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….,