IDBI Car Loan Rate, Eligibility Calculator, Apply Online

IDBI Bank Car Loan Offer Feb 2017

Last Updated 27th Feb 2017
Features and Eligibility IDBI Bank New Car Loan Scheme IDBI Bank Used Car Loan Scheme
Interest Rates 9.95% Fixed Check Special Offer Not Available
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
Processing Fee 0.00% Max Rs.
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
Apply Car Loan Online @9.25%*
 Salaried   Self Employed - Professional   Self Employed - Business 

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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)
--Salaried 1.5 0.0
--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.

  • New Car Loan Schemes of All Banks

  • Used Car Loan Schemes of All Banks

Frequently Asked Questions on IDBI Car Loan

How much interest is charged by IDBI on car loan?

IDBI offers an interest of 9.95% on car loan.

What is the lowest EMI per lakh on IDBI car loan?

If you apply for a car loan from IDBI, your lowest EMI per lakh will be Rs. 1,658.

What is the maximum tenure of IDBI car loan?

You can repay your car loan from IDBI in a flexible period of maximum 7 years.

How much car loan I can borrow from IDBI?

IDBI offers you 90.00% of of ex-showroom price of car as loan.

How much processing fee is charged by IDBI on car loan?

IDBI charge a processing fee of 0.00% with applicable service tax.

Is age an eligibility factor to get car loan from IDBI?

Yes, age is an important eligibility factor to get IDBI 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 car loan?

You can take car loan from IDBI 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?

You can combine your income with the income of your spouse to increase your loan eligibility and to get higher loan amount.
IDBI Car Loan Calculator News - Feb 2017
*My Finance Care Advisors Pvt. Ltd., or is a bank neutral multi bank platform that helps borrowers and bank customers compare loans and deposits of all banks in India at one place. Information carried at this website is based on perusal of public sources and should not be construed as an offer or solicitation or invitation to borrow or lend. The Company does not assure as to the correctness of information carried at the website. Lenders/ banks/ other parties may contact us at to provide corrections or updates. We may act as and/ or be associated with channel partners of banks and other sellers of financial products.