HDFC BANK CAR LON

HDFC BANK CAR LOAN

Dreaming of having your own car? Planning for financing a car or not? Then why not go for HDFC Bank Car Loan at lowest interest rates. Find out the best Car Loan in India at lowest interest rates which will fulfill your dream of buying your own car.

Apply for an HDFC Bank car loan and make use of its doorstep service facility.

Why Car Loan from HDFC?

Apply online for Car Loan to meet your dream car at your doorstep. HDFC Bank Car Loan; is what will make your dreams come true.  The car loan from HDFC Bank comes with the best interest rates starting from 9.75% to 10.60%.

  • 1. View the exact total cost and EMI of your Car Loan offer
  • 2. Special discounted interest rate only through online
  • 3. No guarantor required
  • 4. Highest eligibility of up to 100% car finance on a wide range of models

Fees and Charges

The mentioned below are the fees and charges applicable that are levied by HDFC Bank are as follow:
TYPES OF FEESCHARGES APPLICABLE
Interest Rate9.75% – 10.60%
Loan Processing Charges0.4% of Loan Amount or Rs.10000, whichever is lower
Foreclosure Charges3% to 6% depending on loan tenure (no foreclosure for loans disbursed <6 months ago)
Repayment7 Years
Documentation FeesRs. 600 each time
Guarantor RequiredNo
Guarantor RequiredPreclosure permitted after 6 months. 6% of principal outstanding (plus GST) from 7 to 12 months. 5% (plus GST) in 2nd year. No preclosure charges thereafter.
Penalty for late payment2% each month
Financing Quantumup to 100% depending on customer profile

Advantages of HDFC Car Loan

HDFC Bank offers numerous advantages and offers which excite customers to choose it for availing Auto Car Loan.

  • 1. Lowest Interest Rates – Interest rates ranging from 9.75% – 10.60%
  • 2. Fast Loan Disbursal – The entire loaning process with HDFC is hassle free, transparent and quick. Loan disbursal in just 2 short working days.
  • 3. Customer-Friendly Service – HDFC treats you as a potential/existing customer via its competent customer support initiatives.
  • 4. Lowest EMI Option – One of the lowest EMI options in the Indian context.
  • 5. Flexible repayment option – Relaxed repayment tenure stretching upto 7 years.

Eligibility Criteria for applying for HDFC Car loan

Car loan application can be approved online only once you complete the required eligibility. Below mentioned are the prerequisites you need to meet for availing the Auto Car loan:

Salaried Employee-
  • 1. Minimum age of 21 years (at inception) and maximum of 60 years (at end of loan tenure).
  • 2. Is employed for a minimum of 2 years, with 1 year at the current employer.
  • 3. Annual income of Rs.1, 80,000 (this can include the income of the co-applicant).
  • 4. Has a fixed landline number or a post-paid mobile number.
Self Employed-
  • 1. Minimum age of 21 years (at inception) and maximum of 65 years (at end of loan tenure).
  • 2. Must be in business for at least 2 years.
  • 3. Annual income of Rs.60, 000 (standard car) or Rs.1, 00,000 (mid-sized and premium cars).
  • 4. Have a fixed landline number or a post-paid mobile number.
Self Employed (Partnership firms)
  • 1. Annual income of Rs.60, 000 (standard car) or Rs.1, 50,000 (mid-sized and premium cars).
  • 2. Minimum annual turnover of Rs.4, 50,000.
  • 3. Have a fixed landline number at office or residence.
Self Employed (Private Limited Companies)
  • 1. Annual income of Rs.60,000 (standard car) or Rs.1,50,000 (mid-sized and premium cars)
  • 2. Minimum annual turnover of Rs.4,50,000
  • 3. Have a fixed landline number at office.
Self Employed (Public Limited Companies)-
  • 1. Annual income of Rs.60,000 (standard car) or Rs.1,50,000 (mid-sized and premium cars)
  • 2. Minimum annual turnover of Rs.4,50,000
  • 3. Have a fixed landline number at office.

Documents required for applying for a Car Loan from HDFC

Before applying for a Car loan online check out the essential documents required:

Self-Employed
  • 1. Identity and Address Proof documents of the applicant
  • 2. Income Proof: Latest Income Tax Return
  • 3. Address Proof: Ration card, Driving license, PAN Card, Voter ID card, passport, Life insurance policy, telephone/electricity bill, etc.
  • 4. Last 6 months Bank Statement
  • 5. Loan Application Form
  • 6. 2 Passport sized-photographs
Firms/Companies
  • 1. Loan Application Form
  • 2. Passport Sized-Photographs
  • 3. Proof of Income: Audited balance sheet, latest 2 years Profit & Loss Account and the company’s latest 2 years IT returns
  • 4. Proof of Address: Ration card, Driving license, Aadhar Card, PAN Card, Voter ID card, passport, Life insurance policy, telephone bill, and electricity bill.
  • 5. Last 6 months Bank Statement

Procedure for applying for HDFC Bank Car Loan Online

One can apply online for Car loan through our website with few simple steps by registering online:

  • 1. Enter the required details including your employment type, name, e-mail address, city you are currently living in, type of business, annual income, required loan amount, and mobile number.
  • 2. Provide your consent.
  • 3. Choose HDFC Bank as your Car Loan partner.
  • 4. Fill in the form by providing some basic details like your gender, marital status, PAN Number, and others and click proceed.

Know more about HDFC Car Loans – FAQs

Q. What are the common documents that will be required when applying for the Car Loan?

A. Below mentioned are the common documents:

    • Identity Proof- Passport, PAN card, Voter’s ID, Driving License.
    • Address Proof- Ration Card, Driving License, Voter’s ID, Passport, Telephone Bill, Electricity Bill, PAN Card, and Sales Tax Certificate.
    • Bank Statements- Usually, last 6 months.
    • Income Proof- Latest ITR, Salary Slips, Form 16, Audited Balance Sheet, Profit & Loss Account for latest two years and the latest 2 years IT returns of the company.
Q. I have an account with HDFC Bank. Will I get any extra benefits when I apply for car loan offered by HDFC Bank?

A. Yes, HDFC Bank account holders avail extra benefits such as special interest rates on the car loans offered by the bank. If you have a corporate salary account or a preferred account with the bank for over 6 months, your car loan will be quickly approved. If you already have a HDFC Bank Car Loan and have cleared the amount for up to 12 months and more, then you will receive a Top – Up on your loan.

Q. What is the maximum tenure of HDFC Bank car loan?

A. You can repay your HDFC Bank car loan in a flexible period of 7 years.

Q. How much car loan I can borrow from HDFC Bank?

A. HDFC Bank offers you 100% of ex-showroom price of car as loan.

Q. How much processing fee is charged by HDFC Bank on car loan?k?

A. HDFC Bank charges a processing fee of 0.40% of loan amount Max. Rs. 10,000 with applicable service tax.

Q. Are there any prepayment charges on HDFC car loan?

A. You can take car loan from HDFC Bank with prepayment not allowed for 6 months; 6% fee from 7-12 months, 5% from 13-24 months, and 3% after 24 months.

Q. How much processing fee is charged by Axis Bank on car loan?

A. Axis Bank charges a processing fee of Min. Rs. 3,500 and Max. Rs. 5,500 with applicable service tax.

Q. Are there any prepayment charges on Axis Bank car loan?

A. You can take car loan from Axis Bank with prepayment 5% of outstanding principal.

Q. Can I add my spouse’s income while applying for car loan from Axis Bank?

A. You can combine your income with the income of your spouse to increase your loan eligibility and to get higher loan amount.

QUICK OVERVIEW
Apply online at interest rate starting @ 9.25% p.a.
Free doorstep documents pick-up service
Quick approval and disbursal rate
Competitive and transparent process
Flexible repayment options