What's special about us
Zero Charges on 28 Commonly Used Savings Account Services
- About Us
- MD & CEO letter about the bank
- MD & CEO
- Our History
- Letter to Shareholders on the 1st Annual Report after Merger
- Letter to Shareholders on the 2nd Annual Report after Merger
- Letter to Shareholders on the 3rd Annual Report after Merger
- Letter to Shareholders on the 4th Annual Report after Merger
- Board of Directors
- Awards & Accolades
- News Room
- Investors
- Careers
- ESG
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As per amendment in the Income Tax Rules, PAN or Aadhaar are to be mandatorily quoted for cash deposit or withdrawal aggregating to Rupees twenty lakhs or more in a FY. Please update your PAN or Aadhaar. Kindly reach out to the Bank’s contact center on 1800 10 888 or visit the nearest IDFC FIRST Bank branch for further queries.
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Competitive interest rates starting at 9.75%
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Loan tenure up to 10 years
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Up to 100% on road funding
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Competitive interest rates starting at 9.75%
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Loan tenure up to 10 years
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Up to 100% on road funding
New Car Loan
Bring home your dream car with IDFC FIRST Bank New Car Loans. With a hassle-free application process, you can apply for a new car loan and get doorstep loan assistance from our associates.Read More
IDFC FIRST Bank New Car Loan can help you drive home your new car with a flexible EMI scheme and loan tenures up to 10 years.Read Less
Yet to pin down on your perfect car?
Checkout our online marketplace!
CALCULATOR
New Car Loan EMI Calculator
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Ravikanth KK
"I finalised the car I needed to buy on a Sunday, and the dealer gave me few options of banks for the loan, but basis my corporate salary account relationship I called up the IDFC FIRST Bank SPOC. I was impressed with their response on a non-working day. I am very happy to see IDFC FIRST Bank & their employees displaying their customer-first approach from the time of enquiry to delivery of the new car."
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Saud Alam
"I would like to thank and express my gratitude towards the staff of IDFC FIRST Bank Jamshedpur main branch. To my delight and astonishment my new car loan got disbursed within 3 days with very minimal and hassle-free documentation. I would like to thank my relationship manager and branch manager who went out of the way to provide such nice service. "
ELIGIBILITY
How To Apply?
- Step 1: Click on "Apply Now", enter your mobile number and verify the OTP.
- Step 2: Enter your personal details and click on submit button.
- Step 3: Our representative will connect with you within next 24 hours.
- Or, give us a missed call on 8448986445, and our representative will contact you.
Documentation
FEES & CHARGES
Find out about our minimal and transparent fees & charges
FREQUENTLY ASKED QUESTIONS
What is a new car loan?
A new car loan is availed to help your purchase your dream car at affordable monthly EMIs.
What is the best way to apply for a new car loan?
You can click here to apply for a car loan online or apply through the IDFC FIRST Bank Mobile Banking App or give us a missed call at 8448986445.
Why should I get new car loan from IDFC FIRST Bank?
With an industry-first 10-year loan tenure program, competitive interest rates and zero foreclosure charges on floating interest rates, IDFC FIRST Bank enables you to buy your dream car with a comfortable and affordable payment schedule and without stressing your monthly budget.
What is the Car Loan Interest Rate that IDFC FIRST Bank offers?
With a car loan interest rate starting at as low as 9%* per annum, IDFC FIRST Bank enables you to buy your dream car without stressing your finances.
What is the maximum tenure for a car loan that IDFC FIRST Bank offers?
The maximum tenure for car loan can be up to 10 years basis your credit score and Bank's internal policies.
What is the maximum loan amount that IDFC FIRST Bank offers on a car loan?
The maximum amount you can avail on a car loan is Rs. 2 Crores basis your credit score and Bank's internal policies.
Can I get 100% funding on a new car loan?
Yes, you can get a new car loan of up to 100% of the ex-showroom price of your new car basis your credit score and Bank's internal policies.
How much time does it take to process a new car loan?
It takes just 1 day to sanction your new car loan and further 2 days to process the payment after all the relevant documents have been provided.
How can I check the tentative car EMI before I apply for the loan?
A key factor in getting a car loan is determining how much EMI you are comfortable paying. We suggest you use our Car Loan EMI calculator
How does fixed or floating rates impact my car loan EMI?
When you choose a floating rate of interest, your car loan EMI may fluctuate during the tenure of your loan basis repo rate changes by RBI. However, in a fixed rate of interest, the EMI will remain the same throughout the tenure of your loan.
How can I get my No-Objection Certificate (NOC) after loan repayment?
Post your car loan repayment, we will dispatch the No-Objection Certificate (NOC) to your address. If for some reason you have not received your NOC, you can also visit any of our branches. Our representative will assist you in getting a physical copy of your NOC.
Is it possible to get life insurance along with my loan?
Yes, you can get life insurance at the time of taking your car loan. IDFC FIRST Bank makes it simple to get insurance because you will be able to pay your premium amount along with the loan amount EMIs. This cuts down the need to pay a huge, one-time premium at the time of purchasing your vehicle. We also ensure that the insurance policies you get have the best possible terms and are made available to you at competitive prices.
How can I get my Statement of Accounts?
You can get your statement of account from IDFC FIRST Bank's Loan Statement Page or WhatsApp Banking - +91 95555 55555
*Terms and Conditions
Vehicle Loan
- ◉ All offers valid for limited period
- ◉ Loan sanction will be at sole discretion of the IDFC FIRST Bank
- ◉ EMI amount may vary as per loan tenure chosen
Car Loan Blogs
FEATURED
How does car loan tenure affect EMI calculation?
As a borrower, your repayment capacity and loan category determine your ideal term for a car loan. You pay less EMIs over the course of your loan when you have a longer loan tenure, but you pay more in interest over the course of the loan. Therefore, you need to choose a loan tenure that fits your budget while allowing you to pay off the loan within a reasonable timeframe.
Team FinFIRST24 Jul 2023 • 3 mins read
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The documents you need to get a car loan
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Getting a car loan without income documentation: A comprehensive guide
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Comparing rebate vs low-interest financing for cars
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