Minimum Salary Salary Transfer Early Settlement Fees Maximum Term Flat Rate Reducing Rate
IBL Bank Car Loan IBL Bank Car Loan Minimum Salary: USD 0 Salary Transfer: Yes Early Settlement Fees: - Maximum Term: 5 Years Flat Rate: 3.5% Reducing Rate: 6.3%
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With My Car, you can own your dream car, whether new or used.

Features:
  • Repayment period spread out over 60 months
  • Loan approval within 24 hours
  • Benefit from the unique insurance coverage including a life insurance and a total or partial disability coverage, at a very competitive rate
  • Finance up to 85% of the car price, and the loan amount is unlimited
  • Maximum repayment period: 5 years
  • Special and competitive interest rate
  •  You benefit from the most competitive insurance features
 

Representative example:

If you borrow USD 10,000 over 3 years at a Representative APR of 4.6% fixed and an annual interest rate of 4.6% you would pay:

Payment per month – USD 297.50 | Total charge for credit – USD 710 | Total amount you repay – USD 10,710

Please note, the actual rate applied to your loan will depend on your circumstances.
** Calculator Definitions
Amount: The total amount of money borrowed, also referred to as the principal amount.
Rate (%): This is the annual interest flat rate on the product. This is not the APR, which is going to be calculated in this example.
Years: This is the original term or length of the product, stated in years.
Effective Monthly Payment: This is the effective monthly payment, which takes into consideration fees and other costs associated with this product. The effective monthly payment is the basis for the APR calculation.
Calculated Annual Percentage Rate (%): The calculated Annual Percentage Rate(APR) is determined using the annual interest rate on the product plus fees and other costs. The APR is useful when comparing two or more products with different interest rates and fee structures.
Representative Example Calculator