HDFC Car Loan Rate, Eligibility Calculator, Apply Online

HDFC Bank Car Loan Offer Mar 2017

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Last Updated 27th Mar 2017
Features and Eligibility HDFC Bank New Car Loan Scheme HDFC Bank Used Car Loan Scheme
Interest Rates 9.25% Fixed Check Special Offer 12.25% Fixed
Maximum Loan Amount Eligibility 100.00% of ex-showroom price 80.00% of market value
Maximum Loan Tenure (years) 7 years 5 years
Lowest EMI per Rs. One Lakh Loan Amount (Rs.) Rs. 1,622 Rs. 2,088
Processing Fee 0.40% Max Rs. 10000 2.00% Min Rs. 5000
Prepayment Charges Not allowed for 6 months; 6% foreclosure fee from 7-12 months, 5% from 13-24 months, 3% after 24 months Not allowed for 6 months; 6% foreclosure fee from 7-12 months, 5% from 13-24 months, 3% after 24 months
Interest Calculation Monthly reducing balance Monthly reducing balance
Age (years) Between 21 years and 60 years Between 21 years and 65 years
Apply Car Loan Online @9.25%*
 Salaried   Self Employed - Professional   Self Employed - Business 





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Eligibility Condition for HDFC Bank Car Loan

HDFC Bank New Car Loan Scheme HDFC Bank Used Car Loan Scheme
Minimum Net Annual Income (Rs. lakh)
--Salaried 1.8 1.8
--Self employed professionals 0.6 1.0
--Self employed businessmen 0.6 1.5
  • Car loan EMI calculation varies from bank to bank depending upon the method of calculation.
  • The standard convention should be to use the EMI in arrears method on reducing balance basis – whereby you pay interest on the car loan amount outstanding on a reducing basis at or after the end of the month.
  • Simply key in the loan amount, rate of interest and car loan tenure here and check the EMI amount using the car loan EMI calculator here. In case the EMI amount displayed is different from the one advised to you by the agent, you must check the calculation basis with your car loan agent.

  • New Car Loan Schemes of All Banks

  • Used Car Loan Schemes of All Banks

Frequently Asked Questions on HDFC Car Loan

How much interest is charged by HDFC on car loan?

HDFC offers an interest of 9.25% on car loan.

What is the lowest EMI per lakh on HDFC car loan?

If you apply for a car loan from HDFC, your lowest EMI per lakh will be Rs. 1,622.

What is the maximum tenure of HDFC car loan?

You can repay your car loan from HDFC in a flexible period of maximum 7 years.

How much car loan I can borrow from HDFC?

HDFC offers you 100.00% of of ex-showroom price of car as loan.

How much processing fee is charged by HDFC on car loan?

HDFC charge a processing fee of 0.40% with applicable service tax.

Is age an eligibility factor to get car loan from HDFC?

Yes, age is an important eligibility factor to get HDFC car loan as you should be at least 21 years old at loan approval time and 60 years old at loan maturity time.

Are there any prepayment charges on HDFC car loan?

You can take car loan from HDFC with Not allowed for 6 months; 6% foreclosure fee from 7-12 months, 5% from 13-24 months, 3% after 24 months prepayment charges.

Can I add my spouse's income while applying for car loan from HDFC?

You can combine your income with the income of your spouse to increase your loan eligibility and to get higher loan amount.
HDFC Car Loan Calculator News - Mar 2017
25th Nov 16 HDFC Bank ties up with Suzuki motorcycles as financing partner
HDFC Bank has announced a partnership with Suzuki Motorcycles to offer up to 100 percent finance on purchase of Suzuki two wheelers. The offer is available to government employees and HDFC Bank account holders.
22nd Nov 16 HDFC, Axis and ICICI Banks collaborate with Honda cars for 100 percent vehicle loans
Honda cars announced its collaboration with HDFC, Axis and ICICI Banks to facilitate 100 percent funding of cars. ICICI will offer loans up to 100 percent of ex-showroom prices at 9.75 percent rate. HDFC will offer loans up to 100 percent of on road prices for all Honda cars except Honda CR-V and Axis Bank will offer loans up to 100 percent of on-road price for 8 years for all central government employees with salary of more than Rs. 25,000 per month.
*My Finance Care Advisors Pvt. Ltd., or https://www.myloancare.in is a bank neutral multi bank platform that helps borrowers and bank customers compare loans and deposits of all banks in India at one place. Information carried at this website is based on perusal of public sources and should not be construed as an offer or solicitation or invitation to borrow or lend. The Company does not assure as to the correctness of information carried at the website. Lenders/ banks/ other parties may contact us at info@myloancare.in to provide corrections or updates. We may act as and/ or be associated with channel partners of banks and other sellers of financial products.