In today’s world, owning a car has almost become a necessity with the freedom of movement and comfort that it offers. And with the Avyud Finance Car Loan Services, your dream of owning a car can become a reality with minimum effort. Avyud Finance provides new as well as used Car Loan from Kotak Mahindra Bank, all tailored to meet your individual requirement with flexible schemes. Additionally, our convenient repayment options, easy processing, and flexible Car Loan interest rates mean that, no matter what your dream car, we can help you turn that dream into a reality.
₹
500000
36
months
10
%
Monthly EMI
₹
₹ 32,124.56
Total Interest
₹
10,622.78
Principal Amount
₹
500000
Payable Amount
₹
160,622.78
| Pay No. |
Begining Balance | EMI | Principal | Interest | Ending Balance |
|---|---|---|---|---|---|
| 1 | 150000.00 | 32124.56 | 28637.06 | 3487.50 | 121362.94 |
| 2 | 121362.94 | 32124.56 | 29302.87 | 2821.69 | 92060.07 |
| 3 | 92060.07 | 32124.56 | 29984.16 | 2140.40 | 62075.91 |
| 4 | 62075.91 | 32124.56 | 30681.30 | 1443.26 | 31394.61 |
| 5 | 31394.61 | 32124.56 | 31394.64 | 729.92 | -0.03 |
Kotak Mahindra Prime Limited finances most passenger cars and multi-utility vehicles manufactured by India's leading automobile companies. We also finance imported cars subject to fulfillment of certain terms and conditions.
You can borrow up to 90% of the car value. The minimum loan amount is Rs. 75,000/-.
The choice is yours. You can choose any repayment option from 12 to 84 months, all specially designed to suit your requirements.
Within 48 hours of completing documentation. Credit is at the sole discretion of KMPL.
Yes. One can prepay the loan any time after 6 months of availing of the loan. You have to pay a small prepayment fee on the outstanding loan amount. We also offer the option of refinance on the same vehicle after completion of a particular tenure.
Generally, no. But if your income/age does not meet our credit criteria, then you may be required to have a guarantor to stand surety for your loan.
Note: This content is taken from Kotak Mahindra Bank website
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