• IndusInd Car Loan

    Table of Contents



    Features of IndusInd Bank Car Loan

    The main features of the IndusInd Car Loan are mentioned below:

    • The online application process is simple.
    • The loan is processed fast.
    • The loan amount is disbursed quickly.
    • Car loans are provided for a wide range of vehicles.
    • Attractive interest rates are provided.
    • Flexible repayment tenure ranging from 12 months to 48 months for new cars and 12 months to 36 months for used cars.

    How to Calculate EMI on IndusInd Bank Car Loan

    Some of the main factors that are considered when calculating the Equated Monthly Instalments (EMIs) are the rate of interest, loan amount, and loan tenure. You can use the car loan EMI calculator provided by BankBazaar to calculate the EMI.

    The process to use the calculator is very simple and only a few details will need to be entered. Once the details have been entered, you will be able to view your EMI.

    IndusInd Bank Car Loan
    Indusind Car Loan

    How to Apply for an IndusInd Bank Car Loan

    The step-by-step procedure to apply for an IndusInd Bank Car Loan is mentioned below:

    • Visit the official website of IndusInd Bank.
    • Under the ‘Personal’ section, select ‘Loan’ and then click on ‘Car Loan’.
    • On the next page, click on ‘Apply Now’.
    • Next, you will have to enter various details such as your name, mobile number, email ID, the product that you are interested in, state, city, if you are an existing IndusInd Bank customer (Credit Card number or Customer ID will have to be entered if you are an existing customer), and captcha.
    • Once all the above-mentioned details have been entered, click on ‘Apply’.
    • An IndusInd Bank representative will contact you to provide further details.

    Eligibility Criteria of IndusInd Bank Car Loan

    The car loan facility offered by IndusInd Bank can be availed by salaried employees and self-employed individuals (income and non-income based). The eligibility criteria that must be met for both the categories are mentioned below:

    Salaried employees

    • You must be at least 21 years old at the time of applying
    • The maximum age of the applicant can be 60 years.
    • You must make an income of at least Rs.2,50,000 in a year.
    • You must have at least 3 years of work experience. At the time of applying for the car loan, you must have worked for at least 1 year in the current company.
    • You must have lived for at least 3 years in the current city and at least for 1 year in the current residence. You are eligible to avail a car loan if you are living in your own house.

    Self-employed individuals (Income-based)

    • You must be between the ages of 21 years and 65 years.
    • You must have lived for at least 3 years in the current city and at least for 1 year in the current residence. You are eligible to avail a car loan if you are living in your own house.
    • Your CIBIL score should be more than 600 and you should not have a Caution or Negative profile.
    • You must make a minimum net profit of Rs.2,00,000 in a year.

    Self-employed individuals (Non-Income based)

    • You must be between the ages of 21 years and 65 years.
    • Your CIBIL score should be more than 600 and you should not have a Caution or Negative profile.
    • You must have lived for at least 3 years in the current city and at least for 1 year in the current residence. You are eligible to avail a car loan if you are living in your own house.
    • Business ownership proof along with a minimum of 3 years of business stability must be provided.

    Documents

    Depending on the category the applicant falls under, the documents that must be submitted will vary. The documents that must be submitted for the different categories are mentioned below:

    Salaried employees

    • Passport-size photo
    • Identity proof
    • Address proof
    • Bank statement for the last 6 months.
    • Income proof

    Self-employed individuals (Income and Non-income based)

    • Passport-size photo
    • Identity proof
    • Address proof
    • Bank statement for the last 6 months.
    • Business proof
    • Income Tax Returns for the last 2 years (Not required for non-income based individuals)

    FAQs

    1. Should you provide collateral or security to avail the loan?
    2. No, you need not provide security or collateral in order to avail the loan.

    3. Should you have an account with IndusInd Bank in order to avail a car loan?
    4. It is not mandatory for you to have an account with IndusInd Bank in order to avail a car loan.

    5. Are there any special schemes provided in case you cannot submit the income documents?
    6. Yes, IndusInd Bank provides special schemes in case you are not able to furnish the income documents.

    7. Is it possible for you to take a loan on an existing car?
    8. Yes, you will be able to take a loan on an existing car. However, the car must be hypothecated to IndusInd Bank once the loan sanction process is complete and before the loan amount is disbursed.

    9. What is the method to repay the loan?
    10. You can repay the loan by providing post-dated cheques or via ECS.

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    IndusInd Bank Car Loan Reviews

    • IndusInd Bank Car Loan
      "Best service "
      0.5 5.0/5 "Blown Away!"
      From INDUSIND Bank, i have taken a car loan and the loan amount was Rs. 4.50L and i made down payment Rs. 1.80L. Pre closure is there and the rate interest was normal , emi of Rs.9600 i am paying for the tenure of 5 years. Recently done a top up on this loan for personal use.
      Was this review helpful? 10
      , tirunelveli
      Reviewed on Mar 04, 2020
    • IndusInd Bank
      IndusInd Bank Car Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have taken car loan through Indusind bank directly ,The rate of interest and the processing fee was very high since had requirement i have taken this loan .The car model was 2011and the name of the vehicle name is Maruti 800 i have taken this loan before 10 years .Everything was good to me so far and i am really satisfied with the service .
      Was this review helpful? 0
      , jaipur
      Reviewed on Mar 02, 2020
    • IndusInd Bank Car Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I have taken car loan through INDUSIND Bank directly.The loan amount was 3.5L for the tenure of 5 years . The rate of interest and the processing fee are nominal .This loan was sanctioned on time without any difficulties. The process was smooth and quick .I am satisfied with the service so far.
      Was this review helpful? 4
      , kolkata
      Reviewed on Jan 31, 2020
    • IndusInd Bank Car Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have purchased Honda Santro car recently before a month. This car loan was taken from Indusind bank through showroom executive. Loan got processed with in a day. I have done a down payment of 1.7L and the actual car price is 6L. The interest rate is 7% which is normal and tenure period is 5 years. I am paying the EMI of Rs.9,800.
      Was this review helpful? 0
      , darjeeling
      Reviewed on Dec 17, 2019
    • IndusInd Bank Car Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I have taken car loan directy through Indusind Bank.The car model was Maruti Suzuki Swift and taken on the year of 2018 october month .I have got the loan amount on exact time frame and there was no difficulties faced so far .The agent shared all the details about this loan.
      Was this review helpful? 2
      , bangalore
      Reviewed on Dec 09, 2019
    • IndusInd Bank Car Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I have applied for INDUSIND Bank car loan through bank directly and availed as well .The rate of interest was very high, since requirement was there so taken this loan .The loan amount got sanctioned on time without any delay.The car model is Maruti Suzuki LXI . I have taken this loan for the past 1 year.
      Was this review helpful? 4
      , raigarh
      Reviewed on Nov 30, 2019
    • IndusInd Bank Car Loan
      "Good "
      0.5 4.0/5 "Great!"
      I have taken a car loan with INDUSIND bank on 4 years before. Through showroom I got a chance to apply loan in this bank. I need to pay 6,800 rupees for EMI. The amount of 3L sufficient with tenure of 5 years. I am not aware of interest rate detail. The car model is ALTO 800.
      Was this review helpful? 6
      , kochi
      Reviewed on Nov 28, 2019
    • IndusInd Bank Car Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      One year before I have taken a car loan from INDUSIND BANK which was applied through showroom. The loan amount was sufficient and tenure period of 5 years. Once all verification done they have sanctioned the amount within one week. The rate of interest was nominal only. The car model which I bought is HYUNDAI.
      Was this review helpful? 5
      , coimbatore
      Reviewed on Oct 31, 2019
    • IndusInd Bank Car Loan
      "Good Car Loan"
      0.5 5.0/5 "Blown Away!"
      Recently i have purchased the car loan from Indusind bank and my EMI is going to start and the first month amount is getting on 21st hence i have to put a balance in that. They have approved the loan immediately and the interest rates are fine and comfortable on that. They have charged me a processing fee which is a nominal. I just want a instant approval thats the reason i have chosen the Indusind bank.
      Was this review helpful? 6
      , secunderabad
      Reviewed on Sep 12, 2019
    • IndusInd Bank Car Loan
      "Rate of interst should be reduced"
      0.5 3.0/5 "Satisfactory"
      I felt Indusind bank car loan interest is huge, I availed Rs. 11 lakhs to purchase breeza vehicle, the on road price was Rs. 17,000 but I paid the some payment to the dealer with higher interest. The loan process was also hassle free then I paid all the emi and I got the NOC.
      Was this review helpful? 6
      , bangalore
      Reviewed on Sep 12, 2019
    • IndusInd Bank Car Loan
      "Best Experience"
      0.5 5.0/5 "Blown Away!"
      Two years back I was having Indusind car loan, they are customer friendly. I took Rs. 5.8 lakhs I purchased 2012 mahindra vehicle. The processing fee was minimal, personally I approached them within 5 days they sanctioned on road price.
      Was this review helpful? 1
      , lucknow
      Reviewed on Aug 01, 2019
    • IndusInd Bank Car Loan
      "Better Loan experience"
      0.5 5.0/5 "Blown Away!"
      My car loan was taken from indusind bank. When i went for purchasing the car, in the showroom Indusind bank executive has met me and they have processed the loan. I took the loan amount of rs. 4.70 lakhs and the interest rate is equal to other banks. They have provided me a interest rate of 15% because its a commercial vehicle. I am paying the EMI of Rs. 16800 for 34 months.
      Was this review helpful? 0
      , rewari
      Reviewed on Jul 05, 2019
    • IndusInd Bank Car Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have taken a car loan with INDUISND BANK . The tenuity period is fine , my application was taken care by INDUISND and they processed it keeping my documents . Rate of interest if i see its reasonable compare to market value. I am happy with Overall services. The loan amount is 680000
      Was this review helpful? 0
      , jaipur
      Reviewed on Jul 02, 2019
    • IndusInd Bank Car Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have taken car loan with Indusind bank two years ago, The loan amount was sufficient, they have given me up to 3,19,000 for 4 years of tenure period, the rate of interest they have charged me was nominal, i directly went and applied for car loan, the processing fee they have charged me was nominal. now i have successfully closed this loan.
      Was this review helpful? 1
      , noida
      Reviewed on Jun 14, 2019
    • IndusInd Bank Car Loan
      "Hidden charges and response should be improved"
      0.5 1.0/5 "Really Bad"
      Long back I took car loan from Indusind bank, at the time I didn't check the interest, I took the car through showroom the documentation was good. But they are taking lots of charging and emi extra, then I several complain finally they resolve but they reduced my credit score.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jun 12, 2019
    • IndusInd Bank Car Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      i have been using holding car loan with INDUSIND bank , i have taken model Hyundai grand i10 car . i am directly approach this bank , the loan amount which they have given to me was sufficient, loan amount is 4.5 lakhs and 2 years tenure.on time received loan amount good services. Customer service is very excellent.
      Was this review helpful? 0
      , coimbatore
      Reviewed on May 24, 2019
    • IndusInd Bank Car Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I got auto loan with INDUSIND BANK , i completed this loan . I am very happy with the services because i paid on time so that they refund my last EMI this was the best part . Their interest rate was also nominal and i got fair loan amount whatever i needed .
      Was this review helpful? 1
      , noida
      Reviewed on Apr 19, 2019
    • IndusInd Bank Car Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have taken the Car loan through Indusind Bank agent and it was for the 2yrs tenure and the loan amount was 3.75lakhs.The loan amount was sufficient as well .The agent clearly explained the process and i have not faced any issues on submitting the documents as well .once closed the loan i have got the submitted documents from the bank and it was couried to my email address.I have taken the car name is Scorpio .The Overall Service is Excellent and Convenient .
      Was this review helpful? 0
      , bangalore
      Reviewed on Apr 06, 2019
    • IndusInd Bank Car Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I had taken this loan almost seven years back and the process in getting this loan was pretty much easy. The loan amount has been good and the interest rate with them has been nominal as well. There has not been any additional charges made by them and there was a help from their customer support team as well.
      Was this review helpful? 1
      , bangalore
      Reviewed on Mar 20, 2019
    • IndusInd Bank Car Loan
      "Very Convenient"
      0.5 5.0/5 "Blown Away!"
      MY friend is working with Indusind he have coordinated for the car loan product, they sanctioned on price of the car. I purchases swift dezire car and it has tenure period of five years. The interest rate is attractive but I am satisfied with loan process.
      Was this review helpful? 1
      , erode
      Reviewed on Mar 05, 2019
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