Car Loans

1800 419 0090

(9.30AM to 6.30PM IST)

Kotak Mahindra Bank Ltd offers car loan of Kotak Mahindra Prime Ltd to its customers. These car loan offerings come with easy processing and flexible schemes.

  1. Finance options for wide range of cars
  2. Attractive interest rates
  3. Tailored made finance schemes
  4. Speedy loan processing
  5. Tenure Upto 7 years

Disclaimers:

Kotak Mahindra Bank Ltd offers car loan of Kotak Mahindra Prime Ltd to its customers. These car loan offerings come with easy processing and flexible schemes. Kotak Mahindra Prime Ltd. is a subsidiary of Kotak Mahindra Bank Ltd. Loan available at select locations. Credit at sole discretion of Kotak Mahindra Prime Ltd. and subject to guidelines issued by RBI from time to time. Conditions apply.

 
  • All Indian residents.
  • Minimum income of Rs. 15000 per month.
  • Minimum residence stability of 1 year.
  • Minimum employment stability of 1 year.
  • Age minimum 21 years.

DocumentsSalaried ConcernsSelf Employed FirmProprietaryPartnershipCompanies
KMPL App. Form duly filled by you     
Latest Salary Slip showing statutory deductions     
Form 16 / IT Returns     
Proof of Residence
(copy of electricity / telephone bill / Passport / Voter's ID / Lease deed / Rent agreement copy / Property Registration Document in the name of the Customer)
     
Signature
Verification from your Banker / Voters ID / IT PAN card / IT Return / Driving License / Passport
     
Computation of Income for the last 2 years certified by CA     
P&L A / C and B / S for the last 2 years certified by CA     
Copies of Income Tax Returns for the last two years     
Partnership Deed / Trust Deed     
Letter of Authority     
MOA and Board Resolution authorising one director to execute the agreement.     
Photograph
(one signed by the customer)
     

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Who can avail of KMPL new car loans?

  • Salaried individuals in the age group of 21 to 58 years (at the end of the tenure)
  • Self-employed individuals in the age group of 21 to 65 years (at the end of the tenure)
  • Partnership Firms and LLPs.
  • Public & Private Ltd. companies
  • HUFs and Trusts
  • Free Net Banking, Mobile Banking and Phone Banking

Salaried Individuals

Eligibility Criteria:

  • Minimum age of Applicant: 21 years
  • Maximum age of Applicant at loan maturity: 58 years
  • Minimum Income of Rs 15000 per month
  • Minimum employment of 12 months

Documents required:

  • Proof of Identity:- Passport copy, PAN Card, Voters Id car, driving licence( Laminated, Recent, Legible)
  • Income Proof: Latest salary slip with Form 16.
  • Address Proof: Ration card/Driving licence/Voters card/passport copy/telephone bill/ electricity bill/Life insurance policy PAN Card
  • Salary Bank Statement

Self Employed

Eligibility Criteria:

  • Minimum age of Applicant: 21 years
  • Maximum age of Applicant at loan maturity: 65 years
  • Minimum employment: At least 1 year in business

Documents required:

  • Proof of Identity: Passport copy, PAN Card, Voters Id car, driving licence(Recent, Legible)
  • Income Proof: Income Tax Returns of 2 previous financial years
  • Address Proof: Ration card/Driving licence/Voters card/passport copy/telephone bill/electricity bill/Life insurance policy PAN Card
  • Business Bank Statement

Which cars can be financed?

Kotak Mahindra Prime Limited finances most passenger cars and multi-utility vehicles manufactured by India's leading automobile companies. We also finance imported cars subject to fulfillment of certain terms and conditions.

How much finance can I avail of?

You can borrow up to 90% of the car value. The minimum loan amount is Rs.75,000/-

What are the tenure options?

The choice is yours. You can choose any repayment option from 12 to 84 months all specially designed to suit your requirements.

How long will it take to process the loan?

Within 48 hours of completing documentation. Credit is at the sole discretion of KMPL

Do I have the option of pre-paying the entire loan amount?

Yes. One can pre-pay the loan any time after 6 months of availing of the loan. You have to pay a small prepayment fee on the outstanding loan amount. We also offer the option of refinance on the same vehicle after completion of a particular tenor. Conditions apply.

Do I need a guarantor?

Generally no. But if your income / age does not meet our credit criteria, then you may be required to have a guarantor to stand surety for your loan.

So how do I get a KMPL Car Loan?

Just fill the Online Application Form and our representative will get in touch with you shortly

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