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KOTAK PRIME NEW CAR LOAN
KOTAK PRIME NEW CAR LOAN
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KOTAK PRIME NEW CAR LOAN
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KOTAK PRIME NEW CAR LOANHere are a few factors
| Location | 50Km from Branch |
| CIBIL Score | 700+ |
| Loan Amount & Tenure | 1
Lac to No Limit (12 month to 84 month) |
| Loan to Value(LTV) | 90% of OnRoad Price or 100% of Ex-Showroom Value |
| Type of Funded Vehicle | New Car & Commercial Car |
| Rate of Interest & Type | 9.30% to 12% (Fixed) |
| Processing Fees | 3500-6500 |
| TAT | Sanction-2 Days Disbursement-3 Days |
| Foreclosure Charges | 5.21%, after 6 month |
| Applicant | Any Salaried or Self Employed Person |
| Applicant Age | Salaried: 25 year to 60 Year , Self Employed -25 year to 65 year |
| Applicant Minimum Income | 1. Salaried having monthly net
Salary>25K 2. Self Employed Person having ITR>3 Lac |
| Business Vintage for Self Employed Applicant | 2 Year |
| Minimum Job Experience for Salaried Applicant | 1 Year |
| Whether Co-Applicant Mandatory | Yes, if applicant age is <25 year or >65 year |
| Part Payment Allowed | Yes, after 6 month |
| Product | 1. Salaried- 30 Time of gross
monthly Salary 2. Self Employed-4 time of average annual income of last 2 year 3. Banking Program-Upto 20 Lac (ABB should be 1.50 time of EMI) |
| Negative Profile | Share Traders, Liquor Business |
| USP | 1. Funding to Cash Salary 2. Funding without income documents |
KOTAK PRIME NEW CAR LOAN EMI Calculator
Interest Type
Loan Amount
Interest Rate
Loan Tenure
| Loan Amount | ₹100,000 |
| Interest % | 9 % |
| Tenure (months) | 12 |
| Emi (monthly) | ₹ 8,745 |
| Total Interest | ₹ 4,942 |
| Loan Amount + Interest | ₹ 104,942 |
| Year | Total Principal ( A ) | Total Interest ( B ) | Balance ( A + B) | Total Payment | Loan Paid Till Date (%) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ₹ 24,165 | ₹ 2,070 | ₹ 26,235 | ₹ 75,835 | 24.16 % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ₹ 75,832 | ₹ 2,873 | ₹ 78,705 | ₹ 3 | 100.00 % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Required Documents to Apply for KOTAK Bank New Car Loan
Salaried Person
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KYC of applicant
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Last 3 Month Salary Slip
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Last 12 month Bank Statement of applicant
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Last 3 year ITR with computation of income of applicant or Last 2 Year Form 16 of applicant
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26AS of last 2 year of applicant
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Quotation of Car
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Latest Utility Bill of co-borrower if Owned premises else rent agreement if rentedSanction letter of all running loan
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Latest utility Bill if owned residence or rent agreement if rented
Self Employed
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KYC of applicant & Co-Applicant
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KYC of Co-BorrowerLast 3 year ITR with computation of income of applicant & co-applicant
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Last 3 year audited balance sheet of applicant
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Last 3 year Tax audit report of applicant
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Last 12 month Bank Statement of applicant & co-applicant
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Copy of Last 12 month GST return if applicable
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Quotation of Car
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Sanction letter of all running loan
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Latest utility Bill of residence if owned or rent agreement if rented
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Latest utility Bill of Office if owned or rent agreement if rented
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List of Directors & Shareholders, if applicant if Company or List of Partners if applicant is Partnership firm/LLP
About Kotak Prime New Car Loan
With the ease of transportation and comfort that cars provide in modern life, owning one has practically become a requirement. With the Kotak Mahindra Car Loan, you may make your dream of buying a car a reality with minimal effort.
They offer new and used car loans, all of which are customized to your specific needs through flexible offerings. More importantly, because of their accessible repayment alternatives, simple processing, and adjustable rates of interest, it may be beneficial for you to turn the car of your dreams into a reality.
A car loan will take you one step closer to your dream car. Take a vehicle loan that provides up to 100% financing at low-interest rates to realise your dream of bringing home the car of your dreams.
Save Your Time with a Simple Loan Process
Visit Our Website
For the first step, you will have to visit our website to explore the loan options that fit your needs.
Select and Apply
Once you shortlist the loan you have been looking for, apply for it, and proceed with the further process.
Submit Your Document
One of the most important steps. Now you will have to submit all the required documents digitally.
Enjoy Your Financial Freedom!
Once your application is approved based on your eligibility, you will receive your loan amount shortly.
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