Best HDFC Bank Car Loan

HDFC Bank Car Loan

HDFC Bank Car Laon
Why to avail a New Car Loan from HDFC Bank ?

HDFC Bank offers numerous offers for car loans that can be altered according to your needs. The comprehensive range of product offering and a robust disbursal process keeps HDFC as frontrunner for car loans.

Following three-fold benefits can be enjoyed by availing a new car loan from HDFC bank.
  • Hassle free and quick disbursal – HDFC bank offer ease of documentation, quick sanction and hassle-free disbursal car loan at your doorstep.


  • Attractive Interest Rates – HDFC bank Provides car loan with highly competitive interest rates and processing charges.


  • Customer-Friendly Policies – loan process is completely transparent and there are no hidden charges. HDFC bank provides the complete assistance at each stage of the process and continuous updates for your loan application status.
Following exclusive features and benefits are there with HDFC Bank New Car Loan:
  • Financing available up to 100% for your favorite car. **


  • Avail loans for the widest range of cars and multi-utility vehicles in India.


  • Easy and flexible loan repayment tenures – starting from 12 months up to 84 months


  • Avail a car loan of up to 6 times your yearly income.


  • Check Car Loan eligibility in a minute and get 30 minutes approval of Car loan.


  • Easy, convenient and Pocket-friendly EMI repayment options.


  • Choosing the plan that is right for you for fast tracking of your loan.


  • Reasonable affordable interest rates.


  • Hassle free and customer-friendly documentation process.


  • Special and unique schemes for existing HDFC bank customers.


  • Easy loans up to Rs. 1.5 Cr.


Eligibility criteria & documents required for HDFC Bank New Car Loans

First Check the category in which you fit. Our requirements to give you a loan will be different as it depends on the kind of work you do.

(A) If you are a salaried employee-

This category includes-

  • Salaried doctors


  • CAs


  • Employees of select public and private limited company


  • Government sector employees such as public sector undertakings and central, state and local bodies.


If your Age is:

Minimum 21 years (at time of loan application) and not more than 60 years (at the end of the loan tenure)

If you have total work experience:

At least 2 years

If you have work experience with current employer:

Minimum of 1 year with your current employer

If you earn:

At least an income of Rs. 1, 80,000 annually, includes the income of your spouse/Co-applicant.

Documents you will need to submit:

As a Proof of Identity: (any one of following)

  • Passport copy

  • PAN Card

  • Voters Id card

  • driving license( Laminated, Recent, Legible)

As Income Proof: Latest salary slips with form 16.

As Address Proof: (any one of following)

  • Ration card

  • Driving license

  • Voters card

  • Passport copy

  • Telephone bill

  • electricity bill

  • Life insurance policy.

Bank Statement: Last 6 months

(B) If you are self employed individual (Sole Proprietorship)-

The self-employed sole proprietors who are in the business of manufacturing, trading or services comes in this category.

If your Age is:

Minimum 21 years (at time of loan application) and not more than 65 years (at the end of the loan tenure)

If you are in business:

For at least 2 years

If your Income:
  • Minimum of Rs 60,000 per annum if for case of standard car


  • Minimum of Rs. 1, 00,000 per annum for mid-sized and premium cars.


You should Have a telephone at residence / Post Paid mobile connection

Following documents will be required:

Proof of Identity (any one):

  • Passport copy

  • PAN Card

  • Voters Id card

  • driving license( Laminated, Recent, Legible)

Income Proof: Latest ITR

Address Proof (any one):
  • Ration card

  • Driving license

  • Voters card

  • passport copy

  • Telephone bill

  • Electricity bill

  • Life insurance policy Card

Bank Statement: Last 6 months

(C)If you are self employed (Partnership Firms):

This category covers self-employed partners in the business of manufacturing, trading or services.

Who:

Having minimum income of Rs. 60,000 per annum (in case of buying a standard car) and at least Rs. 1, 50,000 lakh/annum for car loan (in case of buying mid-sized and premium cars)

Having a minimum turnover of Rs. 4, 50,000 per annum

Having a landline at office and residence.

Documents you will need to submit:

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: Last 6 months

If you are self employed (Private Limited Companies/ public limited companies):

This category covers corporate in the business of manufacturing, trading or services.

Having minimum income of Rs. 60,000 per annum (in case of buying a standard car) and at least Rs. 1, 50,000 lakh/annum for car loan (in case of buying mid-sized and premium cars)

Having a minimum turnover of Rs. 4, 50,000 per annum

Having a landline at office.

Documents you will need to submit:
  • 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: Last 6 months

The different car segments and funding range are as follows:

Segment Ex-Showroom Value
(In lakhs)
Funding % Examples
A: Mini <=2.15 80-100 Maruti 800
B: Compact 2.2-4.5 90-100 Alto, Swift, Indica, Santro, Getz, Estillo,
A-Star, Palio, i10, Indigo
C: Mid-Size 4.5-10.0 75-100 i20, Accent, Swift ,Dzire, Honda City, Honda Jazz,
Verna, SX4, Linea, Ikon, Fusion, Optra, Fabia, Ritz
D: Executive 9.5-16.0 75-95 Toyota Corolla, Civic, Skoda Ocatvia, Hyundai Elantra,
Optra Magnum
D+: Premium 16.0-25.0 75-90 Honda Accord, Camry, Hyundai Sonata, Superb, Passat,
Jetta, Teana, Fiat 500
B: Compact 2.2-4.5 90-100 Alto, Swift, Indica, Santro, Getz, Estillo, A-Star, Palio,
i10, Indigo
D+: Luxury 25.0+ 75-85 Mercedes, BMW, Audi, Porsche and all other imported
MUV 2.20+ 75-90 Omni, Innova, Xylo, Scorpio, Tavera, Bolero, Victa, Safari
SUV 14.0+ 75-85 CR-V, Endeavour, Pajero, Montero, X-Trail, Prado, Tucson,
Captiva, Grand Vitara,
      Mitsubishi Outlander

Funding range is indicative. Pre-approved customers could get up to 100% ex-showroom funding in segments A-D.

You are appling for this Bank.

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