| Indian Overseas Bank Car Loan |
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| Introduction |
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| Indian Overseas Bank provides vehicle loans for buying a new or used car (not more than 5 years old) or new two-wheeler. |
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| Highlights |
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New Car |
Used Car |
| Loan Type |
Term Loan |
Term Loan |
| Ex-Showroom/On Road |
On Road |
On Road |
| Loan Amount |
Up to 90% of the cost of the car.
New two-wheeler - 90% of the cost of the vehicle or 10 times the gross monthly income or Rs.60,000/- whichever is lower.
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Up to 75% of the market value of the car.
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| Tenure |
Max. - 84 months.
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Max. - 84 months.
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| Interest Rate |
10.75 % |
10.75 % |
| Preferred Manufacturers |
Bajaj, Chevrolet, FIAT, Ford, GENERAL MOTORS INDIA, Hero Honda, HINDUSTAN MOTORS, Honda, Hyundai, Indus, Kinetic, Mahindra, Maruti Suzuki, Mercedes Benz, Mitsubishi, Nissan, Reva, Royal Enfield, SAN Engineering, Skoda, Suzuki, Tata Motors, Toyota, TVS, Yamaha |
Chevrolet, FIAT, Ford, GENERAL MOTORS INDIA, HINDUSTAN MOTORS, Honda, Hyundai, Mahindra, Maruti, Mercedes-Benz, Mitsubishi, Nissan, Reva, SAN Engineering, Skoda, Tata Motors, Toyota |
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 Fees & charges
Fees & charges
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New Car |
Used Car |
| Stamp Duty |
As Per Actuals |
As Per Actuals |
| Legal, Repossession and Incidental Charges |
As Per Actuals |
As Per Actuals |
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| Comment on Charges |
Processing charges: For loan upto Rs. 2 lakh, Rs. 134/- in rural areas and Rs. 168/- in other areas.
For loan above Rs. 2 lakh, Rs. 134/- per Rs. 1 lakh or part thereof, in rural areas and Rs. 168/- per Rs. 1 lakh or part thereof, in other areas. |
Processing charges: For loan upto Rs. 2 lakh, Rs. 134/- in rural areas and Rs. 168/- in other areas.
For loan above Rs. 2 lakh, Rs. 134/- per Rs. 1 lakh or part thereof, in rural areas and Rs. 168/- per Rs. 1 lakh or part thereof, in other areas. |
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