HDFC Bank Car Loan Interest Rates 2025
As the fifth-largest bank in India, HDFC Bank offers attractive deals on car loans, including competitive interest rates and part-payment options to help you pay off the loan earlier than the scheduled tenure. Read on to discover more about the benefits and features of HDFC Bank car loans.
Types of Car Loan Schemes of HDFC Bank
| Types of Car Loans | Particulars |
| HDFC Bank Xpress Car Loans | The loan is a digital loan scheme providing 100% financing on select vehicles and flexible repayments options to suit the needs of all types of retail customers. Top-up facility is provided for extra financing without any additional documentation. |
| ZipDrive-Instant New Car Loan | This is an instant car loan exclusively designed for the existing customers of HDFC Bank. Customers can apply through the NetBanking portal of the bank and get approval in no time. Enjoy instant disbursal of the loan amount. |
Interest Rates of HDFC Bank Car Loans
| Type | Interest Rate |
| Rack Interest Rate for New Cars | 9.40% onwards p.a. based on the loan amount, tenure and CIBIL score |
Features and Benefits of HDFC Bank Car Loans
- Car loans offered at attractive interest rates.
- Car loan application status can be tracked eaily on the official website of HDFC Bank.
- Get a repayment tenure of 1 year up to 7 years based on the repayment model you choose.
- Financing for the car can go up to Rs.25 lakh offered on a wide range of cars and multi-utility vehicles.
- Up to 100% on-road price financing subject to certain conditions for new cars.
- Get a top-up loan on the existing car loan with no documentation.
- Existing HDFC Bank customers can get 2x faster loan approval and instant disbursement through ZipDrive-Instant New Car Loan.
- Get funding for a comprehensive insurance product.
- Multiple repayment options to suit the needs of borrowers from different backgrounds.
Eligibility for HDFC Bank Car Loans
| Applicant Type | Eligibility Criteria |
| Salaried Applicants |
|
| Self Employed Individuals and Professionals (Sole Proprietorship) |
|
| Self Employed Individuals and Professionals (Partnership Firms) |
|
| Self Employed Individuals and Professionals (Private Limited Companies) |
|
| Self Employed Individuals (Public Limited Companies) |
|
Documents Required for HDFC Bank Car Loans
| Applicant Type | Necessary Documentation |
| Salaried Applicants |
|
| Self-Employed Applicants (Sole Proprietorship) |
|
| Self-Employed Applicants (Partnership Firms) |
|
| Self-Employed Applicants (Private Limited Companies) |
|
| Self-Employed Applicants (Public Limited Companies) |
|
HDFC Bank Car Loan Fees and Charges
| Fee Type | Amount |
| Documentation Charges | Rs.650 per case (no refund) |
| Processing Fees | 1% of the loan amount; minimum of Rs.3,500 and maximum of Rs.9,000 |
| Foreclosure Charges | Within 1 year – 6% of principal outstanding 13-24 months from the first EMI – 5% of principal outstanding Post 24 months from the first EMI – 3% of principal outstanding |
| Part-Payment Charges | Allowed subject to conditions. 5% on the part-payment amount if paid within 24 months from the first EMI 3% on the part-payment amount if paid post 24 months from the first EMI |
| Stamp Duty | At actuals |
| Overdue EMI Interest | 18% p.a. (1.5% per month) + applicable tax on overdue installment amount |
How to Calculate EMI on HDFC Bank Car Loans
Our HDFC car loan calculator helps you figure out the monthly installments you must pay for a specific loan amount to finance your dream car.
HDFC Bank provides car loans to fund your dream car. The car loan process is online, making it easy to apply. The HDFC Bank car loan interest rates start from 9.40% onwards p.a., depending on various factors.
Frequently Asked Questions
About the Author
Mayashree Acharya
I am an advocate by profession and have a keen interest in writing. I write articles in various categories, from legal, business, personal finance, and investments to government schemes. I put words in a simplified manner and write easy-to-understand articles. Read more
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