HDFC Bank Car Loan
Hdfc Bank
Hdfc Bank Car Loan enables you to drive home your dream vehicle with easy financing. Whether you are buying a new car or a well-maintained pre-owned vehicle, this loan covers up to 90% of the on-road price. With interest rates starting at 8.75% p.a. and flexible repayment options up to 7 years, purchasing a car has never been more convenient. **Key Benefits:** This car loan offers attractive benefits: high loan-to-value ratio covering up to 90% of the on-road price, meaning a lower down payment. Flexible tenure options from 12 to 84 months let you customize your EMI. Both new and used cars are eligible for financing. Fast processing, especially for existing bank customers, gets you behind the wheel quickly. Insurance coverage can be bundled with the loan for added convenience. **How to Apply:** To be eligible for the Hdfc Bank Car Loan, you should be between 21 and 65 years with a minimum monthly income of 25,000. Both salaried and self-employed individuals can apply, though salaried employees get more competitive rates. Apply online by filling the loan application form with your car details, upload the required documents including PAN, Aadhaar, income proof, and car quotation from the dealer. The bank verifies your documents and credit profile before approving the loan. Upon approval, the loan amount is disbursed directly to the car dealer, and you start repaying EMIs from the following month. Processing takes 24-48 hours after approval for most applications. *Source: Hdfc Bank official website, updated May 2026.*
Key Facts
| Feature | Details |
|---|---|
| Interest Rate Type | Floating |
| Processing Fee | 1% |
| Prepayment Penalty | 2% of outstanding + GST (for closed loan within 12 months)% |
Features & Benefits
Pros & Cons
- Instant approval for high credit scores
- Huge dealer network
- Competitive rates
- Flexible tenure
- Processing fee 1%
- Young cars (7+ years) not financed
- Commercial vehicle restriction
How to Apply
Review the eligibility criteria below and use the loan eligibility calculator to estimate your eligible amount.
Click "Apply Now", fill in your personal and financial details, and upload the required documents.
The lender reviews your application and documents. Upon approval, the loan amount is disbursed to your account.