Indusind Bank

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

Rate of Interest

  • Floating Rate of Interest : 10.65%  to  15.50% p.a.

Eligibility Criteria

  • Minimum 21 years of age and maximum 60 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 Indusind Bank

Induslnd Bank Limited is a Mumbai based Indian new generation Bank. It is established in 1994. Indusind bank is the first among the new-generation private banks in India.The bank offers commercial, transactioinal and electronic banking products and services.The bank prides itself. Indusind Bank was inaugurated in April 1994 by then Union Finane. The bank started its operations with a capital amount of Rs. 1 billion among which Rs. 600 million was donated by the Indian Residents and Rs. 400 Million was raised by the Non-Resident Indians.

Your Eligibility depends on following


You should be minimum 21 years old

You should be maximum 60 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

The effective MCLR for various tenures have been provided below.

Sno.

Tenure

MCLR

1

Overnight MCLR

9.00%

2

One month MCLR

9.10%

3

Three month MCLR

9.35%

4

Six month MCLR

9.65%

5

One year MCLR

9.85%

Existing Loan take over or New Loan

Here are some points for you why choose Indusind Bank:

  • Quick loan processing turnaround time with minimal documentation.
  • Tenure of repayment ranges from 12 to 84 months.
  • Transparent paperwork with no hidden costs.
  • An efficient customer service team for assistance.
  • No collateral/guarantor required.

Features of Loan

 Features and Benefits of Indusind Bank Car Loan:

  • Easy online application
  • Faster loan processing
  • Speedy disbursement of the loan amount
  • Loans available for broad range of vehicles and customer segments
  • Attractive interest rates

Documents Required for applying Car loan with Indusind Bank

For Salaried Employees:

Sno.

Verification

Valid proof

1

Borrower Identity

Passport size photo

 

 

2

 

 

 

Proof of Identity

Self-attested photocopy of any one of the following:

Driving License
Passport
Voters ID
Aadhaar Card 
PAN Card

 

 

3

 

 

 

Proof of Residence

Self-attested photocopy of any one of the following
Driving License
Passport
Voters ID
Aadhaar Card.
Utility bills

4

Bank statement for 6 months immediately prior to date of application

5

 

 

Income proof

Self-attested photocopy of any one of the following
Latest 2 yrs IT returns with computation
Salary slips of 3 months immediately prior to the date of application

Self-Employed – Income based:

Sno.

Verification

Valid proof

1

 

Borrower Identity

 

 

Passport size photo

2

 

 

Proof of Identity

Self-attested photocopy of any one of the following:
Driving License
Passport
Voters ID
Aadhaar Card 
PAN Card

3

 

 

Proof of Residence

Self-attested photocopy of any one of the following
Driving License
Passport
Voters ID
Aadhaar Card.
Utility bills

4

 

Bank statement for 6 months immediately prior to date of application

 

5

 

 

 

Business proof

Self-attested photocopy of any one of the following
CST Certificate/ labour act
Proof of ownership of entity
Shop establishment act /ssi certificate
Rental deed/ utility deed in the name of the company

6

Income Proof

Latest 2 yrs IT returns with computation

Self-employed – Non income based:

Sno.

Verification

Valid Proof

 

1

 

Borrower Identity

 

 

Passport size photo

 

 

2

 

 

Proof of Identity

Self-attested photocopy of any one of the following:
Driving License
Passport
Voters ID
Aadhaar Card 
PAN Card

 

 

3

 

 

Proof of Residence

Self-attested photocopy of any one of the following
Driving License
Passport
Voters ID
Aadhaar Card.
Utility bills

4

 

Bank statement for 6 months immediately prior to date of application

 

 

 

5

 

 

 

Business proof

Self-attested photocopy of any one of the following
CST Certificate/ labour act
Proof of ownership of entity
Shop establishment act /ssi certificate
Rental deed/ utility deed in the name of the company