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IDFC Bank New Car Loan
Nowadays, it's simpler than ever before to own the automobile of your dreams because of instant access to new auto loans. You won't have any trouble repaying the loan with the help of numerous payment options. You may get auto loans from IDFC Bank for up to 100% of the sticker price. The greatest new auto loan rate in India is available to you; check here to learn more about the best rate being offered.Powered By
IDFC Bank New Car Loan
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Here are a few factors
| Security | We request no collateral for our loan. |
| Loan Amount | Starting from Rs.1,50,000 |
| Tenure | Starting from 12 months to a maximum of 120 months |
| Interest Rates | The rate of interest offered by IDFC bank car loans varies on used or new cars from 7.49% to 9.50% |
| Required salary | Minimum 20k (Monthly salary * 12*4= Loan eligibility) |
| Purpose of loan | Purchase of a car |
Save Your Time with a Simple Loan Process
Visit Our Website
For the first step, you will have to visit our website to explore the loan options that fit your needs.
Select and Apply
Once you shortlist the loan you have been looking for, apply for it, and proceed with the further process.
Submit Your Document
One of the most important steps. Now you will have to submit all the required documents digitally.
Enjoy Your Financial Freedom!
Once your application is approved based on your eligibility, you will receive your loan amount shortly.
Benefits & Features of IDFC Bank New Car Loan
IDFC bank is one of the great growing banks in our country, offering some below benefits for the car loan applicants:
Documents required for an IDFC bank car loan
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For Salaried individuals who are eligible for the car loan:
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Salary slips for the last two months
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One last year ITR form or FORM 16
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Bank statements for the last 6 months
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Loan repayment track if there is any
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For Self-employed individual who is eligible for the car loan:
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Balance sheets of the business
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The credit card statements for the last 6 months
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Bank statements for the last 6 months
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Account of both the borrower and the co-borrower
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Loan repayment track if there is any
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Photo identity proof
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Address proof
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Telephone bill or electricity bill
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Pre Loan Sanction Document:
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Your KYC Proofs
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The last 3 months' bank statements for Repurchasing
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The 6 months bank statements against your car
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Your Car’s RC
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Post Loan Sanction Document:
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The Agreement with the bank
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Your car insurance
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Your post-dated security cheques
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Loan repayment tracks if any
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All about taking a Car Loan
A car loan helps you at that point where you do not have money to purchase your car. When you take a car loan, you get an option to pay off the loan in monthly payments. Before planning to take a car loan, you just need to be prepared with below few basic pointers:
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Be prepared with the downpayment budget
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Be prepared to pay the monthly payments
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Decide for how long you need the loan for
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Decide upon the rate of interest you would like to take the loan.
Eligibility Criteria
Any individual who wants to avail of a car loan from the IDFC Bank must meet the below eligibility criteria:
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The minimum age should be 23 years
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The maximum age should be 70 years
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Should have a running business for at least 4 years.
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The minimum net worth should be at least Rs. 1.5 Lakhs per annum
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The tenure of the loan is between 12 months - 300 months
FREQUENTLY ASKED QUESTIONS
You just need to call 8448986445 this number and the bank representative will call you back to discuss the car loan.
IDFC bank will offer you 95% of the ex-showroom price of the car.
for the down payment, you can pay as much as you want, because it's like the more you pay and the lesser debt you will be in.
Yes, IDFC Bank offers a partial repayment option with their car loan.
If you're self-employed, your credit score must be at least 750; if you're salaried, it needs to be at least 700. For a 100% loan on a car, you must fulfil additional requirements in addition to your credit score.
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