At HDFC Bank, we understand that you need more than just finance for your dream car. Thus we offer you a complete package of timely service, competitive rates & competent guidance along with 100% finance on select models. So come to HDFC Bank Auto Loans and put your life on the fast track.
Features & Benefit | Eligibility | Fees & Charges | FAQs
Features & Benefits
Covers the widest range of cars and
multi-utility vehicles in India.
Upto 100% finance on your favourite car.**
Flexible repayment options, ranging
from 12 to 84 months.
Borrow up to 3 times your annual
salary (for salaried professionals) and 6 times your
annual income (for self employed professionals)*.
Speedy processing - within 48
hours .
Repay with easy EMIs.
Attractive Interest rates
Hassle-free documentation.
Customer Privileges
If you are an HDFC Bank account holder , we
have special rates for you.
If you have had a Preferred Account or a Corporate
Salary Account with HDFC Bank for more than six months, you
can get fast approvals on your loans with minimal documentation.
If you are an existing HDFC Bank Car Loan customer with a clear repayment of 12 months
or more we can Top-Up your car loan to the extent of the original
loan value .
*This would also vary with higher loan
value
Choose any car manufactured in India within a certain age*.
Borrow up to 80% of the value of the car .
Flexible repayment options, ranging from 12 to 60 months.
Borrow up to 3 times your annual salary (for salaried professionals) and 6 times your annual income (for self employed professionals)**.
Available for almost all car models at attractive interest rates.
Repay with easy EMIs.
Additional loan on existing loan - If you are a existing HDFC Bank Auto loan customer with a clear track record of 12 months or more, then you can get an additional loan to the extent of your existing loan amount at attractive rate of interest.
Customer Privileges
Special benefits for HDFC Bank account holders.
If you have had a Preferred Account or a Corporate Salary Account with HDFC Bank for more than six months, you can get fast approvals on your loans with minimal documentation.
* Age of Car at loan maturity should not cross 10 years subject to maximum loan tenure of 60 months.
Eligibility
Salaried Individuals
Eligibility Criteria:
Minimum age of Applicant: 21 years
Maximum age of Applicant at loan maturity: 58 years
Minimum employment: 1 year in current employment and minimum 2 years of employment
Minimum Annual Income: Rs 100000 net annual income
Telephone: Must at residence
Documents required:
Proof of Identity:- Passport copy, PAN Card, Voters Id car, 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:- Not mandatory
Self Employed
Eligibility Criteria:
Minimum age of Applicant: 21 years
Maximum age of Applicant at loan maturity: 65 years
Minimum employment: Atleast 3 years in business
Minimum Annual Income: Net profit Rs. 60000 p.a for standard cars and Rs.100000 p.a. for mid-sized and premium cars
Telephone: Must at residence
Documents required:
Proof of Identity:- Passport copy, PAN Card, Voters Id car, driving licence( Laminated, Recent, Legible)
Income Proof:- Latest ITR
Address Proof:- Ration card/Driving licence/Voters card/passport copy/telephone bill/ electricity bill/Life insurance policy PAN Card
Bank Statement:- Waived for small cars, for mid - sized and premium cars if income Is greater than Rs. 1.5 lacs then bank statement requirement can be waived.
Partnership Firms
Eligibility Criteria:
Minimum Income: Net profit Rs. 60000 p.a for standard cars and Rs.100000 p.a. for mid-sized and premium cars
Minimum turnover: Turnover Rs. 4.5 lacs
Telephone: One phone at least at business and at residence of the loan executing partner
Documents required:
Proof of Identity:- NA
Income Proof:- Audited balance sheet, Profit & Loss Account for latest two years and the latest 2 years IT returns of the company
Address Proof:- Telephone Bill/Electricity Bill/Shop & Establishment Act certificate/SSI registered certificate/Sales Tax certificate
Bank Statement:- Waived for small cars, for mid - sized and premium cars if income Is greater than Rs 1.5 lacs then bank statement requirement can be waived
Private Limited Company
Eligibility Criteria:
Minimum Income: Net profit Rs. 60000 p.a for standard cars and Rs.100000 p a for mid-sized and premium cars
Minimum turnover: Turnover Rs 4.5 lacs
Telephone: One phone at least at business premises
Documents required:
Proof of Identity:- NA
Income Proof:- Audited balance sheet, Profit & Loss Account for latest two years and the latest 2 years IT returns of the company
Address Proof:- Telephone Bill/Electricity Bill/Shop & Establishment Act certificate/SSI registered certificate/Sales Tax certificate
Bank Statement:- NA
Public Limited Company
Eligibility Criteria:
Minimum Income: Net profit Rs. 60000 p.a for standard cars and Rs.100000 p a for mid-sized and premium cars
Minimum turnover: Turnover Rs 4.5 lacs
Telephone: One phone at least at business premises
Documents required:
Proof of Identity:- NA
Income Proof:- Audited balance sheet, Profit & Loss Account for latest two years
Address Proof:- Telephone Bill/Electricity Bill/Shop & Establishment Act certificate/SSI registered certificate/Sales Tax certificate
Bank Statement:- NA
Salaried Individuals
Eligibility Criteria
Minimum age of Applicant: 21 years
Maximum age of Applicant at loan maturity: 60 years
Minimum employment: 1 year in current employment and minimum 2 years of employment
Gross household income i.e. including income of the spouse: Rs 100000 net annual income
Telephone: Necessary at residence
Documents required:
Age Proof: Any one of Passport copy, PAN Card, Voters ID card, Photo driving licence with birth date ( laminated, recent , legible), Photo ration card with DOB, Employer certificate/ID, School/College Leaving certificate.Proof of Identity: Any one of Passport copy, PAN Card, Voters ID card, Photo driving licence with birth date, Photo ration card with DOB.Income Proof: Latest salary slip with latest form 16/latest ITR. HDFC Bank corporate salary account statement for salary credits of above Rs 8000 for three months.Address Proof: Any one of Photo Ration card with DOB, Photo Driving licence with DOB, Passport copy, Telephone bill, Electricity bill, Credit Card statement with credit card copy, Employer certificate/ID.Sign Verification Proof: Any one of Passport copy, Photo driving licence with birth date ( laminated, recent , legible), Credit Card statement with credit card copy, Banker's verification, Copy of margin money paid to bank.
Self Employed
Eligibility Criteria
Minimum age of Applicant : 21 years
Maximum age of Applicant at loan maturity : 65 years
Minimum employment : Atleast 3 years in business
Minimum Annual Income : 60000
Telephone: Necessary at residence
Documents required:
Age Proof: Any one of Passport copy, PAN Card, Voters ID card, Photo driving licence with birth date ( laminated, recent , legible), Photo ration card with DOB, Employer certificate/ID, School/College Leaving certificate.Proof of Identity: Any one of Passport copy, PAN Card, Voters ID card, Photo driving licence with birth date ( laminated, recent , legible), Photo ration card with DOB.Income Proof: Latest ITR / Previous ITR with Adv. Tax paid challan / latest IT asessment order.Address Proof: Any one of Photo Ration card with DOB, Photo Driving licence with DOB, Passport copy, Telephone bill, Electricity bill, Credit Card statement with credit card copy, Employer certificate/ID.Sign Verification Proof: Any one of Passport copy, Photo driving licence with birth date (laminated, recent , legible), Credit Card statement with credit card copy, Banker's verification, Copy of margin money paid to bank.
Partnership Firms
Eligibility Criteria
Minimum Income : Rs. 60000 p.a
Minimum turnover : Turnover Rs 4.5 lacs
Telephone: Landline at office and at residence of the loan executing partner. Post-paid mobile phone of three month vintage acceptable in case of landline at only one place.
Documents required:
Age Proof: Partnership deed.Proof of Identity: Partnership deed.Income Proof: Latest ITR and latest Balance Sheet along with Profit and Loss Account. In case of Business turnovers exceeding 40 lacs or Professional turnovers exceeding 10 lacs, the Balance sheet needs to have been audited and in which case the latest Income Tax Return need not be taken.Address Proof: Partnership deed or any of Telephone bill, Electricity bill.Sign Verification Proof: Any one of Passport copy, Photo driving licence with birth date (laminated, recent , legible), Credit Card statement with credit card copy, Banker's verification, Copy of margin money paid to bank.
Private Limited Company
Eligibility Criteria
Minimum Income : Rs. 60000 p.a.
Telephone: Landline at office
Documents required:
Age Proof: Memorandum and Articles of Association / Certificate of incorporation.Proof of Identity: Memorandum and Articles of Association / Certificate of incorporation.Income Proof: Latest ITR and latest audited Balance Sheet along with Profit and Loss Account.Address Proof: Memorandum and Articles of Association / Certificate of incorporation or any of Telephone Bill, Electricity Bill.Sign Verification Proof: Any one of Passport copy, Photo driving licence with birth date (laminated, recent , legible), Credit Card statement with credit card copy, Banker's verification, Copy of margin money paid to bank.
Public Limited Company
Eligibility Criteria
Minimum Income : 60000 p.a.
Telephone: Landline at office
Documents required:
Age Proof: Memorandum and Articles of Association / Certificate of incorporation.Proof of Identity: Memorandum and Articles of Association / Certificate of incorporation.Income Proof: Latest ITR and latest audited Balance Sheet along with Profit and Loss Account.Address Proof: Memorandum and Articles of Association / Certificate of incorporation or any of Telephone Bill, Electricity Bill.Sign Verification Proof: Any one of Passport copy, Photo driving licence with birth date (laminated, recent , legible), Credit Card statement with credit card copy, Banker's verification, Copy of margin money paid to bank.
HUF
Eligibility Criteria
Minimum income : Rs 60000 p.a.
For HUFs, Karta to be co-applicant in his individual capacity.
Telephone: Landline at office and at residence of the loan executing partner. Post-paid mobile phone of three month vintage acceptable in case of landline at only one place.
Fees & Charges
Description of charges
New Car Loans
Cheque bouncing charges
Rs. 450
FC Charges
6 % of POS for preclosures within 1 year from 1st
EMI
Stamp Duty
At actuals
Late Payment Penalty
2% per month
Processing fees
Upto 2.5 Lacs : Rs.2000/-
Agri /PSL Charges
Rs 2000
Cheque swapping charges
Rs 500/-
Loan cancellation / re-booking charges
Rs 1000/-
Bounce Cheque Charges
Rs 450/-
Statement Charges (per statement)
Rs 500/-
Duplicate Repayment Schedule charges
Rs 500/-
Legal, Repossession & Incidental charges
At actuals
Duplicate no due certificate / NOC
Rs 500/-
Transaction fees for Suraksha Kavach
Rs 500/- per case
Original RC Book Handling Charges
Rs. 500/- Per RC book
Description of charges
Used Car Loans
Cheque bouncing charges
Rs. 450
FC Charges
6% of POS for preclosures within 1 year from 1st
EMI
5% of POS for preclosures within 13-24 months from
1st EMI
3% of POS for preclosures post 24 months from 1st
EMI
No foreclosure allowed within 6 months from date
of availing the car loan.
Stamp Duty
At actuals
Late Payment Penalty
2% per month
Processing fees
Used cars -2% of loan amount or Rs.5000/-, whichever
is lower
Car-n-cash / Balance Transfer - 2% of Loan amount
or Rs.4000/-, whicever is lower
Agri /PSL Charges
Rs 2000
Cheque swapping charges
Rs 500/-
Loan cancellation / re-booking charges
Rs 1000/-
Bounce Cheque Charges
Rs 450/-
Statement Charges (per statement)
Rs 500/-
Duplicate Repayment Schedule charges
Rs 500/-
Legal, Repossession & Incidental charges
At actuals
Duplicate no due certificate / NOC
Rs 500/-
Transaction fees for Suraksha Kavach
Rs 500/- per case
Original RC Book Handling Charges
Rs. 500/- Per RC book
FAQs
Who can avail of HDFC Bank Used Car Loans?
Salaried individuals in the age group of 21 to 60 years (at the end of the tenure)
Self-employed individuals in the age group of 21 to 65 years (at the end of the tenure)
Partnership Firms
Public & Private Ltd. companies
HUFs and Trusts
Please visit Eligibility & Documentation to know more.
Which cars can be financed?
How much finance can I avail of?
What are the tenure options?
How long will it take to process the loan?
Do I have the option of pre-paying the entire loan amount?
If I don't have an account with HDFC Bank, can I still avail of loans?
Do I need a guarantor?
Who can avail of HDFC Bank Used Car Loans?
Salaried individuals in the age group of 21 to 60 years (at the end of the tenure)
Self-employed individuals in the age group of 21 to 65 years (at the end of the tenure)
Partnership Firms
Public & Private Ltd. companies
HUFs and Trusts
Please visit Eligibility & Documentation to know more.
Which cars can be financed? apply online now.
How much finance can I avail of?
What are the tenure options?
How long will it take to process the loan?
If I don't have an account with HDFC Bank, can I still avail of loans?
Do I need a guarantor?
Maruti vehicles schemes under A2 and A3 segment.
Product Validity This scheme will be valid up to 7th May’10
Locations Scheme will be applicable for all approved locations except ( UP , Uttranchal , Haryana , Himachal, Jammu , Assam , Jharkhand and Bihar
Proposal To provide 100% funding on ex showroom for selected A2 & A3 segment cars.
Eligible Applicants: This scheme is applicable to Salaried and Self-employed individual applicants.
Eligible Cars The list of A2 & A3 Segment Cars are attached below which are eligible for 100% funding
Vehicle should not be used for Commercial purpose.
LTV & Tenor Gross LTV of 100% of Ex showroom price (net of discount) for tenor up to 60 months with one advance EMI.
List of Maruti Models which are eligible for 100% funding.
Model Segment
Alto
A2
Astar
A2
Glam
A2
Ritz
A2
Wagon R
A2
Zen
A2
Estilo
A2
Baleno
A3
Dzire
A3
Esteem
A3
Swift
A3
SX4
A3
Hyundai Santro & i10
Pl note a canned scheme with HMIL for the Hyundai Santro and I10 for Feb 10.
SCHEME I - 7.77 %
Loan Amount Rs. 250000
Rs. 280000
Rs. 300000
Rs. 325000
Rs. 350000
Rs. 375000
Tenure 36
36
36
36
36
36
No. of Installments 36
36
36
36
36
36
No. of Advance Installment 1
1
1
1
1
1
Bank Rate of Interest 9.01%
9.00%
9.00%
9.00%
9.01%
9.00%
Customer Rate of Interest 7.77%
7.77%
7.77%
7.77%
7.77%
7.77%
Installment Amount Rs. 7757
Rs. 8688
Rs. 9308
Rs. 10084
Rs. 10860
Rs. 11635
SCHEME II - 8.88 %
Loan Amount Rs. 250000
Rs. 280000
Rs. 300000
Rs. 325000
Rs. 350000
Rs. 375000
Tenure 36
36
36
36
36
36
No. of Installments 36
36
36
36
36
36
No. of Advance Installment 1
1
1
1
1
1
Bank Rate of Interest 9.03%
9.03%
9.04%
9.03%
9.03%
9.03%
Customer Rate of Interest 8.88%
8.88%
8.88%
8.88%
8.88%
8.88%
Installment Amount Rs. 7878
Rs. 8823
Rs. 9453
Rs. 10241
Rs. 11029
Rs. 11817
