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| COMPARE : CAR LOANS |
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| Kotak Mahindra Bank Car Loan |
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| Introduction |
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| Kotak bank has designed different schemes - Margin Money, Step up Scheme, low EMI balloon scheme and Advance EMI scheme to suit your individual requirements. Bank offers up to 90% of the ex-showroom price with flexible repayment option. Bank from time to time gets into tie-ups with various manufacturers and brings in special schemes for its customers. |
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| Highlights |
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New Car |
Used Car |
| Loan Type |
Term Loan |
Term Loan |
| Ex-Showroom/On Road |
Ex-Showroom |
Ex-Showroom |
| Loan Amount |
Minimum loan amount is 75000.
Maximum allowable loan amount is 90% of the ex-showroom price.
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Maximum loan amount is 90% of car value. Loan amount between Rs. 1.5 – Rs. 15 Lacs
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| Tenure |
Min. - 12 months.
Max. - 60 months.
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Min. - 12 months.
Max. - 60 months.
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| Interest Rate |
11.5 % |
13.5 % |
| Time to Process Loan |
2 days |
3 days |
| Preferred Manufacturers |
Chevorlet, Maruti |
Chevorlet, FIAT, Ford, GENERAL MOTORS INDIA, HINDUSTAN MOTORS, Honda, Hyundai, Mahindra, Maruti, Mercedes-Benz, Mitsubishi, Nissan, Reva, SAN Engineering, Skoda, Tata Motors, Toyota |
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 Fees & charges
Fees & charges
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New Car |
Used Car |
| Stamp Duty |
As per actuals |
As Per Actuals |
| Loan Cancellation/Rebooking Charges |
3000 Rs |
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| Statement Charges |
250 Rs/Statement |
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| Legal, Repossession and Incidental Charges |
As Per Actuals |
As Per Actuals |
| Duplicate No Due Certificate / NOC Charges |
750 Rs |
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Eligibility Criteria
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Eligibility Criteria
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Salaried
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Salaried:
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| Income |
Rs 100000 |
| Age |
Min.: 21 Yrs. Max.: 58 Yrs. |
| Current Employment Years |
1 Yrs. |
| Total Employment Years |
2 Yrs. |
| Documents Required: |
| ID Proof |
Yes |
| Residence Proof |
Yes |
| Income Proof |
Yes |
| Telephone |
No |
| Photograph |
Yes |
| Bank Statement |
Yes |
| Signature Proof |
Yes |
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Self Employed
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Self Employed:
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| Income |
Rs 6000 |
| Age |
Min.: 21 Yrs. Max.: 65 Yrs. |
| Total Employment Years |
2 Yrs. |
| Documents Required: |
| ID Proof |
Yes |
| Residence Proof |
Yes |
| Income Proof |
Yes |
| Telephone |
No |
| Photograph |
Yes |
| Bank Statement |
Yes |
| Signature Proof |
Yes |
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