If you really think about it, it's easier getting a loan for a car than a loan for bus fare!
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  • Car Loan Reviews

    • IDBI Car Loan
      "Too high when it comes to charges"
      0.5 2.0/5 "Expected more"
      In short, I would IDBI rules and regulations are very strict when it comes to car loan. The disclaimer was I need to complete one year to get the car loan from them. Interest rate offered by them was too high also they were too good in responding. When I approached them they simply told that they were unable to provide the loan and closed the deal.
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 07, 2017
    • IDBI Car Loan
      "Good Process"
      0.5 4.0/5 "Great!"
      I had taken car loan from IDBI bank. I am very much comfortable with the bank during the loan process. And everything was so convenient for me to take the loan from them. There is no interest for the loan which I took and I only paid the processing fee because I have the account which is tied up with LIC. The customer service is good.
      Was this review helpful? 0
      , jamshedpur
      Reviewed on Jul 01, 2017
    • IDBI Car Loan
      "Better service"
      0.5 4.0/5 "Great!"
      IDBI bank process was very good and smooth, because it gave the better interest rate with my car loan applications. Got IDBI car loan with the help of idbi kissan credit card. The rate of interest, fee and charges are very low with IDBI, when compared with OBC. They provided the best service for my car loan.
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      , bhopal
      Reviewed on Apr 05, 2017
    • IDBI Car Loan
      "Very Good"
      0.5 4.0/5 "Great!"
      My car loan was taken from IDBI Bank. It is an good experience but I am happy that the process was smooth.Now its gonna be a year .Total 5 years and the EMI is 16835/- rate of interest is 11.25 was quit high and the processing fee is 9500/- One of my referred me to opt car loan from IDBI,customer service people are really friendly they help in all the manners.
      Was this review helpful? 0
      , thane
      Reviewed on Feb 06, 2017
    • IDBI Car Loan
      "Good "
      0.5 5.0/5 "Blown Away!"
      I choose IDBI bank to get the car loan because am already having the housing loan. Interest rate was a good one when compare with other banks. Stamp duties and the processing charges are a nominal one according to the market. Within a day of time the loan amount got disbursed to the car dealer.
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      , hyderabad
      Reviewed on Apr 23, 2016
    • IDBI Car Loan
      "Very good"
      0.5 5.0/5 "Blown Away!"
      I am very much happy to hold the IDBI Car loan. Rate of interest charged by them was very low. They are giving a discount to the Corporate employees. This car loan is already settled. The term of the loan is 5 years and the loan got closed automatically. I got the closure letter within a month's time.
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      , ghaziabad
      Reviewed on Apr 18, 2016
    • IDBI Car Loan
      "Excellent"
      0.5 4.0/5 "Great!"
      I have got the car loan with the IDBI bank and the interest rate was around 11.25%. The loan amount got disbursed to the account within two to three days of time. Customer service is good with them and the processing charges were nominal with them.
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      , faridabad
      Reviewed on Feb 05, 2016
    • IDBI Car Loan
      "Quick process!"
      0.5 5.0/5 "Blown Away!"
      Car loan process was pretty good as the loan was disbursed within an hour. Even the documentation was done in the respected time by the IDBI bank. Verification was done after the delivery of the vehicle. 9.95% is the interest rate, which is pretty low for the car loan.
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      , raipur
      Reviewed on Jan 28, 2016
    • IDBI Car Loan
      "Average!!"
      0.5 1.5/5 "Bad"
      Last year I availed my car loan with Idbi . Everything was done through my car dealer. However I found their customer service is not that good. I had to visi the branch often , since I was given a maximum tenure I opted with this bank. They should improve their customer service. They should be more customer centric. Other than they were competitive as like Sbi in terms of interest rate.
      Was this review helpful? 3
      , pune
      Reviewed on Nov 27, 2015
    • IDBI Car Loan
      "Good "
      0.5 4.0/5 "Great!"
      I took the car loan with idbi bank with the interest rate of 10.75% and there was no processing fee. I visited three branches to get the loan and the customer service is was not good as they took 3 week of the loan process. They were forcing me to take the insurance on the loan and not giving the information prior.
      Was this review helpful? 0
      , pune
      Reviewed on Nov 03, 2015
    • IDBI Car Loan
      "Excellent !!!!!"
      0.5 5.0/5 "Blown Away!"
      I took a car loan from IDBI Bank with the interest rate of 11% which should reduce but they did not charge any processing fee. They took only three days for the disbursement after submitting the documents. The representative came and collected all the documents related to the vehicle.They guided me very well throughout the process.
      Was this review helpful? 2
      , ambala
      Reviewed on Sep 14, 2015
    • IDBI Car Loan
      "My Bank..."
      0.5 4.0/5 "Great!"
      I availed a car loan from IDBI bank. I approached the bank directly and they informed me the necessary documents. They collected the documents, checked my credit score and said that everything is genuine and provided me the loan within 4 days. They transfered the amount to the dealer directly. They did not charge any processing fees.
      Was this review helpful? 1
      , mumbai
      Reviewed on Aug 17, 2015
    • IDBI Car Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      The executive of the IDBI bank were cooperative and also it was a good service by the bank for the Car loan. The executive of the bank had come to my door step and he also had good knowledge about the loan. The bank was very transparent in their loan requirements and also they were flexible in changing the tenure period. They had given the appropriate information and they were also good in their extra features.
      Was this review helpful? 1
      , mumbai
      Reviewed on Jul 23, 2015
    • IDBI Car Loan
      "Very good"
      0.5 5.0/5 "Blown Away!"
      I would like to give 5stars for IDBI. It is very good for me, everything was in place. They came to my place for documents collections and it was only once I have been to their branch to sign the documents. In fact my account was dormant they have activated it. Responsiveness is good.
      Was this review helpful? 0
      , hubli
      Reviewed on Jun 27, 2015
    • IDBI Car Loan
      "Satisfied!!!"
      0.5 4.0/5 "Great!"
      There is no processing charge in IDBI bank for car loan thus I opted. Actually I was in favor of floating rate of interest however IDBI only offered fixed rate of interest rate. Even though it was fixed I ended deal with IDBI. The car loan process was too long as the executive who handled my case was slow in process. Overall the process took a week to ten days thus bit dissatisfied. Interest rate was 10.5%. Nil pre closure charge and closing period of post six months. IDBI should speed up the loan process, which is my suggestion.
      Was this review helpful? 3
      , new delhi
      Reviewed on Jan 19, 2015
    • IDBI Car Loan
      "Very good"
      0.5 4.5/5 "Excellent!"
      I am holding a car loan with IDBI. The value of the car is 7 lakhs and I have borrowed 5 lakhs . There is no additional cost on that. I would say this Bank is better than HDFC in all the ways and means. Its an ongoing loan and this was taken last year and no issues with them.
      Was this review helpful? 3
      , raipur
      Reviewed on Jan 05, 2015
    • IDBI Car Loan
      "Fastest process!!"
      0.5 4.5/5 "Excellent!"
      Within 24 hours all details were collected from my end and IDBI processed loan as soon as possible. Hardly they took 2 days they provided cheque. And by paying down payment of 50,000 I took the car from the dealer. Each and every month I am getting alerts regarding current status. Processing fee is nominal for car loan where they just collected Rs.1000 and interest rate is competitive.
      Was this review helpful? 2
      , aurangabad
      Reviewed on Dec 31, 2014
    • IDBI Car Loan
      "Feel at home services with IDBI"
      0.5 5.0/5 "Blown Away!"
      The car loan from which I availed from IDBI bank is very good. The experience was great. The processing was so fast as I applied and got the loan approved on the same day. The loan amount was Rs. 500000 and the interest rate is 10.25% for 7 years.
      Was this review helpful? 2
      , nagpur
      Reviewed on Nov 27, 2014
    • IDBI Car Loan
      "Good approach"
      0.5 5.0/5 "Blown Away!"
      IDBI approached me for a Car Loan . I can rate them as 5 for their rate of interest as its can very competitive and this is the only Bank which provides the loan for 7 years and all the other Banks are providing at 5 years however as I have taken a loan with ICICI nothing much to comment about them
      Was this review helpful? 2
      , gurgaon
      Reviewed on Aug 21, 2014
    • IDBI Car Loan
      "Wonderful experience"
      0.5 5.0/5 "Blown Away!"
      It was a wonderful experience of availing a car loan from IDBI bank. I think I haven't had any problem in availing the loan. Actually I contacted the customer care executive of IDBI bank for a car loan. On the very next day a person from the bank came to my place and collected all the documents. Within 4 to 5 days they disbursed the loan. Rate of interest was 10.65%. Best part is they did not charge any processing fee.
      Was this review helpful? 1
      , ghaziabad
      Reviewed on Jul 28, 2014
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    IDBI Bank Car Loan Eligibility Calculator is Rated as "Excellent!" by 23 Users

    Fees & Charges

    Promised Interest Rate

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    Car Loan BYTES FROM OUR KITCHEN

    IDBI Bank Car Loan Eligibility Calculator

    IDBI Bank Car Loan Overview

    IDBI Bank offers one of the best auto financing schemes in India for both four-wheeler and high-end two-wheelers costing above Rs. 1.20 lakhs. The Express Auto Loan scheme from IDBI comes with exceptional features, quick processing, and higher sanction amounts. The IDBI Bank auto loan provides financing for a wide array of vehicles ranging from cars, bikes and SUVs. The bank also offers flexible repayment options with monthly installments on reducing balance and comes with a selection of loan tenures ranging up to 7 years. IDBI ensures that customers get the best auto financing deals with attractive interest rates and tie-ups with major manufacturers and car dealers in India.


    IDBI Bank Car Loan Eligibility

    IDBI Bank offers auto loans to both salaried employees and self-employed businessmen with exclusive interest rates and hassle-free documentation process.

    IDBI Bank Car Loan Eligibility Criteria for Salaried Individuals

    Salaried individuals who are above the age of 18, can easily apply for an IDBI car loan. The maximum age of the applicant should be 70 years or near the retirement age at the time of maturity of the loan, whichever is earlier. Applicants have to submit their salary slips, Income Tax Returns, Form 16 and back account statements with salary credit as income proofs.

    Apply for Car Loan Online

    IDBI Bank Car Loan Eligibility Criteria for Self-employed Professionals

    The minimum age of the applicant should be 18 years and the maximum age should be 70 years at the time of maturity of the car loan. Professionals should have been in business for atleast two years showing an annual income of Rs.1, 80,000/-. As income proofs, self-employed businessmen need to furnish balance sheets, profit & loss statements, bank statements and any other certified financial document.

    Factors affecting IDBI Bank Car Loan Eligibility

    Eligibility for an IDBI Bank car loan is calculated based on various factors. Here are a few which are generally considered -

    Income - The applicant’s income plays a vital role in determining the eligibility for an IDBI Bank car loan. Individuals applying for this loan need to show a specific amount of income to qualify. The bank might not approve car loans for individuals and companies falling below the requisite eligibility amount.

    CIBIL Score - The CIBIL score is a major criteria considered by IDBI Bank while an individual applies for a car loan. After the loan application is made, the bank will check the credit history of the applicant including the credit score. Loans for applicants with low credit scores might be declined and for applicants with higher scores, the bank will continue to process the loan further. The CIBIL score works as the first impression for an applicant with lending institutions and it is very important that applicants carry a good score to easily avail car loans.

    Age - Age is a major factor when it comes to approving a car loan. IDBI Bank sanctions auto loans only for individuals aged 18 and above. If the applicant is at the retirement age or is nearing the age, the bank might not easily approve a car loan, owing to expected repayment difficulties.

    How do you increase your eligibility for an IDBI Bank Car Loan?

    An excellent way to increase your IDBI Bank car loan eligibility would be by applying for the loan along with a co-applicant. The income of the co-applicant, who could be a spouse or a family member, can be combined with the applicant’s income to improve the eligibility criteria. Applicants can also make sure that they do not have any huge outstanding debts or liabilities, and also carry a good credit history, while applying for a car loan. Additionally, the repayment capacity of the applicant will also be considered while analyzing the income eligibility criteria.

    IDBI Bank Car Loan Eligibility Calculators

    Car owners planning to avail an IDBI Bank car loan can easily check whether they qualify, by using car loan eligibility calculators. These tools which are easily available shows a prospective borrower, whether he is eligible to procure a car loan from IDBI based on certain aspects like income, age, profession, etc. IDBI Bank offers a well-designed car loan eligibility calculator where certain inputs like name, mobile number, date of birth, make and model of the car, on-road price and type of employment of the applicant have to be entered. The tool instantly displays whether the individual is eligible to avail an IDBI car loan or not.

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