Kotak Mahindra Car Loan Interest Rates, EMI, Eligibility

Check Kotak Mahindra Car Loan Interest Rates, Eligibility, Documents, EMI Calculator, Customer Care. Kotak Bank Car loan  helps to get a step more closer to your dream car. Apply for a car loan and get upto 100% funding at attractive interest rates.

Kotak Mahindra Car Loan Quick Apply

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Disclaimer: We do not provide Car Loans but help you to connect with banks to get best deals.
All loans are on sole discretion on the respective banks

Kotak Mahindra Car Loan Interest Rates

Interest Rates 8.75% onwards
Loan Tenure 12 months to 60 months
Prepayment interest on Principal outstanding 5.21% + taxes
LPG / CNG NOC Rs. 2000
Statement of Account Rs. 500

Kotak Mahindra Car Loan Eligibility

Eligibility For Salaried Individual Eligibility For Self Employed
Applicant Should be Indian Residents Applicant Should be Indian Residents
Minimum age of Applicant: 21 years Minimum age of Applicant: 21 years
Maximum age of Applicant at loan maturity: 60 years Maximum age of Applicant at loan maturity: 65 years
Minimum Income of Rs 15000 per month Minimum employment: At least 1 year in business

Document Required For Kotak Mahindra Car Loan

  1. KMPL Application form duly filled.
  2. Previous Salary Slip showing statutory deductions
  3. Form 16 / Income Tax Returns
  4. Residence Proof (copy of utility bill/ Passport /Voter’s ID/ Rent agreement copy etc)
  5. Verification from your Banker / Voters ID / IT PAN card / IT Return / Driving License/ Passport
  6. Profit & Loss A/C & B/S for the previous 2 years certified by CA
  7. Copies of Income Tax Returns for the last two years
  8. Partnership Deed / Trust Deed
  9. Letter of Authority
  10. MOA and Board Resolution authorising one director to execute the agreement.

Kotak Mahindra New Car Finance Schemes

Kotak Bank offer loans up to 90% of the ex-showroom price and flexible repayment tenors as per your convenience.

Margin Money Scheme

  • Kotak Bank provide finance for acquisition of new car up to 90% of the invoice value for certain models.
  • The customer need to pay the margin money (invoice value minus the finance amount) to the dealer directly.
  • Loan amount can be repaid up to 60 EMIs.

Step Up Scheme

  • Increase in EMI after every year, six months or quarter (depending upon your needs).
  • Best for luxury car experience.
  • You can make payments in line with your growing income.

Low EMI, Balloon Scheme

  • 10%-25% of the cost of the car to be paid as last EMI.
  • Reduced monthly EMI for the repayment period.
  • Best for dispose off their vehicle at the end of the tenure and are looking at affordable EMIs during the tenure.

Advance EMI Scheme

  • Make the payments of a few monthly instalments upfront.
  • Balance payable through EMIs.
  • Repay your loan much faster with the advance instalments.

Kotak Mahindra Used Car Finance Schemes

Owning a used car is easy and reliable experience with KMPL Used Car Finance. We offer up to 90% funding of the car value.
Pre-approved loan (Low ticket size loans)

  • Loan amount up to Rs. 1.5 Lacs.
  • Minimum documentation.

Preferred segment loan

  • Loan amount between Rs. 1.5 – Rs. 15 Lacs.
  • Hassle-free processing.
  • Funding up to 90% with maximum tenure of 5 Years.

Approve you own loan (For salaried employee)

  • Monthly Installments maximum 40% of net salary.
  • Eligible loan amount up to 2 times of your annual salary.

Take over of your existing car loan and generate cash

It’s a loan take over from the bank where the foreclosure amount is lesser than what KMPL actually funds on the asset. That’s how you generate cash and you can get more than 100% finance.

Kotak Mahindra Bank Customer Care

  1. 1800 209 5732 (Service)
  2. 1800 419 0090 (Sales)