IDFC First bank used car loan lets you buy the car of your dreams at less effort and attractive interest rates. The bank makes sure you are challenged by finances when it comes to getting your favorite car driving. The IDFC bank Second Hand car loan is offered at competitive rates starting from as low as 12.99% for a repayment tenure going up to 60 months. The bank gives you the experience of seamless application procedure and allows you to go ahead with zero processing fees.
|
Loan Amount |
Up to 90% of car value |
|
Interest Charges |
Starts at 12.99% per annum |
|
Processing Fees |
NIL |
|
Repayment Tenure |
Up to 5 years |
|
Prepayment |
Up to 5% of principal outstanding |
You will find all the important features in IDFC bank second hand car loans. The bank brings this loan featuring affordable rates and easy tenure options and thus you can consider IDFC Bank Used Vehicle loan if you haven’t found the lender that matches your requirements.
Let’s count the major features of IDFC used car finance:
When applying for a loan, you have to make sure you keep up with the IDFC bank pre-owned car loan eligibility criteria. The bank takes your age, employment status, income etc. into check when it comes to determining your eligibility.
Here is the eligibility criteria for IDFC bank used car loan:
You have to keep all the IDFC bank used car loan required documents in check when heading to apply for the loan.
Here are the documents required for IDFC bank second hand car loan:
|
Documents |
Salaried Applicants |
Self Employed Applicants |
|
Identity Proof |
Aadhar Card, Voter’s ID Card, Passport, Driving Licence |
Aadhar Card, Voter’s ID Card, Passport, Driving Licence |
|
Address Proof |
PAN Card, Voter’s ID Card, Passport, Driving Licence, Utility Bills such as Electricity, Telephone, Water Bills |
PAN Card, Voter’s ID Card, Passport, Driving Licence, Utility Bills such as Electricity, Telephone, Water Bills |
|
Income Proof |
Salary Slips, Bank Statements, Form 16 |
Balance sheet and profit and loss account, IT Returns, Business Proof |
|
Other Documents |
Passport-size Photographs, Duly Filled Application Form |
Passport-size Photographs, Duly Filled Application Form |
Here are the steps that you can follow in order to calculate IDFC bank pre-owned car loan EMI using the IDFC used car loan EMI calculator:
The payable IDFC bank used car loan EMI will now be visible below the calculator.
Here are the different ways to apply for IDFC bank second hand car loan:
If you want to apply for IDFC bank used car loan, then you can visit the nearest branch of IDFC First bank where the bank official will guide you through the used car loan application.
Since you will be needed to submit documents required for IDFC bank second hand car loan application, make sure you carry them when visiting the branch.
You have an option to apply for IDFC bank pre owned car loans online which is simple and less time-consuming.
Here are the steps you need to follow to apply for an IDFC bank used car loan online:
You can also get in touch with the IDFC bank customer support to know more about the second hand car loan application procedure.
In case of any assistance regarding the IDFC bank used car loan, you can reach out to the IDFC bank customer support.
Here is the IDFC bank pre owned car loan customer care number which you can dial in case of any query, grievances or feedback:
Contanct Number - 1800 419 4332
Contact for Loan - 1860 500 9900
IDFC bank second hand car loan interest rates start at 12.99% per annum.
IDFC bank charges zero processing fees on IDFC bank used car loans.
Yes, you can make IDFC bank second hand car loan prepayment and foreclose the loan.
The IDFC bank charges a foreclosure fee of 5% on making prepayment of a pre owned car loan.
There are two ways to apply for IDFC used car loan:
You can give a call to the IDFC First bank customer support for further queries related to the used car loan application.
The IDFC bank second hand car loan repayment tenure ranges up to 5 years.
Here is the IDFC bank second hand car loan eligibility criteria for self employed individuals:
Know More About
You're eligible for a Idfc First Bank Used 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 Used Car Loan 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
Updated on 25 Nov 2017
| Idfc First Bank Used Car Loan Details | |
|---|---|
| Interest Rate (Monthly reducing balance) | 12.99% - 0% |
| Processing Fees | Nill |
| Loan Tenure | - year to - years |
| Pre-closure Charges | Varies with bank |
| Guarantor Requirement | Varies with bank |
Used Car Loan EMI Calculator