Apply Now T&Cs Applicable

Interest Rate Starts at 13.99% per annum on loan against car
Loan tenure of up to 60 months on loan against car
Instant Approval under 15 mins

Interest Rate Starts at 13.99% per annum on loan against car
Loan tenure of up to 60 months on loan against car
Instant Approval under 15 mins

Overview
Features
Eligibility
FAQs

Apply Now

Loan Against Car

Financial emergencies are unpredictable. You may require funds urgently anytime and using your savings may not be feasible. IDFC FIRST Bank can provide a way out, offering quick and convenient funds through Loans Against Cars.Read More

You can get a loan against car to the tune of ₹50 Lakhs based on the car’s valuation. The application process is online, and approval takes under 15 minutes. Apply now!Read Less

Features

Substantial loan amount

IDFC FIRST Bank offers loans up to 200% value of your car

Affordable interest

The interest starts at 13.99% per annum. You can pay it off in easy EMIs.

Instant approval and handsome cash

You can expect instant approval for loans, with loans up to ₹50 Lakhs based on the car’s valuation

Easy application

Existing IDFC FIRST Bank customers can apply for car loans using the mobile app or net banking.

Fast disbursal

Get approval in 15 minutes with fully digital and paperless application process

How to Apply for Loan Against Car?

You can easily apply online via mobile or net banking or visit the nearest IDFC FIRST Bank branch. Follow the steps below for online application:

Step 1: Log into your bank account using the IDFC FIRST Bank mobile app or net banking

Step 2: Select ‘Loan against car’ in the loan section

Step 3: Fill out the application form

Step 4: You’ll receive IDFC FIRST Bank’s reply shortly through the mail.

ELIGIBILITY

Eligibility For Loan Against Car

Individuals above 21 years of age and not more than 70 years (for self-employed) and 60 years (for salaried) at the end of loan tenure
Salaried and self-employed individuals can apply

Documentation

Documentation Required

Valid Identity Proof (PAN Card/Aadhar Card/Passport/Voter ID)
Address Proof (Aadhar Card/Driving License/Passport)
Net Banking or Debit Card details to set up e-Mandate
Three months’ salary slip for salaried customers
Statement of account
Latest six months bank statements (EMI DEBIT)
RC Book and Insurance copy of the vehicle

FREQUENTLY ASKED QUESTIONS

How does a Loan Against Car Work?

As the name suggests, a loan against a car provides funds by using your car as collateral. Using this product, you can acquire higher loan amounts at lower interest rates and meet your financial needs.

How much loan can I get against my car?

You can get loan of up to 200% of the valuation of your pre-owned car basis your credit score and Bank's internal assessment criteria.

What is the rate of interest on loan against car?

Loan against car interest rates starts from 13.99% per annum.