FAQ Which different finance schemes are available? Margin Money, Step up Scheme , low emi balloon scheme Advance EMI and. The schemes can be further structured in a way to suit your individual requirements. What interest rate is finance available at? Interest rates depend on the car that you plan to take and the tenure of the loan. This is so because we receive discounts from the manufacturers and dealers that we pass on to you and different manufacturers give us different discounts. How is interest calculated? The interest is calculated in the reducing balance method. What's the EMI that I would need to pay? The EMI will depend on the amount of the finance and the car chosen by the customer. Are there any criteria I need to meet in order to be eligible for finance? To be eligible for car finance from us, you would need to: Be a major above 18 for Gentlemen, and over 21 for Ladies. Be earning in his / her own capacity (in any other situation a co-hirer will be required). Own a driving license. Provide KMPL with complete documents for processing of loan. See the next question for list of documents. What documentation is involved in available of finance.   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 authorizing one director to execute the agreement. - - - Y Y   Photograph (one signed by the customer) Y Y Y - - TOP