HDFC Bank not only will finance your used car, also will help you
search for one through wide range of used car listings by its
preferential dealers across the county, with various search options like
search by Brand, Location, EMI etc.

Pre-Owned Car Loan Features

Flexible Repayment Tenure
Decide whether you'd like your loan tenure to be just 12 months, or 84 months, with our pocket-friendly EMI repayment options.
Fulfil Your Every Need
Get
between 3 to 6 times your yearly income, and borrow up to 100% of the
value of the car, on a wide range of cars manufactured within India,
that are of a certain age*.
*Age of Car at loan maturity should not cross 10 years, subject to maximum loan tenure of 60 months
Competitive Rates
Get an easy loan up to Rs.1 crore with ease, and enjoy our competitive rates of interest, with no hidden charges.
Fast Track Your Application
Find the plan that best suits your needs, and fast track your HDFC Bank Pre-Owned Car Loan application.
NRI Loans:
As
an NRI, you can avail of our Pre-Owned Car Loan, and provide your
relatives in India a car to use. You would need to submit the following
documents along with your loan application:
- Contract copy and salary slip
- Endorsement on passport for the previous 3 years
- Proof of ownership of property
- Post-dated cheques from a resident account of the borrower
No Income-Document Loan Plan:
It is possible to apply for an HDFC Bank Pre-Owned Car Loan. This plan comes with the following conditions
- Get up to 65% of the car value as the loan amount for a 3 year tenure
- Get up to 60% of the car value as the loan amount for a 5 year tenure
Quick & Transparent Loan Disbursal
Our
loan disbursal process isn't just quick, it's also completely
transparent. You'll get status updates about your loan application at
each and every stage of the process. Our quick documentation and
doorstep service also means that our loans are sanctioned and disbursed
faster. Check your eligibility in just 60 seconds.
Special Benefits for HDFC Bank Customers
Existing
HDFC Bank customers can enjoy added benefits with unique schemes just
for them. You can also get an additional loan on your existing HDFC Bank
Auto Loan.

Pre-Owned Car Loan Eligibility Criteria

The following people are eligible to apply for a Pre-Owned Car Loan:

Salaried Individuals:
- This
  includes doctors, CAs, 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
Self Employed Individuals (Sole Proprietorship):
- This includes self-employed sole proprietors in the business of manufacturing, trading or services
- Individuals
  who are a minimum of 25 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 3 years
- Should earn at least Rs. 2,50,000 per annum
Self Employed Individuals (Partnership Firms):
- This includes self-employed partners in the business of manufacturing, trading or services
- Individuals who earn at least Rs. 2,50,000 per annum
- Those who have a minimum turnover of Rs. 4,50,000 per annum
- Individuals
  who have a residence or office telephone line. A post-paid mobile phone
  that is a minimum of three months old is acceptable if only one
  landline is available
Self Employed Individuals (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
- Individuals who have an office landline
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
- Individuals who have an office landline
Self Employed Individuals (Hindu Undivided Family - HUF):
- This includes self-employed individuals in a business that falls under HUF
- Should earn at least Rs. 2,50,000 per annum
- Individuals
  who have a residence and office telephone line. A post-paid mobile
  phone that is a minimum of three months old is acceptable if only one
  landline is available
- The Karta should be the co-applicant in his individual capacity

Pre-Owned Car Loan Documentation

The following documents are required along with your New Car Loan application:

Salaried Individuals:
- Any of the following age proof documents:
  - Passport
  - PAN Card
  - Voters ID Card
  - Photo Driving License with DOB (recent, legible, laminated)
  - Photo Ration Card with DOB
  - Employer Certificate/ID
  - School/College Leaving Certificate
- Any of the following documents as proof of identity:
  - Passport Copy
  - PAN Card
  - Voters ID Card
  - Photo Driving License with DOB (recent, legible, laminated)
  - Photo Ration Card with DOB
- All the following documents as proof of income:
  - Latest Salary Slip
  - Latest Form 16/Latest ITR
  - HDFC Bank corporate salary account statement for salary credits above Rs. 80,000 for the previous 3 months
- Any of the following documents as address proof:
  - Photo Ration Card with DOB
  - Photo Driving License with DOB (recent, legible, laminated)
  - Passport Copy
  - Telephone Bill
  - Electricity Bill
  - Credit Card Statement with Credit Card Copy
  - Employer Certificate/ID
- Any of the following as sign verification proof:
  - Passport Copy
  - Photo Driving License with DOB (recent, legible, laminated)
  - Credit Card Statement with Credit Card Copy
  - Banker's Verification
  - Copy of Margin Money Paid to the Bank
Self Employed Individuals (Sole Proprietorship):
- Any of the following age proof documents:
  - Passport
  - PAN Card
  - Voters ID Card
  - Photo Driving License with DOB (recent, legible, laminated)
  - Photo Ration Card with DOB
  - Employer Certificate/ID
  - School/College Leaving Certificate
- Any of the following documents as proof of identity:
  - Passport Copy
  - PAN Card
  - Voters ID Card
  - Photo Driving License with DOB (recent, legible, laminated)
  - Photo Ration Card with DOB
- Latest ITR / Previous ITR with Adv. Tax paid Challan / latest IT assessment order as proof of income
- Any of the following documents as address proof:
  - Photo Ration Card with DOB
  - Photo Driving License with DOB (recent, legible, laminated)
  - Passport Copy
  - Telephone Bill
  - Electricity Bill
  - Credit Card Statement with Credit Card Copy
  - Employer Certificate/ID
- Any of the following as sign verification proof:
  - Passport Copy
  - Photo Driving License with DOB (recent, legible, laminated)
  - Credit Card Statement with Credit Card Copy
  - Banker's Verification
  - Copy of Margin Money Paid to the Bank
Self Employed Individuals (Partnership Firms):
- Partnership deed as age proof
- Partnership deed as identity proof
- Latest
  ITR/Previous ITR with Adv. Tax paid Challan / latest IT assessment
  order as proof of income. In case the business turnover exceeds Rs. 40
  Lakhs, or the professional turnover exceeds Rs. 10 Lakhs, the balance
  sheet needs to have been audited, and in which case the latest Income
  Tax Return need not be taken
- Any of the following documents as address proof:
  - Partnership Deed
  - Telephone Bill
  - Electricity Bill
- Any of the following as sign verification proof:
  - Passport Copy
  - Photo Driving License with DOB (recent, legible, laminated)
  - Credit Card Statement with Credit Card Copy
  - Banker's Verification
  - Copy of Margin Money Paid to the Bank
Self Employed Individuals (Private Limited Companies)
- Memorandum and Articles of Association/Certificate of Incorporation as age proof
- Memorandum and Articles of Association/Certificate of Incorporation as identity proof
- Latest ITR and audited balance sheet along with profit & loss account as proof of income
- Any of the following documents as address proof:
  - Memorandum and Articles of Association
  - Certification of Incorporation
  - Telephone Bill
  - Electricity Bill
- Any of the following as sign verification proof:
  - Passport Copy
  - Photo Driving License with DOB (recent, legible, laminated)
  - Credit Card Statement with Credit Card Copy
  - Banker's Verification
  - Copy of Margin Money Paid to the Bank
Self Employed Individuals (Public Limited Companies):
- Memorandum and Articles of Association/Certificate of Incorporation as age proof
- Memorandum and Articles of Association/Certificate of Incorporation as identity proof
- Latest ITR and audited balance sheet along with profit & loss account as proof of income
- Any of the following documents as address proof:
  - Memorandum and Articles of Association
  - Certification of Incorporation
  - Telephone Bill
  - Electricity Bill
- Any of the following as sign verification proof:
  - Passport Copy
  - Photo Driving License with DOB (recent, legible, laminated)
  - Credit Card Statement with Credit Card Copy
  - Banker's Verification
  - Copy of Margin Money Paid to the Bank

Pre-Owned Car Loan Rates & Fees

The HDFC Bank Pre-Owned Car Loan Rates & Fees are as follows:

Description of Charges	Amount to be Paid
Foreclosure charges*	No foreclosure allowed within 6 months from date of availing the 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 * Service tax, Krishi Kalyan Cess, Swatch Bharat Cess etc additional
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 only twice during the loan tenure, and is allowed only once per year. At any point of time, part-payment will not increase beyond 25% of Principal Outstanding 5% of the part-payment amount in case part prepayment in within 13-24 months from 1st EMI 3% on the part-payment amount in case part prepayment is post 24 months from 1st EMI * Service tax, Krishi Kalyan Cess, Swatch Bharat Cess etc additional
Stamp Duty (non-refundable)	At actuals
Late Payment Penalty	2% per month
Processing fees* (non-refundable)	2% of loan amount or Rs. 5,000/-, whichever is lower
Cheque/ECS swapping charges	Rs. 500/- per 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 and Stamp Duty and RTO charges (Used Car Purchase/Refinance) 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/- per instance
Loan reschedulement charges/rebooking charges	Rs. 1,000/- will be charged. If changes are required on RC, refundable Security Deposit – non-interest bearing of Rs. 5,000/- 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/- per 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 the customer service desk
Commercial/Personal Use NOC (conversion subject to credit approval)	Rs. 2,250/- per NOC
PDD Collection charges*	Rs. 450 per case
Rack interest rate	11.50% to 17.50% depending on the segment and age of vehicle

Inter-State NOC

Refundable
Security Deposit (non-interest bearing) of Rs. 5,000 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