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Here are a few factors
Location | 50Km from Branch |
CIBIL Score | 650+ |
Loan Amount & Tenure | 1
Lac-10 Cr (18M to 60M) |
Loan to Value(LTV) | 1.
Sale-Purchase: Upto 90% of Value of Car 2. Refinance:80% of value of Car 3. External BT & Internal BT-Topup-Upto 150% of Value of Car |
Type of Funded Vehicle | Funding to 3rd Owner |
Rate of Interest & Type | 10.50% to 18.90% (Reducing) |
Processing Fees | 1% of Loan amount |
TAT | Sanction-2
Days Disbursement-4 Days |
Foreclosure Charges | 5% after 6 month |
Applicant | Any Salaried or Self Employed Person |
Applicant Age | 21 to 60 Year |
Applicant Minimum Income | Which is sufficient to Serve EMI |
Business Vintage for Self Employed Applicant | 3 Year |
Minimum Job Experience for Salaried Applicant | 2 Year |
Whether Co-Applicant Mandatory | Yes |
Part Payment Allowed | Yes, after 6 month |
Product | 1.
Sale-Purchase 2. Refinance 3. External BT 4. Internal BT+Topup |
Program | 1.
Banking Program 2. Income Program-Upto 4X of total income |
Negative Profile | No BT+Topup to Advocate, NRI, DSA Profile |
USP | Upto 150% of Finance of Car Value |
Required Documents to Apply for Kotak Prime Used Car Loan
Salaried Person
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KYC of applicant
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Last 3 Month Salary Slip of Applicant
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Last 12 month Bank Statement of applicant
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Last 3 year ITR with computation of income of applicant or Last 2 Year Form 16 of applicant
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26AS of last 2 year of applicant
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RC of CAR
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Insurance Copy
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Sanction letter of all running loan
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Latest utility Bill if owned residence or rent agreement if rented
Self Employed
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KYC of applicant
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Last 3 year ITR with computation of income of applicant
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Last 3 year audited balance sheet of applicant if available
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Last 3 year Tax audit report of applicant if applicable
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Last 12 month Bank Statement of applicant
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RC of CAR
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Insurance Copy
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Copy of GST registration if available
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Copy of Last 12 month GST return if applicable
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Sanction letter of all running loan
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Latest utility Bill of residence if owned or rent agreement if rented
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Latest utility Bill of Office if owned or rent agreement if rented
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List of Directors & Shareholders, if applicant if Company or List of Partners if applicant is Partnership Firm/LLP
About Kotak Prime Used Car Loan
Are you lined up to travel in style? The Kotak Prime Used Car Loan is the key to purchasing the car of your dreams. This is about more than just having a car; it's about creating memories, discovering new vistas, and living life the way you want to. Your dream car is easier than you think with a Kotak Prime Used Car Loan.
Don't only visualize the path ahead of you; take it! Begin your Kotak Prime Used Car Loan application today. Kotak Prime is not simply giving you a loan; they are giving you an opportunity to pursue your dreams.
Get behind the wheel without breaking the bank. Interest rates have been designed to be reasonable. Stop delaying purchasing your ideal car any longer. Because of the simple approval process, you'll be in the driver's seat earlier than you expect.
Save Your Time with a Simple Loan Process

Visit Our Website
For the first step, you will have to visit our website to explore the loan options that fit your needs.
Select and Apply
Once you shortlist the loan you have been looking for, apply for it, and proceed with the further process.
Submit Your Document
One of the most important steps. Now you will have to submit all the required documents digitally.
Enjoy Your Financial Freedom!
Once your application is approved based on your eligibility, you will receive your loan amount shortly.
FREQUENTLY ASKED QUESTIONS
After six months from the date of loan issuance, prepayment is possible at any moment.
. You could need a guarantor who can serve as guarantee for your loan if your age or income doesn't match our credit requirements.
Nearly all passenger cars and multipurpose vehicles produced by the top automakers in India are financed by Kotak Mahindra Prime Limited.
The applicant's age should be between 21-60 years.
Your CIBIL Score should be of at least 650+ for Kotak Prime Used Car Loan