IDBI Bank

Bank Name
Interest Rate Range
Processing Fee Range
Loan Amount
Tenure Range
Action

Rate of Interest

  • Floating Rate of Interest : 9.90%  to 9.95% p.a.
  • Fixed Rate Of Interest 9.95% p.a.

Eligibility Criteria

  • Minimum 18 years of age and maximum 70 years
  • Loan period from 1 years to 7 years
  • Should be either salaried or self-employed and have regular source of income
  • Should have sufficient income to pay EMI on required loan
  • Applicant must be Indian Citizen, in case of NRI or person of Indian origin it should be properly documented

Fees and Charges

  • Processing Fee 0.50%  depends on type and category of borrower
  • Preclosure Charges – Rs 0
  • Part Payment charges- Rs 0
  •  No any other hidden charges

Documents Required

  • KYC- Pan Card, Adhar Card, ID Proof and Address proof
  • ITR with computation for 3 years with Income proof
  • Bank Statement
  • Photograph
  • 2 references

Value Additions

  • Doorstep services
  • E- approvals
  • Part payment allowed

Special Feature

  • No guarantor required
  • No pre-closure or part payment fees
  • Balance Transfer Allowed
  • Top up available

Overview about IDBI Bank

IDBI bank is an Indian government-owned financial service company, it is formerly known as Industrial Deelopment Bank Of India.it’s headquartered in Mumbai, India. If you apply car loan on IDBI Bank then you can easy to avail loans, quick documentation and no other hassles in the process. IDBI was mainly started in order to provide financial support to the Indian industry

Your Eligibility depends on following


You should be minimum 18 years old

You should be maximum 70 years old

You should be salaried or self employed

You should have sufficient income to pay EMI on required loan

You can increase your eligibility by doing following

Minimum income required Rs.25,000 per month
EMIs of other loans loweryour eligibility
Pay off your credit card bills
Choose longer tenure loan up to 7 years

Rate of Interest and Other Charges for New Car Loan are following

Rate of Interest :

Sno.

Loan Type

Rate Of Interest

1

New Car Loan(Floating)

 9.90%  to 9.95% p.a

2

New Car Loan(Fixed)

9.95% p.a.

Existing Loan take over or New Loan

Why you should choose IDBI Bank:

  • Enjoy attractive interest rates
  • Easily calculate Car Loan value
  • Avail of special schemes and benefits
  • Choose your tenure

Features of Loan

 Features and benefits of IDBI Car Loan:

  • Maximum Funding: IDBI Bank will help you get a higher sanction for funding your dream Vehicle.
  • 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
  • EMI on reducing balance: Repayment with easy EMIs and avail the loan for up to 7 years

Documents Required for applying Car loan with IDBI Bank

  1. Age Proof (Any one from these)
  • PAN Card
  • Passport
  • Voter ID
  • Aadhaar Card
  • School or College Leaving Certificate.
  1. Identity Proof (Any one from these)
  • PAN Card
  • Passport/Voter ID
  • Aadhaar Card
  • Driving License
  1. Residence Proof (Any one from these)
  • Passport
  • Voter ID
  • Electricity Bill
  • Telephone Bill
  • Life Insurance Policy
  1. Signature Verification Proof
  • PAN Card
  • Passport
  • Aadhaar Card
  • Any Other Documents Supporting Signature Proof
  1. Bank Statement
  • Bank Statement of Last 3-6 Months
  1. Income Proof

                  For Salaried-

  • Salary Slip of Last 3-6 Months.
  • Form 16 of Last 2 years.

                  For Self Employed-

  • ITR of Last 3 Years Profit & Loss A/C Statement
  • Audited Balance Sheet for Last 3 Years