Apply for New Car Loan Online in HDFC Bank

Apply for car loans at HDFC Bank to get up to 100% financing for your car. Enjoy 30-minute approvals when you apply for car loans, and receive funds quickly. .

You can also use the Car Loan EMI calculator to know how much EMI you will have to pay for your Car Loan.

With our attractive interest rates and flexible loan tenure of up to seven years, car loans are now affordable and pocket-friendly.

New Car Loan Features

Enjoy a range of features and benefits on car loans.

The special features of our car loans include flexible repayment tenure and EMIs, along with 100% financing on select vehicles.

Get additional benefits on car loans, with quick disbursal of funds, and enjoy special rates on car loans if you are an existing HDFC Bank customer.

Flexible Repayment Tenure
Choose a loan tenure to your liking: just 12 months, or 84 months, with our pocket-friendly EMI repayment options.
Fulfil Your Every Need
Get up to 100% finance** on a wide range of cars and multi-utility vehicles.
Competitive Rates
Get an easy loan up to Rs. 3 Crores with ease, and enjoy our competitive rates of interest, with no hidden charges.
New Car Bazaar
Find out more details on which car will be best suited for you with our New Car Bazaar, where you can compare cars, research car details, and read car reviews. Visit now.
Quick Eligibility Check & Disbursal
Check your New Car Loan eligibility online or at select branches in just 60 seconds. Our documentation process is transparent, quick and easy, and loans can be approved in just 30 minutes!Loan processing and disbursement will take atleast 7 working days post submission of all requisite documents and information as may be required by Bank as per Bank's criteria.
Special Benefits for HDFC Bank Customers
Existing HDFC Bank customers can enjoy added benefits with unique schemes just for them.

New Car Loan Eligibility Criteria

The eligibility criteria for car loans are applicable for both salaried and self-employed individuals.

The following people are eligible to apply for a New Car Loan:

Salaried Individuals:
- This includes employees of private limited companies, employees from public sector undertakings, including central, state and local bodies
- Individuals who are a minimum of 21 years of age at the time of applying for the loan, and no older than 60 at the end of the loan tenure
- Individuals who have had a job for at least 2 years, with a minimum of 1 year with the current employer
- Those who earn a minimum of Rs. 2,50,000 per year, including the income of the spouse/co-applicant
- Individuals who have a telephone/post-paid mobile
Self Employed Individuals and Professionals (Sole Proprietorship):
- This includes self-employed sole proprietors in the business of manufacturing, trading or services
- Individuals who are a minimum of 21 years of age at the time of applying for the loan, and no older than 65 at the end of the loan tenure
- Those who have been in business for a minimum of 2 years
- Should earn at least Rs. 2,50,000 per annum
Self Employed Individuals and Professionals (Partnership Firms):
- This includes self-employed partners in the business of manufacturing, trading or services
- Those who have a minimum turnover of Rs. 2,50,000 per annum
Self Employed Individuals and Professionals (Private Limited Companies)
- This includes individuals who own a private company in the business of manufacturing, trading or services
- Should earn at least Rs. 2,50,000 per annum
Self Employed Individuals (Public Limited Companies):
- This includes directors in public limited companies that are in the business of manufacturing, trading or services
- Should earn at least Rs. 2,50,000 per annum

New Car Loan Documentation

Refer to the following list to know more about documents required for car loans.

Salaried Individuals:
- Any of the following identity proof documents:
  - Aadhar Card
  - Passport
  - PAN Card
  - Voters ID Card
  - Driving License (recent, legible, laminated)
- Latest salary slip and Form 16 as income proof
- Any of the following documents as address proof:
  - Aadhar Card
  - Ration Card
  - Driving License (recent, legible, laminated)
  - Voters ID Card
  - Passport Copy
  - Telephone Bill
  - Electricity Bill
  - Life Insurance Policy
- Bank statement of the previous 6 months
Self Employed Individuals (Sole Proprietorship):
- Any of the following identity proof documents:
  - Aadhar Card
  - Passport
  - PAN Card
  - Voters ID Card
  - Driving License (recent, legible, laminated)
- Latest Income Tax Returns (ITR) as income proof
- Any of the following documents as address proof:
  - Aadhar Card
  - Ration Card
  - Driving License (recent, legible, laminated)
  - Voters ID Card
  - Passport Copy
  - Telephone Bill
  - Electricity Bill
  - Life Insurance Policy
- Bank statement of the previous 6 months
Self Employed Individuals (Partnership Firms):
- All the following documents as income proof:
  - Audited Balance Sheet
  - Profit & Loss Account of the previous 2 years
  - Company ITR for the previous 2 years
- Any of the following documents as address proof:
  - Telephone Bill
  - Electricity Bill
  - Shop & Establishment Act Certificate
  - SSI Registered Certificate
  - Sales Tax Certificate
- Bank statement of the previous 6 months
Self Employed Individuals (Private Limited Companies)
- All the following documents as income proof:
  - Audited Balance Sheet
  - Profit & Loss Account of the previous 2 years
  - Company ITR for the previous 2 years
- Any of the following documents as address proof:
  - Telephone Bill
  - Electricity Bill
  - Shop & Establishment Act Certificate
  - SSI Registered Certificate
  - Sales Tax Certificate
- Bank statement of the previous 6 months
Self Employed Individuals (Public Limited Companies):
- All the following documents as income proof:
  - Audited Balance Sheet
  - Profit & Loss Account of the previous 2 years
- Any of the following documents as address proof:
  - Telephone Bill
  - Electricity Bill
  - Shop & Establishment Act Certificate
  - SSI Registered Certificate
  - Sales Tax Certificate
- Bank statement of the previous 6 months

New Car Loan Rates & Fees

HDFC Bank offers attractive interest rates on car loans.
Read below to know more about our car loan interest rates, along with car loan fees and charges.

Enclosed below are HDFC Bank New Car Loans Interest Rates & Charges

Description of charges	New Car Loans
Documentation Charges*	Rs. 600 per case
Foreclosure charges*	No foreclosure allowed within 6 months from date of availing the car loan
	6% of Principal Outstanding for preclosures within 1 year from 7th EMI
	5% of Principal Outstanding for preclosures within 13-24 months from 1st EMI
	3% of Principal Outstanding for preclosures 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 in case part prepayment is within 13-24 months from 1st EMI
	3% on the part payment amount in case part prepayment is post 24 months from 1st EMI

Stamp Duty (Non -refundable)	At actuals
Late Payment Penalty	2% per month
Processing fees^* (Non - refundable)	0.4% of Loan Amount or Rs.10000, whichever is lower
Cheque/ ECS swapping charges	Rs 500/- Instance
Loan cancellation	In the event of cancellation, interest charges from date of disbursement till the date of cancellation of loan will be borne by the customer. Processing Fee, Stamp duty and Documentation Charges are non-refundable charges and would not be waived/refunded in case of loan cancellation.
Legal, Repossession & Incidental charges	At actuals
Duplicate no due certificate / NOC	Rs 500/- Instance
Loan Reschedulement charges/ rebooking charges	Rs. 1000/- will be charged. If changes are required on RC, refundable Security Deposit – non-interest bearing of Rs. 5000 would be required. It will be the borrower's responsibility to provide the transferred Registration Certificate to the bank.
LPG/ CNG NOC/ Other Special NOC	Rs 500/- Instance
CIBIL Charges (only on request)	Rs. 50/-
Cheque/ SI / ECS Return Charges*	Rs. 550/- per instance
Amortisation Schedule Charges	Customer can download the schedule from E-Delight free of cost. Rs. 200/- per schedule would be charged at customer service desk.
Commercial / Personal Use NOC (conversion subject to credit approval)	Rs. 2250/- per NOC
Collateral Charges*	Rs.450 per case
Rack interest rate	9% to 10.25% depending on the segment of vehicle

Inter State NOC

Refundable Security Deposit (non-interest bearing) of Rs. 5000 will be taken. It will be the borrower's responsibility to provide the transferred Registration certificate to the bank. In addition NOC charge would be Rs. 500/-

Rates offered to customer during the period of July' 17 to Sept' 17