Kotak Mahindra Bank Car Loan

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About Kotak Mahindra Bank Car Loan

Kotak Mahindra Bank Car Loan

Kotak Mahindra Bank is an Indian financial service firm established in 1985. It was previously known as Kotak Mahindra Finance Limited, a non-banking financial company.

Reserve bank of India gave Kotak Mahindra Finance Ltd to carry on banking services in Feb 2003. Kotak Mahindra Finance Ltd. is the first firm in the Indian banking history to convert to a bank.

Why Kotak Mahindra Bank Car Loan?

Owning a vehicle is a dream of every person. If you want to purchase a car but don’t have enough money for it, then you have to add on some extra cash. For this, you have to pick any loan plan. Kotak Mahindra Bank Car Loan scheme provide you with adequate funds to finance the vehicle. This loan covers a wide a range of cars which can be used or new.

Benefits of Kotak Mahindra Bank Car Loan

  1. To start, Affordable EMIs: The EMI’s that bank provide in the service of Car Loan are quite affordable.
  2. Next, Simple and Hassle free process: The Process of the service is quite clear. Thus, it is the best option in regard to buying a new car.
  3. Also, Easy to pay back: The loan seeker has different repayment options when it comes to Car Loan.
  4. In addition, Speedy Approval in 4 hours: Car Loan is very easy to get, and also the approval is very quick.
  5. Moreover, Minimum Documentation: The documents required for this service are quite less. Thus, the loan is approved in just some minutes.
  6. Finally, Attractive Interest Rates: Most importantly, the rate of interest is quite affordable when it comes to a car loan. People have to pay a lower interest rate in contrast to other services like Home Loan and Personal Loans.

Why Kotak Mahindra Bank Car Loan from Dialabank?

  1. First and Foremost, We offer speedy service.
  2. Also, Loans are approved within 24 hours after the documentation process.
  3. Next, The minimum loan amount is Rs 1 lakh, and maximum Loan amount. It depends upon the price of the car, car model, profile of the customer.
  4. Furthermore, The maximum loan amount is up to 90-95% of the ex-showroom price of the car.
  5. Besides, LTV (Loan to value) is up to 90% of the ex-showroom price of the car.
  6. Lastly, all the guidance is free of cost.

Eligibility of Kotak Mahindra Bank Car Loan


  1. To begin, Age – Minimum 21 years at the time of application up to Maximum 60 years.
  2. Next, Income -Minimum Income must be Rs.2,50,000/- per annum.
  3. Also, Work Experience -A minimum of 2 years of total experience, and must have completed one year of service with the current employer immediately before application.
  4. Furthermore, Residence stability- 2 years in the city and one year in the current residence or should be residing in the same house.


  1. First of all, Age – Minimum 21 years at the time of application up to maximum 65 yrs.
  2. Furthermore, Income -A minimum net profit of Rs.2,00,000/- per annum.
  3. Moreover, Business Experience – 2 years of minimum business stability mitigated with proof.
  4. Finally, Residence stability – 2 years in the city and one year in the current residence or should be residing in the same house.

Documentation Required for Kotak Mahindra Bank Car Loan

  1. First of all, two passport size photographs.
  2. Next, Identity proof: Driving License / Passport / Voter ID / Aadhar card / PAN card.
  3. Also, Residence Proof: Water Bills / Rental agreements / Electricity Bills / PAN card / Voter Id / Aadhar card / Driving License.
  4. Furthermore, Income Proof: Latest 3 months salary slip.
  5. Finally, Latest 6 months banking statements

Interest Rate of Kotak Mahindra Bank Car Loan

New Car
Less than 3 Lakhs =10.25%
From 3-6 Lakhs= 9.50%
6-10 Lakhs = 9.25%
10-20 Lakhs = 9.00%
More than 20 Lakhs= 8.70%
Used Car
In this case, the Car Loan Interest Rate starts at 14.00% per annum.

Factors on which Rate of Interest Depends

The Rate of Interest of Car Loan depends upon certain factors. That is, the interest rate varies according to the following:

Loan Amount: The amount of loan is a major factor when it comes to the rate of interest. More the amount of loan, lesser is the Interest Rate.

Location: The interest rate also depends upon where the applicant is living. That is, if the applicant lives in a metropolitan city then the ROI is lesser in contrast to a person living in a rural area.

Internal and External Customers: The interest Rate also differs if the customer is an external customer or internal. The internal customer always gets benefits in contrast to external ones.

Type of Car: The type of car also decides the interest rate. That is, if the car is a sedan, the interest rate is different than a hatchback.

How to Apply?

  1. To begin, the applicant has the option to apply for a Car Loan online. Just follow the following steps and avail this service.
  2. First of all, to avail a loan the applicant just has to visit www.dialabank.com.
  3. Next, the applicant will have to fill a Form online. In which, all the current information should be provided by the applicant.
  4. Furthermore, our relationship manager will get back to you in some time. And, will provide you with all the details related to your bank.
  5. Then, you will have to submit all your documents in the bank.
  6. Finally, the bank disburses the loan amount within a day.

Car Loan EMI Calculator

The applicant who wants to avail a Car Loan has an option to calculate the EMI’s that they will have to pay every month. This is a good opportunity for the people as it helps people to calculate the amount they have to pay to the bank before planning to take a Loan. If you can check your EMI’s at home, you will be sure which scheme you should avail. Thus, Click on the link below and get to know the EMI structure of Car Loan.

 Car Loan EMI Calculator  

EMI Calculator

Leading Car Loan Providers (Click to Apply)

  1. HDFC Car Loan
  2. Yes Bank Car Loan
  3. ICICI Bank Car Loan
  4. Axis Bank Car Loan
  5. State Bank of India Car Loan
  6. Canara Bank Car Loan
  7. Bank of Baroda Car Loans
  8. State Bank of Hyderabad Car Loan
  9. Others


Q1. What is a Car loan?

A car loan is borrowing money that a lender such as a bank or non-banking financial company provides an individual allowing purchasing a car. With the increased popularity of car loans, most banks and NBFCs offers the loan individuals who have a good credit history.

Q2.  A Loan to purchase a used Car?

Yes, a car loan is offered for pre-used cars. The interest rate for a used car would differ from a new car. The loan would only cover the price of the car itself, other costs as the transfer of registration, etc. will have to borne by you.

Q3. The benefits of applying for a car loan with Dialabank?

When you apply for a car loan with Dialabank, we provide you with all available options based on the information you provide us. You get the complete list of lenders who, suit your specific requirement you can compare the various loan options based on tenure, interest rate, maximum loan amount.

Q4. What is the maximum amount of loan that I can avail?

The maximum loan amount is up to 90-95% of the ex-showroom price of the car on new cars and 80-85% on used cars.

Q7. What is the tenure of a car loan?

The tenure of a car loan ranges from 1 year to 7 years. The shorter the car loan tenure, the higher is the EMI payable and the reverse is true for longer car loan tenures.

*Call us on 600 11 600 (Single Number across 18 Cities) or 7707861526.

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