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Car Loans India - IDBI Bank Auto Loan
Home > Loan > Auto Loan

Car Loans India - IDBI Bank Auto Loan
Getting to drive your dream vehicle can make life seem so much better. IDBI Bank offers Express Auto Loans for your dream vehicle. Our Auto loans are easy and quick to avail and we make sure you take on the roads faster with our quick processing of the loan. So, what are you waiting for? Just rush to book your dream car or bike, while we take care of your loan requirement.

Read through the benefits and apply for a home loan now.


The IDBI Bank Auto Loan Advantage

Maximum Funding: IDBI Bank will help you get a higher sanction for funding your dream Vehicle

Wide coverage on Vehicles: Our Auto loan covers wide range of car's, suv's and high end bikes

EMI on reducing balance: Repayment with easy EMIs and avail the loan for upto 5 years

Attractive Interest rates: To ensure a smooth ride our Auto loans offer attractive rate of interest

Tie-ups with Dealers and Manufacturers: We have the tie-ups with dealers and Manufactures of vehicles and we make sure you will get the best deal


Features

  1. Eligibility Criteria: IDBI Bank offers Auto loans for both Salaried and self- employed professionals at attractive interest rates.

    Salaried:
    • Min age of the applicant: 22 years
    • Max age of the applicant: 65 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: for Last 2 years with computation of income / certified financials, Balance Sheet, P & L A/c, Bank statement


  2. Hassle-free documentation: Our representative will guide you through the easy Auto loan application and can make life seems much better

    List of documents required for Auto loan

    Age Proof:
    • School Leaving Certificate
    • Passport
    • Driving License
    • Election ID Card
    • Birth Certificate
    • LIC Policy
    • PAN Card
    		 Address Proof:
    • Passport
    • Driving license
    • Election Id card
    • Telephone Bill / Electricity Bill
    • Title deed of property / Rental Agreement
    • Employers letter
    • Sales Tax RC / ITR / Form 18
    Identity Proof:
    • Passport
    • PAN Card
    • Election Id card
    • Driving License
    • Photo Credit Card
    • Employers ID Card
    		 Income Proof: Latest 2 months salary slips; Form 16/ ITR for last 2 years; Bank Statement reflecting salary credits for 4 months

    Bank Statement: Income Statement, Balance Sheet and ITR for last 2 years, Bank Statement for 6 months


  3. Fee & Charges: Nominal processing fees is applicable

    Processing Fee:
    • For Segment A & B Vehicles
      Rs. 2500 + applicable service tax
    • For Segment C & D Vehicles
      Rs. 5000 + applicable service tax
    		 Documentation charges:
    • As per actual cost


  4. Repayment: Repayment is done through Equated Monthly Instalments (EMIs) comprising both principal and interest.

    Servicing of EMI would be through:
    • Post Dated Cheques (PDCs)
    • Standing Instruction
    • ECS
    		Foreclosure Charges:
    • Within 2 years from the date of Disbursement: 2% of the loan amount outstanding
    • After 2 years: Nil if paid from own source



How to Apply

Applying for an Auto Loans is absolutely simple. Just call Phone Banking numbers or visit your Nearest Branch. Our representative will contact you at the earliest.
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