Kotak Mahindra Bank Car Loan

Kotak Mahindra Bank | Car Loan | 03-Dec,2022

About Kotak Mahindra Bank: Kotak Mahindra Bank Limited is a private sector bank. It offers banking and financial services to retail and corporate customers. The bank was founded by Uday Kotak in February 2003. Uday Kotak has been the CEO of Kotak Mahindra Bank since May 1, 2018.

Detail: Candidate’s age should be minimum 21 years and maximum 58 years at the time of loan maturity.

Annual Percentage Rate (APR): 8% - 24% per annum

Minimum & Maximum period for repayment (Loan Tenure): Up to 7 years

Loan processing charges: 0.50% of the car loan amount

Late Payment: --

Foreclosure Charges: --

Partpayment Charges: --

Maximum Loan Amount: Up to 90% of the value of the car

Kotak Mahindra Bank Profile

Sector : Finance

Industry : Regional Banks

Kotak Mahindra Bank Limited is the third largest private sector Indian bank by market capitalization. Its headquarters are located in Mumbai, Maharashtra. The bank was founded in February 2003 by Uday Kotak. The bank offers savings accounts with attractive offers and high interest rates, low-interest personal loans, and credit cards. As of 2017, the bank had 33,013 employees and a network of 1,600 branches and 2,519 ATMs.

Know more

You will go on the Official website.

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Loan Type

Kotak Mahindra Bank ROI Max Loan Amount Tenure Processing Fee Late Payment Foreclosure Charges Partpayment Charges
Personal Loan 10.99% 15 lakhs 60 Months 2.5 % + GST After 12 months, 5% foreclosure charges with GST 3% p.m compounded monthly N/A
Home Loan 6.75% p.a. Check with Bank Check with Bank Up to 0.50% of the approved amount + GST -- Not Applicable --
Education Loan 10.25% Up to Rs.7.50 lakhs 5-7 years Up to 2% of the loan amount+ service tax -- -- --
Car Loan 8% p.a. Up to 90% of the value of the car Up to 7 years 0.50% of the car loan amount -- -- --
Business Loan 11.50% 3 lakh to 2 crore 24 months to 60 months Maximum 2% of the loan / facility amount (Plus GST) 6% of Foreclosure Loan Amount 3% p.m N/A
Gold Loan 10.50% p.a. Up to Rs.50 lakh 12 months to 48 months Up to 2% of the loan amount excluding GST -- 2.25% of the fore closure amount Nil

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