Car Loan FAQs

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.

Was this information helpful to you? Yes No

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/-

Was this information helpful to you? Yes No

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.

Was this information helpful to you? Yes No

How long will it take to process the loan?

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

Was this information helpful to you? Yes No

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 tenure. Conditions apply.

Was this information helpful to you? Yes No

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.

Was this information helpful to you? Yes No

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.

Was this information helpful to you? Yes No

Who can avail of KMPL new car loans?

Following can apply:

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

Was this information helpful to you? Yes No

Car Loan Faqs

Which cars can be financed?

How much finance can I avail of?

What are the tenure options?

How long will it take to process the loan?

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

Do I need a guarantor?

So how do I get a KMPL Car Loan?

Who can avail of KMPL new car loans?

Salaried Individuals

Self Employed