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| Introduction |
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| Are you planning to buy a new car and need funds? Indian Bank offers vehicle loan. Bank finances cost of vehicle (if required bank adds one time Road Tax, Registration Fee, Insurance premium and accessories to cost of vehicle for finance). |
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| Highlights |
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New Car |
Used Car |
| Loan Type |
Vehicle Loan Scheme |
Term Loan |
| Ex-Showroom/On Road |
On Road |
On Road |
| Loan Amount |
Maximum Loan amount for purchase of four Wheeler is Rs 2 crores
20 times of Gross Monthly Income Spouse Income can be included for calculating eligible amount if he / she has steady income
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Maximum Loan amount for purchase of four Wheeler is Rs. Rs. 2 Crores
20 times of Gross Monthly Income Spouse Income can be included for calculating eligible amount if he / she has steady income
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| Tenure |
Min. - 12 months.
Max. - 84 months.
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Min. - 12 months.
Max. - 84 months.
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| Interest Rate |
10.75 % |
13.5 % |
| Time to Process Loan |
7 days |
7 days |
| Preferred Manufacturers |
Chevrolet, FIAT, Ford, GENERAL MOTORS INDIA, HINDUSTAN MOTORS, Honda, Hyundai, Mahindra, Maruti, Mercedes-Benz, Mitsubishi, Nissan, Reva, SAN Engineering, Skoda, Tata Motors, Toyota |
Chevrolet, FIAT, Ford, GENERAL MOTORS INDIA, HINDUSTAN MOTORS, Honda, Hyundai, Mahindra, Maruti, Mercedes-Benz, Mitsubishi, Nissan, Reva, SAN Engineering, Skoda, Tata Motors, Toyota |
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 Fees & charges
Fees & charges
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New Car |
Used Car |
| Stamp Duty |
As Per Actuals |
As Per Actuals |
| Legal, Repossession and Incidental Charges |
As Per Actuals |
As Per Actuals |
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| Comment on Charges |
Processing charges: 0.225%
Min- Rs.300
margin- 15% |
Processing charges: 0.225%
Min- Rs.300
margin- 40% |
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Application Process
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Application Process |
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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. |
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