IndusInd Bank Used Car Loan

IndusInd Bank's second-hand car loan offers financing of up to 100% of the vehicle’s value. It features simplified eligibility criteria, a quick 48-hour processing time, and a fully digital application process, providing a fast and convenient way to acquire your pre-owned car.

It is important to understand the key interest rates and associated charges, as they directly impact your overall loan affordability. The following details outline the costs you should consider before applying: 

The IndusInd Bank pre-owned car loan provides excellent value, combining quick processing with attractive terms to help you acquire your vehicle without delay. Key benefits include:

• End-to-End Service

IndusInd Bank associates assist you throughout the entire car-buying journey. From researching your vehicle to title transfer and finalising the deal, they ensure a smooth and hassle-free process

• Easy Eligibility and Quick Processing

The loan comes with simple eligibility criteria and minimal documentation. The bank also offers doorstep support and fast disbursal to make financing convenient

• Attractive Loan Deals

IndusInd Bank provides competitive interest rates to reduce your overall repayment burden. Lower rates make EMIs more affordable and manageable

• Flexible Tenure Options

You can select a repayment tenure from 1 to 4 years, allowing you to tailor the plan to your budget and financial goals. Use the Bajaj Markets used car loan EMI calculator to estimate your monthly instalments

• High Financing Limit

The bank offers financing of up to 100% of your car’s value, subject to the vehicle’s cost and your credit profile.

IndusInd Bank's pre-owned car loan enables you to own your dream car with minimal eligibility requirements. It offers convenient financing to help you drive your own vehicle, ensuring a smooth and accessible loan process. The bank’s eligibility criteria are as follows: 

• Age: Minimum 23 years, up to retirement age

• Income: Minimum annual income of ₹2.5 Lakhs

• Employment: At least 1 year in the current job

• Residence: Minimum 1 year at the current residence and at least 2 years in the same city (Not required if you own a house)

In addition to meeting eligibility criteria, submitting the correct used car loan documents required is crucial to obtaining a used car loan. Required documents vary based on your employment type and must also include relevant proof pertaining to the vehicle. The details are as follows: 

• Asset Documentation

  • RC copy with original verified seal

  • Valuation report and vehicle inspection report

  • Copy of a valid insurance policy
    

• Income Proof (Salaried Applicants)

  • Form 16

  • Last 3 months’ salary slips

  • Latest Income Tax Returns

  • Recent bank statements
    

• No Income Proof / Self-Employed Applicants

  • Bank statements for the last 6 months

  • Business incorporation certificate or proof of business continuity for the last 3 years

  • Proof of owned residence for stability

Apply for a used car loan easily by following the steps listed below:

1. Visit the official IndusInd Bank website

2. Under the ‘Loans’ tab, click on ‘Used Car Loan’

3. Click on the ‘Apply Now’ button

4. Fill in the required details and submit the application

You can conveniently estimate your monthly instalments using a second hand car emi calculator. By entering the loan amount, repayment tenure, and applicable interest rate, the calculator will provide an instant breakdown of your EMI, total interest payable, and overall repayment amount.