Indian Bank Car Loan Rate, Eligibility Calculator, Apply Online
Indian Bank Car Loan Offer May 2017
|Features and Eligibility||Indian Bank New Car Loan Scheme||Indian Bank Used Car Loan Scheme|
|Interest Rates||9.95% Floating
Check Best Offers
|Maximum Loan Amount Eligibility||85.00% of on-road price||60.00% of market value|
|Maximum Loan Tenure (years)||7 years||5 years|
|Lowest EMI per Rs. One Lakh Loan Amount (Rs.)||Rs. 1,658||Rs. 2,122|
|Processing Fee||0.22% Max Rs. 10191||0.22% Min Rs. 0 Max Rs. 10000|
|Prepayment Charges||Not allowed||Not allowed|
|Interest Calculation||Monthly reducing balance||Monthly reducing balance|
|Age (years)||Between 21 years and 65 years||Between 21 years and 65 years|
Eligibility Condition for Indian Bank Car Loan
|Indian Bank New Car Loan Scheme||Indian Bank Used Car Loan Scheme|
|Minimum Net Annual Income (Rs. lakh)|
|Self employed professionals||2.4||2.4|
|Self employed businessmen||2.4||2.4|
- 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 Indian Bank Car Loan
Indian Bank car loan interest rates today are 9.95% .What is the lowest EMI per lakh on Indian Bank car loan?
If you apply for a car loan from Indian Bank, your lowest EMI per lakh will be Rs. 1,658.What is the maximum tenure of Indian Bank car loan?
You can repay your car loan from Indian Bank in a flexible period of 7 years.How much car loan I can borrow from Indian Bank?
Indian Bank offers you 85.00% of on-road price of car as loan.How much processing fee is charged by Indian Bank on car loan?
Indian Bank charges a processing fee of of % of loan amount Min. Rs. number_format(0) and Max. Rs. number_format(10191) with applicable service tax.Is age an eligibility factor to get car loan from Indian Bank?
Yes, age is an important eligibility factor to get Indian Bank car loan as you should be at least 21 years old at loan approval time and 65 years old at loan maturity time.Are there any prepayment charges on Indian Bank car loan?
You can take car loan from Indian Bank with Not allowed prepayment charges.Can I add my spouse's income while applying for car loan from Indian Bank?
You can combine your income with the income of your spouse to increase your loan eligibility and to get higher loan amount.