HDFC BANK USED CAR LOAN

HDFC BANK USED CAR LOAN

Want to have your own car, but facing cash crunch? Looking for a car in your set budget? Then why not go for HDFC Bank Used Car Loan at lowest interest rates. Find out the best Used Car Loan in Delhi at lowest interest rates.

Why Used Car Loan from HDFC?

Apply online for Used Car Loan from HDFC Bank in India to get loan at best and competitive interest rates. The Used Car Loan from HDFC Bank includes easy documentation and funding of up to 100% of the used car‘s on-road price.

1.Simple & minimal documentation

2.Fast loan approval

3.Quick disbursal

4.Free Doorstep service

5.Fixed interest rates

6.No hidden charges

7.Simple & transparent process

8.Customer-service support

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 Rate12.75% to 15.50%
Processing FeesUp to Rs.5,310
Repayment1 – 7 years
Guarantor RequirementNo
Pre-Closure ChargesPreclosure permitted after 18 months. No preclosure charges thereafter.
Overdue EMI Interest2% per month
Cheque/ECS swapping chargesRs. 500/- per instance
LPG/CNG NOC/Other Special NOCRs. 500/- per instance
Amortization Schedule ChargesCustomer can download the schedule from E-Delight free of cost
Rs. 200/- per schedule would be charged at the customer service desk
Amortization Schedule ChargesRs. 2,250/- per NOC
CIBIL Charges (only on request)Rs. 50/-
Car Valuation /Asset Verification Charges*Rs. 500 per case

Advantages of HDFC Used Car Loan

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

1. Flexible Repayment Options

2. High Loan Amount up to Rs.2.5 crore on a wide range of used cars

3. Zero Foreclosure Charges

4. Exclusive Insurance Benefits

5. Easy documentation

6. Funding of up to 100% of the used car’s on-road price

7. Customer Centric approach

8. Nominal down payment

Eligibility Criteria for applying for HDFC Used Car loan

Used Car Loan Application can be instantly approved if you are eligible and complete the required eligibility. Below mentioned are the prerequisites you need to meet for availing the Used Auto Car loan:

Salaried Employees

1. Minimum age of applicant must be 21 years and maximum must not exceed 60 years at the time of maturity.

2. Must have a minimum of 2 years work experience, with a minimum of 1 year with the current employer.

3. Annual income must not be lesser than Rs.1, 00,000.

4. Applicant must have a landline telephone connection at his/her residence.

5. This includes doctors, CAs, employees of private limited companies, employees from public sector undertakings, including central, state and local bodies

Self-Employed Individuals (Sole Proprietorship)

1. Minimum age of applicant must be 21 years and maximum must not exceed 60 years at the time of maturity.

2. Must have a minimum of 3 years of experience in the current business establishment.

3. Annual income must not be lesser than Rs.60, 000.

4. Applicant must have a landline telephone connection at his/her residence.

5. This includes self-employed sole proprietors in the business of manufacturing, trading or services

Self-Employed (Partnership Firms)

1. This includes self-employed partners in the business of manufacturing, trading or services

2. Annual income must not be lesser than Rs.60,000

3. Annual business turnover of Rs.4,50,000

4. Applicant must have a landline telephone connection at his/her residence. A post-paid mobile number that is at least three months old is also acceptable in specific cases.

Self-Employed (Private Limited & Public Limited Companies)

1. This includes individuals who own a private company in the business of manufacturing, trading or services

2. Should earn at least Rs. 2,50,000 per annum

3. Applicant must have a landline telephone connection at his/her office.

Self-Employed Individuals (Hindu Undivided Family – HUF)

1. This includes self-employed individuals in a business that falls under HUF

2. Annual income must not be lesser than Rs.60,000

3. Applicant must have a landline telephone connection at his/her residence. A post-paid mobile number that is at least three months old is also acceptable in specific cases.

4. The Karta should be the co-applicant in his individual capacity

Documents required for applying for a Used Car Loan from HDFC

    1. Proof of Age
      • 1. PAN Card, Voter’s ID, Passport, Driving license, Photo ration card with DOB, Employer certificate/ID, School or College leaving certificate.
      • 2. For proprietorship or partnership firms- Partnership deed, Memorandum and Articles of Association / Certificate of incorporation.
    2. Proof of Identity
      • 1. PAN Card, Voter’s ID, Passport, Driving license, Photo ration card with DOB.
      • 2. For proprietorship or partnership firms- Partnership deed, Memorandum and Articles of Association / Certificate of incorporation.
    3. Proof of Income
      • 1. Latest salary slips, Form 16/recent ITR, Previous ITR with advance tax payment Challans, Latest IT assessment order, HDFC bank corporate salary account statements for salary credits of over Rs.8000 for 3 months.
      • 2. For proprietorship or partnership firms- Latest ITR and latest audited Balance Sheet along with Profit and Loss Account.
    4. Proof of Residence
      • 1. Passport, Driving license, Photo ration card with DOB, Telephone and Electricity bills, Credit Card statements, Employer certificate/ID.
      • 2. For proprietorship or partnership firms- Telephone and Electricity bills, Partnership deed, Memorandum and Articles of Association / Certificate of incorporation.
    5. Proof of Signature
      • 1. Passport, Driving license, Credit Card statements with copy of Credit Card, Banker’s verification, Copy of margin money paid to the bank.
      • 2. Same documents apply for proprietorship or partnership firms too.

Procedure for applying for HDFC Bank Used Car Loan Online

One can apply online for Used 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 Bank Car Loans – FAQs

Q. Why choose HDFC Bank for pre-owned car loan?

A. The following reasons suffice as the strongest arguments in favor of the HDFC used car loan-

  • Loan applications are evaluated and approved in record time.
  • The applicable HDFC used car loan interest rates are very attractive.
  • Transparent and completely customer centric loan application and disbursement process.
Q. Who can avail the HDFC used car loan?

A. The mentioned categories can easily apply for Used Car Loan

  • Salaried individuals in the age group of 21 to 60 years.
  • Self-employed individuals in the age group of 21 to 65 years.
  • Partnership Firms
  • Public & Private Ltd. Companies
  • HUFs and Trusts
Q. What is the maximum amount I can borrow with an HDFC Bank Pre-owned Car Loans?

A. You can get an additional loan on your existing HDFC Bank Auto loan if you have a clear repayment track record of 12 months or more, till the extent of your existing loan amount at an attractive rate of interest.

Q. Which cars can be financed for Pre-owned Car Loans?

A. We finance most of passenger cars manufactured by India’s leading automobile companies. Popular brands include Maruti-800, Omni, Zen, WagonR, Tata Indica, Indigo, Honda City, Hyundai Santro, Ford Ikon, Toyota Corolla, Skoda Octavia, etc.

Q. How much used car loan will likely be granted to me?

A. Usually, the loans on offer fund upto 80% of the used car’s on-road price.

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