Kotak Mahindra Bank Ltd offers car loan of Kotak Mahindra Prime Ltd to its customers. These car loan offerings come with easy processing and flexible schemes. Kotak Mahindra Prime Ltd. is a subsidiary of Kotak Mahindra Bank Ltd.

Car Loan of Kotak Mahindra Bank Ltd has finance options for wide range of cars; attractive interest rates; tailored made finance schemes; speedy loan processing and tenure Upto 7 years.

Eligibility
o All Indian residents.
o Minimum income of Rs. 15000 per month.
o Minimum residence stability of 1 year.
o Minimum employment stability of 1 year.
o Age minimum 21 years.

Charges & Fees

Cheque Dishonour Charges per Cheque 750

Prepayment interest outstanding 5.21% + service tax

Issue of Duplicate copy of Agreement / Duplicate
NOC / NOC for Duplicate Registration Certificate 750

Issue of Duplicate Security Deposite Receipt per Receipt 250

Cancellation of Contract (other than foreclosure and
prepayment interest) at specific request of the
Borrower and agree by the Lender 2000

Delayed Payment / Late Payment Charges /
Compensation / Additional Finance Charges (Monthly) 3%

Collection Charges for non PDC cases (per cheque)
for non-payment on due date 500

PDC swap Charges 500 per swap

Repayment Schedule / Account Outstanding
Break up statement 250

LPG / CNG NOC 2000

Statement of Account 500

NOC for Interstate Transfer 1000

NOC for Commercial to personal use 2000

Dishonour charges per instance 750

NOC to convert from private to commercial 5000 (Subject to approval)


Kotak Mahindra Bank Car Loan Documentation