Car / Commercial Vehicle Loans

IDFS advantage in car / commercial vehicle loans

More than 29+ products for New and used Car loan products.

More than 10+ products for commercial vehicle loans and FLeet.

Introduction

• Loan to both salaried and self-employed customers
• Loan provided for purchasing both new and used vehicles
• Loan for the purpose of both personal and commercial usage

Salaried Customers:

Salaried customers includes

• Employees of private limited and public limited companies
• Employees of reputed educational institutes
• Employees of reputed partnership or proprietary firm
• Salaried NRI, Persons of Indian origin (PIO) and Overseas citizens of india (OCI) customers.
• Employees / Pensioners of PSU and Govt. Departments

Self-Employed Customers:

Self-Employed customers includes

• Self Employed individual proprietor
• Partnership Firms and Limited Liability Partnership (LLP)
• Hindu undividual Family (HUF)
• Public and Private Limited companies
• Trust and Societies
• Educational institutions and
• Farmers

Age Norms:

Salaried employees: Min 21 years – Maximum upto 70 years including loan maturity age

Self Employed: Min 18 years (21 years for used car) – Maximum upto 75 years including loan maturity age

Tenure: 12 months to 96 months (Depends upon customer profile)

Residence stability: 1 year (To be validated from Application Form)

Work Experience for Salaried: 1 year over all experience. Profile operating from residence not eligible in salaried profile

Business stability for Self-Employed: 2 years in the same line of business (To be validated from Application form)

Product Offering:

• 100% and 8 years on-road scheme
• 85% and 7 years on-road scheme
• 100% Loan against 50% FD
• Farmers car loan
• Fleet funding product (Commercial)
• Repayment track product
• 100% on-Road Auto loan for 8 years for Govt / PSU employees scheme
• Car loan police special scheme (Min: Salary Rs.12000 /-) upto 90% on Ex-Showroom price
• Banking surrogate product
• First Time buyer Product – Commercial vehicle
• Balance transfer and Top-up – Used car
• Surrogate Product
• Refinance scheme and variants
• Parallel Loan product
• PSL category to Farm credit
• Priority Sector Lending (Manufacturing , Service and Trading industries) – (Micro, Small and Medium manufacturing Enterprise) ETC….,