Indian Bank Car Loan Interest Rate at 10.15% to 12.90%

INTEREST RATE10.15% to 12.90%
LOAN TENUREMax. 84 EMI
PROCESSING FEEAs decided by the bank from time to time
GUARANTOR REQUIREDNo
PRE CLOSURE CHARGESAs decided by the bank from time to time
Note: Updated on 19 Nov 2021, for latest interest rates, please visit bank website.

About Indian Bank

Indian Bank is a public sector bank in india with total assets 3088 crore. It has headquarter in Chennai. Indian Bank was founded on 15-08-2007. It has 2409 branches and total assets 30882344 ATMs across India.

It provides all the financial services to its customers like saving deposit, fixed deposit, recurring deposit, home loans, personal loan, car loan, education loan, gold loan, PPF account, lockers, netbanking, mobile banking, RTGS, NEFT, IMPS, E-Wallet, Atal Pension Yojana, Pradhan Mantri Jandhan Yojana, Pradhan Mantri Suraksha Bima Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana and many more.

Find details about Indian Bank which includes Indian Bank Official Website, Indian Bank ATMs accross the India, Indian Bank Branches accross the India, Indian Bank Contact Numbers, Indian Bank official EmailID, Indian Bank Headquarter and Indian Bank Headquarter Address. Find Indian Bank Car loan purpos, Eligibility, Margin, Repayment of Car Loan ,Security, Documents Required for Car Loan from below.

Other Products of Indian Bank:

Home LoanPersonal Loan
Education LoanBusiness Loan
Car LoanTwo Wheeler Loan
Gold LoanFD Interest Rates
RD Interest RatesBank ATMs
PPF Account 

Indian Bank Car Loan Purpose

For purchase of New | Used Four Wheeler (Used four wheeler should not be more than 3 years and should be certified by reputed automobile engineer | valuer).

Indian Bank Car Loan Eligibility

  1. Age: 21 to 60 years.
  2. Permanent employees of State/Central Govt., Public Sector Undertakings, Corporations, Private Sector Companies and reputed establishments.
  3. Professionals, self-employed and others who are income tax assessees and persons engaged in agriculture and allied activities.

Indian Bank Car Loan Documents Required

  1. Applicant's latest photograph.
  2. Age Proof- Mark sheets/pass certificates of S.S.C., H.S.C, Degree courses (Optional)
  3. KYC (Know Your Customer) Documents.
  4. Identity Proof (any one): Voter's ID, PAN card, driving license, passport.
  5. Address Proof (any one): Voter's ID, PAN card, driving license, passport, electricity bill, telephone bill or ration card.
  6. Income Proof (any one): Latest salary slip, previous year's Form 16, bank statement for the last 6 months.
  7. Bank Statement or Bank Pass Book of having entries of last 6 months

Indian Bank Car Loan Amount

For Salaried Class: 20 times of Gross monthly Salary (Income of spouse may be included).
For professionals and Businessmen: 20 Months Income - to be calculated based on their average income earned in the last 2 years and ability to repay the loan.
Maximum loan ceiling: Rs. 2 Crore

Margin

15% for new vehicle.
40% for used vehicle

Indian Bank Car Loan Repayment

Maximum 84 Months

Security

Hypothecation of Vehicle to be purchased out of Loan.
* If the loan amount exceeds Rs. 10 lakhs, additional security equivalent to amount exceeding Rs. 10 lakhs to be provided in the form of Fixed Deposit Receipts | NSCs | LIC Policy (with surrender value equivalent to the security to be provided) | Mortgage of immovable property.

Tips to Manage Car Loan in a Better Way

(1) Make Proper Schedule for EMIs to be paid

You must make a proper schedule for payment of your EMIs in time and without any hassle or burden.

(2) Never Skip any Payment

Automatic transfer from your bank account is the best option that will make sure that the EMIs are paid every month without fail. In this way, none of the EMIs will skip. This will also help improving your credit score.

(3) Keep Loan Tenure Small

You must keep the car loan tenure as small as possible if your finances permit. It will be beneficial for you in two ways. First, you will get rid of loan in an early manner and second, your interest outgo will be very less as compared to longer tenure car loans.

(4) Make one Extra Payment Every Year

You must try to make an extra payment of loan amount each year. You can do so when you receive any funds like bonus etc. It will reduce your loan tenure or EMIs.

(5) Refinance your Car Loan

You must keep watching other institutions who are offering car loans and their interest rates. If other institution is offering you a car loan at lower interest rate, it would be beneficial to get your car loan refinanced from that institution.

Benefits of Car Loan

  • Higher Loan Amount: Banks offer you a car loan of up to 80-100% of the on-road price of the car in case of new cars. The on-road price of a car includes the ex-showroom price, state government tax and insurance cost of the car.
  • No Need to Liquidate your Investments: If you avail car loan then there is no need to liquidate your investments which you have made for some other purposes.
  • Flexible Tenure: You can go for any loan repayment tenure ranging from 1 year to 7 years according to your choice.
  • Tax Benefits: Car Loan can help you save on tax if you are a self-employed person/ businessman and use the car for legitimate business purposes. If you are a self-employed person/ businessman, you can claim the interest paid on car loan as a business expense. In this way, your taxable income will get reduced by the amount of interest you have paid in a financial year on car loan.

Contact details of Indian Bank, Indian Bank SMS balance check number, Indian Bank SMS banking, Indian Bank mobile banking, Indian Bank toll free number,Indian Bank toll free number 24*7, Indian Bank miss call number.

  • MISSED CALL NUMBERS - 9289592895
  • CUSTOMER CARE NUMBERS - 180042500000, 044-25262999, 044-25220138, 044-25221320
  • CONTACT NUMBERS - 18004254422, 044-25260335, 044-25251185, 044-25222841, 044-25210338

Indian Bank Contact Details

  • BANK OFFICIAL WEBSITE - https://indianbank.in/
  • CONTACT NUMBERS - 18004254422, 044-25260335, 044-25251185, 044-25222841, 044-25210338
  • EMAIL ID - indmail@indianbank.co.in, atmhotlist@indianbank.co.in, creditcard@indianbank.co.in
  • MISSED CALL NO. - 9289592895
  • CUSTOMER CARE NO. - 180042500000, 044-25262999, 044-25220138, 044-25221320
  • TOTAL BRANCHES - 2409
  • TOTAL ATMS - 2344
  • HEADQUARTER - Chennai
  • BANK ADDRESS - Central Office,763, Anna Salai, P.B. No. 3765, Chennai-600 02.
Indian Bank EMI Calculator Indian Bank Branches  
Indian Bank Car Loan FAQsCar Loan Document Required

Other Banks Car Loan Interest Rates

Abhyudaya Cooperative Bank LimitedAhmedabad Mercantile Cooperative Bank
Akola Urban Coop Bank Allahabad Bank
Allahabad Up Gramin BankAmanath Cooperative Bank Ltd. Bangalore
Andhra BankAndhra Pradesh Grameena Vikas Bank
Andhra Pragathi Grameena BankApna Sahakari Bank Limited
Arunachal Pradesh Rural BankAssam Gramin Vikash Bank
Au Small Finance Bank LimitedAxis Bank
Bandhan Bank LimitedBangiya Gramin Vikash Bank
Bank Of BarodaBank Of India
Bank Of MaharashtraBaroda Gujarat Gramin Bank
Baroda Rajasthan Kshetriya Gramin BankBaroda Up Gramin Bank
Bassein Catholic Cooperative Bank LimitedBharat Cooperative Bank (mumbai) Ltd., Mumbai
Bharati Sahakari BankBharatiya Mahila Bank Limited
Bihar Gramin BankBombay Mercantile Co Op Bank Ltd
Canara BankCapital Small Finance Bank Limited
Catholic Syrian Bank LimitedCentral Bank Of India
Central Madhya Pradesh Gramin BankChaitanya Godavari Grameena Bank
Chhattisgarh Rajya Gramin BankCitizen Credit Cooperative Bank Limited
City Union Bank LimitedCorporation Bank
Dcb Bank LimitedDena Bank
Dena Gujarat Gramin BankDhanalakshmi Bank
Dombivli Nagari Sahakari Bank LimitedEllaquai Dehati Bank
Equitas Small Finance Bank LimitedEsaf Small Finance Bank Limited
Export Import Bank Of IndiaFederal Bank
Fincare Small Finance Bank LtdGramin Bank Of Aryavart
Hdfc BankHimachal Pradesh Gramin Bank
Icici Bank LimitedIdbi Bank
Idfc Bank LimitedIndian Bank
Indian Mercantile Cooperative Bank Ltd.Indian Overseas Bank
Indusind BankJalgaon Janata Sahakari Bank Limited
Jammu And Kashmir Bank LimitedJammu And Kashmir Grameen Bank
Janakalyan Sahakari Bank LimitedJanalaxmi Coop Bank
Janata Sahakari Bank LtdJharkhand Gramin Bank
Kallappanna Awade Ichalkaranji Janata Sahakari Bank LimitedKalupur Commercial Cooperative Bank
Kalyan Janata Sahakari BankKapol Cooperative Bank Limited
Karnataka Bank LimitedKarnataka Vikas Grameena Bank
Karur Vysya BankKashi Gomti Samyut Gramin Bank
Kaveri Grameena BankKerala Gramin Bank
Khamgaon Urban Co Op Bank LtdKotak Mahindra Bank Limited
Langpi Dehangi Rural BankLaxmi Vilas Bank
Madhya Bihar Gramin BankMadhyanchal Gramin Bank
Mahanagar Cooperative BankMaharashtra Gramin Bank
Malwa Gramin BankManipur Rural Bank
Meghalaya Rural BankMizoram Rural Bank
Nagaland Rural BankNagar Urban Co Operative Bank
Nagpur Nagarik Sahakari Bank LimitedNarmada Jhabua Gramin Bank
Nasik Merchants Cooperative Bank Ltd.New India Cooperative Bank Limited
Nkgsb Cooperative Bank LimitedNorth East Small Finance Bank Limited
Nutan Sahakari Bank LtdOdisha Gramya Bank
Oriental Bank Of CommercePallavan Grama Bank
Pandyan Grama BankPaschim Banga Gramin Bank
Pragathi Krishna Gramin BankPrathama Bank
Pravara Sahakari Bank LtdPuduvai Bharathiar Grama Bank
Punjab And Maharshtra Cooperative BankPunjab And Sind Bank
Punjab Gramin BankPunjab National Bank
Purvanchal Gramin BankRajarambapu Sahakari Bank Ltd
Rajasthan Marudhara Gramin BankRajkot Nagrik Sahakari Bank Limited
Rupee Cooperative Bank Ltd.Sangli Urban Co Op Bank Ltd Sangli
Saptagiri Grameena BankSaraswat Cooperative Bank Limited
Sardar Bhiladwala Pardi Pepls Co BkSarva Haryana Gramin Bank
Sarva Up Gramin BankSaurashtra Gramin Bank
Shikshak Sahakari Bank LimitedSolapur Janata Sahakari Bank Limited
South Indian BankState Bank Of Bikaner And Jaipur
State Bank Of HyderabadState Bank Of India
State Bank Of MysoreState Bank Of Patiala
State Bank Of TravancoreSuryoday Small Finance Bank
Sutlej Kshetriya Gramin BankSyndicate Bank
Tamilnad Mercantile Bank LimitedTelangana Grameena Bank
The A.p. Mahesh Cooperative Urban Bank LimitedThe Akola Janata Commercial Cooperative Bank Ltd., Akola.
The Cosmos Co Operative Bank LimitedThe Goa Urban Co Op Bank Ltd
The Greater Bombay Cooperative Bank LimitedThe Jalgaon Peopels Cooperative Bank Limited
The Kapol Cooperative Bank LimitedThe Karad Urban Cooperative Bank Limited
The Mapusa Urban Coop Bank Of Goa LtdThe Mehsana Urban Cooperative Bank
The Nainital Bank LimitedThe Shamrao Vithal Cooperative Bank
The Surath Peoples Cooperative Bank LimitedThe Thane Bharat Sahakari Bank Limited
The Zoroastrian Cooperative Bank LimitedTjsb Sahakari Bank Ltd
Tripura Gramin BankUco Bank
Ujjivan Small Finance Bank LimitedUnion Bank Of India
United Bank Of IndiaUtkal Grameen Bank
Utkarsh Small Finance BankUttar Banga Kshetriya Gramin Bank
Uttar Bihar Gramin BankUttarakhand Gramin Bank
Vananchal Gramin BankVidharbha Konkan Gramin Bank
Vijaya BankYes Bank
Zila Sahakari Bank Ltd