IDBI Bank Car Loan Interest Rate-Wishfin

IDBI Bank Car Loan

About IDBI Bank Car Loan

Fulfilling your dream of car has become easier with Express Auto Loan of IDBI Bank Ltd., a major semi-government bank of India. The simple and fast processing of the loan makes it easier for you to get your dream car. The bank provides auto loan for a wide range of cars, sports utility vehicles, etc. But you need to check your financial feasibility for the loan by studying aspects like interest rate, EMI, charges like processing fee & others before you opt for IDBI Bank. Please see below the details regarding the same.

IDBI Bank Car Loan Interest Rate Detail

The existing interest rate offered on car loan by IDBI Bank is 7.50% Onwards per annum for exisitng customers of atleast 3 months of relationship.

IDBI Bank Car Loan Details

Maximum Loan AmountUpto 85% of the ex-showroom price
Interest Rate7.50% Onwards
Maximum Repayment Period7 years
Processing FeeNIL
Prepayment ChargesWithin 6 months of disbursement or by way of balance transfer 1% of balance outstanding plus applicable charges would be charged

IDBI Bank Car Loan EMI Calculator

Don’t forget to look at the EMI calculator before applying for a car loan. The calculator works on the basis of interest rate, loan amount and the tenure of the loan. So, put all that and let the calculator does the rest for you.

IDBI Car Loan Eligibility Criteria

Any salaried or self employed can be eligible for a car loan from IDBI Bank if he/she satisfies the conditions stated below.

  • The minimum age at the time of application should be 18 years
  • The maximum age accepted at the maturity of loan must not be over 70 years of the borrower
  • You should have a minimum annual income of Rs. 1.8 lakhs per annum
  • While salaried must have an overall work experience of 2 years with a minimum of 1 year with the existing employer, self-employed needs to be in the same line of business for atleast 2 years


ProofsSalaried ProfessionalsSelf-employed
Age ProofPassport Copy/ PAN Card/ Voter ID card, Photo Driving License with birth date (laminated, recent , legible)/Photo ration card with DOB/Employer certificate/ID/School/College Leaving CertificatePassport Copy/ PAN Card/ Voter ID card, Photo Driving License with birth date (laminated, recent , legible)/Photo ration card with DOB/Employer certificate/ID/School/College Leaving Certificate
Identity ProofPAN Card/ Voter ID/Passport/Driving License, photographPAN Card/ Voter ID/Passport/Driving License, photograph
Income ProofLatest 2 months salary slips, Form 16/ ITR for last 2 years, Bank Statement reflecting salary credits for 4 monthsIncome Statement for last 2 years with computation of income / certified financials, Balance Sheet, P & L A/c, Bank statement
Address ProofPassport/Driving License/Voter ID Card/Telephone Bill/Electricity Bill/Title Deed of Property/Rental Agreement/Employer LetterPassport/Driving License/Voter ID Card/Telephone Bill/Electricity Bill/Title Deed of Property/Rental Agreement/Sales Tax/RC/ITR/Form 18

IDBI Car Loan Application Form

Now you are ready to apply for IDBI Bank Car Loan, right! If it is the case, then you can visit the website of the bank and click ‘Apply Now’ button. Upon clicking the button, a page will appear with ‘Apply Online’ showing at the left end. Under the head, you can find the link of ‘Auto Loan’, which you have to click. A click will let you open the application form, which you have to fill in and submit it along with the scanned copy of the photographs and documents to the bank desk. Afer a thorough check, IDBI Bank will approve & disburse the loan.

IDBI Car Loan Statement

In the course of your car loan journey, you would want to check the repayment track, charges deducted on your loan account, if any. You can check the same using the car loan statement, which can be easily accessed at the bank branch upon your request. The statement can be accessed whenever you would want to.

Personal Loan Interest Rates February 2024
HDFC Bank10.75% - 14.50%
ICICI Bank10.75% - 19.00%
IndusInd Bank10.25% - 26.00%
Kotak Bank10.99%
RBL14.00% - 23.00%
SMFG India Credit12.00% - 24.00%
Standard Chartered Bank11.49%
Tata Capital10.50% - 24.00%
Home Loan Interest Rates February 2024
Axis Bank8.75% - 9.15%
Bank of Baroda8.50% - 10.60%
Citibank8.75% - 9.15%
HDFC8.50% - 9.40%
ICICI Bank9.00% - 9.85%
Indiabulls Housing Finance Limited8.65%
Kotak Bank8.70%
LIC Housing8.50% - 10.50%
Piramal Capital & Housing Finance10.50%
PNB Housing Finance8.50% - 10.95%
Reliance Home Finance8.75% - 14.00%
State Bank of India/SBI9.10% - 9.65%
Tata Capital8.95% - 12.00%