IDBI Car Loan Rate, Eligibility Calculator, Apply Online
IDBI Bank Car Loan Offer Apr 2017
|Features and Eligibility||IDBI Bank New Car Loan Scheme||IDBI Bank Used Car Loan Scheme|
|Interest Rates||9.95% Fixed
Check Best Offers
|Maximum Loan Amount Eligibility||90.00% of ex-showroom price||Not Available|
|Maximum Loan Tenure (years)||7 years||Not Available|
|Lowest EMI per Rs. One Lakh Loan Amount (Rs.)||Rs. 1,658||Rs. 0|
|Prepayment Charges||No prepayment allowed for 6 months; 1% foreclosure||Not Available|
|Interest Calculation||Monthly reducing balance||Not Available|
|Age (years)||Between 18 years and 70 years|
Eligibility Condition for IDBI Bank Car Loan
|IDBI Bank New Car Loan Scheme||IDBI Bank Used Car Loan Scheme|
|Minimum Net Annual Income (Rs. lakh)|
|Self employed professionals||1.5||0.0|
|Self employed businessmen||1.5||0.0|
- Car loan EMI calculation varies from bank to bank depending upon the method of calculation.
- The standard convention should be to use the EMI in arrears method on reducing balance basis – whereby you pay interest on the car loan amount outstanding on a reducing basis at or after the end of the month.
- Simply key in the loan amount, rate of interest and car loan tenure here and check the EMI amount using the
car loan EMI calculator here. In case the EMI amount displayed is different from the one advised to you by the agent, you must check the calculation basis with your car loan agent.
Frequently Asked Questions on IDBI Car Loan
IDBI car loan interest rates today are 9.95% .What is the lowest EMI per lakh on IDBI Bank car loan?
If you apply for a car loan from IDBI Bank, your lowest EMI per lakh will be Rs. 1,658.What is the maximum tenure of IDBI Bank car loan?
You can repay your car loan from IDBI Bank in a flexible period of 7 years.How much car loan I can borrow from IDBI Bank?
IDBI Bank offers you 90.00% of ex-showroom price of car as loan.Is age an eligibility factor to get car loan from IDBI Bank?
Yes, age is an important eligibility factor to get IDBI Bank car loan as you should be at least 18 years old at loan approval time and 70 years old at loan maturity time.Are there any prepayment charges on IDBI Bank car loan?
You can take car loan from IDBI Bank with No prepayment allowed for 6 months; 1% foreclosure prepayment charges.Can I add my spouse's income while applying for car loan from IDBI Bank?
You can combine your income with the income of your spouse to increase your loan eligibility and to get higher loan amount.