Summary: A car loan LTV (Loan-to-Value) ratio indicates the percentage of the car’s value that the bank is willing to finance versus the amount you need to pay as a down payment. The higher the LTV ratio, the lower your down payment. IndusInd Bank offers car loans of up to 100% of the car’s value, along with flexible repayment tenures of up to 5 years, competitive interest rates, and quick loan processing.

Most people dream of owning a car, but the cost of purchasing one has increased significantly over the years. According to reports, the prices of cars under INR 5 lakh, the most price-sensitive segment, have surged by 65% in the last five years. Amidst these surging prices, car loans have become a popular solution, allowing you to bring your dream vehicle home without paying the entire amount upfront.

However, before applying for a car loan, it’s crucial to consider a few key factors. One important aspect is the Loan-to-Value (LTV) ratio, a metric that banks use to evaluate the borrower’s eligibility and the loan terms. This ratio helps buyers determine the percentage of the car’s value that can be financed through the loan.

Read on to learn more about the LTV ratio, its calculation, and its implications for a car loan.

What is the Loan-to-Value (LTV) Ratio?

LTV stands for Loan-to-Value and represents the ratio of the loan amount to the value of the asset purchased. For car loans, the LTV ratio indicates how much of the car’s price the bank will cover through the loan. This is a critical metric for both the lender and the buyer. For lenders, it helps assess the risk associated with a loan. It also informs buyers how much of the car’s value the bank is willing to finance and the amount they need to provide as a down payment.

How is it Calculated?

Calculating the LTV ratio is straightforward:

LTV Ratio = (Loan Amount/Price of the Car) ×100

For instance, if you purchase a car worth INR 10 lakhs and take a loan of INR 8 lakhs, the LTV ratio would be 80%. This means the lender would finance 80% of the car’s value, and you would contribute 20% as a down payment.

What is a Good LTV Ratio?

A higher Loan-to-Value (LTV) ratio is generally beneficial when applying for a car loan. A higher LTV ratio means the lender is willing to cover a significant portion of the car’s value, resulting in a lower down payment for you.

An LTV ratio of 80% is typically considered good. However, some banks, like IndusInd Bank, offer new car loans of up to 100% of the car’s value, covering the entire price. They also provide financing for the insurance and registration of your vehicle, further reducing your initial expenses.

However, the availability of a higher LTV ratio depends on several factors, including the vehicle’s cost and your credit profile. For example, a credit score of 600 or higher can increase your chances of qualifying for a higher amount.

IndusInd Bank’s Car Loans

IndusInd Bank offers car loans with attractive features such as:

1. Competitive Interest Rates

IndusInd Bank provides car loans at attractive rates, ensuring affordability and easing the financial burden.

2. Flexible Repayment Options

With a repayment period of up to 60 months (5 years), you can comfortably pay back via affordable EMIs.

3. Quick and Convenient Process

Accompanied by doorstep assistance, the loan application and documentation process is simple and streamlined for efficiency, ensuring quick access to the funds needed for your car purchase.

Drive Your New Car Home with an IndusInd Bank Car Loan

A good LTV ratio for a car loan is essential for securing favourable loan terms and maintaining financial stability. Aiming for an LTV ratio between 80-90% can significantly reduce initial expenses such as the down payment.

IndusInd Bank offers new car loans covering up to 100% of the car’s value, along with several unique benefits. These include a flexible and wide-ranging repayment tenure, attractive interest rates, and quick processing to ensure you promptly obtain the funds needed for your car purchase.

Visit the IndusInd Bank website today to apply for a car loan online and bring your dream car home.

Disclaimer: The information provided in this article is generic and for informational purposes only. It is not a substitute for specific advice in your circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for making any financial decisions based on the contents and information. 

Summary: IndusInd Bank’s car loan EMI calculator offers a wide range of benefits like effective financial planning, quick calculation, accurate results, effective loan comparison, and easy accessibility. It ensures borrowers have a clear understanding of their loan obligations and can evaluate their options effectively before applying for a new car loan.

Recent advancements in the financial sector have made it easier and more convenient for individuals to manage big-ticket expenses like purchasing a new vehicle. Instead of spending a significant amount of money upfront, customers now have the option to apply for a new car loan to afford their dream cars. This allows them to own a four-wheeler without any financial burden and repay the loan over time through manageable instalments.

But while loans have made it easier to realise the dream of car ownership, it is crucial to gauge your potential EMIs to ensure you can repay it comfortably. This is where IndusInd Bank’s car loan EMI calculator can be beneficial. It is a free online tool that helps borrowers calculate the estimated value of their new car loan EMIs and select the most suitable loan amount and tenure.

With this tool, borrowers can enter variables like loan amount, and tenure to instantly generate their potential car loan EMIs. This empowers them to select a plan aligning with their financial capabilities and goals, ensuring it is well-suited to their budgets.

Benefits of Using IndusInd Bank’s Car Loan EMI Calculator

IndusInd Bank’s car loan EMI calculator offers a suite of benefits designed to simplify the loan application process. These include:

1.  Efficient Financial Planning

One of the most significant benefits of a car loan EMI calculator is efficient financial planning. By entering details like the loan amount and tenure, borrowers can ascertain their potential loan EMIs before applying for a new car loan. This allows them to plan their finances effectively, ensuring loan repayments don’t affect their monthly budget.

2.  Quick Calculation

Being a digital tool, the car loan EMI calculator provides instant results with just a few clicks. All you need to do is enter the loan amount and tenure to obtain an instant estimate of your potential EMIs. This not only saves time and effort but also allows borrowers to assess multiple loan scenarios and enter multiple tenures or loan amounts to make an informed borrowing decision.

3.  Accuracy

Another benefit of using IndusInd Bank’s EMI calculator is its accuracy. Unlike manual calculations that are prone to errors or discrepancies, the online calculator provides accurate, error-free results. This enables borrowers to get a clear understanding of their potential EMIs and assess loan affordability.

4.  Effective Loan Comparison

With its ability to generate instant and accurate results, IndusInd Bank’s car loan EMI calculator can help borrowers calculate the EMIs for various loan options. This helps them effectively compare new car loan plans from different lenders and identify the most cost-effective and suitable one.

5.   Easy Accessibility

You can easily access IndusInd Bank’s car loan EMI calculator online anywhere, anytime, and on any device. This allows you to calculate your potential new car loan EMIs at your convenience from your home, office, or on the go. This accessibility ensures borrowers can obtain instant results without visiting a physical branch or relying on a customer service executive.

Make Informed Borrowing Decisions with IndusInd Bank’s Car Loan EMI Calculator

IndusInd Bank’s car loan EMI calculator offers an assortment of benefits including efficient financial planning, quick calculation, accuracy, effective loan comparison, and easy accessibility. With this nifty tool, borrowers can get a better understanding of their potential repayment obligations and evaluate their options effectively.

If you are ready to bring your dream car home, use the IndusInd Bank EMI calculator and apply for a new car loan online today!

Disclaimer: The information provided in this article is generic and for informational purposes only. It is not a substitute for specific advice in your circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for making any financial decisions based on the contents and information. 

Summary: When purchasing a pre-owned bike on EMI with a two-wheeler loan, it is crucial to verify loan eligibility and gather necessary documentation. Consider loan flexibility, compare down payments, and evaluate additional charges. IndusInd Bank offers competitive interest rates, flexible terms, and minimal documentation for a smooth two-wheeler loan application process.

When considering a two-wheeler purchase, buyers often compare a new vehicle versus a pre-owned one. While a pre-owned bike will cost less than a brand-new one, it is still a substantial purchase. Luckily, a two-wheeler loan offers an attractive funding option if you do not have enough savings or are unwilling to deplete your funds,.

When securing a pre-owned bike  loan, it’s essential to approach the transaction with thorough preparation and knowledge. Buying a pre-owned bike offers significant cost savings compared to purchasing a new model, but it also involves careful scrutiny in order to ensure a sound investment.

This article provides you with a detailed overview of what to consider before committing to a pre-owned bike loan so you can navigate the process smoothly.

1. Loan Eligibility

Before applying for a two-wheeler loan, it’s important to check your eligibility. Common criteria include your monthly income, CIBIL score, and overall financial stability.

IndusInd Bank offers a simple eligibility criteria for two-wheeler loans:

·        Salaried Applicants: Must have a minimum gross salary of INR 10,000 per month and be between 21 and 60 years old.

• Self-Employed Individuals: Must be between the ages of 21 and 65 years and should have at least three years of stable business experience.
• Employment Stability: Salaried applicants need to have a stable current job, while self-employed applicants must provide their Income Tax Returns (ITR) of the past two years/proof of their business.

2. Loan Documentation

Documentation is vital to applying for a two-wheeler loan, as it enables your lender to verify your identity and financial status. IndusInd Bank streamlines this process with minimal documentation requirements and offers the added convenience of doorstep documentation. This means your loan application is handled efficiently and with minimal hassle.

3. Loan Flexibility

At IndusInd Bank, you can apply for a two-wheeler loan with flexible repayment tenures starting from 12 to 36 months for standard two-wheelers and up to 60 months for high-end bikes. Keep in mind that the exact tenure options may vary with different lenders. Since the duration of your loan directly impacts your EMI amount, selecting a tenure that aligns with your financial comfort is crucial.

4. Down Payment

When buying a pre-owned bike via EMIs, make sure to handle the down payment wisely. Make a down payment that fits your budget, ensuring your financial stability remains intact throughout the process.

5. Additional Charges

Apart from the interest rate on two-wheeler loans, consider additional charges such as processing fees, administrative charges, prepayment charges, late payment fees, etc. Evaluating these charges when comparing lenders ensures you find a cost-effective loan. IndusInd Bank provides a transparent application process with no hidden fees, enabling you to make a well-informed decision.

Apply for a Two-Wheeler Loan with IndusInd Bank

To ensure a smooth EMI payment schedule for your pre-owned bike, it is crucial to verify your loan eligibility, gather all required documents, and explore flexible loan repayment options. Additionally, comparing down payment requirements among lenders and reviewing any additional charges associated with your bike loan online and offline will help in effective preparation.

IndusInd Bank offers two-wheeler loans with competitive interest rates, flexible repayment terms, and streamlined processing. Simply visit our website and complete the online application form with your details. Apply for a two-wheeler loan with IndusInd Bank and ride away on your new bike today. To learn more about applying for a bike loan online or offline, visit the IndusInd Bank website.

Disclaimer: The information provided in this article is generic and for informational purposes only. It is not a substitute for specific advice in your circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for making any financial decisions based on the contents and information. 

Summary – Car loans are financial products designed to help you purchase your dream car. However, before applying for one, it’s essential to determine the monthly instalments you can pay without undue stress. IndusInd Bank’s car loan EMI calculator makes this process easy and efficient. Simply enter the loan amount, interest rate, and tenure, then click ‘Calculate Now.’ The calculator will instantly provide the monthly EMI, helping you plan your finances more effectively.

Owning a car is a dream for many. However, with the average selling price of passenger vehicles rising from INR 7.65 lakh in 2018-19 to INR 11.5 lakh in 2023-24, more and more consumers are turning to car loans to help finance their purchase.

A car loan allows you to buy a car with a small down payment and repay the remaining amount in EMIs. But how do you determine the best EMI that fits your budget? This is where a car loan EMI calculator comes in.

A car loan EMI calculator is an online tool that will help you determine the monthly instalments you need to make for your car loan.

How to Use a Car Loan EMI Calculator Online?

Follow these steps to use IndusInd Bank’s car loan interest rate EMI calculator:

1. Visit the Website

Go to IndusInd Bank’s official website and navigate to the car loan EMI calculatorpage.

2. Enter the Loan Amount and Interest Rate

Enter the car loan amount you wish to borrow and the interest rate offered by the bank. Ensure these figures are accurate to get a precise EMI calculation.

3. Choose the Tenure

Next, choose the desired loan tenure in months. Typically, a car loan’s tenure ranges from one to five years, but in some cases, it can be extended up to seven years.

4. Click on Calculate Now

Once all the required fields are filled, click on the ‘Calculate Now’ button.

The calculator will instantly provide you with the final monthly EMIs. It will also show you the total amount payable at the end of the tenure, along with a breakdown of the principal and interest amount.

What are the Benefits of Using a Car Loan EMI Calculator?

Using IndusInd Bank’s car loan EMI calculator helps you manage your budget by selecting a loan amount and tenure that fits your needs. Here’s how it can benefit you:

1. Financial Planning

A car loan EMI calculator shows you the monthly EMI based on the tenure, loan amount, and interest rate you enter. This will help you to select a repayment term that fits your budget, allowing you to comfortably repay the loan without burdening your finances.

2. Easy Comparisons

With a car loan EMI calculator, it becomes easy to compare different loan options by adjusting the given values. This comparison helps you choose the most suitable tenure and loan amount..

Saves Time and Effort

Calculating EMIs manually can be tedious, involving complex calculations and the results can be prone to errors. An online EMI calculator provides instant and accurate results, saving you time and effort.

Calculate Your EMIs Easily with IndusInd Bank’s Car Loan EMI Calculator

A car loan EMI calculator is an essential tool for anyone planning to take a car loan. It helps you understand the financial aspects of your loan by helping you estimate your monthly repayments, making it easier to plan and manage your budget.

IndusInd Bank’s car loan EMI calculator is user-friendly and provides quick, accurate results. Additionally, their car loan comes with attractive features such as financing up to 100% of the car’s value, flexible tenures of up to 60 months, and competitive interest rates.

Visit IndusInd Bank’s website and use the car loan EMI Calculator to make a financially sound borrowing decision.

Disclaimer: The information provided in this article is generic and for informational purposes only. It is not a substitute for specific advice in your circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for making any financial decisions based on the contents and information. 

Summary: IndusInd Bank’s two-wheeler loans make it easy to afford your dream bike in 2024. With a hassle-free application process, higher loan amounts, competitive interest rates, and flexible repayment terms, we make bike ownership easily accessible.

As per TechSci Research, the two-wheeler loan market in India is projected to surpass $12 billion by 2025, from roughly $6.7 billion in 2019. This substantial growth highlights the burgeoning preference for two-wheelers as a preferred mode of daily commuting, given their ability to navigate congested lanes and traffic with ease.

However, a two-wheeler, especially a high-end model, can come with a hefty price tag. Fortunately, two-wheeler loans are now easily accessible, which makes bike ownership more manageable. IndusInd Bank provides affordable two-wheeler loan options distinguished by their exceptional features and benefits.

In this blog post, we will explain how IndusInd Bank’s two-wheeler loans can make financing your dream bike easy in 2024.

About Two-Wheeler Loans

Two-wheeler loans have been designed to assist individuals in buying scooters, motorcycles, or other types of two-wheeler vehicles. These loans cover a significant portion of the vehicle’s cost, which the borrower repays over a predetermined period via EMIs (Equated Monthly Instalments) along with any applicable interest.

Why Opt for an IndusInd Bank Two-Wheeler Loan?

IndusInd Bank’s two-wheeler loans come with a range of benefits tailored to satisfy diverse customer needs. The table below elucidates some of the key benefits:

How to Apply for a Two-Wheeler Loan at IndusInd Bank

Applying for a two-wheeler loan with IndusInd Bank is simple. Follow these steps to get started:

1. Check Eligibility Criteria

For Salaried Individuals

• Applicants must have a minimum monthly salary of INR 10,000.
• Applicants must be between 21 and 60 years old at the time of loan application.
• Applicants should have a stable current employment.

For Self-employed Individuals

• Applicants must have a minimum of three years of stable business experience.
• Applicants must be between 21 and 65 years old at the time of loan application.
• Applicants must provide Income Tax Returns (ITR) for the last two years or proof of business.

2. Gather Documentation

Income Proof for Salaried Individuals

Self-attested photocopy of one of the following:

• Form 16
• Latest three months’ salary slips
• Bank statement
• Latest ITR
• Identity proof
• Residence proof

Income Proof for Self-employed Individuals

Self-attested photocopy of one of the following:

• Latest ITR
• Bank statement
• Identity proof
• Residence proof

For Applicants Without Income Proof

Self-attested photocopy of one of the following:

• Bank statement
• Business incorporation certificate or proof of business continuity for the last three years
• Proof of owned residence
• Repayment track record
• Identity proof

Income Proof for Agricultural Income

Self-attested photocopy of one of the following:

• Proof of agricultural land or Pattadar passbook
• Bank statement
• Proof of owned residence
• Repayment track record
• Identity proof

Obtaining a bike loan online from IndusInd Bank is an efficient way to finance your dream bike in 2024.

Apply now and hit the road with your new two-wheeler!

Disclaimer: The information provided in this article is generic and for informational purposes only. It is not a substitute for specific advice in your circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for making any financial decisions based on the contents and information.