Margin Money Scheme from Kotak
Kotak Mahindra Prime Limited (KMPL) finances your car dreams with up to 90% of the ex-showroom price on your new car. Available from a minimum loan amount of Rs. 75,000 and flexible repayment tenures, you can avail of these loans on most passenger cars and multi-utility vehicles available to you.
Enjoy flexibility even in payment of the excess of the new car’s invoice value over the loan amount under this scheme.
Features of Margin Money Scheme
Pay Loan Margin money directly or through us
Now pay your margin money to the dealer directly or make the payment to Kotak Mahindra Prime Loans, for us to send the entire invoice value including the margin money directly to the dealer.
Make the loan payments with convenient EMIs
Pay off your loan with a choice of equated payments across 12 to 60 months per your ease and convenience.
You can also choose from Other Schemes
Step Up Scheme | Low EMI, Balloon Scheme | Advance EMI Scheme
Who is eligible for a new car loan
- Salaried individuals between 21 to 58 years (at the end of the tenure)
- Self-employed individuals between 21 to 65 years (at the end of the tenure)
- Partnership Firms
- Public & Private Ltd. companies
- Hindu Undivided Families and Trusts
5 steps to Getting a New Car
- 1.Loan Scheme Selection
Choose a Loan Scheme. Contact us for more information at:
1. Email at marketing@kotak.com or apply online
2. Visit us or call up the branch
3. SMS CF < followed by name of your city> at 5675788 - 2.Documentation
Collect the required documents with your loan proposal. See list of documents.
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3.Credit Approval
Provide information for credit evaluation to the field investigation officer.
- 4.Margin Money Payment
Pay off margin money through a pay order or cheque.
Sign agreement and provide post dated cheques or sign ECS Mandate. - 5.Car Delivery
You can now drive your new car home after completion of above formalities.
Loan Repayment
Loan Repayment
You can start repaying your loan once you receive the Repayment Schedule with a copy of the Agreement at your correspondence address within 15 days of the loan amount being disbursed for your new car.
Disclaimer: Loan disbursement will be subject to complete documentation and credit discretion of Kotak Mahindra Prime Ltd.