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  • Kotak Mahindra Bank Car Loan is Rated as "Excellent!" by 359 Users

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    rated 4.5/5.0 by 359 users

    Kotak Mahindra Bank Car Loan

    Kotak Mahindra Bank is an Indian bank and financial service firm established in 1985. It was previously known as Kotak Mahindra Finance Limited, a non-banking financial company. In February 2003, Kotak Mahindra Finance Ltd, the group's flagship company was given the licence to carry on banking business by the Reserve Bank of India (RBI). Kotak Mahindra Finance Ltd. is the first company in the Indian banking history to convert to a bank. The bank offers personal finance solutions of every kind from savings accounts to credit cards, distribution of mutual funds to life insurance products. Kotak Mahindra Bank offers transaction banking, operates lending verticals, manages IPOs and provides working capital loans.If you have always dreamt of owning your own commercial vehicle, construction equipment or need funds for your working capital, you are at the right place. To know more, follow some simple steps given below to get attractive deals.


    You’re probably eligible for an Kotak Mahindra Bank Car Loan if you are

    01
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    03
    04
    Kotak Mahindra Bank Car Loan Minimum Age

    At least 21 years old

    Kotak Mahindra Bank Car Loan Maximum Age

    Less than 58 years old

    Kotak Mahindra Bank Car Loan Eligible Employment Type

    Salaried or self-employed
    with regular income

    Kotak Mahindra Bank Car Loan Minimum Income

    Earn more than the minimum
    income required


    Your Kotak Mahindra Bank Car Loan amount eligibility is based on these factors

    01
    02
    03
    Kotak Mahindra Bank Car Loan Minimum Salary

    Rs 15,000 per month

    Kotak Mahindra Bank Car Loan Maximum Loan to Value

    Loan capped @
    90% of the ex-showroom price

    Kotak Mahindra Bank Car Loan EMI

    EMIs of other loans lower
    your eligibility


    Increase your eligible Kotak Mahindra Bank Car Loan amount by these steps

    01
    02
    Kotak Mahindra Bank Car Loan Payoff Outstanding Credit Card Bills

    Pay off your credit card bills

    Kotak Mahindra Bank Car Loan Maximum Tenure

    Choose longer tenure loan up to 7 years


    Documentation needed to apply for an Kotak Mahindra Bank Car Loan

    • 1. Signed application form with photograph
    • 2. Photo ID and age proof
    • 3. Residence proof
    • 4. Last 6 months bank statement
    • 5. Documentation for salaried applicants:
      • Last 3 months salary – slips
      • Form 16 or Income Tax Returns
    • 6. Documentation for self-employed applicants:

      • Last 3 years Income Tax Returns with computation of Income
      • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account

    Kotak Mahindra Bank Car Loan Interest RatesUpdated on 26 Sep 2018

    Kotak Mahindra Bank Car Loan Details
    Pre Closure Charges 5.21% + GST
    Loan Tenure 7 years
    Guarantor Requirement Guarantor required

    The above mentioned interest rates are subject to change as per the revised GST rates.


    Kotak Mahindra Bank Overview

    Founded in 2003, the Kotak Mahindra bank is one of India’s leading private sector banks, headquartered in Mumbai. Originally established as a non-banking finance company by the name of Kotak Mahindra Finance, the bank is now among the fourth largest financial establishments in the country with a wide spread network of over 600 branches and 1000 ATMs located across the country. Catering to a diverse customer base, the bank offers a variety of financial services like deposit accounts, loans, investment services, corporate banking solutions, fixed income and treasury services.

    Apply for Car Loan Online

    About Kotak Mahindra Car Loan

    Living in an age when everything is valued in terms of time and money, motor vehicles are an innovation which complement the fast paced lifestyle of the population. Keeping that in mind, the Kotak Mahindra Car Loans have been designed to eliminate the time lag between applying for a loan and getting ownership of the vehicle. The New Car loans by Kotak Mahindra are open to salaried individuals, self-employed individuals, partnership firms, public & private companies and HUF’s and Trusts. Under the New Car finance, there are 5 car loan schemes which customers can choose from.

    1. Margin Money Scheme
      • Up to 90% loan value available for purchase of a new car (applicable only for certain car models)
      • Customer has the option to pay the margin amount (Invoice value after deducting the finance amount) to either to the dealer or the bank
      • Loan Repayment can be done via EMI over a flexible period of 12 to 60 months
    2. Step Up Scheme
      • Ideal for purchase of luxury vehicles
      • Option to adjust loan repayment amount based on growing income (ascending EMI amounts)
      • Adjust EMI amount yearly, bi-yearly or quarterly
    3. Low EMI Balloon Scheme
      • Ideal for those looking to resell the vehicle once loan tenure is over
      • Affordable EMI’s throughout loan tenure
      • Last EMI amount will be equal to 10% - 25% of the cost of the vehicle
    4. Advance EMI Scheme
      • Ideal for those looking for quick loan repayment
      • Pay amount of first few EMI’s together and the remaining through individual EMI’s
      • Special Schemes by Kotak Mahindra
      • Having tie-ups with various car manufacturers, Kotak Mahindra introduces special car loan schemes from time to time

    Why is Kotak Mahindra Bank car loan popular among customers?

    • New and used car loans: Kotak Mahindra offers car loans for the purchase of most makes and models of passenger cars and multi-utility vehicles in the Indian market. You can also use Kotak Mahindra Bank car loans to purchase certain imported cars (subject to terms and conditions of the bank).
    • Car loan amount: At Kotak Mahindra Bank, you can avail a maximum car loan of up to 90% of the price of the car and minimum Rs.75,000.
    • Car loan tenure: You can choose to repay the car loan over a period of 12 to 84 months depending on your repayment capacity.
    • Car loan processing: The bank processes car loan applications within 48 hours of submitting all the necessary documents. The approval of the application depends solely on Kotak Mahindra Prime Limited (KMPL).
    • Car loan prepayment: The bank allows borrowers to part or full prepay the outstanding dues after 6 successful EMI payments.

    Kotak Mahindra Bank Car loan Application

    You can check Kotak Mahindra Bank Car Loan Application Status by submitting an online application form with details such as your name, contact number, and address on the bank website and a representative of the bank will get in touch with you immediately to guide you on how to apply for a car loan at KMPL. You can also submit your duly-filled and signed car loan application form at the nearest Kotak Mahindra bank branch along with the necessary document proofs. To locate the nearest bank branch, visit the bank website and use the ‘Bank Branch Locator’ tool. You can also call or write to the bank to get assistance on how to apply for a car loan at KMPL.

    Who can apply for a car loan from Kotak Mahindra Bank?

    • Salaried individuals (Indian citizens) aged between 21 and 58 years with a minimum monthly income of Rs.15,000, a minimum work experience of 12 months, and minimum residence stability of 1 year.
    • Self-employed individuals (Indian citizens) aged between 21 and 65 years with a minimum work experience of 1 year in business and minimum residence stability of 1 year.
    • Hindu Undivided Families (HUFs) and Trusts.
    • Public and Private Ltd. companies.
    • Partnership Firms and LLPs.

    Service charges levied on Kotak Mahindra Bank (KMPL) car loan

    ChargesAmount
    Part prepayment interest on principal outstanding 5.21% + GST
    Loan cancellation charges Rs.2,000 per loan
    NOC from commercial to personal use Rs.2,000 per NOC
    NOC from private to commercial Rs.5,000 per NOC
    NOC for interstate transfer Rs.1,000 per NOC
    No Objection Certificate (NOC) or No Due Certificate (NDC) charges Rs.750 per duplicate certificate
    Duplicate Security Deposit Receipt Rs.250 per receipt
    Statement of account charges Rs.500 per statement
    Late payment charges 0.03% per month on the outstanding installment
    Collection charges for non-PDC cases for non-payment on the due date Rs.500 per cheque
    Cheque dishonor charges Rs.750 per cheque
    PSC Swap charges Rs.500 per swap
    Amortisation table schedule/statement Rs.250
    LPG/CNG NOC Rs.2,000

    Documents required for Kotak Mahindra Bank (KMPL) car loan application

    To apply for a car loan from Kotak Mahindra Bank (KMPL), the following documents are required as identity, age, income, and address proofs:

    Salaried Employee Self Employed ProfessionalProprietaryPartnershipCompanies
    Duly-filled KMPL car loan application form Duly-filled KMPL car loan application form Duly-filled KMPL car loan application form Duly-filled KMPL car loan application form Duly-filled KMPL car loan application form
    Recently taken passport size photograph with the applicant’s signature Recently taken passport size photograph with the applicant’s signature Recently taken passport size photograph with the applicant’s signature - -
    Identity proof - PAN Card, Aadhaar Card, Voter ID, Driving Licence or Passport Identity proof - PAN Card, Aadhaar Card, Voter ID, Driving Licence or Passport Identity proof - PAN Card, Aadhaar Card, Voter ID, Driving Licence or Passport Identity proof - PAN Card, Aadhaar Card, Voter ID, Driving Licence or Passport Identity proof - PAN Card, Aadhaar Card, Voter ID, Driving Licence or Passport
    Address proof - Utility bills like telephone/electricity bill or Ration Card Address proof - Utility bills like telephone/electricity bill or Ration Card Address proof - Rental agreement or property registration Address proof - Rental agreement or property registration Address proof - Rental agreement or property registration
    Income proof - The latest salary slip or Form 16 Income proof - IT returns of previous 2 years and Business stability proof/ownership proof Income proof - IT Returns of previous 2 years with complete financial/audit report, Partnership deed and Letter signed by all partners authorising one partner, Business stability proof/ownership proof Income proof - Letter of Authority, MOA and Board Resolution authorising one director to execute the agreement, Partnership/Trust Deed, IT Returns of previous 2 years Income proof - MOA and Board Resolution authorising one director to execute the agreement, IT Returns of previous 2 years

    Kotak Mahindra Bank Car Loan EMI Calculator

    By using the free Kotak Mahindra Bank Car Loan EMI Calculator that is available on the bank website, you can find out how much your loan will cost you on a monthly basis. The tool is simple and easy to use. Just enter the car loan amount, loan tenure, interest rate, and processing fee into the tool, and click on the ‘Calculate’ button. You will get instant EMI results with details such as the principal loan amount, interest payment, EMI, etc.

    Kotak Mahindra Bank Car Loan Eligibility Calculator

    It is important to check your eligibility before applying for a car loan so as to avoid rejection. Multiple loan rejections can have a negative impact on your credit score. Car loan eligibility criteria vary from lender to lender. Visit the bank website to check your car loan eligibility. The Kotak Mahindra Bank Car Loan Eligibility Calculator is easy and simple to use. Just enter the type of car loan you want, the model of car, the value/price of the car, geographical location, and your income details to check your car loan eligibility.

    Perfect Car Loan Deals for you

    Why Choose Kotak Mahindra Car Loan

    Kotak Mahindra Bank car loans are amongst the most preferred car loans in the country, an achievement which can be accredited to a variety of reasons. Given below are some of the most prominent features of the New Car Finance car loan by Kotak Mahindra.

    • Customer friendly pre and post sales service

      The bank lays emphasis on an efficient customer service to take care of all loan related queries, not only before taking the loan but also afterwards.

    • Multiple loan schemes to suit different customer needs

      Based on flexible EMI’s and loan tenure, Kotak Mahindra offers 5 car loan schemes – Margin Money scheme, Step Up scheme, Low EMI Balloon scheme, Advance EMI scheme and Special schemes.

    • Simple 7-step loan application procedure

      Following an easy 7-step application procedure, customers can get the loan sanctioned in a matter of 48 hours after documentation is complete.

    • Low interest rates

      Kotak Mahindra offers some of the lowest interest in the market ranging from 11.50% to 13.50%.

    • Flexible Repayment terms

      Depending on their convenience, customers can choose to repay the loan from a period of 12 months to 60 months.

    • Up To 90% Of Loan Amount Available

      For certain car models, customers can avail up to 90% of the loan amount to purchase the car of their dreams.

    Are You Eligible For the Kotak Mahindra Car Loan?

    The Kotak Mahindra Ban Car Loan is available for salaried individuals, self-employed individuals, partnership firms, private and public limited companies and Trusts and HUFs. Different applicants must fulfill their respective eligibility criteria in order to successfully apply for this car loan. For quick reference, the eligibility criteria for different applicants is given below.

    1. Salaried Individuals
      • Must be a minimum of 21 years
      • Must not exceed 58 years of age at time of loan maturity
      • Must have a minimum annual income of Rs 1,00,000
      • Must have been employed for a minimum of 6 months
    2. Self-employed Individuals
      • Minimum age must be 21 years
      • Maximum age must not exceed 65 years at loan maturity
      • Must have been employed for at least 2 years in the business

    Documents Required to Apply for the Kotak Mahindra Bank Car Loan

    1. Salaried Individuals
      • Duly filled application form
      • Identity Proof: Passport, PAN card, Voters ID card, Driving License
      • Income Proof: Latest salary slip along with Form 16
      • Address Proof: Electricity bill, Water bill, Telephone bill, Driving License, Passport, Ration card, Voters card or Life Insurance policy
      • Salary bank statement
      • Photograph signed by the customer
    2. Self-employed Individuals
      • Duly filled application form
      • Identity Proof: Passport, PAN card, Voters ID card, Driving License
      • Income Proof: Latest Income Tax Returns
      • Address Proof: Ration card, Driving License, Voters ID card, Telephone bill, Electricity bill, Life Insurance policy
      • Business bank statement
      • Photograph signed by the customer
    3. Proprietary Firms
      • Duly filled application form
      • Proof of residence – electricity / telephone bill
      • Respective banker’s verification, Voters ID, IT PAN card, Income Tax Return, Driving License or Passport
      • Total of last 2 years income as certified by the CA
      • Profit & Loss A/c and balance sheet for the last 2 years certified by the CA
      • Income Tax Returns of previous 2 years
      • Photograph signed by customer
    4. Partnerships & Companies
      • Duly filled application form
      • Proof of residence – electricity / telephone bill
      • Respective banker’s verification, Voters ID, IT PAN card, Income Tax Return, Driving License or Passport
      • Total of last 2 years income as certified by the CA
      • Profit & Loss A/c and balance sheet for the last 2 years certified by the CA
      • Income Tax Returns of previous 2 years
      • Partnership Deed / Trust Deed (only for Partnership Firms)
      • Letter of authority (only for Partnership Firms)
      • Memorandum of Association and Board Resolution authorizing one director to execute the agreement

    How to Calculate EMI for Kotak Mahindra Car Loans

    You can easily calculate the EMI amount on your car loan with the no-frills Kotak Mahindra Car Loan EMI calculator. The EMI will be calculated based on the loan amount, period of payment and interest rate applicable. All you have to do is enter the loan mount, tenure of the loan and the rate of interest applicable on your respective loan. With that information, the tool will calculate and display the EMI amount you need to pay based on the tenure selected by you.

    Kotak Mahindra Car Loan FAQs

    1. What are the tenure options available for this car loan?

      Customers can choose from easy loan repayment terms of 12, 24 and 36 months.

    2. How long would it take to process the loan?

      Processing of the loan will be done within 48 hours after the necessary documents are received.

    3. Are there any charges levied on late EMI payment?

      Yes. Customers will have to pay a charge of 3% on the outstanding EMI amount.

    4. What are the Kotak Mahindra Car Loan prepayment / foreclosure charges?

      The foreclosure fee, in case of prepayment of the loan, will be charged at 5.75% of the outstanding loan amount.

    5. Can Kotak Mahindra Bank customers check the status of their car loan applications online?

      Yes, customers can check the status of their Kotak Mahindra Bank car loan application status on the bank’s website via internet banking.

    6. Where can Kotak Mahindra Bank customers get the car loan application form?

      The Kotak Mahindra Bank car loan application can be downloaded from the bank’s website and can also be got from any branch office.

    7. Does Kotak Mahindra Bank offer the joint application facility to car loan applicants?

      Yes, customers can apply for Kotak Mahindra car loans along with a co-applicant.

    8. What are the documentation charges levied by Kotak Mahindra Bank for new car loans?

      The documentation charges for Kotak Mahindra Bank car loans is decided as per market rates and conditions.

    9. Does the applicant’s CIBIL score aid in determining the eligibility criteria for Kotak Mahindra Bank car loans?

      Yes, Kotak Mahindra Bank does consider the CIBIL score while sanctioning car loans for customers.

    10. What are the income documents that have to be submitted while applying for a Kotak Mahindra Bank car loan?

      As per the category of the applicant the following income documents have to be furnished -

      • Salaried Individuals - Form 16/ Recent Pay Slip
      • Self Employed Businessmen - Latest IT Returns Statement
    11. Does Kotak Mahindra Bank offer pre-approved car loans for existing banking customers?

      Yes, Kotak Mahindra Bank does offer pre-approved car loans for existing banking customers.

    12. What is the minimum car loan amount that will be sanctioned by Kotak Mahindra Bank?

      The maximum car loan amount that will be sanctioned by Kotak Mahindra Bank is Rs. 75,000.

    13. What is the maximum car loan amount that will be sanctioned by Kotak Mahindra Bank?

      The maximum car loan amount that will be sanctioned by Kotak Mahindra Bank is up to 90% of the vehicle value.

    14. What is the minimum tenure that can be selected by a Kotak Mahindra Bank car loan borrower?

      As per the customer’s requirements, the minimum tenure that can be selected by borrowers for a Kotak Mahindra Bank car loan is twelve months.

    15. What is the maximum tenure that can be selected by a Kotak Mahindra Bank car loan borrower?

      The maximum tenure that can be chosen by borrowers for a Kotak Mahindra Bank car loan is up to sixty months.

    16. Does Kotak Mahindra Bank charge any pre-closure penalty for customers closing their car loans before the end of the tenure?

      Yes, Kotak Mahindra Bank charges a penalty of 5.75% of the outstanding principal amount when a foreclosure of a car loan is done. Prepayments can be done six months after the car loan has been availed.

    17. Can borrowers transfer the balance from an existing car loan to a new Kotak Mahindra Bank car loan account?

      Yes, other bank car loan customers can make balance transfers to a new Kotak Mahindra Bank car loan account.

    18. Does Kotak Mahindra Bank provide car leasing facilities for existing car loan borrowers?

      Yes, Kotak Mahindra Bank provides car leasing facilities for existing car loan borrowers.

    19. What is the verification process done by Kotak Mahindra Bank when a car loan application is done?

      Once the bank has received the documentation from the car loan applicant, the credit evaluation is done by an officer. Then if approved, the finance is processed and the loan is sanctioned.

    20. How long does it take for Kotak Mahindra Bank to process a new car loan application?

      Kotak Mahindra Bank approves car loans within 48 hours, after the required documentation has been furnished by the applicant.

    21. Can Kotak Mahindra Bank customers contact the customer care service in case of any queries or concerns?

      Yes, Kotak Mahindra Bank car loan customers can contact the customer care helpdesk for addressing any queries.

    22. What are the types of applicants eligible to avail a Kotak Mahindra Bank car loan?

      Salaried employees aged between 21 to 58 years, self-employed professionals aged between 21 to 65 years, public and private listed companies, partnership firms, trusts and HUFs are eligible to avail a Kotak Mahindra Bank car loan.

    23. What is the minimum annual income criteria for salaried employees taking a Kotak Mahindra Bank car loan?

      Salaried employees should carry an annual income of Rs.1 lakh, with a minimum employment tenure of six months to be eligible for a Kotak Mahindra Bank car loan.

    24. What is the employment criteria to be met by self-employed professionals taking a Kotak Mahindra Bank car loan?

      Self-employed professionals should have been in business for atleast two years to be eligible for a Kotak Mahindra Bank car loan.

    25. What type of cars are financed by Kotak Mahindra Bank?

      Kotak Mahindra Prime Limited offers financing to passenger vehicles, multi-utility vehicles and imported cars, on a case-by-case basis.

    26. Is a guarantor required for Kotak Mahindra Bank car loans?

      For most car loans sanctioned by Kotak Mahindra Prime Limited a guarantor is not required, but if the applicant does not meet the required age and income criteria then a guarantor might be asked for.

    27. How can customers apply for a Kotak Mahindra Bank car loan?

      New customers have to just fill in the online application and a bank representative will contact them for further processing.

    28. What are the different car loan schemes offered by Kotak Mahindra Prime Limited?

      The various car loans schemes offered by Kotak Mahindra Prime Limited are -

      • Margin Money Scheme
      • Step Up Scheme
      • Low EMI / Balloon Scheme
      • Advance EMI Scheme
    29. What are the charges levied by Kotak Mahindra Bank for late payment of monthly installments?

      Kotak Mahindra Bank levies a charge of 3% of the overdue amount as late payment fees, which is compounded on a monthly basis.

    30. Are there any special car loan schemes offered by Kotak Mahindra Bank?

      Yes, Kotak Mahindra Bank does offer special car loan schemes in association with car manufacturers.

    31. What are the documents that are accepted as address proof by Kotak Mahindra Bank?

      Kotak Mahindra Bank will accept copies of telephone bills and electricity bills as address proofs.

    32. Do all types of applicants have to submit photographs while applying for car loans with Kotak Mahindra Prime Limited?

      Salaried employees, self-employed firms and proprietary firms have to submit photographs along with the car loan application form.

    33. Does Kotak Mahindra Prime Limited offer refinance options to existing car loan customers?

      Yes, Kotak Mahindra Prime Limited does offer refinance options on a vehicle for which a car loan tenure has been completed.

    34. What are the types of pre-approved car loans offered to existing Kotak Mahindra Bank customers?

      The two types of car loans offered are - Kotak Prime Track record for a tenure of 12 months or above and RePlus, which offers a personal loan and refinance for existing customers.

    Kotak Mahindra Bank Car Loan Reviews

    • 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? 0
      , 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? 0
      , 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? 0
      , 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
    • Kotak Car Loan
      "superb service"
      0.5 5.0/5 "Blown Away!"
      My experience with card loan of KOTAK BANK is pretty good , Customer service and their response is good . I use to pay 9200 rs of EMI and there is option of preclosere . Rate of interest is 9% and it is nominal in the market , tenure period is 5year . There is no processing fee .
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Aug 26, 2018
    • Kotak Car Loan
      "Good service"
      0.5 4.0/5 "Great!"
      My car loan experience was good with Kotak Mahindra bank, the loan amount was based on my requirement and the rate of interest was nominal when compared to other banks. Customer service was good and they followed up on time. The tenure period was for 5 years but i preclosed the loan in 3 years, there was no additional fee charged.
      Was this review helpful? 7
      , new delhi
      Reviewed on Aug 17, 2018
    • Kotak Car Loan
      "AVERAGE"
      0.5 2.0/5 "Expected more"
      I have taken a car loan with MAHINDRA FINANCE BANK and my loan experience is pretty good. My loan amount is 4.5lakh and interest rate is is too high. There is no hidden charges. I use to pay 16900 as EMI per month including insurance and tenure period is 3years. Processing fee is nominal.The process was so smooth at the time of documentation, i did not face any problems.
      Was this review helpful? 1
      , bangalore
      Reviewed on Aug 10, 2018
    • Kotak Car Loan
      "Good till date"
      0.5 5.0/5 "Blown Away!"
      My car loan is with Kotak Mahindra bank and there are no hassles to get the loan through. The rate of interest is also good and the processing charges are normal too. The after loan services are good and the process to get the loan is also easy and smooth.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Aug 06, 2018
    • Kotak Car Loan
      "Very good service"
      0.5 5.0/5 "Blown Away!"
      I took a card loan from the Kotak Mahindra Bank for 6 lacs, I got the loan with in 3 days. The interest rate was 8% nominal rate. I am paying monthly 12400 as EMI for this loan. The whole application process was easy and hassle free and I got the loan loan amount with out any hassle.
      Was this review helpful? 2
      , ahmedabad
      Reviewed on Jul 12, 2018
    • Kotak Car Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have taken a car loan with Kotak Mahindra bank and my loan experience was good, the loan amount was for Rs 3 lakhs with nominal interest rate when compared to other banks. I have already completed 2 years for loan so more 1.5 years left. Customer service was good and they responded on time.
      Was this review helpful? 1
      , coimbatore
      Reviewed on Jun 29, 2018
    • Kotak Car Loan
      "Easy to Get Loan"
      0.5 5.0/5 "Blown Away!"
      Fast processing in Loan services. I have bought a new swift car by using the Kotak mahindra car loan. I have got the loan on time. I have taken this loan 6 months ago. I'm paying the EMI of Rs.12700. I used to make the payment through ECS. Their interest and processing fee are nominal. I have to pay the EMI for 3 years. 36 months loan i have opted for.
      Was this review helpful? 0
      , jaipur
      Reviewed on Jun 19, 2018
    • Kotak Car Loan
      "Best Car Loan from Kotak Mahindra Bank"
      0.5 5.0/5 "Blown Away!"
      I have taken this car loan in the year of 2015. They informed me earlier when i applied for the car loan. I'm much aware of the interest and other charges when i take a loan. Everything is fine with Kotak mahindra bank car loan. I'm paying the EMI of Rs. 14000 per month. I've started to pay the EMI from August 2016. Next month I'm going to close the car loan for that i have to pay 2% as pre-closure charges.
      Was this review helpful? 1
      , new delhi
      Reviewed on Jun 14, 2018
    • Kotak Car Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      Around 2 years ago, I have got the car loan from the KOTAK MAHINDRA BANK. The customer support service and the response is good from the Kotak and they have disbursed the loan amount within a week time. The rate of interest and the charges are average here.
      Was this review helpful? 0
      , chennai
      Reviewed on May 18, 2018
    • Kotak Car Loan
      "Very good service"
      0.5 4.0/5 "Great!"
      I have taken this card during this year starting and it has been very good with all the services which they had provided me so far. The rate of interest which they had offered was 15% which is quite good compared with the market rate. I was also satisfied with the premium amount which has been offered. Overall it was a good experience in this loan.
      Was this review helpful? 1
      , phaltan
      Reviewed on May 12, 2018
    • Kotak Car Loan
      "Car loan from Kotak"
      0.5 5.0/5 "Blown Away!"
      I have taken a car loan from Kotak Mahindra bank and the approved loan amount was 2 lakhs with a rate of interest is 13%. The monthly EMI comes around 10000 for a tenure of 2 years. The customer service and response is good. The procedures was very fast.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on May 11, 2018
    • Kotak Car Loan
      "BEST"
      0.5 5.0/5 "Blown Away!"
      From the year 2015 i am using this loan, i have got my loan amount very quickly and easily. W hen it comes to the documentation it is very easy. Actually i am not sure that how much is my rate of interest. and i have paid my loan due for 5 years, and i am satisfied with the amount that they have given.
      Was this review helpful? 0
      , chennai
      Reviewed on May 09, 2018
    • Kotak Car Loan
      "Stay away from KOTAK MAHINDRA PRIME"
      0.5 1.0/5 "Really Bad"
      Nil transparency and customer service. Hidden charges and high interest rates. Basically a buttoned up loan sharks. They think every loan customer is a tractor owner who can be conned and be cheated. I had a salary account with Tech Mahindra which led me to this trap through Kotak Mahindra Bank
      Was this review helpful? 2
      , bangalore
      Reviewed on May 05, 2018
    • Kotak Car Loan
      "GOOD SERVICE"
      0.5 5.0/5 "Blown Away!"
      Using this KOTAK Mahindra car loan since 2 years, as i am not aware of the rate of interest. The response provided by them was very good and the quick response from them is given me and infact they offered a very good customer service in general.
      Was this review helpful? 0
      , navi mumbai
      Reviewed on May 02, 2018
    • Kotak Car Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      Around 8 months ago , I have got the car loan from the KOTAK MAHINDRA BANK and they have disbursed the loan amount within 10 to 15days of time. The customer support and the response is a good with the Mahindra bank. The rate of interest and the charges are bit high with the KOTAK MAHINDRA BANK when compared with others.
      Was this review helpful? 0
      , chennai
      Reviewed on Apr 18, 2018
    • Kotak Car Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      Kotak Mahindra Bank has offered me car loan and it has been a excellent experience. I got the loan in three days. They offered me a outstanding rate of interest of 8.25% and there was no processing charges. The customer services and response is good.
      Was this review helpful? 0
      , new delhi
      Reviewed on Apr 11, 2018
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