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Best Car Loan in India 2023
Posted on Tuesday, August 8th, 2023 | By IndusInd Bank
With competitive interest rates, convenient repayment options, and quick approval, an IndusInd Bank car loan is the ultimate choice to fulfil your dream of owning a car in 2023.
Whether commuting to work, running errands, or going on long road trips, having a car gives you unparalleled convenience and freedom. Although cars can be expensive, getting a car loan can make it easier to buy one. Almost all leading banks in India offer car loans with affordable interest rates. If you are interested in purchasing a car and searching for the best car loan, look no further than IndusInd Bank.
With its attractive features, competitive interest rates, and hassle-free application process, an IndusInd Bank car loan is the finest choice. This blog-post will provide an in-depth understanding of IndusInd Bank’s car loan eligibility, benefits, and application process.
IndusInd Bank Car Loan Benefits
IndusInd Bank car loan is designed to provide convenience and value to borrowers. Here are some of the key benefits:
| Easy Documentation Process | IndusInd Bank offers simple, quick and easy loan documentation with doorstep assistance. |
| Quick Loan Approval and Disbursal | Quick and hassle-free loan approval and disbursal processes allow you to purchase your car immediately. |
| Competitive Interest Rates | Offers competitive and convenient interest rates within your budget. |
| Repayment Tenure | Easy and flexible repayment tenure of up to 60 months allows you to select a convenient repayment schedule. |
| Higher Loan Amount | You can get 100% finance on new car loans. Obtain a loan amount up to 25 lakhs. |
Eligibility Criteria & Documentation for IndusInd Bank Car Loan
To apply for a car loan online with IndusInd Bank, you must meet certain eligibility criteria and provide specific documentation. Here are the general requirements:
For Salaried Individuals:
Eligibility
- The minimum income should be INR. 2.5 lakhs per annum
- Age must be between 23 years and 60 years
- Stable employment for a minimum of three years, with at least one year in the current job
- Two years of residence stability in the city and one year at the current residence; no stability is required for those who own their house
Documents Required
Income Proof
- Latest Form 16 or Income Tax Returns
- Last 3 months’ salary slips
- Last 3 months’ bank statements
For Self-Employed Individuals:
Eligibility
- Minimum income of INR 3 lakhs per annum, according to the latest ITR
- Age must be between 23 years and 65 years
- Business stability of at least three years
- Residence stability of two years in the city and one year at the current residence; no stability required if you own a house
Documents Required
Income Proof
- Last 2 years’ Income Tax Returns with IT computations
- Last 3 months’ bank statements
- Business Incorporation Certificate or any other Business Proof
IndusInd Bank Car Loan Application Process
Follow the steps given below to apply for a car loan online with IndusInd Bank:
- Visit IndusInd Bank’s car loan webpage
- Click the “Apply Now” button and choose the type of car loan you require
- In the next step, enter a few basic details, such as your Name, Mobile Number, PAN, and pin code
- Once you have submitted the details mentioned above, an IndusInd Bank agent will contact you and explain the features and the procedure of applying for a car loan
Alternatively, you can reach us via:
- Phone: You can give us a call at 18001023333 or 04445455555 (two-wheelers)
- Visit our branch: You can visit one of our branches in person. Click here to locate the nearest branch
- Email: You can contact us via email with your inquiry at reach4loan@indusind.com
Apply for a car loan with IndusInd Bank today and experience the joy of driving your dream car!
Disclaimer: The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information.
