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HDB Finance New Car Loan
One of the leading NBFCs, HDB Financial Services, was established in 2008 as a division of the HDFC Bank Conglomerate. Currently, HDBFS offers all loan solutions to both retail and commercial clients.Powered By
HDB Finance New Car Loan
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Here are a few factors
| Location | 75Km from HDB Branch |
| CIBIL Score | 700+ & Minus 1 CIBIL Applicant |
| Loan Amount & Tenure | 1
Lac to 12 Lac (12 Month to 60 Month) |
| Loan to Value(LTV) | 90% of Ex-Showroom Value |
| Type of Funded Vehicle | New Car & Commercial Car |
| Rate of Interest & Type | 10% -26% (Fixed) |
| Processing Fees | Upto 3% |
| TAT | Sanction-2
Days Disbursement-3 Days |
| Foreclosure Charges | 4% after 12 month |
| Applicant | Any Salaried or Self Employed Person |
| Applicant Age | 1.Salaried-25Year
to 60 Year 2.Self Employed 25 Year to 65 Year (21year can be taken with co-applicant) |
| Applicant Minimum Income | 1.
Salary - 25K Net 2.Self Employed - Last 2 year ITR> 3Lac |
| Business Vintage for Self Employed Applicant | 2 Year |
| Minimum Job Experience for Salaried Applicant | 3 Year with 1 year continuity with Current Employer |
| Whether Co-Applicant Mandatory | Yes (Anyone having age> 25 year can be Co-Applicant) |
| Part Payment Allowed | Yes, after 12 month |
| Product | 1.
Income Program-90% LTV 2. Non Income Program- 75% LTV (FOR Maruti Product 80% LTV) 3. Banking Program-85% LTV (For Maruti 90% LTV) 4. Agri (NIP Program-)75% LTV (80% for Maruti Product) Loan if2-4 Acre Land-6 Lac, 4-6 Acre Land (7 lac), if >6 Acre Land-12 lac 5. Transporter Program-(Minimum 2 Commercial Vehicle required)-upto 12 lac(85% LTV for Maruti Product 90% LTV) 6. Armed Force Program-7 Lac Max 7. ECO Green Policy : Only for Maruti Eeco (Owned house mandatory) |
| Negative Profile | No Negative Profile |
| USP | 1.Funding
to Agriculturalist, Transporter, Self Employed Person with No Income Proof,
Commercial Car, Defence Person 2. If someone is having Owned Property he can take Car Loan 3. If someone is having Agriculture Land he can take loan |
| Additional | Gap between 2 ITR should be minimum 6 month |
Required Documents to Apply for HDB Finance New Car Loan
Salaried Person
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KYC of applicant
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Last 3 Month Salary Slip
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Last 12 month Bank Statement of applicant
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Last 3 year ITR with computation of income of applicant or Last 2 Year Form 16 of applicant
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26AS of last 2 year of applicant
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Quotation of Car
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Latest Utility Bill of co-borrower if Owned premises else rent agreement if rentedSanction letter of all running loan
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Latest utility Bill if owned residence or rent agreement if rented
Self Employed
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KYC of applicant & Co-Applicant
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KYC of Co-BorrowerLast 3 year ITR with computation of income of applicant & co-applicant
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Last 3 year audited balance sheet of applicant
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Last 3 year Tax audit report of applicant
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Last 12 month Bank Statement of applicant & co-applicant
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Copy of Last 12 month GST return if applicable
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Quotation of Car
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Sanction letter of all running loan
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Latest utility Bill of residence if owned or rent agreement if rented
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Latest utility Bill of Office if owned or rent agreement if rented
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List of Directors & Shareholders, if applicant if Company or List of Partners if applicant is Partnership firm/LLP
About HDB Finance New Car Loan
Purchasing a new car is more than simply an investment decision; it's a dream that provides you with joy, comfort, and a sense of success. That is why New Car Loans is dedicated to making your dream of getting a new car a reality.
With centuries of financial sector experience, HDB Finance has been a valued partner for families and individuals across the country. HDB Finance is proud of its long history and persistent dedication to providing creative, flexible, and trouble-free financial solutions.
Save Your Time with a Simple Loan Process
Visit Our Website
For the first step, you will have to visit our website to explore the loan options that fit your needs.
Select and Apply
Once you shortlist the loan you have been looking for, apply for it, and proceed with the further process.
Submit Your Document
One of the most important steps. Now you will have to submit all the required documents digitally.
Enjoy Your Financial Freedom!
Once your application is approved based on your eligibility, you will receive your loan amount shortly.
FREQUENTLY ASKED QUESTIONS
Any salaried or self-employed person can apply for these loans.
If you are earning at least 25K monthly, you are eligible for this loan.
Yes, HDB Finance will permit you after 12 months.
They will charge you upto 3% of your loan amount.
No, HDB Finance funding to applicants having no income proof.
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