India?
Instead of choosing one, use GoCredit’s AI Loan Agent to apply to both simultaneously along with 50+ other lenders. You get the best offer without multiple applications and hard enquiries.
Why Compare Just 2?
GoCredit's AI Loan Agent compares 100+ lenders simultaneously and finds the absolute best rate for your exact profile — salary, CIBIL, and loan amount. One click, all offers.
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Instant result — no signup, no CIBIL impact