HDFC Banks is one of the best choices for car loans. You can get a great deal here with easy and convenient process.

Advantages with HDFC

Covers the widest range of cars and multi-utility vehicles in India.

• Available up to 100% finance on your favorite new cars.
• Flexible repayment options, ranging from 12 to 84 months.
• Borrow up to 3 times your annual salary (for salaried professionals) and 6 times your annual income (for self employed professionals).
• Speedy processing - within 48 hours.
•  Repay with easy EMIs.
• Attractive car loan plans
•  Attractive Interest rates
• Hassle-free documentation.
• If you are an HDFC Bank account holder, then you can get special rates.
• If you have had a Preferred Account or a Corporate Salary Account with HDFC Bank for more than six months, you can get fast approvals on your loans with minimal documentation.
• If you are an existing HDFC Bank Car Loan customer with a clear repayment of 12 months or more we can Top-Up your car loan to the extent of the original loan value.

Get Finance For

HDFC Bank finances most passenger cars and multi-utility vehicles manufactured by India's leading automobile companies like Maruti-800, Omni, Zen, WagonR, Esteem, Baleno, Tata Indica, Indigo, Tata Spacio, Honda City, Hyundai Santro, Getz and Accent, Ford Ikon, Toyota Corolla, Skoda Octavia, Mahindra etc.

Loan Amount:

For New Cars: You can borrow up to 90% of the invoice value and the minimum loan amount is Rs.50000.
For Used Cars: You can borrow up to 80% of the invoice value.

Eligibility

For Salaried Individuals:  

• Minimum age of Applicant: 21 years
• Maximum age of Applicant at loan maturity: 58 years
• Minimum employment: 1 year in current employment and minimum 2 years of employment
• Minimum Annual Income: Rs 100000 net annual income
• Telephone: Must at residence

For Self Employed:

• Minimum age of Applicant: 21 years
• Maximum age of Applicant at loan maturity: 65 years
• Minimum employment: At least 3 years in business
• Minimum Annual Income: Net profit Rs. 60000 p.a for standard cars and Rs.100000 p.a. for mid-sized and premium cars
• Telephone: Must at residence

For Partnership Firm:

• Minimum Income: Net profit Rs. 60000 p.a for standard cars and Rs.100000 p.a. for mid-sized and premium cars.
• Minimum turnover: Turnover Rs. 4.5 lacs
• Telephone: One phone at least at business and at residence of the loan executing partner

For Private Limited Company:

• Minimum Income: Net profit Rs. 60000 p.a for standard cars and Rs.100000 p a for mid-sized and premium cars
• Minimum turnover: Turnover Rs 4.5 lacs
• Telephone: One phone at least at business premises

For Public Limited Company:

• Minimum Income: Net profit Rs. 60000 p.a for standard cars and Rs.100000 p a for mid-sized and premium cars.
• Minimum turnover: Turnover Rs 4.5 lacs
• Telephone: One phone at least at business premises

Documents Required

For Salaried Individuals:

• Proof of Identity - Passport copy, PAN Card, Voters Id car, driving license.
• Income Proof - Latest salary slip with form 16.
• Address Proof - Ration card/Driving license/Voters card/passport copy/telephone bill/ electricity bill/Life insurance policy PAN Card.
• Bank Statement - Not mandatory

For Self Employed:

• Proof of Identity - Passport copy, PAN Card, Voters Id car, driving license.
• Income Proof - Latest ITR
• Address Proof - Ration card/Driving license/Voters card/passport copy/telephone bill/ electricity bill/Life insurance policy PAN Card
• Bank Statement - Waived for small cars, for mid - sized and premium cars if income Is greater than Rs. 1.5 lacs then bank statement requirement can be waived.

For Partnership Firms:

• Proof of Identity - NA
• Income Proof - Audited balance sheet, Profit & Loss Account for latest two years and the latest 2 years IT returns of the company
• Address Proof - Telephone Bill/Electricity Bill/Shop & Establishment Act certificate/SSI registered certificate/Sales Tax certificate
• Bank Statement - Waived for small cars, for mid - sized and premium cars if income Is greater than Rs 1.5 lacs then bank statement requirement can be waived

For Private Limited Company:

• Proof of Identity - NA
• Income Proof - Audited balance sheet, Profit & Loss Account for latest two years and the latest 2 years IT returns of the company
• Address Proof - Telephone Bill/Electricity Bill/Shop & Establishment Act certificate/SSI registered certificate/Sales Tax certificate
• Bank Statement - NA

For Public Limited Company:

• Proof of Identity - NA
• Income Proof - Audited balance sheet, Profit & Loss Account for latest two years
• Address Proof - Telephone Bill/Electricity Bill/Shop & Establishment Act certificate/SSI registered certificate/Sales Tax certificate
• Bank Statement - NA

Service Fee

For New Car 

For Used Car 

• 2% of loan amount or Rs.5000/-, whichever is lower.
• Car-n-cash / Balance Transfer - 2% of Loan amount or Rs.4000/-, whichever is lower

Other Fee

For New Car 

For Used Car