IDBI Bank provides car loans for the purchase of new or used cars, SUVs, and MUVs

The loan can be availed by individuals, proprietorship/partnership firms, public and private limited companies, and HUFs.

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Loan amount

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Interest rate

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Loan tenure

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Prepayment charges

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Up to 0.50% of the loan amount

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Minimum age of 18 years and maximum age of 70 years at loan maturity

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Individuals should have a minimum annual income of Rs.2.4 lakh

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IDBI Bank provides car loans for the purchase of new or used cars, SUVs, and MUVs

The loan can be availed by individuals, proprietorship/partnership firms, public and private limited companies, and HUFs.

Loan amount

Minimum Rs.1 lakh and maximum Rs.2 crore

Interest rate

Varies based on the borrower's profile and the type of car. IDBI Bank offers competitive interest rates starting from 7.90% p.a.

Loan tenure

Up to 7 years

Prepayment charges

Nil for floating rate loans

Up to 0.50% of the loan amount

Processing fee

Minimum age of 18 years and maximum age of 70 years at loan maturity

Individuals should have a minimum annual income of Rs.2.4 lakh

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