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HDFC Car Loan, Interest Rates and EMI Calculator Online May 2019

(Updated on 07.05.2019) HDFC Car Loan EMI Calculator May 2019 – Loansninsurances.com provides a simple tool to calculate Car Loan EMI on the basis of ✓ Interest Rate ✓ Loan Tenure ✓ Processing Fee & more.

HDFC Bank Car Loan – Quick, Easy & Instant Approval Online

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HDFC Bank Car Loan

HDFC Bank Car Loan is regarded as one of the most versatile and well-rounded car loan options in India to turn your dream car into reality. HDFC Bank Car Loan is loaded with features that are sure to impress you while applying for the loan. HDFC bank car loan is popular for its hassle free loan approval, uncomplicated documentation, flexible loan tenure and personalized loan processing system. HDFC bank provides car loan for purchasing New Car and also for purchasing Old Car. HDFC bank also offer Loan Against Car to certain customers who have the capacity to repay the loan. HDFC bank car loan is popular for its instant loan approval and longer loan tenure.

Also Check Other Products from HDFC Bank

  1. HDFC Home Loan
  2. HDFC Personal Loan
  3. HDFC Loan Against Property

HDFC Bank Car Loan Features & Benefits

HDFC Bank New Car Loan offers the exclusive features and benefits:

  • 100% finance on HDFC bank Car loan. (offers only on specific models)

  • HDFC offers car loan for the widest range of cars and multi-utility vehicles in India.

  • Flexible loan repayment tenures on every car loan you avail.

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

  • Car loan approval in 30 minutes

  • Flexible EMI repayment options. Lowest EMIs ever offered by the bank.

  • Market competitive interest rates.

  • Swift and customer-friendly documentation process.

  • Special car loan schemes for existing HDFC bank customers.

  • HDFC car loan can be availed up to a maximum amount of ₹1.5.crores.

HDFC Bank Car Loan Interest Rates

Interest Rates

9.30% to 12.50%

Processing Fee

0.4% of Loan Amount or Rs.10000

Loan Tenure

12 months to 84 months

Loan Amount

Maximum loan amount up to 1.5 crore

HDFC Bank Car Loan EMI Calculator

HDFC Bank Car Loan EMI Calculator

Fill Loan Amount, Interest rate & Tenure in Fields & get Instant Calculation for Car loan EMI within seconds.
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Flat Interest Rate PM
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HDFC Bank Car Loan Eligibility

For salaried Individuals:

  • HDFC car loan for salaried doctors, CAs, employees of select public and private limited companies, government sector employees such as public sector undertakings and central, state and local bodies.

  • Minimum age for Salaried is 21 years and the maximum age should be 60 yrs at the end of the loan tenure.

  • The applicant should be in job for at least 2 years, and a minimum of 1 year with the current employer.

  • Applicant should have an income of Rs. 1,80,000 annually, including the income of your spouse/Co-applicant.

For self-employed Individuals

  • HDFC car loan for proprietors in the business of manufacturing, trading or services.

  • Self-Employed applicant should be 21 years at the time of loan application) and should be 65 years at the end of the loan tenure.

  • The applicant should be in Business for at least 2 years.

  • Applicant should have monthly income of at least Rs. 60,000 per annum in order to buy a standard car and should have at least Rs. 1,00,000 per annum monthly income for mid-sized and premium cars.

For self employed (Partnership Firms)

  • The minimum income should be at least Rs. 60,000 per annum if you are looking to buy a standard car and at least Rs. 1,50,000 lakh/annum for car loan

  • The minimum turnover of Rs. 4,50,000 per annum is required for HDFC bank car loan.

  • Loan solely for self-employed partners in the business of manufacturing, trading or services.

For self employed (Private Limited Companies)

  • HDFC car loan solely for owner of a private company in the business of manufacturing, trading or services.

  • You should earn at Rs. 60,000 per annum to buy a standard car and at least Rs. 1,50,000 per annum for mid-sized and premium cars.

  • You should have a minimum turnover of Rs. 4,50,000 per annum.

For self employed (Public Limited Companies)

  • If you are a director in a public limited company in the business of manufacturing, trading or service then you can avail this loan.

  • Your minimum income should be Rs. 60,000 per annum to buy a standard car and should be at least Rs. 1,50,000 per annum for mid-sized and premium cars

  • You should have a minimum turnover of Rs. 4,50,000 per annum.

HDFC Bank Car Loan Documents Required

  • Proof of Identity: Passport copy, PAN Card, Voters Id card, driving licence( Laminated, Recent, Legible).

  • Income Proof: Latest salary slip with form 16.

  • Address Proof:Ration card/Driving licence/Voters card/passport copy/telephone bill/ electricity bill/Life insurance policy PAN Card.

  • Bank Statement:Last 6 months.

HDFC Bank Car Loan Prepayment

Foreclosure Charges

  • HDFC bank does not allow foreclosure within 6 months from date of availing the car loan.

  • 6% of Principal Outstanding for pre closures within 1 year from 7th EMI.

  • 5% of Principal Outstanding for pre closures within 13-24 months from 1st EMI.

  • 3% of Principal Outstanding for pre closures post 24 months from 1st EMI.

Part-Payment charges

  • Part-payment is allowed subject to completion of 12 months (i.e., Post payment of 12 EMIs)

  • Part payment will be allowed twice only during loan tenure. Part payment is allowed only once a year. At any point of time, part payment will not increase beyond 25% of Principal Outstanding.

  • 5% on the part payment amount if part-payment is done within 13-24 months from 1st EMI.

  • 3% on the part payment amount in case part prepayment is post 24 months from 1st EMI.

HDFC Bank Car Loan FAQs

1) Is it possible to Pre-pay the whole HDFC bank car loan amount?

You can pre-pay the loan any time after 6 months of availing of the loan. You need to pay a small pre-payment fee on the outstanding loan amount.

2) Do I need to provide a guarantor for availing HDFC Bank Car loan?

No, you don’t need a guarantor to avail a car loan from HDFC bank but, if your income does not meet the credit criteria then you may be required to provide a Guarantor or a co-applicant.

3) What is the maximum amount that HDFC Bank New Car Loans offer?

You can borrow up to 3 times your annual salary if you are a salaried professional and 6 times your annual income if you are a self-employed professional.

4) What are the loan tenure options available for HDFC bank car loan?

The loan repayment options ranges from 12 to 84 months all specially designed to suit your requirements.

5) What is the security for HDFC bank car loan?

Hypothetication of the car will be considered as security.

6) For which types of car HDFC bank car loan can be availed?

HDFC bank car loan can be availed for passenger cars and multi-utility vehicles manufactured by India’s leading automobile companies.

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