: : Application Process
The application process is a simple, 7-step process...
Step 1: Getting Information
You can get information on our finance schemes in various ways mentioned below:
1) You can reach us on marketing@kotak.com
2) You can visit us or call up the branch click here for details.
3) You can apply online
4) You can sms CF < followed by name of your city> at 5675788 |
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Step 2: Receiving the KMPL offer
We offer tailor made schemes based on your needs.Choose from the schemes available. |
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Step 3: Documentation
Once the vehicle, product and scheme are finalised, it will be time for us to initiate the process of making finance available to you as soon as possible. In order to process the loan application smoothly, we require the following documents from our customer.
The table below represents the documents required from you. Please identify yourself in the appropriate category and arrange for these documents. We assure you that once these are in place we will be able to process the finance in the shortest possible time.
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Documents |
Salaried Concerns |
Self Employed Firm |
Proprietary |
Partnership |
Companies |
| KMPL App. Form duly filled by you |
Y |
Y |
Y |
Y |
Y |
| |
| Latest Salary Slip showing statutory deductions |
Y |
- |
- |
- |
- |
| |
| Form 16 / IT Returns |
Y |
- |
- |
- |
- |
| |
| Proof of Residence (copy of electricity/ telephone bill) |
Y |
Y |
Y |
Y |
Y |
| |
Signature
Verification from your Banker / Voters ID / IT PAN card / IT Return / Driving License/ Passport |
Y |
Y |
Y |
Y |
Y |
| |
| Computation of Income for the last 2 years certified by CA |
- |
Y |
Y |
Y |
Y |
| |
| P&L A/C and B/S for the last 2 years certified by CA |
- |
Y |
Y |
Y |
Y |
| |
| Copies of Income Tax Returns for the last two years |
- |
Y |
Y |
Y |
Y |
| |
| Partnership Deed / Trust Deed |
- |
- |
- |
Y |
- |
| |
| Letter of Authority |
- |
- |
- |
Y |
- |
| |
MOA and Board Resolution authorising one director to execute
the agreement. |
- |
- |
- |
Y |
Y |
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| Photograph (one signed by the customer) |
Y |
Y |
Y |
- |
- |
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Step 4: Credit Evaluation
A field investigation officer will visit you for additional information that will help us process your loan. A KMPL credit officer will evaluate your proposal based on the documents submitted by you along with the FI report. |
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Step 5: Processing of Finance
After Credit approval, we will enter into an agreement with you and collect post dated cheques (PDCs) / ECS Mandate.
You also need to give us a pay order or cheque for the margin money. On receipt of complete documentation, signed agreement, margin money receipt, initial payment cheque, necessary RTO documents and PDCs / ECS Mandate we will make the disbursement of the loan. |
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Step 6: Delivery of your Car
The time has finally arrived for you to take delivery of your car.
Please Note: Date of delivery of cars is the sole responsibility of the Dealer / DMA and is independent of the finance terms. |
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Step 7: Receiving Agreement and Re-Payment Schedule
At the time of delivery, please ensure you collect the invoice from the dealer. Usually registration takes minimum 9-10 days hence, please follow up with your Dealer / DSA for receipt of the same. Please ensure that the vehicle is properly insured under comprehensive insurance plan during the loan period. We will send the Agreement copy and Repayment Schedule to you at your correspondence address within 15 days of the loan disbursal.
These are the seven simple steps to acquiring you car. At any point, if you require further assistance please contact us |
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