ING VYSYA Bank Car Loan Key Features – 2021
| Interest Rate | 7.35% per annum |
| Min Loan Amount | ₹ 100,000 |
| Max Loan Amount (Loan to Value) |
Loan up to 85% of On Road Price or 100% of Ex-showroom Price |
| Loan Tenure | 1 year to 7 years |
| Lowest EMI / Lac | ₹ 1,544 |
| Minimum Net Monthly Income | ₹ 20000 |
| Minimum ITR for Self Employed | ₹ 300,000 |
| Age Criteria | Salaried: 21 years to 60 years Self Employed: 21 years to 65 years |
| Types of Cars | For All New Passenger Cars, Multi Utility Vehicles (MUVs), and Sport Utility Vehicle (SUVs). |
| Processing Fee | 0.40% of the principal amount |
| Foreclosure Charges | Nil |
| Basic Documentation | ID Proof, Address Proof, Salary Slip, Bank Statement, and Car Quotation |
About ING VYSYA Bank Car Loan
ING VYSYA Bank, formerly United Commercial Bank, established in 1943 in Kolkata, is India’s central government-owned commercial bank. The Bank’s Regional presence includes 3,078 branches and 2564 ATMs. The Near Future will see growth in the number of ATMs and Branches.
UCO Bank provides Car Loans at attractive rates of interest to the consumer for buying their dream car, whether new or second hand. It is a readily available loan that anyone can procure, even those who have a slightly low credit/CIBIL score.
Advantages of ING VYSYA Bank Car Loan
ING VYSYA Bank Car Loan Eligibility
| Salaried Individual |
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| Self-Employed Individuals |
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| Self-Employed Non-Individuals (Company/Partnership) |
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| Priority Customers |
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ING VYSYA Bank Car Loan Interest Rate, Fees, and Charges
| Charges | New Car Loan | Used Car Loan |
| Interest Rate | 7.35% per annum |
14.80% p.a. to 16.80% p.a. |
| Processing fee | 0.40% of the principal amount | 1% of the loan amount or Rs.6,000, whichever is lower |
| Issuance of Duplicate Repayment Schedule Charges | Rs.500 per instance | Rs.500 per instance |
| Foreclosure Charges | nil | nil |
| Penal Interest | 2% per month | 2% per month |
| Part Payment charges | 5% of the paid amount | 5% of the paid amount |
| Cheque/Instrument Swap Charge | Rs.500 per instance | Rs.500 per instance |
| Documentation Charge | Rs.500 per instance | Rs.500 per instance |
| Issuance of Duplicate No Dues Certificate Charges | Rs.500 per instance | Rs.500 per instance |
| Registration Certification Collection Charge | Rs.200 per instance | Rs.200 per instance |
| Cheque Bounce/Instrument Return Charges | Rs.500 per instance | Rs.500 per instance |
| Issuance of Duplicate Statement Charges | Rs.500 per instance | Rs.500 per instance |
| Loan Cancellation/Re-booking Charges | Rs.2,500 per instance | Rs.2,500 per instance |
| Issuance of Credit Report | Rs.50 per instance | Rs.50 per instance |
ING VYSYA Bank Car Loan Documents Required
Salaried Individual
| Category | Documents Required |
| Identity Proof(Any 1) | Driving Licence Aadhaar Card Passport PAN Voter ID |
| Address Proof(Any 1) | Driving Licence Aadhaar Card Passport PAN Voter ID |
| Date of Birth Proof(Any 1) | Birth Certificate Passport Driving Licence PAN |
| Signature Proof(Any 1) | Passport Bankers Verification PAN |
| Income Proof | Latest Form 16 and Salary Slips |
| Bank Statement | Bank statement of last 3 months |
| Employment Continuity Proof | Work Experience Certificate ITR of Form 16 Salary Slip with Joining Date Appointment Letter Letter of Relieving |
Self-Employed Individuals
| Category | Documents Required |
| Identity Proof (Any 1) | Driving Licence Aadhaar Card Passport PAN Voter ID |
| Address Proof (Any 1) | Driving Licence Aadhaar Card Passport PAN Voter ID |
| Date of Birth Proof (Any 1) | Birth Certificate Passport Driving Licence PAN |
| Signature Proof (Any 1) | Passport Bankers Verification PAN |
| Income Proof | Latest Form 16 and Salary Slips |
| Bank Statement | Bank statement of last 3 months |
| Employment Continuity Proof | Shop & Establishment Act Certificate Current Account Statement SSI or MSME Registration Certificate Sales Tax or VAT Certificate |
| Business Proof | Current Account Statement Telephone Bill Electricity Bill Shop & Establishment Act Certificate SSI or MSME Registration Certificate Sales Tax or VAT Certificate Registered Lease Document with other utility bills |
Self-Employed Non-Individuals:
1. Partnership Firms/Societies
| Category | Documents Required |
| Identity Proof (Any 1) | Driving Licence Aadhaar Card Passport PAN Voter ID |
| Address Proof (Any 1) | Driving Licence Aadhaar Card Passport PAN Voter ID |
| Income Proof | Audited Balance Sheet P&L Account and ITR for the previous 2 years |
| Bank Statement | Bank statement of last 3 months |
| Business Continuity Proof | Shop & Establishment Act Certificate Current Account Statement SSI or MSME Registration Certificate Sales Tax or VAT Certificate |
| Additional documents | Authority Letter/PAN cards |
2. Private Limited/Limited Companies
| Category | Documents Required |
| Identity Proof | Copy of Latest MOA Copy of Incorporation Copy of Latest AOA |
| Address Proof (Any 1) |
Current Account Statement
Telephone Bill Electricity Bill Shop & Establishment Act Certificate SSI or MSME Registration Certificate Sales Tax or VAT Certificate Registered Lease Document with other utility bills |
| Income Proof | Audited Balance Sheet P&L Account and ITR for the previous 2 years |
| Bank Statement | Bank statement of last 3 months |
| Business Continuity Proof | Shop & Establishment Act Certificate Current Account Statement SSI or MSME Registration Certificate Sales Tax or VAT Certificate |
| Additional documents |
List of Directors and Shareholding Partners
PAN Card Board Resolution Certificate of Commencement of Business for Ltd. Co. |
ING VYSYA Bank Car Loan EMI Calculator
The applicant has the option to know the EMI’s before availing of a Car Loan. Thus, you can quickly check through the link below:
ING VYSYA Bank Car Loan Types
ING VYSYA Bank offers different types of car loans to its customers. You have the option of choosing the offer which suits your need the best. It provides the following types of Car Loans:
- New Car Loan – Those who wish to buy a new car are the scheme for you. You can take ING VYSYA Bank Car Loan for a minimum of Rs. 1 lakh and a minimum tenure of 7 years.
- Used Car Loan – If you wish to buy a used car, you can choose this scheme that offers a minimum loan of Rs. 1 lakh and a minimum tenure of 5 years.
- Loan Against Car – You can opt for this scheme if you need urgent funds to keep your cars as collateral with the bank to get Rs. 10 lakh or up to 50% of your car’s value.
How to Apply for ING VYSYA Bank Car Loan?
- Visit Dialabank and fill a form.
- Wait for a call from our Relationship Manager, who will guide you throughout the process.
- You can compare different offers from banks and choose the one which suits your needs.
- Thus, quickly apply for a Car Loan through Dialabank and enjoy the best offers.
Other Available Products from ING VYSYA Bank
| ING VYSYA Bank Personal Loan | ING VYSYA Bank Gold Loan | ING VYSYA Bank Home Loan |
| ING VYSYA Bank Credit Card | ING VYSYA Bank Two Wheeler Loan | ING VYSYA Bank Education Loan |
FAQs for ING VYSYA Bank Car Loan
✅ What is the ING VYSYA Bank Car Loan?
ING VYSYA Bank car loan is the loan sum provided to its customers for a new or used car.
✅ How can I get a Car Loan from the ING VYSYA Bank?
- Visit Dialabank and fill a form.
- Wait for a call from our Relationship Manager, who will guide you throughout the process.
- You can compare different offers from banks and choose the one which suits your needs.
- Thus, quickly apply for a Car Loan through Dialabank and enjoy the best offers.
✅ How does ING VYSYA Bank Car Loan work?
When you apply for a car loan, you will get a call from our representative, and then there will be a document verification process. Then, the loan amount will be credited to your account.
✅ What is the Car Loan Interest Rate in ING VYSYA Bank?
The interest rate on a car loan in the ING VYSYA Bank is
7.35% per annum
.✅ How to Check Car Loan status in ING VYSYA Bank?
You can track your car loan status online on the Car loan status website.
✅ How to Calculate Car Loan Interest in ING VYSYA Bank?
✅ What is the maximum loan amount I can avail of on a Car Loan from the ING VYSYA Bank?
The maximum loan amount you can avail of on a car loan is 85% of the On Road Price.
✅ What is the loan tenure of ING VYSYA Bank Car Loan?
The loan tenure of the ING VYSYA Bank Car Loan is a maximum of 7 years.
✅ Can I get a 100% Car Loan from the ING VYSYA Bank?
Yes, you can get a 100% Ex-showroom Price car loan from the ING VYSYA Bank.
✅ How much Processing Fee applies to the ING VYSYA Bank Car Loan?
ING VYSYA Bank charges a processing fee of 0.40% of the principal amount.
✅ What are the EMI options available on the ING VYSYA Bank Car Loan?
ING VYSYA Bank Provides two EMI options Step-up EMI and Balloon EMI.
✅ What are the charges for Prepayment in ING VYSYA Bank Car Loan?
You can prepay/foreclose your ING VYSYA Car Loan with No foreclosure charges.
✅ Can I get a top-up loan on my existing ING VYSYA Bank car loan?
You can get a top-up loan on your current car loan from ING VYSYA for up to 150% of its value.
✅ Do I need to provide a guarantor to avail myself of a car loan from the ING VYSYA Bank?
Generally, you don’t need a guarantor for a car loan. However, you may need a guarantor if you don’t fulfil the eligibility criteria.
✅ How to get the ING VYSYA Bank Car Loan Statement?
Get the statement in person by visiting your branch and requesting a piece of detailed information.
or
You can get the statement online. To do this, you should have ING VYSYA internet banking activated.
✅ How to Pay ING VYSYA Bank Car Loan Interest Online?
Log on to online ING VYSYA payment to ‘see and pay’ your bills. You also get an electronic acknowledgement for every invoice paid by you using e-PAY. You can also pay through Paytm.
✅ What if I can’t pay the interest on ING VYSYA Bank Car Loan for 3 months?
ING VYSYA imposes 24% of the exceptional amount or a Fee ranging from Rs.500 to Rs.5000 for not paying the EMI for 3 months.
✅ How can I apply for EMI Moratorium on ING VYSYA Bank Car Loan?
You can apply for EMI Moratorium on ING VYSYA Car Loans directly from the UCO Bank website’s Loan corner.
✅ What is the number for the ING VYSYA Bank Car Loan agent?
Call Dialabank at 9878981166 as it is one of the most trusted ING VYSYA Car Loan agents. Dialabank even ensures the best offers on your Car Loan.
✅ Can I close the ING VYSYA Bank car loan online?
ING VYSYA car loans can be closed by visiting the nearest branch and clearing off the outstanding amount.
✅ What is the ING VYSYA Bank Car Loan Customer Care Number?
Call 9878981166 and clear any of your queries with us anytime.
✅ How can I get NOC from the ING VYSYA Bank for a Car loan?
You can get NOC directly from the branch for ING VYSYA Car Loans.
✅ What is the ING VYSYA Bank Car Loan closure procedure?
- Just go to the bank with the documents.
- Write a letter for pre-closure of the ING VYSYA Bank Car Loan account.
- Pay the pre-closure charges as per ING VYSYA Bank Car Loan.
✅ What is the ING VYSYA Bank Car Loan preclosure charges?
ING VYSYA Bank Car Loan preclosure charges are 2% of the principal outstanding.
✅ What is the ING VYSYA Bank Car Loan maximum tenure?
The ING VYSYA Bank Car Loan maximum tenure is 7 years.
✅ What is the ING VYSYA Bank Car Loan minimum tenure?
The ING VYSYA Car Loan minimum tenure is 1 year.
