IDBI Car Loan

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IDBI Car Loan

What is Car Loan?

Car Loan is a convenient scheme that provides finance to people for purchasing their dream car. Banks and NBFCs offer various Car Loan Schemes on Easy Interest Rates and Affordable EMIs. After availing a Car Loan, you can repay the loan amount in installments. 

Why IDBI Car Loan?

Are financial problems resisting your desires of buying a car? Press a brake on your out flowing thoughts. Industrial Development Bank of India is here with its best offer on Car Loan. It is well known for its attractive and reliable services. Get the Best IDBI Car Loan with Affordable Interest Rates & EMIs. Loannow will help you in availing the best Car loan, with instant and quick approval. Cherish your life with the ride of a fascinating car. Enjoy the incredible drive and make your life colorful.

Features

  • Funding up to 95% of Car’s ex-showroom price.
  • Loan tenure up to 7 years.
  • Attractive Interest Rate @ 9.50%*
  • Easy and simple documentation.
  • Special Offer for IDBI salary account Customers.

Benefits

  • Flexible and Affordable EMIs.
  • Quick and Instant approval of Loan
  • Attractive deals from associated car dealers.
  • Easy and minimum Documentation.

IDBI Car loan Documents

Documentation required for Car Loan

List of Car Loan documents required

  • Age proof
  • ID proof
  • Application form
  • Photograph
  • Residence proof
  • Income proof
  • Bank statement
  • Signature verification proof
  • Pro-forma Invoice or Rate List

Post Sanction / Pre Disbursement Documentation

  • Loan Agreement duly signed along with RTO set
  • Standing Instruction (SI) Request / ECS Form / Post Date Cheques (PDCs). Security Cheques required for SI and ECS
  • Margin money receipt

 

IDBI Car Loan Eligibility

Eligibility for Car Loan

Banks and NBFCs have different Eligibility Criteria and Conditions. You must be eligible to get a Car Loan. 

Eligibility Individuals as well as Business Concerns (Corporate or non-corporate). Minimum net monthly salary / pension / income – Rs. 20000. The income of spouse / Parent can be added.
Amount Provided For Individuals / Proprietorship Concerns: 25 times of the monthly net salary or Rs. 25 lacs (for one or more vehicles), whichever is lower. The income of parent(s) / spouse can be taken into account for determining the loan amount. In such cases, the parent(s)/ spouse can be the Co-applicant in the Laon.  For Business Concerns (Corporate or non-corporate): No ceiling on loan amount (for one or more vehicles).
Interest Rates New Car: 9.50%* to 10.25%* depending on the segment of vehicle and tenure selected (Floating) Pre-Owned Car: 13.50%* to 15.00%* depending on the segment of vehicle (Floating)

 

* Interest rate can vary as per individual's portfolio.
* All loans repayment period are over 6 months. No short term loans.
* We don't charge the individual for the process.
* Credit at sole discretion of the Banks we have a tie-up with.