Kotak Mahindra Bank Car Loan

Kotak Mahindra Car loanCar Loan @ 9.50%*

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Kotak Mahindra Bank Car Loan

What is Car Loan? Car Loan is a convenient scheme that provides finance to people for the purchasing of their dream car. Banks and NBFCs offer various Car Loan Schemes on Easy Interest Rates and Affordable EMIs. After availing a Car Loan, you can repay the loan amount in installments.  Why Kotak Mahindra Bank Car Loan? Are financial problems resisting your desires of buying a car? Press a brake on your out flowing thoughts. Industrial Development Bank of India is here with its best offer on Car Loan. It is well known for its attractive and reliable services. Get the Best IDBI Car Loan with Affordable Interest Rates & EMIs. Loannow will help you in availing the best Car loan, with instant and quick approval. Cherish your life with the ride of a fascinating car. Enjoy the incredible drive and make your life colorful. Features

  • Funding up to 95% of Car’s ex-showroom price.
  • Loan tenure up to 7 years.
  • Attractive Interest Rate @ 9.50%*
  • Easy and simple documentation.
  • Special Offer for IDBI salary account Customers.

Benefits

  • Flexible and Affordable EMIs.
  • Quick and Instant approval of Loan
  • Attractive deals from associated car dealers.
  • Easy and minimum Documentation.

Kotak Car loan Documents

Documentation required for Car Loan

List of Car Loan documents required

  • Age proof
  • ID proof
  • Application form
  • Photograph
  • Residence proof
  • Income proof
  • Bank statement
  • Signature verification proof
  • Pro-forma Invoice or Rate List

Post Sanction / Pre Disbursement Documentation

  • Loan Agreement duly signed along with RTO set
  • Standing Instruction (SI) Request / ECS Form / Post Date Cheques (PDCs). Security Cheques required for SI and ECS
  • Margin money receipt

Kotak Car Loan Eligibility

Eligibility for Car Loan

Eligibility Individuals as well as Business Concerns (Corporate or non-corporate).Minimum net monthly salary / pension / income – 20000/-. Income of spouse /Parent can be added.
Amount Provided For Individuals / Proprietorship Concerns: 25 times of the monthly net salary OR Rs.25 lacs (for one or more vehicles), whichever is lower. Income of parent(s) / spouse can be taken into account for determining loan amount. In such cases, the parent(s)/ spouse shall stand as additional guarantor.  For Business Concerns (Corporate or non-corporate): No ceiling on loan amount (for one or more vehicles).
Interest Rates New Car: 9.50% to 10.25% depending on the segment of vehicle and tenure selected (Floating)Pre-Owned Car: 13.50% to 15.00% depending on the segment of vehicle (Floating)