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# Kotak Bank Car Loan EMI Calculator Apr 2017

Last Updated 28th Apr 2017

## Kotak Bank Car Loan Calculator

Lowest EMI on Kotak Bank Car Loan - Rs. 2,199 per lakh

Loan Amount 2 Years 3 Years 5 Years
Rs. 100,000 Rs. 4,684 Rs. 3,298 Rs. 2,199
Rs. 300,000 Rs. 14,052 Rs. 9,893 Rs. 6,598
Rs. 500,000 Rs. 23,420 Rs. 16,488 Rs. 10,996
Rs. 1,000,000 Rs. 46,840 Rs. 32,976 Rs. 21,993
Car Loan Calculator
Rs.

### Factors affecting Kotak Bank Car Loan EMI

• Borrower age should be between 21 years to maximum 65 years
• Maximum car loan amount offered by Kotak Bank is up to 90.00% of ex-showroom price
• Interest rates starts @ 11.50% depending upon down payment, net income and other factors
• Processing fee in Kotak Bank may be 0.00% of loan amount Min Rs. 3,300 Max Rs. 4,750

### Kotak Bank Car Loan EMI

• Car Loan EMI (or equated monthly installment) is a fixed amount of money paid by you to Kotak Bank against the loan taken. This is towards repayment of your loan to the bank. Every month, it is due on a fixed day of the month till your loan is fully paid back.
• With Kotak Bank offering car Loans with loan tenure upto 60 years, the loan EMI can be as low as Rs. 2 per lakh, to make it more affordable and convenient to meet your car needs. Rate of interest offered by Kotak Bank are as low as 11.50%.
• This EMI consists of both interest payment and principal repayment. Though the EMI amount will remain constant, the principal component keeps increasing and on the other hand the interest component keeps reducing.

### Kotak Bank Car Loan Calculator Formula

Here is an illustration of how Kotak Bank Car Loan EMI is calculated:
In above formula,
P = Loan amount. This should be 90.00% of ex-showroom price
n = tenure in month. For Kotak Bank, this can be 60 months

### Car Loan EMI Calculator Kotak Bank - How it works?

Kotak Bank Car loan calculator calculates EMI considering a combination of loan amount, interest rate and loan tenure.

• Kotak Bank Car loan calculator considers “reducing balance basis” and assumes that payment of EMI is made in arrears (means interest is charged for the month preceding the EMI payment date) and not in advance.

### Car Loan EMI – EMI changes in case of prepayment

In case you prepay your car loan, the outstanding balance on your car loan reduces. Kotak Bank gives you two options:

• Reduce your loan tenure and keep your car EMI same
• Reduce the amount of EMI and keep your loan tenure same

It is better to keep the EMI constant and reduce the loan tenure as you pay less interest to the Kotak Bank in this option.

#### Frequently Asked Questions on Kotak Bank EMI Calculator

What is the lowest EMI per lakh offered by Kotak Bank on Car loan?

Kotak Bank offers car loan at 11.50% interest rate and hence lowest EMI on per lakh loan amount is Rs. 2,199.

Can I prepay my Kotak Bank car loan?

Kotak Bank offers you an option of prepayment at Not allowed for 6 months; 5.21% charges after 6 months charges.

Is there any processing charge on Car loan from Kotak Bank?

Car Loan from Kotak Bank charges a processing fee of 0.00% of loan amount Min Rs. 3,300 Max Rs. 4,750.

#### Kotak Bank Car Loan Calculator Customer Care Number, Email, Application Status, Branches

City Customer Care Number
Agra 011-66006022
Ahmedabad 079-66006022
Ambala 080-66006022
Anand 079-66006022
Aurangabad 022-66006022
Bangalore 080-66006022
Bhilai 1800-102-6022
Bhilwara 1800-102-6022
Bhiwadi 022-66006022
Bhopal 011-66006022
Bhubaneswar Cuttack 1800-102-6022
Bikaner 1800-102-6022
Chandigarh 0161-65006022
Chennai 044-66006022
Cochin 0422 66006022
Coimbatore 0422-66006022
Dehradun 1800-102-6022
Delhi 011-66006022
Durg 1800-102-6022
Faridabad 080-66006022
Gandhinagar 079-66006022
Ghaziabad 011-66006022
Goa 022-66006022
Greater Noida 011-66006022
Gurgaon 011-66006022
Guwahati 1800-102-6022
Gwalior 011-66006022
Hyderabad 040-66006022
Indore 011-66006022
Jabalpur 011-66006022
Jaipur 0141-6536022
Jalandhar 0161-65006022
Jodhpur 1800-102-6022
Kanpur 011-66006022
Karnal 080-66006022
Kolhapur 022-66006022
Kolkata 033-65506022
Kota 1800-102-6022
Kozhikode 1800-102-6022
Lucknow 011-66006022
Ludhiana 0161-65006022
Madurai 044-66006022
Meerut 011-66006022
Mehsana 079-66006022
Mohali Sas Nagar 0161-65006022
Mumbai 022-66006022
Mussoorie 1800-102-6022
Nagpur 022-66006022
Nashik 022-66006022
Noida 011-66006022
Noida Extn 011-66006022
Panipat 080-66006022
Patna 033-65506022
Pondicherry 1800-102-6022
Pune 020-65216022
Raipur 1800-102-6022
Rajkot 0281-66006022
Ranchi 1800-102-6022
Rohtak 080-66006022
Roorkee 1800-102-6022
Salem 044-66006022
Shimla 1800-102-6022
Sonepat 080-66006022
Surat 0261-6600602
Trichy 044-66006022
Udaipur 1800-102-6022
Vadodara 0265-6646022
Varanasi 011-66006022
Vijaywada 040-66006022
Vizag 040-66006022

Kotak Car Loan News - Apr 2017
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