What is the Best Way to Shop for a Car Loan?

Posted on Saturday, August 19th, 2023 | By IndusInd Bank

The best way to shop for a car loan is by applying online on the lender’s website. At IndusInd Bank, borrowers enjoy quick loan processing, minimal documentation, and attractive interest rates. You could also apply for a car loan at a physical branch of IndusInd Bank.

Most buyers opt for a car loan to finance a new car purchase for three primary reasons. Firstly, relying on a car loan means buyers don’t have to dip into their savings. Secondly, being secured loan products, four-wheeler loans are available at more attractive interest rates than unsecured financing options. And finally, perhaps most importantly, getting a car loan is convenient with the seamless online application process offered by banks today.

At IndusInd Bank, you enjoy the luxury of shopping for a vehicle loan from the comfort of your home. The best way to avail of a car loan is to visit IndusInd Bank’s official website and submit an online application form. Besides, IndusInd Bank helps you secure a car loan with simple and easy documentation and even offers doorstep assistance.

Read on to know all about IndusInd Bank car loans and the steps to apply.

Steps to Apply for Car Loan with IndusInd Bank

Apply for a car loan online from IndusInd Bank in three simple steps:

Step 1: Visit IndusInd Bank’s official car loan portal under the product category “loans” and click on ‘Apply Now’

Step 2: Enter details like your name, mobile number, PAN card, email ID, and pin code, and click on ‘Generate OTP’

Step 3: Enter the OTP and click on ‘Submit’

An IndusInd Bank agent will contact you and guide you through the process.

Alternatively, you can connect with us via phone, email, or simply walk into your nearest IndusInd Bank branch:

• Call the IndusInd Bank helpline at 1800 102 3333
•  Click here to locate and walk into your nearest branch
• Email us at reach4loan@indusind.com

Benefits of Shopping for a Car Loan Online with IndusInd Bank

IndusInd Bank offers a seamless online application process that comes with a host of benefits, including:

1. Quick Processing and Minimal Documentation

Applying for a car loan online with IndusInd Bank eliminates multiple bank visits. Thanks to a quick and streamlined process, you can get your car loan faster. Moreover, we have simple and easy documentation requirements in place to process your loan. To make it even easier for you to apply for a loan, we are accessible through phone and email as well.

2. Attractive Interest Rates

IndusInd Bank’s car loan comes with the most attractive interest rates on the market. This means you get to bring your dream car home with affordable EMIs.

3. Flexible Repayment Tenure

Enjoy flexible loan repayment tenure options of up to 60 months or 5 years. This also allows you to manage your monthly finances comfortably. For example, if you want lower EMIs, you can spread the loan payments over an extended period. Alternatively, you can opt for a shorter loan tenure if you want to pay off the loan quickly.

4. Up To 100% Car Loan Financing

With a car loan from IndusInd Bank, you can enjoy up to 100% financing of the car value. This means you can cover the entire cost of the new car with little to no down payment. Borrowers can also secure financing for the vehicle’s registration and insurance. However, this offer will vary depending on the cost of the vehicle and credit parameters.

5. Minimal Eligibility Criteria

To get a car loan online from IndusInd Bank, you must meet these easy-to-meet eligibility requirements:

• Age: 23-65 years
• Minimum annual income: Rs. 2.5 lakhs
• Minimum Employment Stability: 3 years
• Minimum Residential Stability: 2 years

The eligibility criteria will vary depending on your employment status. Do check the criteria thoroughly before applying.

Finance Your Dream Car Comfortably

A car loan is among the most convenient ways to finance your new four-wheeler purchase. With ubiquitous digitisation in the banking sector, it is easy for borrowers to apply for a car loan online in minutes. As elucidated above, at IndusInd Bank, you enjoy a seamless loan application process with doorstep documentation assistance. Our car loans are available at competitive interest rates with a flexible loan tenure of up to 60 months.

With up to 100% loan financing, you can bring home your dream car without leaving the slightest dent in your savings! Choose IndusInd Bank for a smooth loan application process and unparalleled benefits. Apply for a car loan online today.

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.