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New Car Finance
Your dreams can be realised here. Get that new car you always wanted with our new car loans. We offer loans up to 100% of the on-road price and flexible repayment tenor options ranging from 12-84 months*
Eligibility
Salaried Individuals
- Minimum age of Applicant: 21 years
- Maximum age of Applicant at loan maturity: 60 years
- Minimum Income of Rs 15000 per month
Self Employed
- Minimum age of Applicant: 21 years
- Maximum age of Applicant at loan maturity: 65 years
- Minimum employment: At least 1 year in business
Document
| Documents | Salaried Concerns | Self Employed Firm | Proprietary | Partnership | Companies |
|---|---|---|---|---|---|
| KMPL App. Form duly filled by you | Y | Y | Y | Y | Y |
| Latest Salary Slip showing statutory deductions | Y | - | - | - | - |
| Form 16 / IT Returns | Y | - | - | - | - |
| Proof of Residence (copy of electricity/ telephone bill/ Passport /Voter's ID/ Lease deed/ Rent agreement copy/Property Registration Document in the name of the Customer ) | Y | Y | Y | Y | Y |
| Signature | Y | Y | Y | Y | Y |
| Verification from your Banker / Voters ID / IT PAN card / IT Return / Driving License/ Passport | |||||
| P&L A/C and B/S for the last 2 years certified by CA | - | Y | Y | Y | Y |
| Copies of Income Tax Returns for the last two years | - | Y | Y | Y | Y |
| Partnership Deed / Trust Deed | - | - | - | Y | - |
| Letter of Authority | - | - | - | Y | - |
| MOA and Board Resolution authorising one director to execute the agreement. | - | - | - | - | Y |
| Photograph (one signed by the customer) | Y | Y | Y | - | - |
Apply Now
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Apply through SMS
SMS <NEWCAR> to 5676788
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Request a call back
Click here Click here to apply and get a call from us.
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Email us
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Call Us
1800 209 9494
FAQ's Expand All
- Who can avail of KMPL new car loans?
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- Salaried individuals in the age group of 21 to 58 years (at the end of the tenure) - Self-employed individuals in the age group of 21 to 65 years (at the end of the tenure) - Partnership Firms and LLPs. - Public and Private Ltd. companies - HUFs and Trusts
- Which cars can be financed?
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Kotak Mahindra Prime Limited finances most passenger cars and multi-utility vehicles manufactured by India's leading automobile companies. We also finance imported cars subject to fulfillment of certain terms and conditions.
- How much finance can I avail of?
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You can borrow up to 90% of the car value. The minimum loan amount is Rs.75,000/-
- What are the tenure options?
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The choice is yours. You can choose any repayment option from 12 to 84 months all specially designed to suit your requirements.
- How long will it take to process the loan?
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Within 48 hours of completing documentation. Credit is at the sole discretion of KMPL
- Do I have the option of pre-paying the entire loan amount?
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Yes. One can pre-pay the loan any time after 6 months of availing of the loan. You have to pay a small prepayment fee on the outstanding loan amount. We also offer the option of refinance on the same vehicle after completion of a particular tenor. Conditions apply.
- Do I need a guarantor?
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Generally no. But if your income / age does not meet our credit criteria, then you may be required to have a guarantor to stand surety for your loan.
- So how do I get a KMPL Car Loan?
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Just fill the Online Application Form and our representative will get in touch with you shortly.
GST