Lifetime FREE Credit Card with 10X rewards
Most Searched
Top Products
Popular Searches
Bank Accounts
Populer FAQs
Signature is important and it is required to avail various products and services. To upload your signature
1. Go to More
2. Select Customer Service Dashboard
3. Select ‘Savings/Current Accounts’
4. Select ‘Upload Signature’ to upload your signature.
That's easy! Follow these steps to track your service requests:
1. From the home page of the app, tap on "Customer Service" section
2. Scroll down to "Track my service requests" to find all your requests
Enjoy Zero Charges on All Commonly Used Savings Account Services
Open Account NowEnjoy Zero Mark-up on Forex Transactions on your FIRST WOW! Credit Card
Apply Now
Avail instant Pre-owned car loan sanction with minimal documentation
With IDFC FIRST Bank pre-owned car loan, we give you the best interest rates on pre-owned car loans . Get Interest rates as low as 10% (repurchase) & 12.50% (refinance). Apply for pre-owned car loan online with us and avail instant sanction with minimal documentation. You can also avail loan up-to 200% LTV of your asset value with our Car N Cash scheme.Read More
Check out the table below to know the pre-owned car loan interest.
Types of Fees | Applicable Charges |
---|---|
Processing fees | Up to 5% of the total loan amount (Inclusive of GST) |
Late payment fees | 2% per month (Inclusive of GST) of the unpaid EMI or Rs 300 (Inclusive of GST) whichever is higher |
Stamping Charges | As per actuals |
The pre-owned car loan interest at IDFC FIRST Bank is subject to customer's risk profile. Refer to the table below to know the current personal loan rates.
Product type | ROI % |
---|---|
Pre-owned car loan (Repurchase) | ROI Starting from 10%* |
*The above rate is applicable to loan amount above ₹1 lakh and tenure >=37 months
Product type | ROI % |
---|---|
Pre-owned car loan (Refinance) | ROI Starting from 12.50%* |
*The above rate is applicable to loan amount above ₹1 lakh.
IDFC FIRST Bank offers transparency in pre-owned car loan schemes and loan charges. We do not have hidden loan interest, prepayment charges, and processing fees.Below are the foreclosure and part payment charges :-
IDFC FIRST Bank has an online EMI calculator that you can use to check your monthly EMI. The EMI calculator has three parts: loan amount, tenure, and rate of interest. You can use it by entering the loan amount you need, the applicable rate of interest and the tenure for which you want the loan. Once you enter these details, the EMI calculator will give you the EMI.
A processing fee is the one-time cost that the bank imposes to cover the administrative charges related to the loan processing. IDFC FIRST Bank offers one of the lowest processing fees on used car loans starting at just 1% of the principle borrowed amount or Rs. 5000, whichever is higher.
Part prepayments are not allowed on pre-owned car loans from IDFC FIRST Bank. However, you can foreclose your loan by paying a foreclosure charge as applicable.
You can reduce your financial liabilities anytime by foreclosing your pre-owned loan before the maturity date. To foreclose your pre-owned car loan from IDFC FIRST Bank, you need to pay a charge of 5% of the outstanding loan amount along with the applicable GST charges.
A guarantor is not required to apply for a used car loan with IDFC FIRST Bank. However, in case an applicant doesn’t meet the specific loan eligibility requirements, the bank may need a co-applicant to approve the loan amount.
Part prepayments are not allowed on used car loans. However, you can foreclose your loan anytime by paying the outstanding amount in full. To close the loan before maturity, you need to pay a foreclosure charge of 5% of the outstanding amount along with the GST.
Used car loans from IDFC FIRST Bank are collateral-free, meaning you don’t require to provide any security when applying for a second-hand car loan.
The bank offers different methods to repay your loan with the easiest one being the payment through automated EMIs. You can automate your EMI payments using the NACH, eNACH, and e-mandate option that can be opted during the loan application. Additionally, you can also use your net banking or debit card to repay your 2nd hand car loan.