Indian Bank Car Loans

Find details of indian bank car loan through Indian Bank EMI calculator. Just enter the loan amount of car you want to get financed and rate of interest. Indian Bank EMI calculator automatically calculates the installment on reducing balance and it does not have any other processing fee.

Also see :   Car Loan Emi Calculator
Indian Bank
Indian Bank

New Car Loan Rates

Tenure3 Years
Down Payment0.1
Processing FeeRs 250 Per Lakh
Interest Rate9.65%
Document Charges
Indian Bank avails you with host of services and facilities online with which you can get car loan approval in an easier way. The customers who are dreamt of owning their desired car will turn their dream into reality via the golden opportunity provided by Indian Bank. The eligibility criteria set by the bank that any individual having minimum gross income of Rs. 1.00 lakh per annum erases the hindrance that only silver-spooned can purchase the latest available cars. The bank even churns out the repaying capacity of an individual who had applied for loan by extending the tenure up to 8 years for new car while it is 5 years for used cars. Vicky. in proves to be the powerful tool through the provision of accurate information on processing fee, documentation charges, EMI amount of such banks

Loan Eligibility Calculator

Indian Bank Car Loan eligibility, Interest Rate, documents and process



* Salaried Class Individuals. * Businessmen, Professionals and Self-employed . * Pensioners with repayment capacity. * Minimum Gross monthly income for purchase of Four wheeler should be Rs.20,000/-.
  • Amount of Loan-
* 20 times of Gross Monthly Income Spouse Income can be included for calculating eligible amount if he / she has steady income. * Take home Income should be more than 40% of gross income after deduction of EMI for the proposed loan, apart from other deductions. * For Businessmen, Professionals & self-employed, based on their average income earned in the last 3 years and capacity / ability to repay the loan. * Maximum Loan amount for purchase of Two Wheeler : Rs.75,000/-. * Four Wheeler: Rs. 15,00,000/-”
  • Processing fee: 0.225% of loan amount with a maximum of Rs.10000/-
  • Four Wheeler: Maximum 84 EMIs (No holiday period) for salaried class individuals; Maximum 60 EMIs (No holiday period) for others.
  • For 2 wheeler: Maximum 60 EMIs (No holiday period)
    • Documents to be submitted for processing the application:
    1. Completed Application Form with passport size photograph.
    2. Proof of Identity such as PAN Card / Voter’s ID/Passport/Driving License.
    3. Proof of residence such as Recent Telephone Bill / Electricity Bill / Property Tax Receipt / Passport / Voter’s ID.
    4. Proof of business address in respect of businessmen / industrialists.
    5. Proof of Employment.
    6. Salary Certificate.
    7. Proof of other income like rent, interest on investment, if any.
    8. Balance Sheet for the past three financial years in the case of Professionals, Businessmen & Self employed.
    9. Income Tax / Wealth Tax (if applicable) Returns for the past 3 years.
    10. Copy of Driving Licence.
    11. Quotation for Vehicle to be purchased from the authorized dealer