Getting to drive your dream vehicle can make life seem so much better. Which is why, at IDBI Bank, we offer you Express Auto Loans, with the single minded aim of getting the vehicle you desire. Easy and quick, these loans make sure you take on the roads the way you want to. So, what are you waiting for? Just rush to book your dream machine, while we take care of your loan requirement
Features and Benefits
- Maximum Funding
- Covers wide range of vehicles and high end bikes
- Repayment period up to 60 months.
- Repay with easy EMIs.
- Hassle-free documentation.
| Eligibility Criteria | |
| | Salaried: - Min age of the applicant: 22 years.
- Max age of the applicant: 65 years.
- Min. 2 years in service.
- Min. Annual Income of Rs. 1,50,000/-
- Income proof: Salary Slip, Form 16/ ITR, Bank statement showing salary credit.
Self-Employed Professionals: - Min age of the applicant: 22 years.
- Max age of the applicant: 65 years.
- Min. 2 years in profession.
- Min. Annual Income of Rs. 1, 50,000/-
- Income proof: for Last 2 years with computation of income / certified financials, Balance Sheet, P & L A/c, Bank statement.
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| Documentation | |
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Age Proof: - School Leaving Certificate
- Passport
- Driving License
- Election ID Card
- Birth Certificate
- LIC Policy
- PAN Card
| Address Proof: - Passport
- Driving license
- Election Id card
- Telephone Bill/Electricity Bill
- Title deed of property/Rental Agreement
- Employers letter
- Sales Tax RC/ITR/Form 18
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Identity Proof: - Passport
- PAN Card
- Election Id card
- Driving License
- Photo Credit Card
- Employers ID Card
| - Income Proof: Latest 2 months salary slips; Form 16/ ITR for last 2 years; Bank Statement reflecting salary credits for 4 months.
- Bank Statement: - Income Statement, Balance Sheet and ITR for last 2 years, Bank Statement for 6 months.
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| Fee & Charges | |
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| Processing Fees |
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- For Segment A & B Vehicles: Rs. 2500 + applicable service tax
- For Segment C & D Vehicles: Rs. 5000 + applicable service tax.
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| Documentation Charges As per actual Cost |
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| | Repayment | |
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| | Repayment is done through Equated Monthly Installments (EMIs) comprising both principal and interest. Servicing of EMI would be through | |
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| | - Post Dated Cheques (PDCs)
- Standing Instruction
- ECS
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| | Foreclosure Charges: | |
| | - Within 2 years from the date of Disbursement: 2% of the loan amount outstanding.
- After 2 years: Nil if paid from own sources.
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- Attractive Interest rates.
- Tie-ups with Dealers and Manufacturers
