Rate from
8.95%
Max Amount
₹50L
Tenure
12–84 mo
Processing Fee
Up to ₹8,000
Product Overview
Everything you need to know about this offer
- Kotak Mahindra's Car Loan is a new and pre-owned car finance product designed for fast in-principle sanctions and on-road funding up to 100%.
- Rates start at 8.95% p.a.
- with tenures up to 7 years for new cars and 5 years for used cars up to 8 years old.
- The product covers ex-showroom price, insurance, road tax and accessories under a single EMI, so you walk into the dealership with a hard sanction in hand.
- Eligibility uses income, employment stability and CIBIL score, with women borrowers receiving a 5–10 bps concession.
- Hypothecation is in favour of the lender until full repayment, after which the vehicle title is freed via a simple online process.
- Through DhanLift you can compare Kotak Mahindra against 15+ banks and NBFCs, see differentiated rates for petrol vs EV vs used, and lock in your rate before negotiating the on-road price with the dealer.
- Special offers run during festive months for popular OEMs including Maruti, Hyundai, Tata, Mahindra and Toyota..
Interest / Features
Offer-level pricing, fees, and core features
Interest range
8.95% - 12.5%
Reducing balance rate, profile dependent.
Loan amount
₹1L - ₹50L
Available amount range for this offer.
Tenure
12-84 mo
Choose repayment based on EMI comfort.
Processing fee
Up to ₹8,000 + GST
Foreclosure
3% of outstanding (Nil after 12 EMIs)
Up to 100% on-road funding
Instant in-principle sanction
Tenures up to 7 years for new cars
Women borrower rate concession
Key Benefits
Why thousands choose this specific product
- Up to 100% on-road funding
- Instant in-principle sanction
- Tenures up to 7 years for new cars
- Women borrower rate concession
- Special rates for EVs
- Zero foreclosure after 12 EMIs
Eligibility Criteria
Check if you qualify before applying
Indian resident aged 21–65
Min net income ₹25,000/month
Stable employment 1+ year
Valid driving licence
CIBIL 700+
Documents Required
Keep these ready to speed up your application
PAN & Aadhaar
Salary slips / ITR
Last 3 months bank statement
Car proforma invoice from dealer
Valid driving licence
Address proof
Interest Rate & Fees
Transparent pricing, no hidden charges
| Interest rate | 8.95% – 12.5% p.a. (reducing) |
| Processing fee | Up to ₹8,000 + GST |
| Foreclosure | 3% (Nil after 12 EMIs) |
| Part-prepayment | Allowed, no charges |
| Hypothecation removal | ₹500 + GST |
| Late EMI penalty | 2% per month |
* Rates and fees indicative; final pricing depends on credit assessment. All charges exclude GST unless mentioned.
Car Loan EMI Calculator
Estimate your monthly payments instantly
₹5,00,000
10.45 %
36 mo
Principal vs interest14% interest share
PrincipalInterest
Monthly EMI
₹16,239
Total interest
₹84,620
Total payable
₹5,84,620
Indicative only. Actual EMI depends on lender pricing, processing fees, and your credit profile.
Frequently Asked Questions
Quick answers before you apply
Yes. Select profiles get insurance + road tax + accessories bundled into the loan EMI, so zero out-of-pocket at the showroom.
Yes. Cars up to 8 years old (at loan maturity) are financed at slightly higher rates than new car loans.
Yes — RC will reflect hypothecation in favour of the lender. It is removed online after full repayment.
Yes. Kotak Mahindra offers 25–50 bps lower rates on approved EV models from leading OEMs.
Female primary applicants get a 5–10 bps rate reduction across most variants.
Yes, balance transfer is available after 12 months of clean EMI history.
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