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HDB Financial Used Car Loan
Everybody's everyday life now includes travel, whether it's for a weekend trip, a family trip, or even just a commute to work. No matter how different your needs may be, having a car will let you satisfy them for comfort and convenience when traveling. You can take a step toward owning your ideal vehicle with the aid of a car loan. If you're looking to buy a new or used car, HDB Financial Services can help with swift car loans.Powered By
HDB Financial Used Car Loan
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Here are a few factors
| Location | 50Km from Branch |
| CIBIL Score | 700+ & Minus 1 CIBIL Applicant |
| Loan Amount & Tenure | 1
Lac to 12 Lac (12 month to 48 month) |
| Loan to Value(LTV) | Upto 90% of Value of Car |
| Type of Funded Vehicle | Funding to 3rd Owner |
| Rate of Interest & Type | 14% to 20% (Reducing) |
| Processing Fees | Upto 3% of Loan amount |
| TAT | Sanction-3 Days Disbursement-3 Days |
| Foreclosure Charges | 5% after 6 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 6 month |
| Product | 1. Sale-Purchase 2. Refinance 3. External BT |
| Program | 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 | NRI |
| 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 | 1. Gap between 2 ITR should be minimum 6 month |
Required Documents to Apply for HDB Financial Used Car Loan
Salaried Person
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KYC of applicant
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Last 3 Month Salary Slip of Applicant
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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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RC of CAR
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Insurance Copy
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Sanction 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
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Last 3 year ITR with computation of income of applicant
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Last 3 year audited balance sheet of applicant if available
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Last 3 year Tax audit report of applicant if applicable
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Last 12 month Bank Statement of applicant
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RC of CAR
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Insurance Copy
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Copy of GST registration if available
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Copy of Last 12 month GST return if applicable
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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 Financial Services Car Loan
Travelling is nowadays a part of everyone's everyday life, whether it's going to work, travelling with family members, or going on a short weekend break. Buying a car will be beneficial for you to meet your relaxation, trips, and luxury needs, no matter how diverse they may be. A car loan might bring you one step closer to acquiring your dream vehicle.
HDB Financial Services used car loan provides financial support to customers looking to buy a new or used car. Top-ups on ongoing vehicle loans, low-interest rates, simple and swift processing, and straightforward paperwork processing are all part of our loan options.
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
You have the option of choosing new vehicle financing or used car financing, depending on whether you want to buy a new or used car.
Up to 90% of the vehicle's worth may be borrowed for a car loan through HDB Financial Services. The total amount of the car loan will also depend on your being eligible for one.
You may be approved for a new or used automobile loan by HDB Financial Services according to your eligibility, credibility, and other internal requirements.
The lender will send the No-Objection Certificate (NOC) to your address after you have paid back the amount you borrowed. Please email [email protected] or call customer support at +914442984541 if you haven't gotten your NOC for any reason.
Nearly all passenger cars and multipurpose vehicles manufactured by India's top automakers are eligible for HDB financial.
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