The Indian Bank offers Vehicle Loan for purchase of New Two Wheeler or New / Used Four Wheeler (Used four wheeler should not be more than 3 years and should be certified by reputed automobile engineer / valuer)

Indian Bank Interest Rates

Revision of Interest rate on Savings Bank Deposits wef 16.08.2017

Interest Rates on Domestic Term Deposits % p.a (w.e.f. 10.02.2017) (% per annum)




Applicable for single deposit of Rs.1 lakh and above

For Deposit of above Rs 5 crore, acceptance of such deposits will be at the approval of the Treasury Branch

IB Vehicle Loan Eligibility

Minimum Gross monthly income for purchase of a car should be Rs.20,000/- p.m.

For Salaried Class: 20 times of Gross monthly Salary (Income of spouse may be included). Net Take Home Pay after deducting proposed Loan EMI, must be ensured at 40% of Gross Pay.

For professionals and Businessmen: 20 Months Income – to be calculated based on their average income earned in the last 2 years and Capacity / ability to repay the loan.

Amount of Loan

Maximum loan ceiling:

Two Wheelers: Rs. 10 Lakhs
Four Wheelers: Rs. 200 Lakhs

Margin *

15% for New Vehicle

* 40% for used vehicle (Four wheeler)

Processing fee

0.229% on loan amount with a max. of Rs.10191/-

Contact-

Corporate Office - Postal Address

Indian Bank, Corporate Office,
PB No: 5555, 254-260, Avvai Shanmugam Salai,
Royapettah, Chennai - 600 014

Corporate Office - Phone Number
044 28134300