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Own your favorite car with IDBI Bank Auto Loan. This product facilitates you a quick and hassle free procedure of disbursement of the loan amount. IDBI Auto Loan also gives you higher sanction of loan amount so that you could purchase the much awaited premium car that you have longed for so long or maybe the brand new model for which your heart sank.
IDBI Bank Car Loan Quick Approval
IDBI Bank Car Loan Highlights
|Interest Rates||9.85% – 9.45%|
|Part Prepayment Charges||· No part prepayment charges is levied before 6 months of the disbursal of loan
· 1% of the loan amount is charged as part prepayment penalty.
|Foreclosure Charges||· No foreclosure charges is levied before 6 months of the disbursal of loan
· 1% of the loan amount is charged as foreclosure penalty.
|Benefits||· Hassle free disbursement of loan
· Quick processing.
· Flexible repayment period
· Low interest rates
|Eligibility||· Salaried Individuals
· Self-Employed Professionals
· The eligible age to apply for IDBI Auto Loan both salaried as well as self-employed professionals is minimum 18 years.
· The maximum age is 70 years at the time of maturity.
· The minimum Net Annual Income of a salaried individual must be Rs 1,80,000.
· The minimum Net Annual Income of a self-employed professional must be Rs 1,80,000.
|Maximum Loan Amount||The maximum loan amount disbursed is above Rs 1 lacs.|
|Repayment Period||You can repay your loan amount through EMI for a maximum period of 7 years.|
|Documents Required||· Identity Proof : Passport, PAN Card, Election Id card, Driving License, Photo Credit Card, Employers ID 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
· Age Proof : School Leaving Certificate, Passport, Driving License, Election ID Card, Birth Certificate, LIC Policy, PAN Card
· Income Proof : Latest 2 months salary slip, Form 16/ITR for the last 2 years.
· Latest 4 months Bank Statement.
· Balance sheet and ITR for the last 2 years, bank statement of 6 months is required for any self-employed professional or businessman.