Kotak Mahindra Bank

Bank Name
Interest Rate Range
Processing Fee Range
Loan Amount
Tenure Range
Action

Rate of Interest

  • Floating Rate of Interest : 11.50 % to 13.50 % p.a.

Eligibility Criteria

  • Minimum 21 years of age and maximum 65 years
  • Loan period from 1 years to 7 years
  • Should be either salaried or self-employed and have regular source of income
  • Should have sufficient income to pay EMI on required loan
  • Applicant must be Indian Citizen, in case of NRI or person of Indian origin it should be properly documented

Fees and Charges

  • Processing  Fee - depends on type and category of borrower
  • Preclosure Charges – Rs 0
  • Part Payment charges- Rs 0
  •  No any other hidden charges

Documents Required

  • KYC- Pan Card, Adhar Card, ID Proof and Address proof
  • ITR with computation for 3 years with Income proof
  • Bank Statement
  • Photograph
  • 2 references

Value Additions

  • Doorstep services
  • E- approvals
  • Part payment allowed

Special Feature

  • No guarantor required
  • No pre-closure or part payment fees
  • Balance Transfer Allowed
  • Top up available

Overview about Kotak Mahindra Bank

Kotak Mahindra bank offers new car loan at lowest interest rate. Everyone can take car loan from Kotak Mahindra bank at attractive interest rates. Here kotak Mahindra provides flexible tenure options and quick processing of applications.Kotak Mahindra prime ltd. Offers the best financing solutions for all types of passenger vehicles.Kotak Mahindra bank is an Indian private sector bank. It’s headquartered in Mumbai, Maharashtra, India. It offers a wide range of banking products an financial services for corporate and retail customers

Your Eligibility depends on following


You should be minimum 21 years old

You should be maximum 65 years old

You should be salaried or self employed

You should have sufficient income to pay EMI on required loan

You can increase your eligibility by doing following

Minimum income required Rs.25,000 per month
EMIs of other loans loweryour eligibility
Pay off your credit card bills
Choose longer tenure loan up to 7 years

Rate of Interest and Other Charges for New Car Loan are following

Rate of Interest:-

Sno.

Loan Type

Interest Rate

1

New Car Loan(Floating)

11.50%  to 13.50%

2

New Car Loan(Base Rate)

9.50%

Existing Loan take over or New Loan

Here are some points that why you should choose Kotak Mahindra Bank for New Car Loan:

  • Kotak Mahindra provides Customer friendly pre and post sales service
  • Multiple loan schemes to suit different customer needs
  • Simple 7-step loan application procedure
  • Low interest rates
  • Flexible Repayment terms
  • Up To 90% Of Loan Amount Available

Features of Loan

Features and benefits of kotak mahindra New car loan:

  • In Kotak Mahindra there is a options for wide range of cars
  • Attractive interest rates
  • Age should be minimum 21 years
  • Speedy loan processing
  • There is Minimum employment stability of 1 year.
  • Minimum residence stability of 1 year.
  • Kotak Mahindra provides Tenure Up to 7 years
  • All Indian residents.
  • Minimum income of Rs. 15000 per month.

Documents Required for applying Car loan with HDFC Bank

  1. Age Proof (Any one from these)
  • PAN Card
  • Passport
  • Voter ID
  • Aadhaar Card
  • School or College Leaving Certificate.
  1. Identity Proof (Any one from these)
  • PAN Card
  • Passport/Voter ID
  • Aadhaar Card
  • Driving License
  1. Residence Proof (Any one from these)
  • Passport
  • Voter ID
  • Electricity Bill
  • Telephone Bill
  • Life Insurance Policy
  1. Signature Verification Proof
  • PAN Card
  • Passport
  • Aadhaar Card
  • Any Other Documents Supporting Signature Proof
  1. Bank Statement
  • Bank Statement of Last 3-6 Months
  1. Income Proof

                  For Salaried-

  • Salary Slip of Last 3-6 Months.
  • Form 16 of Last 2 years.

                  For Self Employed-

  • ITR of Last 3 Years Profit & Loss A/C Statement
  • Audited Balance Sheet for Last 3 Years