IndusInd Bank Car Loan Interest Rate – Complete Guide & EMI Tips

Key Insights 

1. Try the IndusInd Bank car loan interest rate calculator to see your EMI, especially if you are considering a 5-year loan.

2. Choose a new car loan with flexible repayment options, or select a used car loan with up to 84 months to pay it back.

3. Remember to include the 3% processing fee. You can apply online right away or visit a branch if you prefer in-person help.

Are you ready to buy a new car and start thinking about a loan? Start by checking the IndusInd Bank car loan interest rate. You can use the IndusInd Bank car loan interest rate calculator to quickly see your EMI.

The IndusInd Bank car loan interest rate is the key factor that determines your monthly EMI. If you want to know the exact IndusInd Bank car loan interest rate for 5-years loan, you can use their online calculator to get a clear estimate.

Example:

I want to buy an SUV. I tried the IndusInd Bank car loan calculator for a ₹10,00,000 loan. With a 9.5% rate over 5 years, my EMI came to ₹20,998. I also downloaded my IndusInd Bank car loan statement online, which helped me keep track of payments and budget better.

Types of Car Loans Offered by IndusInd Bank 

If you’re looking for a new sedan or a used SUV, IndusInd Bank has car loans that fit your needs.

Here is the list of the types of car loans, interest rates, and features provided by IndusInd Bank:
 

If you’re looking for a new car or a reliable used one, IndusInd Bank offers car loans to help you get started.

Bonus Tip: You need to have lived in the city for at least 2 years and in your current home for at least 1 year. If you own your home, there is no minimum stay required.

IndusInd Bank Car Loan Processing Fees & Charges

Find out the real on-road price. Learn how IndusInd Bank’s car loan processing fees affect your total loan amount and monthly payments.
 

Plan your budget carefully. Remember to include the 3% processing fee so you know the full cost of your IndusInd Bank car loan.

How to Apply for an IndusInd Bank Car Loan?

Excited to get your new car? Here’s how you can quickly apply for a car loan with IndusInd Bank.

Online Process:

• Type “IndusInd Bank” into Google and search.
• Click on the loan section to see options for new-car and used-car loans. Choose the one you want.
• On the next page, you will find the “Apply Now” button.

Offline Process:

• Visit your nearest IndusInd Bank branch.
• Talk to a loan officer and ask for the car loan application form.
• Fill out the form and submit it along with your KYC, income, and vehicle documents.
• Pay the processing fee, which is 3% for both new and used cars.
• The bank will check your details, review your eligibility, and assess the value of the vehicle.
• Once approved, sign the loan agreement.
• The loan amount is usually sent directly to the car dealer.

Apply for your new car loan with IndusInd Bank online or at a branch and get quick approval.

Conclusion

Start by using the IndusInd Bank car loan interest rate calculator to figure out your EMI. Next, include the 3% processing fee and pick the application method that works best for you, either online or offline. This way, you can confidently secure your new or used car.

FAQs

What’s the car loan interest rate right now?  

Car loan interest rates in India usually fall between 7.6% and 11%. The exact rate depends on the bank, your credit score, the type of loan (new or used car), the loan period, and any special offers. Some banks offer rates below 8% if you have a good credit score, while rates for used cars can be higher. 

Is interest really this high right now for EVs or regular car loans? 

Right now, auto loan interest rates are higher than usual because of the overall economy. Still, if you’re buying a new electric vehicle, you’ll often find slightly lower rates than for regular gas-powered cars. This is meant to encourage more people to choose green transportation.

What are the interest rates for various loans in India? 

Interest rates in India vary based on the type of loan, the bank, your credit score, and the state of the economy. Home loans usually start at lower rates, around 7.15% to 9%. Personal loans are higher, from 10% to 24% or more. Auto loans are in the middle, between 9% and 15%. Education loans often have some of the lowest rates, starting at about 7%. Business loan rates depend on MSME status and are often linked to repo rates, ranging from 10.85% to 17.95%.

If I have 7 lakhs in my account and want to buy a car, should I take a 7 lakh car loan at 7.5% for 7 yrs, or invest my money for 7 yrs?  

If you take a loan of ₹7 lakhs at a 7.5% interest rate for 7 years, you will pay about ₹2.15 lakhs in interest. This is the extra amount you pay for borrowing from the bank instead of using your own money.

Do I have to provide security for this loan scheme?

The car you are buying will serve as the security for your loan. It must be hypothecated to IndusInd Bank after your loan is approved and before the money is given to you.
 

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About the Author

LoansJagat Team

‘Simplify Finance for Everyone.’ This is the common goal of our team, as we try to explain any topic with relatable examples. From personal to business finance, managing EMIs to becoming debt-free, we do extensive research on each and every parameter, so you don’t have to. Scroll up and have a look at what 15+ years of experience in the BFSI sector looks like.