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आईबी वाहन ऋण

आईबी वाहन ऋण

Indian Bank is offering Vehicle Loan for purchase of New Car, New Two Wheeler and Used Car at a competitive rate of interest with the following features:

 

Eligible Customers:

  • Salaried class
  • Professionals
  • Businessmen
  • Self-employed Professionals / Non – Professionals
  • NRIs
  • Pensioners
  • Employees of other banks with NOC from employer concerned
  New Car New Two Wheeler Used Car
Quantum of Loan Upto Rs.2 crores Upto Rs.10 lakhs Upto Rs.1 crore
Maximum Repayment Period 84 months 48 months 72 months
Margin 15% 25% to 30% 30%

 New Vehicle: Loan amount is calculated based on On-Road Price

Used Vehicle: Loan amount is calculated based on Agreed Purchase Price or Valuation of vehicle/price quoted by authorised dealer whichever is lower.

 

Income Criteria:

Type of Occupation New Car New 2 Wheeler Used Car Maximum Eligibility
Salaried person Net Salary of Rs.25000 Net Salary of Rs.10000 Net Salary of Rs.20000 Maximum 48 times of Gross monthly salary.
Pensioner Monthly Pension of Rs.20000 Monthly Pension of Rs.10000 Monthly Pension of Rs.20000 Maximum 36 times of Gross monthly pension.
Professional & Self Employed / Businessmen Net Annual Income of Rs. 3.00 lakhs above as per latest ITR Net Annual Income of Rs. 1.50 lakhs above as per latest ITR Net Annual Income of Rs. 3.00 lakhs above as per latest ITR Maximum of 3 times of average Net annual income for the last two years as per latest ITR
Firms & Companies Should have generated Net Profit during last two years. NA Should have generated Net Profit during last two years.

 

Security:

  • Hypothecation of Vehicle purchased out of the loan amount
  • For loans above Rs.25 lakhs, for portion beyond Rs.25 lakhs, 100% collateral security in the form of immovable properties/NSC/Fixed Deposits/Surrender Value of LIC Policies
  • However, irrespective of loan limit, Tangible security/Guarantee may be insisted based on the risk perception of the individual proposal

 

Charges/Fees:

Rate of Interest Click here
Processing fee Click here
CIBIL Charges Individuals: Rs.30/- per person

Non-Individuals: Rs.805/- per entity
Pre-payment charges ·         Individuals: NIL

·         Non-individuals, 2% on the balance outstanding
EM Charges ·         Upto Rs.10 lakhs: NIL;

·         Above Rs.10 lakhs: Rs.300 per lakh subject to maximum of ₹30000

·         For Extension of EM over the same property, 50% of the applicable EM charges.

 

Documents Required:

  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. Statement of Bank Account or copy of Bank Passbook for 6 months
  11. Copy of Driving License
  12. Quotation for Vehicle to be purchased from the authorized dealer

Apply for loan (Click Here)

( अंतिम संशोधन May 16, 2022 at 03:05:10 PM )

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