IDBI Bank Car Loan

Auto Loan

Getting to drive your dream vehicle can make life seem so much better. Which is why, at IDBI Bank, we offer you Express Auto Loans, with the single minded aim of getting the vehicle you desire. Easy and quick, these loans make sure you take on the roads the way you want to. So, what are you waiting for? Just rush to book your dream machine, while we take care of your loan requirement.

Features and Benefits

• Maximum Funding
• Covers wide range of vehicles and high end bikes
• Repayment period up to 60 months.
• Repay with easy EMIs.
• Hassle-free documentation.
• Attractive Interest rates.
• Tie-ups with Dealers and Manufacturers

Eligibility Criteria

Salaried:

• Min age of the applicant: 22 years.
• Max age of the applicant: 60 years.
• Min. 2 years in service.
• Min. Annual Income of Rs. 1,50,000/-
• Income proof: Salary Slip, Form 16/ ITR, Bank statement showing salary credit.

Self-Employed Professionals:

• Min age of the applicant: 22 years.
• Max age of the applicant: 65 years.
• Min. 2 years in profession.
• Min. Annual Income of Rs. 1, 50,000/-
• Income proof: Balance Sheet, P & L A/c, Form 16 A/ ITR, Bank statement showing salary credit.

Documentation

Fee & Charges           Processing Fee

• Up to 7 lakh: 0.5% of the loan amount or Rs. 2500, whichever is lower + applicable service tax
• Above 7 lakh: 0.75% of the loan amount or Rs.7500, whichever is lower + applicable service tax.

Documentation charges

• 0.2% of the Loan Amount.

Repayment

Repayment is done through Equated Monthly Installments (EMIs) comprising both principal and interest. Servicing of EMI would be through

• Post Dated Cheques (PDCs)
• Standing Instruction

ECS