Rate of interest in IndusInd bank in car loan
what IndusInd bank offer in new and old car loan ?
IndusInd bank offer a rate of interest to their costumer is depend upon what relationship they have with bank. but a normal rate of interest is start from 8.5% pa to 17% pa .
Interest rate on new car loan
- Interest rate – 8.5 % pa to 17% pa
- loan tenure – Up to 60 months that is 5 years
- processing fee – 5%
- finance – 100 % finance
IndusInd bank used Car loan rate of interest
- Rate of interest – 11% pa to 24 % pa
- Loan tenure -60 months (5 years)
- Processing fee – 5% on total amount
- funding amount – 100% funding
Other charges
- Documents charges – 5% on total loan amount
- Overdue charges monthly – 4 % of total outstanding amount
- foreclosure charges – 2% to 5% of total outstanding
IndusInd bank rate of interest are depend upon customer profile ?
The bank offers rate of interest on car loa or used car loan depends upon their profile and relationship the bank also most important is their CIBIL report .
SOME FEATURE ARE MENTIONS BELOW
- BANK RELATIONSHIP WITH COUSTMER – IndusInd bank or any other bank weather it is a public sector bank or a private sector banks offer a best rate of interest and low processing fee when customer is already a old Customer of bank and maintain a healthy relationship with Bank that is if he taken a loan or credit car from bank they have to pay all their Emi on time and maintain a Wealth relationship with bank .Maintaining a good balance in bank account also give a better offer to bank .
- DEALER DISCOUNT ON CAR LOAN – Almost all banks had tie up with all dealer near their area surrounding .when your are buying a new car from showroom always ask for discount and bargain with the dealer point as they are taking all charges in deal you have to ask always how much discount you are given to me . after cross check from different dealer than decide to deal which one is good or not . NOTE – it will happen only before u book the car .
FAQs on IndusInd bank
- Why co applicant is needed some time in New Car Loan – if a person is having a low salary that is below than 25 thousand or its your first car loan then it will be necessary that bank ask you to share co applicant details . because it was your first secured loan with bank . banks do want to take risk so for their credit satisfaction they are asking you to submit co-app details . NOTE -if there is having any issue in co applicant CIBIL bank will denied to give loan so if you are sharing detail first confirm with your co applicant that all are ok in CIBIL .
- Is Rate of interest Automatic increase by bank ? NO it will not happen in public banks and private banks . it will happens only when RESERVE BANK OF INDIAN https://www.rbi.org.in/ increases rate of interest in loan amount of all types of loans.
- IS Car Loan is Secured loan or UN secured loan ? Yes Car loan is a secured loan .it also mention on your R C that car finance by this bank that bank and please NOTE if you are not paying Emi to bank more than 3 months your car will be forfeited by bank from their Recovery agent .
- Why we take insurance on car loan ? It is necessary to take ca insurance in all types of loan taken from bank . because being a x ICICI bank employ i suggest this personally because if some thing wrong happen with you or your car you can claim it from banks . its like a secured your self with any mishappen with car you ca claim easily were u taken insurance.
- Is we get any offer without given documents ? YES it called a pre approved eligibility which bank gives u as per your transaction and salary credit to bank
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