Kotak Car Loan Rate, Eligibility Calculator, Apply Online

Kotak Bank Car Loan Offer Feb 2017

Last Updated 23rd Feb 2017
Features and Eligibility Kotak Bank New Car Loan Scheme Kotak Bank Used Car Loan Scheme
Interest Rates 11.50% Fixed Check Special Offer 17.00% Fixed
Maximum Loan Amount Eligibility 90.00% of ex-showroom price 90.00% of market value
Maximum Loan Tenure (years) 5 years 5 years
Lowest EMI per Rs. One Lakh Loan Amount (Rs.) Rs. 2,199 Rs. 2,199
Processing Fee 0.00% Min Rs. 3300 Max Rs. 4750 0.00% Min Rs. 3300 Max Rs. 4750
Prepayment Charges Not allowed for 6 months; 5.21% charges after 6 months Not allowed for 6 months; 5.21% charges after 6 months
Interest Calculation Monthly reducing balance Monthly reducing balance
Age (years) Between 21 years and 65 years Between 21 years and 65 years
Apply Car Loan Online @9.25%*
 Salaried   Self Employed - Professional   Self Employed - Business 





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Eligibility Condition for Kotak Bank Car Loan

Kotak Bank New Car Loan Scheme Kotak Bank Used Car Loan Scheme
Minimum Net Annual Income (Rs. lakh)
--Salaried 1.0 1.0
--Self employed professionals 0.6 0.6
--Self employed businessmen 0.6 0.6
  • Car loan EMI calculation varies from bank to bank depending upon the method of calculation.
  • The standard convention should be to use the EMI in arrears method on reducing balance basis – whereby you pay interest on the car loan amount outstanding on a reducing basis at or after the end of the month.
  • Simply key in the loan amount, rate of interest and car loan tenure here and check the EMI amount using the car loan EMI calculator here. In case the EMI amount displayed is different from the one advised to you by the agent, you must check the calculation basis with your car loan agent.

  • New Car Loan Schemes of All Banks

  • Used Car Loan Schemes of All Banks

Frequently Asked Questions on Kotak Car Loan

How much interest is charged by Kotak on car loan?

Kotak offers an interest of 11.50% to 13.50% on car loan.

What is the lowest EMI per lakh on Kotak car loan?

If you apply for a car loan from Kotak, your lowest EMI per lakh will be Rs. 2,199.

What is the maximum tenure of Kotak car loan?

You can repay your car loan from Kotak in a flexible period of maximum 7 years.

How much car loan I can borrow from Kotak?

Kotak offers you 90.00% of of ex-showroom price of car as loan.

How much processing fee is charged by Kotak on car loan?

Kotak charge a processing fee of 0.00% with applicable service tax.

Is age an eligibility factor to get car loan from Kotak?

Yes, age is an important eligibility factor to get Kotak car loan as you should be at least 21 years old at loan approval time and 65 years old at loan maturity time.

Are there any prepayment charges on Kotak car loan?

You can take car loan from Kotak with Not allowed for 6 months; 5.21% charges after 6 months prepayment charges.

Can I add my spouse's income while applying for car loan from Kotak?

You can combine your income with the income of your spouse to increase your loan eligibility and to get higher loan amount.
Kotak Car Loan Calculator News - Feb 2017
04th Feb 17 Kotak Mahindra Bank cuts its MCLR by up to 15 basis points
Kotak Mahindra Bank has reduced its overnight and one month marginal cost of lending rates to 8.05 and 8.10 percent respectively as compared to 8.20 and 8.25 percent earlier. The revised six months and one year MCLR now stands at 8.50 and 8.85 percent. The new rates are effective from 1st February, 2017.
27th Jan 17 Kotak Mahindra Bank registers a growth of 39 percent in its net profit for third quarter of FY17
Kotak Mahindra Bank has reported a growth of 39 percent in its net profit to Rs. 880 crore in third quarter of FY17 as compared to Rs. 635 crore for the corresponding period a year ago. The growth in profit is contributed by a healthy growth in net interest income of the bank and reached to Rs. 1,267 crore during the quarter as compared to Rs. 1,766 crore a year ago.
24th Jan 17 Kotak Mahindra Bank is likely to register a strong growth in net profit during third quarter of FY 17
Analysts at CNBC have forecasted a strong growth in net profit of Kotak Mahindra Bank during the third quarter of FY 17. As per the polls, the bank is likely to see an increase of 27 percent in its net profit to Rs. 808 crore on a year on year basis. Kotak Mahindra Bank is scheduled to announce its Q3 results on 25th January, 2017.
17th Jan 17 Kotak Mahindra Bank acquires 19.9 percent stake in Airtel M Commerce Services
Kotak Mahindra Bank Limited has bought a 19.9 percent stake in Airtel M Commerce Services Limited for Rs. 98.38 crore to set up payments bank. AMSL provides electronic payment services to the customers under the Airtel Money brand name.
13th Jan 17 Kotak Mahindra Bank reduces savings account deposit rates
Kotak Mahindra Bank has reduced its saving account deposit rates for deposits above Rs. 5 crores to 5.5 percent as compared to 6 percent earlier. The revised saving account deposit rate for deposits up to Rs. 1 lakh now stands at 5 percent. The rates are effective from 6th January, 2017.
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