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The car loan facility provided by IndusInd Bank is providing finance up to 85% of the ex-showroom price (depending on the model) of the car. 

This car loan facility comes with attractive interest rates which are calculated on a monthly reducing balance basis, Car Loan provided by IndusInd also gives flexible repayment options with repayment tenure up to 60 months.

IndusInd Bank Car Loan Highlights

Particulars New Car Loan Used Car Loan
Lowest EMI Rs. 2,059 per lakh Rs. 0 per lakh
Loan Amount Up to 85% of ex-showroom price Up to 75% of the vehicle value
Loan Tenure Up to 5 Years -
Processing Fee 5.00% Min Rs. 2,500 % Min Rs. 0 Max Rs. 0
Prepayment Charges 3% -

Feature & Benefits Of Indusind Bank Car Loan

1. Attractive Interest Rate : IndusInd Bank Car Loan offers the best and attractive interest rates starting from 10.65% up to 15.50%. Basically, the rate of interest will be decided by the bank according to the customer’s age, employment type, overall profile, and the most probably Cibil score.

2. Flexible Repayment Tenure : Indusind bank provides flexible repayment tenure for car loans and the minimum tenure is 1 year and maximum tenure is 4 years. 

The IndusInd bank car loans are taken to meet their sudden needs of the customers. 

3. Fast Loan Processing : Indusind bank provides fast car loan processing within 48 hours. Customers don't have to wait for so many days for this processing. 

By providing fast processing of car loans customers should be satisfied with the services.

4. Easy to apply online : Indusind Bank provides car loan approval in a very speedy way for the customers so they don't have to waste their precious time for loan approval. They can easily get approval for a personal loan online. 

With the online method, customers can easily apply for car loans from Indusind Bank.

5. Hassle-free and simple documentation : Indusind Bank provides simple and hassle-free documentation for the processing of car loans. The documents submitted by the customers are KYC, address proof, and income proof with the loan application form. 

It is not required to submit so many documents for a car loan. The process of documentation is very simple and fast.

Eligibility Criteria for  Indusind Bank Car loan

For applying to Indusind car loan you must be up to the eligibility criteria put up by the bank.

Following is the list: 

  • Salaried Individuals

    • Aged between 21 years and 60 years

    • Employed for a minimum of 3 years with at least 1 year with the current employer

    • Earn at least Rs. 2.5 lakh in a year

  • Self-Employed (Income and Non-income)

    • Should be in the business of trading, manufacturing, or services

    • Aged between 21 years and 65 years

    • Should have been in business for at least 3 years.

    • Minimum net profit of Rs.2 lakh in a year.

Fees and Charges of Indusind Bank Car Loan

Here is the list of certain fees and charges that you should be aware of while applying for Indusind Bank Car Loan:

Interest rate 10.65% to 15.50%
Processing fee 1% of the loan amount (Minimum Rs.2500) plus tax
Prepayment charges 3% of the principal outstanding amount
Payments dishonor charge Rs 450/- + taxes
Duplicate statement charge Rs 250
Cheque/ECS/ SI swapping charge Rs 500
Duplicate no due certificate Rs 250
Loan re-booking Rs 1000
Loan cancellation charge Rs 1000
Penal charge Rs 150

Documents Required for Indusind Bank Car loan

Here is the list of documents that are required to apply for the Indusind Bank Car Loan:

TYPE Id Proof Address proof Income proof
Salaried employees Aadhar card, pan card, passport, voter id Electricity bill, registry, rental agreement, voter id, Aadhar card Last 3-month salary slip, last 2 year Form 16 or ITR, last6-month bank statement 
Self-employed Aadhar card, pan card, passport, voter id Electricity bill, registry, rental agreement, voter id, Aadhar card Last 6-month bank statement, Form 16, latest ITR, business proof, Las t3-month salary slip


AXIS Bank Car Loan 9.05% to 11.30%
SBI Car Loan Scheme

8.00% to 10.75%

HDFC Bank Car Loan 8.80% to 10.50%
Kotak Mahindra Bank Car Loan 8.00% to 24%
Yes Bank Car Loan 9.25%
ICICI Bank Car Loan 9.30% to 12.85%
IDBI Bank Car Loan 9.30% to 9.90%
RBL Bank Car Loan 12% to 14%
IndusInd Bank Car Loan 10.65% to 15.50%
Bank of Baroda Car Loan 8.85%
Bank of India Car Loan 8.95%
Canara Bank Car Loan 7.75% to 10.30%
Indian Bank Car Loan 8.45%
Punjab National Bank Car Loan 8.9% to 9.35%


1. Indusind Bank Car Loan

2. Indusind Bank Personal loan 

3. Indusind Bank Credit Card

4. Indusind Bank EMI Calculator

How to Apply for an Indusind bank Car loan?

There are two ways to get a car loan with Indusind Bank i.e. 

  1. Offline Method: By visiting near Indusind Bank branch. 
  2. Online Method:
  • Initially visit Indusind bank official website
  • On the home page click on go to “Personal” section
  • Now go to on “Product” section and then click on “loans”
  • Select the “Vehicle loan”
  • Click on apply now and complete the application form carefully
  • Attached all mandatory documents with the application form and submit it
  • Now wait for few minutes and you will notice soon whether you are eligible for a loan or not


The following formula is used to calculate the EMI of Indusind Bank car loan :

EMI = [P x R x (1+R) ^N] / [(1+R) ^N – 1]


  • P is the principal amount, 
  • R is the interest rate on a monthly basis, and 
  • N is the number of installments.

Indusind Bank Customer Care


FAQs On Indusind Bank Car Loan

Q.1. How much loan amount limit for Indusind Bank car loan?

The loan amount for Indusind Bank car loan is 85% of the ex showroom of the car.

Q.2. How much interest rate is charged by Indusind Bank on car loan?

The interest rate is charged by Indusind Bank personal loan is 10.65% to 15.50%.

Q.3. What is the minimum and maximum tenure of car loan in Indusind Bank?

The minimum and maximum repayment tenure of Indusind Bank car loans is 1 to 4 years 

Q.4. Is age an important factor to get a car loan from Indusind Bank?

Yes, if you are salaried your age should be 21 years to 60 years and if you are self-employed your age should be 25 years to 65 years.

Q.5. How can I get an Indusind Bank car loan?

By directly visiting the nearest branch or can apply online at their website. 

Q.6. What is the method to repay the loan?

You can repay the loan by providing post-dated cheques or via ECS.

Q.7. Is it compulsory to have an account with IndusInd Bank in order to avail a car loan?

It is not mandatory for you to have an account with IndusInd Bank in order to avail a car loan.

 Q.8. Is there any need to provide collateral or security to avail the loan?

No, you need not provide security or collateral in order to avail of the loan.

Q.9. Can I add my spouse's income while applying for the car loan from IndusInd Bank?

You can combine your income with the income of your spouse to increase your loan eligibility and to get a higher loan amount.

Last Updated on : 19/Mar/2021

Know More About

Indusind Bank Car Loan

You're eligible for a Indusind Bank Car Loan if you:

Are legally adult enough to handle it

Have still got it

Get a regular pay check

Make more than a basic buck

Your eligibility depends on:

Earn more than minimum income required

Maximum allowed Car Loans is Rs. 10K to Rs. 45 lakhs

EMIs of other loans loweryour eligibility

Boost your eligibility by:

Pay off your credit card bills

Choose longer tenure loan up to 5 years

Nothing gets done without that paperwork (which we'll happily carry over to the bank for you, no sweat). Here's what you'll need:

  • 1. Photo ID and age proof
  • 2. Signed application form with photograph
  • 3. Residence proof
  • 4. Last 6 months bank statement
  • 5. Documentation for salaried applicants:
    • Last 3 months salary - slips
    • Form 16 or Income Tax Returns
  • 6. Documentation for self-employed applicants:
    • Last 3 years Income Tax Returns with computation of Income
    • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account

Indusind Bank Car Loan Interest Rates

Updated on 25 Nov 2017

Indusind Bank Car Loan Details
Interest Rate (Monthly reducing balance) 10.65% - 15.5%
Processing Fees 1 % of the loan amount (Mini. Rs.2500) plus tax
Loan Tenure 1 year to 4 years
Pre-closure Charges Varies with bank
Guarantor Requirement Varies with bank

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