Which cars can be financed?

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?

You can borrow up to 90% of the car value. The minimum loan amount is Rs. 75,000/-

What are the tenure options?

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?

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?

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 tenure. Conditions apply.

Car Loan Documents Required to Finance your Vehicle

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Documents	Salaried Concerns	Self Employed Firm	Proprietary	Partnership	Companies
KMPL App. Form duly filled by you	Yes	Yes	Yes	Yes	Yes
Latest Salary Slip showing statutory deductions	Yes	No	No	No	No
Form 16 / IT Returns	Yes	No	No	No	No
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)	Yes	Yes	Yes	Yes	Yes
Signature Verification from your Banker / Voters ID / IT PAN card / IT Return / Driving License / Passport	Yes	Yes	Yes	Yes	Yes
Computation of Income for the last 2 years certified by CA	No	Yes	Yes	Yes	Yes
P&L A / C and B / S for the last 2 years certified by CA	No	Yes	Yes	Yes	Yes
Copies of Income Tax Returns for the last two years	No	Yes	Yes	Yes	Yes
Partnership Deed / Trust Deed	No	No	No	Yes	No
Letter of Authority	No	No	No	Yes	No
MOA and Board Resolution authorising one director to execute the agreement.	No	No	No	Yes	Yes
Photograph (one signed by the customer)	Yes	Yes	Yes	No	No

Car Loan Required Documents

Be ready with following documents while applying for car loan

Ready to take the next step?

Frequently Asked Questions

Which cars can be financed?

How much finance can I avail of?

What are the tenure options?

How long will it take to process the loan?

Do I have the option of pre-paying the entire loan amount?

Related Products

Motor Insurance

Personal Loan

FASTag

Car Loan Required Documents

Be ready with following documents while applying for car loan

Ready to take the next step?

Frequently Asked Questions

Which cars can be financed?

How much finance can I avail of?

What are the tenure options?

How long will it take to process the loan?

Do I have the option of pre-paying the entire loan amount?

Related Products

Motor Insurance

Personal Loan

FASTag

Understanding the key differences between a loan and an overdraft