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Indian Bank New Car Loan
Indian Bank New Car Loan
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Indian Bank New Car Loan
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Indian Bank New Car LoanHere are a few factors
| Location | 50Km from Branch |
| CIBIL Score | 685+ & Minus 1 CIBIL |
| Loan Amount & Tenure | 1
Lac to 2 Cr (12 month to 84 month) |
| Loan to Value(LTV) | Upto 85% of on Road Price |
| Type of Funded Vehicle | New Car |
| Rate of Interest & Type | Elite Customer-8.65% to 9.15%, General Customer-9.30% to 9.50% (Fixed) |
| Processing Fees | Loan upto 10 Lac-1500, Loan>10 Lac-2000 |
| TAT | Sanction-2
Days Disbursement-3 Days |
| Foreclosure Charges | Individual-NIil, Non Individual-2% |
| Applicant | Any Salaried or Self Employed Person |
| Applicant Age | 18 to 70 Year |
| Applicant Minimum Income | 1.
Salaried having monthly net Salary>25K 2. Self Employed Person having ITR>3 Lac |
| Business Vintage for Self Employed Applicant | 2 Year |
| Minimum Job Experience for Salaried Applicant | 1 Year |
| Whether Co-Applicant Mandatory | No |
| Part Payment Allowed | Yes |
| Product | 1.
Salaried- 48 Time of gross monthly Salary 2. Self Employed-3 time of average annual income of last 2 year |
| Negative Profile | No Negative Profile |
| USP | 1.
Funding to NRI aswell 2. Funding to Pensioner also |
| Additional | If Customer is purchasing electric Car, then rate of interest is 5 ps less |
Indian Bank New Car Loan EMI Calculator
Interest Type
Loan Amount
Interest Rate
Loan Tenure
| Loan Amount | ₹100,000 |
| Interest % | 8 % |
| Tenure (months) | 12 |
| Emi (monthly) | ₹ 8,699 |
| Total Interest | ₹ 4,386 |
| Loan Amount + Interest | ₹ 104,386 |
| Year | Total Principal ( A ) | Total Interest ( B ) | Balance ( A + B) | Total Payment | Loan Paid Till Date (%) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ₹ 24,258 | ₹ 1,839 | ₹ 26,097 | ₹ 75,742 | 24.26 % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ₹ 75,744 | ₹ 2,547 | ₹ 78,291 | ₹ 0 | 100.00 % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Required Documents to Apply for Indian Bank New Car Loan
Salaried income documents
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KYC of applicant & Co-Applicant
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Last 3 Month Salary Slip of Applicant
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Last 12 month Bank Statement of applicant & co-applicant
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Last 3 year ITR with computation of income of applicant & co-applicant
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26AS of last 2 year of applicant & co-applicant
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Quotation of Car
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Sanction letter of all running loan
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Latest utility Bill if owned residence or rent agreement if rented
Self Employed person documents
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KYC of applicant & Co-Applicant
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Last 3 year ITR with computation of income of applicant & co-applicant
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Last 3 year audited balance sheet of applicant
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Last 3 year Tax audit report of applicant
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Last 12 month Bank Statement of applicant & co-applicant
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Copy of GST registration if any
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Copy of Last 12 month GST return if applicable
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Quotation of Car
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Sanction letter of all running loan
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Latest utility Bill of residence if owned or rent agreement if rented
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Latest utility Bill of Office if owned or rent agreement if rented
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List of Directors & Shareholders, if applicant if Company or List of Partners if applicant is Partnership firm/LLP
Some Important Points
- Company-MOA, AOA, COI , PAN Card
- Partnership Firm/LLP- Partnership Deed & PAN Card
- Proprietorship Firm- PAN Card, Adhaar Card, Passport size photo
- KYC means Adhaar Card, PAN Card, Passport Size Photo
- Company : Directors
- Partnership firm/LLP : Partners
- Proprietorship Firm : Spouse of Proprietor
About Indian Bank New Car Loan
Indian Bank has become a trusted banking partner for years because of a tradition of trust, customer-centricity, and financial knowledge. They offer a financing solution that brings together affordable interest rates, swift processing, and personalized attention to make your car-owning experience as easy and enjoyable as possible.
Indian Bank is here to provide you with the financial resources and dependability you need to buy the car that you have. Your journey towards exciting adventures starts here with the Indian Bank New Car Loan.
Save Your Time with a Simple Loan Process
Visit Our Website
For the first step, you will have to visit our website to explore the loan options that fit your needs.
Select and Apply
Once you shortlist the loan you have been looking for, apply for it, and proceed with the further process.
Submit Your Document
One of the most important steps. Now you will have to submit all the required documents digitally.
Enjoy Your Financial Freedom!
Once your application is approved based on your eligibility, you will receive your loan amount shortly.
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