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Kotak Mahindra Prime Limited

The organization also offers other loan products such as developer loans, loan against securities, purchase of non-performing assets, personal as well as corporate loans, securitization and assessment transactions. KMPL has 78 branches spread across 18 states in India along with strong network of Direct Marketing Associates, agencies as well as brokers that help in enhancing sales in the organizations. KMPL values its customers and designs its products and services as per the customer demand and requirements along with dedicated customer service desks located at 12 major locations in the country ensuring faster resolutions within a minimum turnaround time.

Products and Services

Car Finance

• New Car Finance: For purchase of a Brand new Car

• Refinance on car : Loan on finance free car

KMPL provides exclusively wholesale funding for over 125 auto mobile dealers across the country. Various financial schemes that bank offers are listed as under:

Inventory Funding

where the Dealer inventory funding facility is linked to retail business sourced through dealership counter with a capping of 1 Crore.

Wholesale Finance Facility

Is designed to meet the working capital requirements with a facility similar to cash credit and any other banking product with an overdraft facility. Credit exposure in this plan is based on the dealer’s working capital requirement and credit assessment.

Project Financing – Term Loan

• Equipment Term Loan for purchase of equipment required to set up their businesses.

• Working capital term loan for meeting the working capital requirements

• Financial Restructuring for Dealers

• Credit Life is an insurance scheme offered to KMPL customers who apply for car loan or a personal loan.

Eligibility and Documents for Salaried

Products Documents list Eligibility criteria and locations
Car Loan
  1. Proof of Identity
  2. Address Proof
  3. Income Proof
  4. Latest Bank Statement

• Minimum age of Applicant: 21 years

• Maximum age of Applicant at loan maturity: 58 years

• Minimum Annual Income: Rs 100000 net annual income

• Minimum employment of 6 months

Car Loan Used
  1. Proof of Identity
  2. Address Proof
  3. Income Proof
  4. Latest Bank Statement

• Minimum age of Applicant: 21 years

• Maximum age of Applicant at loan maturity: 58 years

• Minimum Annual Income: Rs 100000 net annual income

• Minimum employment of 6 months

FAQs for Salaried

1. How much finance can I avail for car loan?
Ans. You can borrow up to 90% of the invoice value. The minimum loan amount is Rs.75,000/-
2. What are the tenure options?
Ans. The choice is yours. You can choose any repayment option from 12 to 60 months all specially designed to suit your requirements.
3. Up to what amount does KMPL finance for used car?
Ans. KMPL finances up to 90% of the car value
4. What is the tenure of financing options?
Ans. At KMPL, we give you financing option from a minimum of 12 months and up to 60 months

Eligibility and Documents for Self Employed

Products Documents list Eligibility criteria and locations
Car Loan
  1. Pan Card
  2. Proof of Identity
  3. Address Proof
  4. Income Proof
  5. ITR
  6. Latest Bank Statement
• Minimum age of Applicant: 21 years
• Maximum age of Applicant at loan maturity: 65 years
• Minimum employment: At least 2 years in business