Bank auctions let you buy property, vehicles and other assets from banks, often below market price. Here is how bank auctions work in India, from finding a listing to receiving the sale certificate.
1. Search
Find auctions by location, bank, category or budget on eBankAuctions.com. Shortlist listings and save them with the heart icon.
2. View details and read the sale notice
Open the listing and read the official sale notice: reserve price, EMD, inspection dates, EMD deadline, auction date and the authorised officer’s contact.
3. Follow the guidelines and do your due diligence
- Inspect the asset on the inspection dates.
- Verify title documents, encumbrance certificate and statutory dues.
- Check the possession status (physical or symbolic).
- Arrange funds or loan approval in advance.
4. Register and pay EMD
Register on the bank’s e-auction portal, complete KYC and pay the EMD before the deadline.
5. Participate in the e-auction
Log in on the auction date and bid online. Bids start at the reserve price and increase in fixed increments.
6. Pay the balance and receive the sale certificate
The successful bidder pays 25% of the bid (including EMD) immediately or by the next working day, and the balance usually within 15 days. The bank then issues the sale certificate, which you register with the sub-registrar.