HDFC Car Loan – Interest Rate -How to Apply

HDFC Car Loan: In this article, we will provide you information about HDFC Bank car loan. If your dream is to buy a car, then you can fulfill your dream by joining HDFC Bank car loan. Before taking a car loan, you should know what is a car loan?

Just as we take a bike loan to buy a bike, in the same way we take a car loan to buy a car. You can take this loan to buy any type of used or new car. In this article, we will know in detail what is HDFC Bank car loan, what is the interest rate, eligibility, documents of this loan and how can we apply for this loan etc., so you read this article till the end.

HDFC Bank Limited is an Indian banking and financial services company. It is one of the leading commercial banks in India and the most private bank in India by revenue. This bank provides many types of banking facilities such as; Saving account, current account, loan insurance, many such facilities are provided.

HDFC Car Loan Details

Car loan comes under the category of a secured loan. That is, to take this loan, you have to give some collateral or security. Before giving a car loan, the bank checks the customer’s CIBIL score. If your credit score is very good and you fulfill all the conditions of the bank, then you can take advantage of the loan with attractive Car Loan Interest Rate. You can apply for HDFC Bank Car Loan both online (online loan apply) and offline.

HDFC Bank offers various types of car loans as per the requirement of the customer. You can take this loan to buy any type of car, new or used. If you have an old car, then you can take a loan for a new car by mortgaging that car.

Key features :

• Loan Name: HDFC Bank Car Loan 2024
• Interest Rate: Starting from 7.95 percent
• Amount : Up to 100% of the cost of the car
• Loan Debt: Rs 3 crore
• 0.5% of loan amount, 3500 fee and game 8000 fee
• Loan tenure: 12 to 84
• Application Mode: Online / Offline
• Interest Rate :– From 10% p.a.
• Official website : https://www.hdfcbank.com/

HDFC Bank Car Loan Fees and Charges

• Documentation Fee: Rs.700/-
• Foreclosure Charges: Up to 6% of the outstanding principal
• Partial Payment Fee: Up to 5%
• Stamp Duty: On Actual
• Overdue EMI interest: 2% per month
• Processing Fee: 0.5% of the loan amount, with a minimum of Rs. 3500 and a maximum of Rs. 8000
• Cheque/ECS Swapping Fee: Rs.500
• Legal, Possession and Contingent Charges: On Actual
• Duplicate No Due Certificate / NOC: Rs 500
• Loan Rescheduling Fee / Rebooking Fee: Rs.1000 to Rs.5000
• LPG/CNG NOC/Other Special NOC: Rs.500
• CIBIL Fee: Rs.50
• Cheque/SI/ECSR Return Fee: Up to Rs.500
• Amortization Schedule Fee: Rs.200
• Commercial/Personal Use NOC: Rs 2250
• Collateral Charges: Rs.600
• RTO Transfer Fee: On Actual

HDFC Car Loan Interest Rate 2024

HDFC car loan interest rate starts from 7.95% p.a. The bank offers many types of car loans, all of which also have different interest rates. The applicant’s profile, credit score, loan amount, loan tenure, employment status etc. affect the interest rate of the car loan.

Before applying for any car loan of HDFC Bank, it is important for you to get proper information about the interest rate of that loan so that you do not have to face any kind of problem in future.

HDFC Car Loan Types

According to the need of the customer, the bank is providing various types of HDFC Bank Car Loan which are as follows:

• New Car Loan
• Loan Against Car
• Pre Owned Car Loan

Features of New Car Loan

• You can take advantage of this loan to buy a new car.
• The name of HDFC Bank’s new car loan is Xpress Car Loan.
• You can get a loan up to 100% of the value of the car.
• Both salaried and self-employed people can take advantage of this loan.
• ZipDrive-Instant New Car Loan facility for existing customers of the bank. Through this way you can get instant loan in very less time.
• You can get a loan up to a maximum of Rs 3 crore.
• Existing car loan customers can avail top-up loan without any documents.
• You can take advantage of this loan with a loan tenure of 12 to 84 months.
• Bank customers can get HDFC Car Loan in just 10 seconds without any documents.
• Accident insurance cover is provided to the beneficiary.

Features of Loan Against Car

• Under this loan, you can take a loan against your car.
• You can get an instant top-up of up to 150% of the value of your existing car loan.
• paperless process.
• Instant loan disbursement.
• Car appraisal is not required to get the loan.
• You can take this loan for a loan tenure of 12 to 84 months.
• You can take advantage of interest rates up to 2% lower than the interest rate of HDFC personal loan.
• You can apply online for this HDFC Bank Car Loan from anywhere anytime.
• Existing car loan customers who have a repayment record of 9 months can avail an Instant Car Loan.

Features of HDFC Pre Owned Car Loan

• You can easily get a loan to buy a used car.
• Loan benefits with hassle free processing, minimal documentation and instant disbursement.
• You can get a loan up to 100% of the value of the car.
• You can get a maximum loan of Rs 2.5 crore under HDFC Pre Owned Car Loan.
• The age of the car on which you are taking the loan should not be more than 10 years.
• The term loan tenure of this Pre Owned Car Loan ranges from 12 months to 84 months.
• If you are a HDFC Bank customer then you can get loan at low interest rate.
• After applying you can track the status of your application online.
• You can get a loan up to 85% of the cost of the car for 5 years without any income proof.

HDFC Car Loan Eligibility

Only those people who are eligible for it can apply for a car loan. As you have learned that the bank offers various types of car loans for which the eligibility is different. You can check eligibility here:

HDFC New car loan eligibility

Eligibility for Salaried Person:

• Employees of public sector undertakings including central, state and local bodies, employees of private limited companies are eligible for this loan.
• The minimum age of the applicant should be 21 years.
• The maximum age at the end of the loan tenure should be 60 years.
• Applicant should have minimum 1 year in current job with maximum 2 years experience.
• Your annual income should be at least 3 lakh rupees.

Eligibility for Self Employed Individual and Professional:

• Any self-employed person can apply for this loan.
• Applicant’s minimum age should be 21 years and maximum 65 years.
• Customer should be in business for at least 2 years.
• The annual income of the applicant should be at least 3 lakh rupees.

HDFC Loan Against Car Eligibility

Eligibility for Salaried Person:

• Doctors, CAs, employees of private limited companies, employees of public sector undertakings including central, state and local bodies, etc. can apply for this loan.
• Applicant’s age should be between 21 years to 65 years.
• You must have at least 1 year of employment with your current employer and a total of 2 years.
• The annual income of the applicant should be Rs 2.5 lakh or more.

Eligibility for Self Employed Person:

• Any self-employed person is eligible for this loan.
• The minimum age of the applicant is 31 years and maximum is 65 years.
• Applicant should be in business for at least 3 years.
• Your annual income should be at least 2.5 lakh rupees.
• The minimum turnover for a partnership firm should be Rs 4.5 lakh per annum.

HDFC Used Car Loan/Pre Owned Car Loan Eligibility

Eligibility for Salaried Person:

• Employees of private limited companies, doctors, CAs, employees of public sector undertakings including central, state and local bodies etc. are eligible for this loan.
• Should have been in the present job for more than 1 year and for at least 2 years.
• Your annual income should be Rs 2.5 lakh or more.
• Applicant age should be between 21 years to 60 years.

Eligibility for Self Employed Person:

• All self-employed individuals can take advantage of this loan.
• The minimum age of the applicant should be 25 years and maximum 65 years.
• You must have been in business for at least 3 years.
• The annual income of the applicant should be at least 2.5 lakh rupees.
• The minimum turnover for a partnership firm should be Rs 4.5 lakh.

Documents Need HDFC Car Loan

Before applying for a car loan, you should have the necessary documents with you now so that whenever the bank asks you for documents, you can show them all the documents immediately. The documents for different car loans can be different. You can get more information about the document by visiting your nearest bank branch. Following are the documents to apply for the loan:

HDFC New car loan Documents required

If you are taking a new car loan, the documents are as follows:

Documents for Salaried Individual and Self Employed Individual (Sole Proprietorship):

• Proof of Identity and Address:
  • Passport
  • driving license
  • voter id card
  • job card
  • Letter issued by National Population Register containing details of name and address.
  • Aadhar card
• Form 16 as latest salary slip and income proof
• Bank statement of last 6 months

Documents for Partnership Firms/Private Limited Companies/Public Limited Companies:

• Proof of income:
  • audited balance sheet
  • Profit and Loss Account for the last 2 years
  • Company ITR for last 2 years
• As proof of address:
  • telephone bill
  • electricity bill
  • Shop and Establishment Act Certificate
  • SSI Registered Certificate
  • sales tax certificate
• Bank statement of last 6 months

Documents required for HDFC Loan Against Car

The documents for Loan Against Car Loan are as follows:

Documents for Salaried Individual and Self Employed Person:

• Age Proof (Any one): Aadhar Card/Passport/PAN Card/Voter ID Card/Driving License/Photo Ration Card with Date of Birth/Employer Certificate/ID/School/College Leaving Certificate.
• Proof of Identity (any one): Aadhar Card / Passport / PAN Card / Voter ID Card / Driving License / Ration Card.
• Proof of Income: Latest Salary Slip, Latest Form 16/Latest ITR, HDFC Bank Corporate Salary Account details for last 3 months above Rs.80,000.
• Address Proof (Any one): Ration Card/Driving License/Passport/Telephone Bill/Electricity Bill/Credit Card Statement with Credit Card Copy/Employer Certificate/ID.
• Signature Verification Proof (Any one): Passport / Driving License / Credit Card Statement with Credit Card Copy / Banker’s Verification / Copy of Margin Money Paid to Bank / Repayment Track for Vehicles / Having Non-HDFC Bank Loan on Vehicle In case of foreclosure details.

Documents for partnership firm:

• Partnership deed as proof of age.
• Partnership deed as proof of identity.
• Latest ITR and Balance Sheet with Profit and Loss Account.
• Address Proof: Partnership Deed / Telephone Bill / Electricity Bill.
• Signature verification proof.

Documents for Private Limited Companies:

• Memorandum and Articles of Association/Certificate of Incorporation as proof of age.
• Memorandum and Articles of Association/Certificate of Incorporation as proof of identity.
• Latest ITR and Audited Balance Sheet along with Profit and Loss Account as proof of income.
• Proof of Address: Memorandum and Articles of Association/Certification of Incorporation/Telephone Bill/Electricity Bill.
• Signature verification proof.

Documents Requirement for HDFC Used Car Loan / Pre Owned Car Loan

If you are taking a loan to buy a used car, then you must have the following documents:

Salaried Individuals and Self Employed :

• Proof of Identity and Address (any one): Passport/Driving License/Voter ID Card/Job Card/Letter issued by National Population Register containing name and address details/Aadhaar Card.
• Proof of Income: Latest Salary Slip, Latest Form 16/Latest ITR, HDFC Bank Corporate Salary Account Details of last 3 Months above Rs.80,000.
• Signature Verification Proof (Any one): Copy of Passport/Driving License/Credit Card Statement with Credit Card copy/Banker’s Verification/Margin Money paid to Bank.

Read also:How to Get SBI Personal Loan

Documents for partnership firm:

• Partnership deed as proof of age.
• Partnership deed as proof of identity.
• Latest ITR/Previous ITR with Advertisement. Tax paid challan / latest IT assessment order as proof of income.
• Address Proof: Partnership Deed / Telephone Bill / Electricity Bill.
• Signature Verification Proof: Copy of Passport/Driving License/Credit Card Statement with Credit Card Copy/Banker’s Verification/Margin Money Paid to Bank.

Private Limited Companies/Public Limited Companies Documents:

• Memorandum and Articles of Association/Certificate of Incorporation as proof of age.
• Memorandum and Articles of Association/Certificate of Incorporation as proof of identity.
• Latest ITR and Audited Balance Sheet with Profit and Loss Account as proof of income
• Proof of Address: Memorandum and Articles of Association/Certification of Incorporation/Telephone Bill/Electricity Bill.
• Signature verification proof.

HDFC Car Loan Apply

If you fulfill all the conditions of HDFC car loan then you can apply for it both online and offline. Follow the steps given below to apply:

Apply online

To apply online, you have to first visit the official website of HDFC Bank,

• After visiting the website, select the car loan you want to avail.
• To apply, click on the option of Apply Online.

• After clicking, the form will open in front of you.
• You have to enter some required details and click on submit.
• After this the bank will contact you and the loan process will be issued further.

Offline application

• To apply offline, you have to visit your nearest HDFC Bank branch.
• Go to the bank and contact the bank employee.
• The bank officer will verify your documents.
• You have to fill a form and submit the documents to the bank.
• If your loan is approved then the loan amount is transferred to your bank account.

HDFC Car Loan EMI Calculator

Before applying for a car loan, you should calculate your loan EMI with the help of HDFC Car Loan EMI Calculator to get an idea of ​​the amount you will need to pay at the time of loan repayment. You can calculate the EMI of your loan with the help of Car loan EMI calculator by visiting the official website of the bank.

Car loan EMI depends on the loan amount, interest rate, loan tenure and processing fee. In the EMI calculator, you have to select the loan amount, interest rate and loan tenure, after that the EMI of the loan will come in front of you.

Read also: Axis Bank Car Loan

HDFC Car Loan Statement

You can check and download your HDFC car loan statement online. The loan statement contains all the information related to your loan such as loan amount, remaining EMI, interest rate, loan tenure, your loan status, repayment schedule, each of your payments etc. You can check it online and download your HDFC car loan statement online.

You can check this by logging in to HDFC Netbanking with the help of your username and password. As soon as you log in, the complete dashboard of your loan will open in front of you. Here you can check your loan statement. You can check your statement by sending a request with the help of your registered email id. Apart from this, you can also check the loan statement by visiting your nearest bank branch.

How to check HDFC Bank Car Loan Status?

If you have applied for HDFC Bank Car Loan then you can track your application status both online and offline. You can track the status of your application online by visiting the official website of the bank with the help of your username and password. Offline you can check the loan status by visiting your nearest bank branch. Apart from this, you can also check your loan status by calling HDFC car loan customer care number.

Follow the steps given below to check online status:

• First of all you have to visit the official website of HDFC Bank.
• After visiting the website, come to the option of application status.
• As soon as you click on this link a form will open in front of you.
• In this, you can check your status by entering your name, reference / proposal number or mobile number.

All Bank Personal Loan Interest Rate

HDFC bank car loan customer care number

You can call on HDFC Bank customer care number 1800-258-3838 (Toll free number). You can call on following numbers:

Ahmedabad :- 079-61606161
Bangalore :- 080-61606161
Chandigarh :- 0172-6160616
Chennai :- 044-61606161
Cochin :- 0484-6160616
Delhi & NCR :- 011-61606161
Hyderabad :- 040-61606161
Indore :- 0731-6160616
Jaipur :- 0141-6160616
Kolkata :- 033-61606161
Lucknow :- 0522-6160616
Mumbai :- 022-61606161
Pune :- 020-61606161

My Last World:

In this article, we have provided you complete information about HDFC Car Loan. If you have any other type of information regarding this loan, then you can get information by calling HDFC car loan customer care number. Anyone can take advantage of this loan to buy the car of their dreams.

Hope friends, you have found this article informative. If you liked the information given in this article, then please share it as much as possible.

Read also:all bank personal loan apply

HDFC Car Loan FAQs