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Personal, home, vehicle & other loans

IB Vehicle Loan

Finance for new cars, new two-wheelers and used cars, with separate published amount, tenure, margin and income rules for each vehicle type.

Interest rate7.55% to 8.85% p.a. floating for IB Vehicle Loan in Indian Bank's current rate table; separate rows also list Eco Vahan at 7.50%–8.75%, used-car purchase at 9.55%–11.65% and two-wheelers at 8.90%–10.40%.Maximum amountNew car up to ₹5 crore; new two-wheeler up to ₹10 lakh; used car up to ₹3 crore.Repayment tenureNew car maximum 84 months; new two-wheeler maximum 48 months; used car maximum 72 months.
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Quick eligibility check

IB Vehicle Loan

0 of 9 answered

Answer what you know. This guide compares your answers with the criteria published for this product; it is not an approval decision. Your answers stay on this device.

1Does your annual income meet this requirement: New car: salaried gross monthly income ₹25,000?

Published source: Minimum income

2Do you meet this requirement: pension ₹20,000 monthly?

Published source: Minimum income

3Does your annual income meet this requirement: professional/self-employed/business net annual income ₹3 lakh?

Published source: Minimum income

4Does your annual income meet this requirement: New two-wheeler: salaried net salary ₹10,000?

Published source: Minimum income

5Do you meet this requirement: pension ₹10,000?

Published source: Minimum income

6Document checkDo you have this required document or proof: Proof of employment and salary certificate?

Published source: Eligibility

7Document checkDo you have this required document or proof: Proof of other income, if any?

Published source: Eligibility

8Document checkDo you have this required document or proof: Three years' balance sheets and income-tax returns for professionals/businesses?

Published source: Eligibility

9Document checkDo you have at least one of these required documents: Six months' bank statement or passbook?

Published source: Eligibility
0 of 9 answeredAnswer the remaining questions to see your checklist result.
✓ Manually checked 31 Aug 2026 · active
Offered byIndian Bank

India; and branch conditions apply where relevant

Key facts

What the official sources publish

Every value belongs to this exact product. Expand any fact to inspect its official evidence in place.

Loan typeVehicle loan covering new car, new two-wheeler and used-car finance.View source
The official page compares New Car, New Two Wheeler and Used Car routes.
Source
IB Vehicle Loan — Indian Bank
Page / section
Product title and vehicle features table
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
Interest rate7.55% to 8.85% p.a. floating for IB Vehicle Loan in Indian Bank's current rate table; separate rows also list Eco Vahan at 7.50%–8.75%, used-car purchase at 9.55%–11.65% and two-wheelers at 8.90%–10.40%.View source
The current vehicle-loan rows publish the ranges for standard, Eco Vahan, used-car and two-wheeler routes.
Source
Interest Rates on Personal Segment Loan Products: Floating — Indian Bank
Page / section
Vehicle Loan rows
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
BenchmarkThe current vehicle-loan rate rows are labelled floating but do not identify a named benchmark or spread.View source
The official rate table publishes floating ranges without naming a benchmark.
Source
Indian Bank vehicle-loan rate review
Page / section
Vehicle Loan rows
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
APRNo separate APR percentage or APR calculation is published on the IB Vehicle Loan page or current floating-rate table.View source
The reviewed sources publish interest ranges and fees but no calculation.
Source
IB Vehicle Loan rate review
Page / section
Vehicle features and current rate table
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
Minimum incomeNew car: salaried gross monthly income ₹25,000; pension ₹20,000 monthly; professional/self-employed/business net annual income ₹3 lakh. New two-wheeler: salaried net salary ₹10,000; pension ₹10,000; professional/self-employed/business net annual income ₹1.50 lakh. Used car: salaried net salary ₹20,000; pension ₹20,000; professional/self-employed/business net annual income ₹3 lakh. Firms and companies must have generated net profit during the last two years.View source
The official income table publishes the occupation and vehicle-specific thresholds.
Source
IB Vehicle Loan — Indian Bank
Page / section
Income Eligibility Criteria for Vehicle Loans by Occupation and Vehicle Type
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
Maximum amountNew car up to ₹5 crore; new two-wheeler up to ₹10 lakh; used car up to ₹3 crore.View source
The official comparison table publishes the three quantum ceilings.
Source
IB Vehicle Loan — Indian Bank
Page / section
Comparison of Vehicle Loan Features
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
Repayment tenureNew car maximum 84 months; new two-wheeler maximum 48 months; used car maximum 72 months.View source
The official comparison table publishes maximum repayment periods for each vehicle type.
Source
IB Vehicle Loan — Indian Bank
Page / section
Comparison of Vehicle Loan Features
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
Processing feeNew car: ₹1,200 plus GST. New two-wheeler: 1% of loan amount. Used car: 1% of loan amount, capped at ₹10,000; GST applies as stated in the schedule.View source
The current schedule publishes the car fixed fee, two-wheeler percentage and used-car cap.
Source
Processing Fee on Personal Segment Loan Products — Indian Bank
Page / section
IB Vehicle Loan (Car); IB Vehicle Loan (2 Wheeler); IB Vehicle Loan (Used Car)
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
Prepayment / foreclosureNil prepayment charge for individual borrowers; 2% of outstanding balance for non-individual borrowers, as stated on the current vehicle-loan page.View source
The official vehicle-loan terms distinguish nil individual and 2% non-individual prepayment charges.
Source
IB Vehicle Loan — Indian Bank
Page / section
Prepayment / foreclosure terms
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
EligibilitySalaried, professional, businessman, self-employed, NRI, pensioner and eligible bank employees with NOC can apply, subject to the vehicle-specific income table and the bank's appraisal.View source
The page lists eligible customer groups and separate income conditions by vehicle type.
Source
IB Vehicle Loan — Indian Bank
Page / section
Eligible Customers; Income Eligibility Criteria
Accessed
31 Aug 2026
Confidence
high
Open official source ↗

Benefits and features

  • Up to ₹5 crore for a new car, ₹10 lakh for a new two-wheeler and ₹3 crore for a used car
  • Maximum repayment of 84, 48 and 72 months respectively
  • Vehicle hypothecation is the primary security
  • For loans above ₹25 lakh, collateral is required for the portion beyond ₹25 lakh

Eligibility

  • Published income floors vary by occupation and vehicle: new-car salaried gross monthly income ₹25,000, new two-wheeler salaried net monthly salary ₹10,000 and used-car salaried net salary ₹20,000.
  • Professionals and business customers must provide the stated income; firms and companies must have generated net profit for the last two years.

Passing a listed condition does not mean the bank will approve an application.

Documents the bank lists

  • Proof of employment and salary certificate
  • Proof of other income, if any
  • Three years' balance sheets and income-tax returns for professionals/businesses
  • Six months' bank statement or passbook
  • Driving licence
  • Authorised-dealer vehicle quotation

Related official documents

Processing Fee on Personal Segment Loan Products — Indian Bankofficial-fee-schedule · current · accessed 31 Aug 2026
↗
Interest Rates on Personal Segment Loan Products: Floating — Indian Bankofficial-rate-table · current · accessed 31 Aug 2026
↗
IB Vehicle Loan — Indian Bank official product pageofficial-product-page · current · accessed 31 Aug 2026
↗

Plan before applying

Try the numbers

Private, instant and based on the values you enter.

Try your numbers

Loan repayment estimate

See what the loan could cost each month. Move any slider to try a different amount, rate or repayment time.

One monthly payment₹21,696twenty-one thousand six hundred ninety-six rupees
Interest paid over the full loan₹27,06,939twenty-seven lakh six thousand nine hundred thirty-nine rupees
Everything you repay₹52,06,939fifty-two lakh six thousand nine hundred thirty-nine rupees

This is only an estimate, not a bank or insurer offer. The final amount can change because of taxes, fees, rate changes and provider rules.

Use the published table

Find the exact published value

Choose a table, then pick its row and column. This shows the exact entry published by the bank or insurer without making you scan every cell.

Maximum amount · New carUp to ₹5 crore

This value is copied from IB Vehicle Loan — published terms. Check the table notes before relying on it.

Source: IB Vehicle Loan — Indian Bank · Comparison and Income Eligibility tables; security and document list Open official source ↗

Published tables

Complete rates, limits and schedules

Tables preserve every reviewed row and column from the cited official source.

Table 1 · 10 rows · 4 columnsIB Vehicle Loan — published termsCurrent Indian Bank new-car, new-two-wheeler and used-car finance limits, tenures, margins, income conditions and security.View tableHide table

Scroll sideways to view every column

IB Vehicle Loan — published terms
ParameterNew carNew two-wheelerUsed car
Maximum amountUp to ₹5 croreUp to ₹10 lakhUp to ₹3 crore
Maximum repayment84 months48 months72 months
Margin10%–15%25%–30%20%–30%
Minimum salaried incomeGross monthly ₹25,000Net monthly ₹10,000Net monthly ₹20,000
Minimum pensionMonthly pension ₹20,000Monthly pension ₹10,000Monthly pension ₹20,000
Professional / self-employed incomeNet annual ₹3 lakh as latest Net annual ₹1.50 lakh as latest Net annual ₹3 lakh as latest
Processing fee₹1,200 + 1% of loan amount1% of loan amount, maximum ₹10,000
SecurityVehicle hypothecation; collateral for the portion above ₹25 lakhVehicle hypothecation; collateral rule applies above ₹25 lakhVehicle hypothecation; collateral rule applies above ₹25 lakh
PrepaymentIndividuals nil; non-individuals 2%Individuals nil; non-individuals 2%Individuals nil; non-individuals 2%
DocumentsEmployment/salary, income, bank, driving-licence and dealer quotation documentsEmployment/salary, income, bank, driving-licence and dealer quotation documentsIncome, bank, driving-licence, dealer quotation and vehicle valuation documents
IB Vehicle Loan — Indian Bank · Comparison and Income Eligibility tables; security and document list · accessed 31 Aug 2026Open official source ↗

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