Kotak Car Loan EMI Calculator
Calculate monthly EMIs for buying a new car with Kotak Prime vehicle financing starting at 8.70% p.a.
✓
Official Rate Formula & Benchmark:
Kotak Prime Car Loans offer vehicle financing up to 90% of on-road vehicle price starting at 8.70% p.a.
Current official starting rate: 8.70% p.a. (Range: 8.70% – 12.00% p.a.).
Kotak Car Loan EMI Calculator
Interactive calculation engine using official Kotak Bank rates
Official Kotak Bank Rate (8.70%)
₹8,00,000
₹1.00 L₹2.00 Cr
%
5.00%Published range: 8.7% - 12%20.00%
5 Years(60 mo)
1 Yr30 Yrs
Monthly EMI
₹16,490
For 5 years at 8.70% p.a. reducing balance
Principal Loan Amount₹8,00,000
Total Interest Payable₹1,89,433
Total Amount Payable₹9,89,433
Principal (80.9%)Interest (19.1%)
Calculated according to standard Indian banking methodology (Quarterly compounding for deposits, monthly reducing balance for loans).
Yearly Repayment Schedule
| Year | Principal Paid | Interest Paid | Total Paid | Balance |
|---|---|---|---|---|
| Year 1 | ₹1,33,521 | ₹64,359 | ₹1,97,880 | ₹6,66,479 |
| Year 2 | ₹1,45,612 | ₹52,268 | ₹1,97,880 | ₹5,20,867 |
| Year 3 | ₹1,58,798 | ₹39,083 | ₹1,97,880 | ₹3,62,070 |
| Year 4 | ₹1,73,177 | ₹24,703 | ₹1,97,880 | ₹1,88,893 |
| Year 5 | ₹1,88,893 | ₹9,021 | ₹1,97,913 | ₹0 |
Rate Verification & Official Notice
Verified Official Published RateLast verified:
Rate Methodology →Headline / Starting Rate
8.70% p.a.
Effective Rate Range
8.70% – 12.00% p.a.
fixed RateBenchmark Index
RBI Repo Linked / Card Rate
Applicable Conditions & Eligibility Factors:
- Financing up to 90% of on-road price
- Tenure up to 7 years
Source: Kotak Vehicle Finance Rates
Rates subject to borrower risk-grade & RBI regulatory changes.How It Works
- 1Financing up to 90% of on-road vehicle price.
- 2Flexible repayment tenures.
Key Factors Influencing Your Rate
- •CIBIL score
- •Car segment
Worked Numerical Example: Kotak Car Loan EMI Calculator
Principal₹8,00,000
Rate Applied8.7% p.a.
Tenure5 Years
Monthly EMI₹16,490
For a ₹8,00,000 loan at 8.70% p.a. for 5 years (60 months), your monthly EMI is ₹16,490, with total interest of ₹1,89,433.
Frequently Asked Questions: Kotak Car Loan EMI Calculator
- Starting rate?
- 8.70% p.a.
- Max tenure?
- Up to 7 years.