As you Asking for the Information About the Car Loan of the Indian Bank the Information is given below

About the Indian Bank Car Loan
Buying a new car is a memorable experience in every individual’s life. As a cherished asset, a car not only provides luxury but also is a valuable investment aiding in your everyday life. When we choose a car, we ensure that we get the make and the model of our choice. Along with that comes the responsibility of financing the new car from the right source of funds. A reliable fund source is a car loan scheme which gives you the security of covering the entire cost of the new vehicle.

Feature of Car Loan

Quantum of Loan - Indian Bank sanctions loans for four-wheelers up to a maximum amount of Rs 2 crores.

Processing Fee - The processing fees charged for a car loan is 0.228% of the total loan amount or a maximum of Rs.10146/-.

Loan Margin - The loan margin required to be brought in by borrowers is 15% for new four-wheelers.

Repayment - Car loan repayments can be done with a maximum loan tenure of 84 months without a moratorium or holiday period.


Interest Rates

MCLR Benchmark Tenure 1 year
Benchmark MCLR rate 9.60%
Rate of interest 9.95% (MCLR + Spread

Loan Tenure

Tenure MCLR Percentage
Overnight 9.20%
1 month 9.25%
3 months 9.30%
6 months 9.35%
1 year 9.45%
3 years 9.55%
5 years 9.70%

For more Information you may Visit the Nearest branch of the India Bank