IDFC First Bank Car Loan in Purnea, Bihar

Bring the car of your dreams home with IDFC First Bank Car Loan. With a hassle-free application process, you can apply for a car loan. IDFC First Bank Car Loan can help you drive your new car home with a flexible EMI plan and loan tenure of up to 10 years.

EMI Calculator

Loan Amount

₹

500000

No. of Months

months

Rate of Interest

Monthly EMI

₹

₹ 32,124.56

Total Interest

₹

10,622.78

Principal Amount

₹

500000

Payable Amount

₹

160,622.78

Pay No.	Begining Balance	EMI	Principal	Interest	Ending Balance
1	150000.00	32124.56	28637.06	3487.50	121362.94
2	121362.94	32124.56	29302.87	2821.69	92060.07
3	92060.07	32124.56	29984.16	2140.40	62075.91
4	62075.91	32124.56	30681.30	1443.26	31394.61
5	31394.61	32124.56	31394.64	729.92	-0.03

IDFC First Bank Car Loan Important Information

Loan tenure up to 10 years

Up to 100% on road funding

Nil foreclosure charges

Eligibility Criteria for IDFC First Bank Car Loan

For Self-Employed Individuals:

Resident Indians only

Aged between 23-70 years

Minimum 4 years of business continuity

Must earn minimum ₹1.5 lakh per annum

Tenure duration 12 months - 300 months

For Salaried Individuals:

Resident & Non-Resident Indians

Aged between 21-60 years

Minimum 3 years of experience

Must earn minimum ₹1 lakh per annum

Tenure duration 12 months – 360 months

Documents Required for IDFC First Bank Car Loan

Proforma invoice

Bank statement

Any other document required for specific program

Fees & Charges for IDFC First Bank Car Loan

EMI Bounce charges per presentation: 2% per month of the unpaid EMI or Rs 300 whichever is higher

Cheque Swap charges (per swap): 500

Cancellation & Rebooking charges: 10000 towards Cancellation. + Additional Interest charges from date of disbursal till receipt of cancellation. Cancellation to be received within 30 days or 1st EMI presentation date whichever is earlier. Post which it will be treated as foreclosure.

Foreclosure / Prepayment charges: 5% of principal outstanding amount

Loan rescheduling charges (per re scheduling): NA

Physical Repayment Schedule: 500

Physical Statement of Account: 500

Document retrieval charges (per retrieval): 500

Stamping Charges: As per actuals

Processing fees: Up to 3.5% of the total amount

FAQ for IDFC First Bank Car Loan

What is my loan eligibility?

IDFC FIRST Bank offers up to 90% of the ex-showroom price as a new car loan. Loan amount up to Rs. 50 lakhs basic income and banking.

What are the documents required for the loan?

The documents required for the loan by IDFC FIRST Bank are easy to obtain and can be self-attested. After you submit the documents, we will process your application. The documents required for the loan are listed above.

How much time does it take to process the loan?

It would generally take 1 day to sanction the loan, 2 days for post-sanction processing and disbursal. Apply for a car loan today.

How to pay EMIs? What about prepayment?

You will repay your loan in Equated Monthly Instalments (EMIs). You can pay EMIs through ECS/Mandate option. When it comes to in-car loans, you cannot make part payments. You'll have to pre-pay the entire loan. You can also use our online car loan EMI calculator and decide accordingly. Additionally, please check our charges section for knowing foreclosure charges.

Can I get a loan to purchase a pre-owned car?

Yes, IDFC FIRST Bank offers loans to purchase second-hand cars.

Note: This content is taken from IDFC First Bank website

Purpose for Car Loan

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