Here are a few factors

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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

Right Document : Easy Process

Required Documents to Apply for KOTAK Bank New Car Loan

Salaried Person

  • KYC of applicant
  • Last 3 Month Salary Slip
  • Last 12 month Bank Statement of applicant
  • Last 3 year ITR with computation of income of applicant or Last 2 Year Form 16 of applicant
  • 26AS of last 2 year of applicant
  • Quotation of Car
  • Latest Utility Bill of co-borrower if Owned premises else rent agreement if rentedSanction letter of all running loan
  • Latest utility Bill if owned residence or rent agreement if rented

Self Employed

  • KYC of applicant & Co-Applicant
  • KYC of Co-BorrowerLast 3 year ITR with computation of income of applicant & co-applicant
  • Last 3 year audited balance sheet of applicant
  • Last 3 year Tax audit report of applicant
  • Last 12 month Bank Statement of applicant & co-applicant
  • Copy of Last 12 month GST return if applicable
  • Quotation of Car
  • Sanction letter of all running loan
  • Latest utility Bill of residence if owned or rent agreement if rented
  • Latest utility Bill of Office if owned or rent agreement if rented
  • 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.

01
Visit Our Website

For the first step, you will have to visit our website to explore the loan options that fit your needs.

02
Select and Apply

Once you shortlist the loan you have been looking for, apply for it, and proceed with the further process.

03
Submit Your Document

One of the most important steps. Now you will have to submit all the required documents digitally.

04
Enjoy Your Financial Freedom!

Once your application is approved based on your eligibility, you will receive your loan amount shortly.