Indian Bank New Car Loan

Here are a few factors

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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 Amount100,000
Interest %8 %
Tenure (months)12
Emi (monthly)8,699
Total Interest4,386
Loan Amount + Interest104,386
YearTotal Principal
( A )
Total Interest
( B )
( A + B)
Total Payment Loan Paid Till Date (%)
24,2581,83926,09775,74224.26 %
Oct8,0326678,69991,9688.03 %
Nov8,0866138,69983,88216.12 %
Dec8,1405598,69975,74224.26 %
75,7442,54778,2910100.00 %
Jan8,1945058,69967,54832.45 %
Feb8,2494508,69959,29940.70 %
Mar8,3043958,69950,99549.00 %
Apr8,3593408,69942,63657.36 %
May8,4152848,69934,22165.78 %
Jun8,4712288,69925,75074.25 %
Jul8,5271728,69917,22382.78 %
Aug8,5841158,6998,63991.36 %
Sep8,641588,6990100.00 %
Right Document : Easy Process

Required Documents to Apply for Indian Bank New Car Loan

Salaried income documents

  • KYC of applicant & Co-Applicant
  • Last 3 Month Salary Slip of Applicant
  • Last 12 month Bank Statement of applicant & co-applicant
  • Last 3 year ITR with computation of income of applicant & co-applicant
  • 26AS of last 2 year of applicant & co-applicant
  • Quotation of Car
  • Sanction letter of all running loan
  • Latest utility Bill if owned residence or rent agreement if rented

Self Employed person documents

  • KYC of applicant & Co-Applicant
  • Last 3 year ITR with computation of income of applicant & co-applicant
  • Last 3 year audited balance sheet of applicant
  • Last 3 year Tax audit report of applicant
  • Last 12 month Bank Statement of applicant & co-applicant
  • Copy of GST registration if any
  • Copy of Last 12 month GST return if applicable
  • Quotation of Car
  • Sanction letter of all running loan
  • Latest utility Bill of residence if owned or rent agreement if rented
  • Latest utility Bill of Office if owned or rent agreement if rented
  • List of Directors & Shareholders, if applicant if Company or List of Partners if applicant is Partnership firm/LLP

Some Important Points

1. KYC Means If Applicant is
  • Company-MOA, AOA, COI , PAN Card
  • Partnership Firm/LLP- Partnership Deed & PAN Card
  • Proprietorship Firm- PAN Card, Adhaar Card, Passport size photo
For Co-Applicant
  • KYC means  Adhaar Card, PAN Card, Passport Size Photo
Co-Applicant means in case of
  • Company : Directors
  • Partnership firm/LLP : Partners
  • Proprietorship Firm : Spouse of Proprietor
2. If LAP is applied with Government Bank then 30 year chain is required 3. If applicant is professional, then his professional degree is required

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.

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.