IDBI Bank Limited is a financial services firm based in Mumbai, India. In terms of government ownership, IDBI Bank ranks alongside nationalized banks and the SBI Group. It is one of the Government of India's 26 commercial banks.
Their knowledge of financial markets will enable them to deal successfully with obstacles and capitalize on new possibilities by actively engaging in our country's growth process. Getting to drive your dream car may make everything seem so much better. IDBI Bank provides Express Auto Loans for your dream car.
The IDBI car loan interest rates 2023 are shown in the table below-
IDBI Bank Car Loan Interest Rate
700 - 740
741 - 775
776 - 800
801 and more
These are the charges, other than the IDBI Bank car loan interest-
1) Processing Fees - Rs.2,500
2) Foreclosure Charges - 1% of outstanding balance + applicable charges.
3) Penal Interest Charges - 2% per annum for the overdue
Any salaried or self-employed individual who meets the qualifications outlined below may be eligible for an IDBI Bank car loan.
Following are the documents required for the IDBI Bank car loans-
With the advancement of technology, it is now possible to apply for a car loan online. Download the car loan application form from the IDBI Bank website. Submit the completed and signed application form to the bank, together with the required documents such as identity evidence, age proof, residence proof, and income proof. The form and documentation can be uploaded to the bank's website or submitted to the website of the nearest IDBI Bank branch.
To upload the application form to the bank's website, simply input the application number and your date of birth (DOB) in the 'Update Application form. You can upload the completed and signed form to the website after selecting the 'Update Application' option.