IDBI Bank Car Loan

Updated: 06-02-2018 07:35:16 AM

About the Bank

IDBI Bank Limited is a financial service company headquartered in Mumbai, and is one of the 26 commercial banks owned by the Government of India. Their experience in India’s financial markets helps them cope with challenges effectively and capitalize on any emerging opportunities. Currently,as of March 2016, in terms of reach,  IDBI Bank is the 10th largest development bank of the world with its 3350 ATMs, 1853 branches. It also has one overseas branch at Dubai, and 1382 centers.

IDBI Bank car Loan: Overview

Among several banking solutions and financial services, IDBI Bank has attractive car loan offers for its customers. Known for easy and quick processing in comparison to other leading car loan providers, IDBI Bank car loans are much acclaimed by the borrowers. IDBI Bank aims to fund maximum loan amount a borrower is eligible for. IDBI car loans  are offered for all types, makes & models of cars  with competitive interest rates and repayment options that are flexible in nature.

Features of IDBI bank car loan

• Flexible loan tenures of up to 7 years
• EMIs for a car loan are calculated on a daily reducing basis, and can be paid back in a number of ways
• Low processing fees with waivers applicable during festive seasons
• After a period of 6 months, pre-payment or part foreclosure is allowed. A fee of 1% is applicable on the outstanding balance if the foreclosure is done before the stipulated tenure of 6 months.
• A penalty of 3% per month is applicable for  late or irregular payments
• Loan documentation charges are applicable.