HDFC Car Loan

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Buy your dream Car

Rates as low as 7.35%*
Up to 100% Funding
Doorstep Service
Hassle-free Disbursal
Unbiased Experts Advice

HDFC Car Loan Key Features

HDFC Car Loan Interest Rate 7.35%* per annum
Min Loan Amount ₹ 100,000
Max Loan Amount
(Loan to Value)
Loan up to 90% of On Road Price
or 100% of Ex-showroom Price
Loan Tenure 1 year to 7 years
Lowest EMI / Lac ₹ 1,622
Minimum Net Monthly Income ₹ 20,000
Minimum ITR for Self Employed ₹ 2,00,000
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

6% (7-12 months)

Basic Documentation Address Proof, Bank Statement, Car Quotation and ID Proof

About HDFC Car Loans

An Indian Bank and Financial Institution with more than 1 lakh 5 thousand employees across the nation, HDFC bank is India’s largest private sector bank by assets headquartered in the beautiful city of Mumbai. Incorporated in 1994, HDFC Bank merged with Times bank in 2000.

HDFC Bank deals with a long chain of products such as treasury, auto loans, two-wheeler loan, credit cards etc.

HDFC Bank provides the customers with Car Loans also for helping them by their dream car at very fantastic interest rates. Individuals with slightly low CIBIL Score can also avail this loan quickly.

Advantages of HDFC Car Loans

HDFC car Loans

HDFC Car Loans Eligibility

Salaried Individual
  • Age – 21 years to 60 years
  • Net Monthly Income – Minimum ₹ 20,000
  • Employment Duration – 1-year minimum
  • Income Eligibility – Based on Form 16 and salary slip
Self-Employed Individuals
  • Age – 21-65 years of age
  • Minimum ITR  – Rs.2 lakh
  • Employment Duration – Minimum 3 years
  • Income Eligibility – Depends on the latest Income Tax Returns
Self-Employed Non-Individuals (Company/Partnership)
  • Minimum ITR  – Rs. 2 lakh
  • Employment Duration – 3 years minimum
  • The applicant has to present IT returns and audited financials of 2 years with Calculated Income.
Priority Customers
  • At least 6-month vintage
  • Average Quarterly Balance – 2 quarters balance at a minimum of Rs.1 lakh
  • Maximum Loan Amount –  3 times the Average Quarterly Balance of the last 2 Quarters 

HDFC Car Loans Interest Rate, Fees and Charges

Charges New Car Loan Used Car Loan
Interest Rate 7.35% 14.80% p.a. to 16.80% p.a.
Processing fee 0.40% 0.40%
Issuance of Duplicate Repayment Schedule Charges Around Rs.500 Around Rs.500
Foreclosure Charges 6% 6%
Penal Interest 2% PM 2% PM
Part Payment charges 6% of the amount 6% of the amount
Cheque/Instrument Swap Charge Around Rs.500 Around Rs.500
Documentation Charge Around Rs. 500  Around Rs. 500 
Issuance of Duplicate No Dues Certificate Charges Around Rs. 500  Around Rs. 500 
Registration Certification Collection Charge Around Rs. 200 Around Rs. 200
Cheque Bounce/Instrument Return Charges Around Rs. 500  Around Rs. 500 
Issuance of Duplicate Statement Charges Around Rs. 500  Around Rs. 500 
Loan Cancellation/Re-booking Charges Around Rs. 1000 Around Rs. 1000
Issuance of Credit Report Around Rs. 50 Around Rs. 50

HDFC Car Loans Documents Required

Salaried Individual

Category Documents Required
Identity Proof

 

 

(Any 1)

Passport
Voter ID
Aadhar Card
Driving License

Address Proof

 

 

(Any 1)

Aadhar Card
PAN
Driving License
Electricity Bill

Date of Birth Proof

 

 

(Any 1)

Passport
Birth Certificate
High School Marksheet
Driving Licence
Signature Proof

 

 

(Any 1)

PAN
Bankers Verification
Passport
Income Proof Salary Slip and latest Form No.16
Bank Statement Last 6 month Bank statement
Employment Continuity Proof Job card by NREGA
ITR of Form no. 16
Salary Slip mentioned with joining date
Letter of Appointment

Self-Employed Individuals

Category Documents Required
Identity Proof (Any 1) PAN Card
Passport
Voter ID
Aadhar Card
Address Proof (Any 1) PAN Card
Voter ID
Passport
Electricity Bill
Date of Birth Proof (Any 1) Birth Certificate
Passport
Driving Licence
PAN
Signature Proof (Any 1) Bankers Verification
PAN
Income Proof Salary Slip
Bank Statement Bank statement of last 6 months
Employment Continuity Proof Latest ITRs
Shop & Establishment Act Certificate
Shop & Establishment Act Certificate
Sales Tax or VAT Certificate
Business Proof Registration Certificate
Telephone Bill/Electricity Bill
Shop & Establishment Act Certificate
SSI or MSME Registration Certificate

Self-Employed Non-Individuals:

1. Partnership Firms/Societies

Category Documents Required
Identity Proof (Any 1) Driving Licence
PAN Card
Aadhar Card
Passport
Address Proof (Any 1) Electricity Bill/Telephone Bill
Aadhar Card
Driving License
Voter ID
Income Proof Audited Balance Sheet
P&L Account
ITR for the previous 2 years
Bank Statement Last 6 month
Business Continuity Proof Company ITR of the last 2 years
Audited Balance Sheet
TAX registration Certificate
Current Account Statement
Additional documents Letter of Authority or PAN Card

2. Private Limited/Limited Companies

Category Documents Required
Identity Proof The latest copy of MOA and AOA
Copy of Incorporation
Address Proof (Any 1) SSI/MSME Registration Certificate
Telephone Bill
Electricity Bill
Shop & Establishment Act Certificate
Sales Tax Certificate
Income Proof Audited Balance Sheet
P&L Account and ITR for the previous 2 years
Bank Statement Previous 6 Months
Business Continuity Proof P&L account and
ITR of the Company of the past 2 years
Audited Balance Sheet
Shop & Establishment Act Certificate
Additional documents
List of Shareholding partners and Directors
Board Resolution
PAN Card
Certificate of Commencement of Business for Ltd. Co.

HDFC Car Loans EMI Calculator

The applicant can calculate its EMI on the Car Loan before even availing it by following the address below:

Car Loan EMI Calculator

HDFC Car Loans Types

There’s a long list of Car Loan Products provided by HDFC Bank. Choose among them according to your desires. Lit of Car Loan provided by HDFC Bank:
Axis 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 offers the following types of Car Loans:

  1. New Car Loan –  Applicants looking to buy a new car can go for this. You can get a car loan for a minimum amount of Rs. 1 lakh and tenure up to 7 years.
  2. Used Car Loan – Individual wanting to buy used cars can avail Used Car loan with a minimum amount of Rs. 1 Lakh and tenure of 5 years.
  3. Loan Against Car – Applicants with the urgency of funds can go for this loan by providing their car as a gage and getting loan amount against it. 

HDFC Car Loans Pre Calculated EMI

How to Apply for HDFC Car Loans?

  1. Reach out Dialabank at http://www.dialabank.com and provide the information asked on the form.
  2. Our Relationship Manager will contact you shortly to guide you through the process.
  3. Compare and select from various options available.
  4. Applying for Car Loan with Dialabank helps you avail the various offer.

HDFC Car Loans for Top Selling Cars

Other Available Products from HDFC Bank

HDFC Two Wheeler Loan HDFC LAP HDFC Education Loan
HDFC Gold Loan HDFC Home Loan HDFC Business Loan

FAQs for HDFC Car Loans

✅ What is HDFC Car Loans?

HDFC Car Loans is financial support provided by the bank to its customers to buy their dream car.

✅ How can I get Car Loan from HDFC Bank?

Apply with Dialabank to get HDFC Car Loans in the most reliable manner.

✅ How does HDFC Car Loans work?

HDFC provides car loan by securing the new car bought as collateral against the loan. Apply for Car Loan with the necessary documents and park a new car in your parking while repaying the loan amount in easy EMIs. However, A minimal Rate of Interest is charged against the loan.

✅ What is the Car Loan Interest Rate in HDFC?

HDFC charges Car Loan Interest Rates starting from 7.35% per annum. Interest Rate is the cost of borrowing money, expressed as a percentage of the loan amount.

✅ How to Check Car Loan status in HDFC?

Go to HDFC Bank official web handle and provide the important details regarding your loan and get the status of the same in seconds. You can contact the nearest branch also for knowing the status of your Car Loan.

✅ How to Calculate Car Loan Interest in HDFC?

Use Dialabank EMI Calculator to calculate Interest Rate as well as EMI. Follow the link below to direct yourself to the calculator:
Dialabank Calculator

✅ What is the maximum loan amount I can avail on Car Loan from HDFC Bank?

You can avail Loan up to 100% of the vehicle’s Ex-Showroom price.

✅ What is the loan tenure of HDFC Bank Car Loan?

Loan tenure of HDFC Car Loan is 1 Year to 7 Years in case of New Car and 1 Year to 5 Years in case of Used Cars.

✅ Can I get 100% Car Loan from HDFC Bank?

Yes, you can get 100% Car Loan from HDFC Bank on the Ex-Showroom price of the vehicle.

✅ How much Processing Fee is applicable on HDFC Car Loan?

HDFC Car Loan charges 0.40% of Principal Amount as the Processing Fee which can go up to a  maximum amount of Rs.10,000.

✅ What are the EMI options available on HDFC Bank car loan?

HDFC Provides two EMI options Step-up EMI and Balloon EMI.

✅ What are the charges for Prepayment in HDFC Car Loan?

HDFC imposes 6% of Foreclosure charges for the prepayment of the loan/paying off the loan before the tenure ends.

✅ Can I get a top-up loan on my existing HDFC Bank car loan?

HDFC provides Zero paperwork Top-up instantly against existing Car Loan on a fixed reducing Rate of Interests.

✅ Do I need to provide a guarantor to avail a car loan from HDFC Bank?

A big NO, HDFC doesn’t ask for any guarantor to avail Car Loan.

✅ How to get HDFC Car Loans Statement?

Get your HDFC Car Loan statement by following the mentioned steps:
1. Go on to HDFC Bank official website.
2. Login to “Loan Status” with your login credentials and get the statement.
OR
You can directly visit the nearest branch for your Loan Statement.

✅ How to Pay HDFC Bank Car Loans Interest Online?

Pay you HDFC Car Loans Interest directly through HDFC Bank’s website and by providing your Loan Account Number and pay using Net Banking or Debit/Credit Cards. You can also use Paytm for paying your HDFC car Loan Interest.

✅ What if I can’t pay the interest on HDFC Car Loans for 3 months?

HDFC charges 24% of the outstanding 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 HDFC Car Loans?

You can apply for EMI Moratorium on HDFC Car Loans directly from HDFC website’s Loan corner.

✅ What is the number for HDFC Car Loan agent?

Call Dialabank at 9878981166 as it is one of the most trusted HDFC Car Loan agents. Dialabank even ensures the best offers on your Car Loan.

✅ Can I close HDFC car loan online?

HDFC car Loan can be closed by visiting the nearest branch and clearing off the outstanding amount.

✅ What is HDFC Car Loan Customer Care Number?

Call 9878981166 and clear any of your queries with us anytime.

✅ How can I get NOC from HDFC Bank for Car loan?

You can get NOC directly from the branch for HDFC Car Loans.

 

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