Kotak Car Loan Options for New, Used & Electric Cars

Explore flexible loan types with smart interest rates, quick approval and seamless digital processing.

From brand-new cars to second-hand wheels, get tailored loan options with easy EMIs and fast disbursal.

Kotak Mahindra Car Loan Insurance on PoketCare

A smart, affordable protection plan that secures your EMIs, your family and your financial peace of mind.

⭐ Main Features of Kotak Mahindra Car Loan Insurance

• Covers outstanding loan amount during unforeseen events like job loss, disability or critical illness
• Affordable premium customised to your exact loan amount
• Quick policy activation with minimal documentation
• EMI protection throughout the entire loan tenure
• Smooth claim process with dedicated assistance
• Works for both salaried and self-employed borrowers
• Protects your credit score by preventing missed or delayed EMIs
• Reduces financial stress during medical emergencies or income interruptions
• Secure and compliant plan offered by a trusted banking brand

⭐ Key Benefits of Kotak Mahindra Car Loan Insurance

• Ensures your family never faces the burden of car loan repayment
• Keeps your vehicle ownership safe even during difficult times
• Offers peace of mind throughout your repayment journey
• Helps maintain long-term financial stability
• Shields your savings from sudden EMI pressure
• Allows you to enjoy your car without worrying about “what if” situations

⭐ PoketCare Pro Tip

Always opt for Kotak’s loan protection insurance when taking a car loan—it's a small addition that safeguards your EMIs, keeps your credit score clean and protects your family from unexpected financial shocks.

Ideal Users & Eligibility criteria for Kotak Mahindra Car Loan

⭐ Ideal Borrower

Designed for salaried and self-employed buyers who want flexible EMIs, fast approval and transparent loan terms.

Ideal Borrowers – Salaried Individuals

• Working in private, Govt or MNC organisations
• Stable monthly income with regular salary credits
• Prefer predictable EMIs and fast digital approval
• Have a consistent employment history (minimum 1–2 years)
• Looking for a new car, used car or EV loan with low documentation

Ideal Borrowers – Self-Employed Individuals

• Business owners, traders, professionals (CA/Doctor/Architect etc.)
• Consistent business income for the past 2–3 years
• Prefer higher loan amounts and flexible repayment options
• Need quick funding with minimal paperwork
• Want a loan that supports both business and personal mobility

⭐ Eligibility Criteria

Simple income, age and credit score requirements for smooth and fast loan approval.

Eligibility for Salaried Applicants

• Age: 21 to 60 years
• Income: Minimum monthly income as per city norms (usually ₹20,000+)
• Employment: Minimum 1 year of total work experience with 6–12 months in current job
• CIBIL Score: Preferably 700+ for the best rates

Eligibility for Self-Employed Applicants

• Age: 21 to 65 years
• Business Vintage: Minimum 2–3 years of stable operations
• Income: Minimum annual turnover as per Kotak’s internal policy
• CIBIL Score: Ideally 700+ for smooth approval

⭐ PoketCare Pro Tip

Keep your CIBIL score above 700 and maintain clean banking habits for at least 6 months before applying. Kotak gives the best interest rates and fastest approvals to borrowers who show stable income, consistent transactions and low existing loan burden. A quick check on PoketCare’s  Eligibility Tool can instantly tell you your approval chances.

Documents Required for Kotak Mahindra Car Loan

Complete checklist for Salaried, Self-Employed & Vehicle Documents

Salaried Individuals:

• Identity Proof: Aadhaar Card, PAN Card, Passport, or Voter ID
• Address Proof: Utility bills, Passport, Aadhaar, or Rental Agreement
• Income Proof: Latest 3 months’ salary slips, Form 16, or bank statements
• Employment Proof: Appointment letter, current employer certificate
• Recent Photographs

Self-Employed Individuals:

• Identity Proof: Aadhaar Card, PAN Card, Passport, or Voter ID
• Address Proof: Utility bills, Passport, Aadhaar, or Rental Agreement
• Income Proof: ITR for last 2–3 years, profit & loss statement, balance sheet
• Business Proof: Registration certificate, GST certificate, or trade license
• Bank Statements: Last 6 months’ statement of the business account
• Recent Photographs

Vehicle Documents:

• Quotation/Invoice of the Vehicle from the Dealer
• Registration Certificate (RC) for used cars
• Insurance Certificate (if already insured)
• Hypothecation agreement (if financed through bank)

PoketCare Pro Tip:
When applying for a Kotak Mahindra Car Loan, ensure all income and identity documents are consistent across your application. Kotak often processes faster for complete and verified documentation. Keeping your bank statements ready for the last 6 months can speed up approval and avoid last-minute delays.