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Here are a few factors

Rating 5 / 5★★★☆☆
Total - 1 ratings
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Security We request no collateral for our loan.
Loan Amount Starting from Rs.75,000
Tenure Longest repayment tenure of 7 years.
Interest Rates The lowest interest rate of 8% to 20%
Required salary 0.50% of the loan amount plus GST. Minimum of Rs. 3,500 plus GST. Maximum of Rs.8,000 plus GST.
Financing 100% of the vehicle price
Work Process

Save Your Time with a Simple Loan Process

01
Visit Our Website

For the first step, you will have to visit our website to explore the loan options that fit your needs.

02
Select and Apply

Once you shortlist the loan you have been looking for, apply for it, and proceed with the further process.

03
Submit Your Document

One of the most important steps. Now you will have to submit all the required documents digitally.

04
Enjoy Your Financial Freedom!

Once your application is approved based on your eligibility, you will receive your loan amount shortly.

HDFC bank is one of the great growing banks in our country, offering some below benefits for the car loan applicants:

Benefits of a car loan with HDFC bank

  • They offer paperless loan applications because the complete process is done online.
  • The car loan amount was ranging from 75,000 to 3,50,00,000.
  • HDFC bank offers flexible repayment options from 12 months to 84 months.
  • If you are an existing HDFC bank customer, you can easily apply for the car loan on the application itself and it will be approved within just 10 minutes.
  • If you already have a car loan, HDFC bank can offer you top-up loans for the same.
  • Along with the new car loans, HDFC bank also offers insurance plans to its customers.
  • If you are an existing HDFC Bank member, then you can apply for a car loan within 10 seconds of the application without any documentation.
  • Along with the car loan, HDFC also allows the buyer to avail of insurance plans from the bank.
Right Documents - Easy Process

Documents required for Kotak bank car loan

PAN Card

Aadhaar Card

Driving Licence

Loan repayment track (if any).

Vehicle details

Registered rent agreement

Your current Job identity proof or company ITR documents

Salaried income documents

Your relevant last 6 months' bank statement

Salaried private or public companies employees

  • Minimum age of 21 years
  • Maximum age of 60 years at the end of the tenure of the loan.
  • Car loan application form
  • Last 6 months’ bank statement
  • Identity and Address Proof

Self Employed private limited company

  • Car loan application form Car loan application form
  • Last 6 months’ bank statement
  • Identity and Address Proof
  • Income proof: Form 16 and ITR for 2 years

Eligibility

  • Salaried Individuals who are private or public companies employees and are eligible for applying for a car loan
  • Self Employed Individuals who are the sole proprietors of the business and are eligible for a car loan
  • Self-employed individuals of a private limited company who are eligible for a car loan
  • Self-employed individuals of a public limited company
Apply for Loan

Let us take an example, How EMI is being calculated

Year Principal
(A) 		Interest
(B) 		Total Payment
(A + B) 		Balance Loan Paid To Date
2022 ₹ 11,363 ₹ 5,969 ₹ 17,333 ₹ 88,637 11.36%
Aug ₹ 2,217 ₹ 1,250 ₹ 3,467 ₹ 97,783 2.22%
Sep ₹ 2,244 ₹ 1,222 ₹ 3,467 ₹ 95,539 4.46%
Oct ₹ 2,272 ₹ 1,194 ₹ 3,467 ₹ 93,267 6.73%
Nov ₹ 2,301 ₹ 1,166 ₹ 3,467 ₹ 90,966 9.03%
Dec ₹ 2,329 ₹ 1,137 ₹ 3,467 ₹ 88,637 11.36%
2023 ₹ 30,332 ₹ 11,266 ₹ 41,598 ₹ 58,305 41.70%
Jan ₹ 2,359 ₹ 1,108 ₹ 3,467 ₹ 86,278 13.72%
Feb ₹ 2,388 ₹ 1,078 ₹ 3,467 ₹ 83,890 16.11%
Mar ₹ 2,418 ₹ 1,049 ₹ 3,467 ₹ 81,472 18.53%
Apr ₹ 2,448 ₹ 1,018 ₹ 3,467 ₹ 79,024 20.98%
May ₹ 2,479 ₹ 988 ₹ 3,467 ₹ 76,545 23.45%
Jun ₹ 2,510 ₹ 957 ₹ 3,467 ₹ 74,036 25.96%
Jul ₹ 2,541 ₹ 925 ₹ 3,467 ₹ 71,495 28.51%
Aug ₹ 2,573 ₹ 894 ₹ 3,467 ₹ 68,922 31.08%
Sep ₹ 2,605 ₹ 862 ₹ 3,467 ₹ 66,317 33.68%
Oct ₹ 2,638 ₹ 829 ₹ 3,467 ₹ 63,679 36.32%
Nov ₹ 2,671 ₹ 796 ₹ 3,467 ₹ 61,009 38.99%
Dec ₹ 2,704 ₹ 763 ₹ 3,467 ₹ 58,305 41.70%
2024 ₹ 35,208 ₹ 6,390 ₹ 41,598 ₹ 23,097 76.90%
Jan ₹ 2,738 ₹ 729 ₹ 3,467 ₹ 55,567 44.43%
Feb ₹ 2,772 ₹ 695 ₹ 3,467 ₹ 52,795 47.20%
Mar ₹ 2,807 ₹ 660 ₹ 3,467 ₹ 49,988 50.01%
Apr ₹ 2,842 ₹ 625 ₹ 3,467 ₹ 47,147 52.85%
May ₹ 2,877 ₹ 589 ₹ 3,467 ₹ 44,270 55.73%
Jun ₹ 2,913 ₹ 553 ₹ 3,467 ₹ 41,356 58.64%
Jul ₹ 2,950 ₹ 517 ₹ 3,467 ₹ 38,407 61.59%
Aug ₹ 2,986 ₹ 480 ₹ 3,467 ₹ 35,420 64.58%
Sep ₹ 3,024 ₹ 443 ₹ 3,467 ₹ 32,397 67.60%
Oct ₹ 3,062 ₹ 405 ₹ 3,467 ₹ 29,335 70.67%
Nov ₹ 3,100 ₹ 367 ₹ 3,467 ₹ 26,235 73.76%
Dec ₹ 3,139 ₹ 328 ₹ 3,467 ₹ 23,097 76.90%
2025 ₹ 23,097 ₹ 1,169 ₹ 24,266 ₹ 0 100.00%
Jan ₹ 3,178 ₹ 289 ₹ 3,467 ₹ 19,919 80.08%
Feb ₹ 3,218 ₹ 249 ₹ 3,467 ₹ 16,701 83.30%
Mar ₹ 3,258 ₹ 209 ₹ 3,467 ₹ 13,443 86.56%
Apr ₹ 3,298 ₹ 168 ₹ 3,467 ₹ 10,145 89.86%
May ₹ 3,340 ₹ 127 ₹ 3,467 ₹ 6,805 93.19%
Jun ₹ 3,381 ₹ 85 ₹ 3,467 ₹ 3,424 96.58%
Jul ₹ 3,424 ₹ 43 ₹ 3,467 ₹ 0 100.00%
Leave Your Question

FREQUENTLY ASKED QUESTIONS

HDFC Bank considers a credit score that is more than 750 for the new car loan applicants.

Yes, the loan tenure directly affects the loan EMI. The longer the loan tenure, the higher the EMI amount of the new car loan. 

No, HDFC Bank does not ask for any penalty fee if you wish to pre-close your new car loan. 

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