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    Kotak Mahindra Bank Car Loan EMI Calculator

    Offering help to those wishing to avail a car loan, the Kotak Mahindra Bank Car Loan EMI Calculator enables customers to make accurate EMI calculations. With Kotak Mahindra Bank Car Loan EMI Calculator, customers will be certain of how much a car loan would cost every month and plan their finances well in advance. On the BankBazaar website, customers can also check their eligibility for a car loan.

    How to use BankBazaar Kotak Mahindra Bank EMI Calculator to understand your car loan repayment

    To get EMI results, all that the customer has to do is enter the components of the car loan - loan amount, tenure, interest rate, processing fee and prepayment charges (if any). Once the EMI calculation has been made, the BankBazaar website displays the amortisation table. The amortisation table graphically represents the loan breakup and its progress.

    Calculate your Car Loan EMI

    Kotak Mahindra Bank EMI Calculator – How does it work?

    To calculate the car loan EMI from Kotak Mahindra Bank, customers have to enter the below mentioned components of a car loan.

    • Loan amount - Using the pointer on the scale, customers can choose the loan amount they wish to avail. For example, Rs.2 lakh, Rs.5 lakh, Rs.10 lakh.
    • Tenure - Customers can choose the loan tenure using the pointer.
    • Interest rate - Enter the interest rate that is offered by Kotak Mahindra Bank on car loans.
    • Processing fee - Enter the processing fee charged by Kotak Mahindra Bank.
    • Pre-payment - Customers can choose whether they want to make the EMI calculation with or without the prepayment.
      • They can directly click on “calculate” if they do not want to include the prepayment charges in the EMI calculation.
      • If he/she wishes to include prepayments in the calculations, the customer will have to provide the information listed below:
        • Prepayment amount
        • Prepayment frequency
        • Prepayment fee
        • How the prepayment applies

    Click on the ‘Calculate’ once the information has been entered to get a detailed breakup of the total amount payable.

    Given that the current rate of interest on car loans from Kotak Mahindra Bank is 9.50% (fixed) let us calculate the EMI a customer would be required to pay for different tenures. We will assume that the processing fee is 2%.

    Loan amount (Rs.) Interest rate Processing fee EMI for 2 years (Rs.) EMI for 3 years (Rs.) EMI for 4 years (Rs.) EMI for 5 years (Rs.) EMI for 6 years (Rs.) EMI for 7 years (Rs.)
    10 lakh 9.50% 2% 45,914 32,033 25,123 21,002 18,275 16,344
    15 lakh 9.50% 2% 68,872 48,049 37,685 31,503 27,412 24,516
    20 lakh 9.50% 2% 91,829 64,006 50,246 42,004 36,549 32,688
    25 lakh 9.50% 2% 1,14,786 80,082 62,808 52,505 45,687 40,860
    30 lakh 9.50% 2% 1,37,743 96,099 75,369 63,006 54,824 49,032
    35 lakh 9.50% 2% 1,60,701 1,12,115 87,931 73,507 63,961 57,204
    40 lakh 9.50% 2% 1,83,658 1,28,132 1,00,493 84,007 73,099 65,376

    *Interest rates are subject to change following the inclusion of GST from July 1, 2017.

    Features and benefits of Kotak Mahindra Bank Car Loan EMI Calculator

    In seconds, the Kotak Mahindra Bank car loan EMI calculator performs complicated EMI calculation, giving customers a clear idea of how much the EMI would cost them every month. Some of the key features of the tool are listed below:

    • With the BankBazaar user-friendly EMI Calculator, customers will have EMI results in seconds.
    • To enable customers to understand the progress and breakup of the loan easily, the tool displays the amortisation table.
    • Customers can contact the support team of BankBazaar if they have any issues or queries regarding the tool.
    • This financial tool is completely free of cost.
    • The tool can be used multiple times - with different interest rates, processing fees, tenure and so on.
    • Customers can include prepayment charges in their calculations as well.

    Kotak Mahindra Bank car loan EMI calculator FAQs

    1. What are the different tenures offered by Kotak Mahindra Bank for car loans?

    The tenure for car loans offered by Kotak Mahindra Bank range between 12 months, 24 months and 36 months.

    2. What is the formula to calculate the EMI to be paid towards a loan?

    EMI Is calculated using the following formula:

    EMI = [P x R x (1+R) ^N] / [(1+R) ^N – 1],

    Where, P is the principal amount, R is the interest rate on a monthly basis, and N is the number of installments.

    This formula does not take into account the pre-payments that you make towards the loan.

    3. What are the features of the Kotak Mahindra Bank car loan?

    The Kotak Mahindra Bank car loan is characterised by the following features:

    • Customers have flexible repayment options with the tenure ranging between 12 months and 36 months.
    • 100% finance for the purchase of several models of cars and multiutility vehicles.
    • No hidden charges.
    • Disbursal of loans within 48 hours from approval.
    • Best interest rates on car loans.
    • Loyalty schemes for long-term customers.

    4. What documents should be submitted for a Kotak Mahindra Bank car loan if one is a salaried individual?

    • The filled car loan application form
    • Photograph signed by the customer
    • Identity Proof: Passport, PAN card, Voters ID card, Driving License
    • Address Proof: Electricity bill, Water bill, Telephone bill, Driving License, Passport, Ration card, Voters card or Life Insurance policy
    • Income Proof: Latest salary slip along with Form 16
    • Salary bank statement

    5. Is there a subscription to the BankBazaar website?

    No, there are no subscription fees for the BankBazaar website.

    Car Loan Reviews

    • Kotak Car Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have been taken my car loan with Kotak mahindra bank recently ,like 2 months before i took this loan, and i am happy with the loan amount they have given me ,it was sufficient for me, and the rate of interest they have charged me up to 9.3% which was nominal for me and the processing fee they have charged me was nominal, the loan amount process went smoothly. the overall service rendered by them was really good.
      Was this review helpful? 1
      , chennai
      Reviewed on Jan 17, 2019
    • Kotak Car Loan
      "Interest rate should be economical"
      0.5 3.5/5 "Pretty good"
      I done the foreclosure of my Kotak Mahindra car loan, because I felt the interest rate is higher. The customer support is good they are working 24/7 . They preclosure charges around is around 2% on remaining outstanding . I got the NOC letter within 3 days.
      Was this review helpful? 3
      , chennai
      Reviewed on Jan 05, 2019
    • Kotak Car Loan
      "Very Good Service"
      0.5 4.0/5 "Great!"
      The process in getting this loan has been good and the loan amount which they had provided has been sufficient. The interest rate with them has been nominal when compared with the market rate and there has not been any sort of charges which they had made so far.
      Was this review helpful? 2
      , chennai
      Reviewed on Dec 30, 2018
    • Kotak Car Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have been holding car loan with Kotak mahindra bank previously, i have close that loan 7 years before itself, there service was good, they have given me loan amount depend upon my salary package , the rate of interest they have charged was nominal, they have not charged any processing fee , there overall service is good.
      Was this review helpful? 2
      , hyderabad
      Reviewed on Dec 10, 2018
    • Kotak Car Loan
      "AVERAGE"
      0.5 4.0/5 "Great!"
      I am using the KOTAK MAHINDRA BANK for the card loan as i have taken it with the easy and quick process to get the loan. The loan amount is satisfactory added on that i am using it from past 1.5 years. The rate of interest is higher when compared to the others.
      Was this review helpful? 2
      , pune
      Reviewed on Dec 07, 2018
    • Kotak Car Loan
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      I have taken the card loan with the KOTAK MAHINDRA BANK where the process of getting the loan is good added on that the process is easy to get this loan. The rate of interest is nominal and the duration is for 4 years to repay the loan. The loan amount they haev given is satisfactory.
      Was this review helpful? 2
      , bangalore
      Reviewed on Dec 07, 2018
    • Kotak Car Loan
      "Needs To Improve"
      0.5 3.5/5 "Pretty good"
      The experience with this loan has not been that good where the loan amount which they had provided has not been satisfactory, which was less than expected. The interest rate with them has been pretty high when compared with the market rate and there has been some charges made by them.
      Was this review helpful? 1
      , bangalore
      Reviewed on Dec 04, 2018
    • Kotak Car Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      It was a very good experience with Kotak Mahindra bank for car loan, the interest rate was nominal when compared to other banks. Customer service was very good with this bank and they followed up on time. The tenure period for this car loan was for 5 years.
      Was this review helpful? 1
      , bangalore
      Reviewed on Dec 01, 2018
    • Kotak Car Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      My experience with KMB for car loan was good, the loan amount was for Rs 1.5 lacs with nominal interest rate when compared to others. It is a new car so loan was based on the on-road price. Customer service was good and the tenure period for this loan was 3 years.
      Was this review helpful? 2
      , pune
      Reviewed on Nov 30, 2018
    • Kotak Car Loan
      "Excellent Experience"
      0.5 5.0/5 "Blown Away!"
      I appreciate the smooth process they have approved the car loan on time, the bank approved the loan amount with 9.25% of interest. They transfer the amount to the showroom within 10 days and I purchase Maruthi baleno. I am very satisfied with the bank in terms of service.
      Was this review helpful? 2
      , jaipur
      Reviewed on Nov 30, 2018
    • Kotak Car Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      My personal loan was taken with KOTAK MAHINDRA BANK , the tenure period is 4 year . There service was good , they have given me sufficient loan amount , the rate of interest they have charged me was nominal. So far experience was good to have loan from KOTAK MAHINDRA FIN .
      Was this review helpful? 1
      , bangalore
      Reviewed on Nov 28, 2018
    • Kotak Car Loan
      "Good service"
      0.5 4.5/5 "Excellent!"
      My car loan was taken with KOTAK MAHINDRA BANK , there service was average, they have given me sufficient loan amount , the rate of interest they have charged me was nominal. So far experience was good to have loan from KOTAK . The tenure period was 5 year and it is sufficient .
      Was this review helpful? 2
      , bhubaneshwar
      Reviewed on Nov 26, 2018
    • Kotak Car Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I have been holding my car loan with KOTAK MAHINDRA BANK, there service was average, they have given me sufficient loan amount , the rate of interest they have charged me was nominal i donâ??t remember what was exact rate of interest percentage, and they did not charged any processing fee in this loan amount , so far experience was good.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Nov 16, 2018
    • Kotak Car Loan
      "Good car loan"
      0.5 3.5/5 "Pretty good"
      The rate of Interest could be better. Since my account was with Kotak, the documentation process was much easier. Its already been more than a year i have got my car loan with Kotak Mahindra. The process was easy. I am paying the EMI through auto deduction from the account. Based on interest rates i have to choose the car loan. Based on the terms and conditions of the loan, i have chosen the Kotak Mahindra.
      Was this review helpful? 1
      , mumbai
      Reviewed on Nov 13, 2018
    • Kotak Car Loan
      "Very Good Service"
      0.5 4.0/5 "Great!"
      It has been a good experience i had with this car loan and the loan amount which they had provided has been satisfactory. The interest rate with them has been nominal when compared with the market rate and there has not been any sort of additional charges which they had made for this loan.
      Was this review helpful? 1
      , new delhi
      Reviewed on Oct 26, 2018
    • Kotak Car Loan
      "Good Financial service"
      0.5 4.0/5 "Great!"
      I have taken car loan form the Kotak mahindra bank. They have given nominal rate of interest which am satisfied with it. There is no processing fees with tenure period of 60 months .They took just 1 week for the approval of the loan . Am satisfied with the my car loan from the Mahindra.
      Was this review helpful? 4
      , hyderabad
      Reviewed on Oct 11, 2018
    • Kotak Car Loan
      "Satisfactory"
      0.5 5.0/5 "Blown Away!"
      Kotak Mahindra bank has offered me a car loan as well. I got the loan is 48 hours. It was a pre approved loan. I have purchased a Audi car. The interest rate and processing charges were nominal too. It was a excellent experience and the process was smooth.
      Was this review helpful? 5
      , new delhi
      Reviewed on Sep 19, 2018
    • Kotak Car Loan
      "Good process"
      0.5 5.0/5 "Blown Away!"
      After completing my first car loan, I have taken a second one from Kotak Mahindra bank again. This time it is for buying a Hyundai Verna. The customer services and response is good and there are no hassles in the process. The rate of interest is around 12%.
      Was this review helpful? 1
      , chennai
      Reviewed on Sep 07, 2018
    • Kotak Car Loan
      "Good in service"
      0.5 5.0/5 "Blown Away!"
      Three years back I have taken a car loan from Kotak Mahindra bank to buy a Ford Fiesta. The customer services and response is good and there are no hassles for this loan. The process to get the loan is good and easy and there were no hassles in the overall experience. Satisfactory overall.
      Was this review helpful? 1
      , chennai
      Reviewed on Sep 07, 2018
    • Kotak Car Loan
      "Best experience"
      0.5 4.5/5 "Excellent!"
      My car loan experience was good with Kotak Mahindra bank, the process was smooth and they disbursed the loan amount on time. I am happy with the customer service of this bank as their response was very good. My loan was approved based on the ex-showroom price.
      Was this review helpful? 3
      , chennai
      Reviewed on Aug 30, 2018
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