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
| HDFC Bank Custom-fit Car Loans | The loan scheme offers a host of repayment options to suit the needs of all types of retail customers. Zero foreclosure fees offered subject to certain conditions and top-up facility after 9 months of repayment. |
| ZipDrive-Instant New Car Loan | This scheme is exclusively designed for the existing customers of HDFC Bank. 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 | 7.95% p.a. to 8.30% p.a. based on the segment of vehicle |
Features and benefits of HDFC Bank car loans
- Car loans offered at attractive interest rates.
- Application status tracking facility 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.3 crore 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.
- Zero foreclosure fees within 6 months from the date of availing the car loan.
- The Autopedia app by HDFC Bank helps you compare, research, and read reviews on new cars.
- The bank comes up with multiple offers and discounts from time to time.
Eligibility for HDFC Bank car loans
| Salaried Applicants | Employees of: Private limited companies Public sector undertakings including central, state, and local bodies Age: Minimum of 21 years at the time of application Maximum of 60 years at the end of the loan tenure Minimum experience: 2 years with a minimum of 1 year with the current employer Minimum income: Rs.3 lakh per year, including the income of the spouse/co-applicant Applicants who have a telephone/post-paid mobile |
| Self Employed Individuals and Professionals (Sole Proprietorship) | Type of Business: Manufacturing, trading or services Age: Minimum of 21 years of age at the time of application Maximum of 65 years at the end of the loan tenure Minimum experience: 2 years Minimum income: Rs.3 lakh per annum |
| Self Employed Individuals and Professionals (Partnership Firms) | Types of Business: Manufacturing, trading, or services Minimum turnover: Rs.3 lakh per annum |
| Self Employed Individuals and Professionals (Private Limited Companies) | Individuals who own a private company in manufacturing, trading, or services Minimum income: Rs.3 lakh per annum |
| Self Employed Individuals (Public Limited Companies) | Includes directors in public limited companies in manufacturing, trading, or services Minimum income: Rs.3 lakh per annum |
Documents required for HDFC Bank car loans
| Applicant Type | Necessary Documentation |
| Salaried Applicants | 1. Any of the following documents as Identity and Address Proof: Valid Passport Permanent Driving license (recent, legible and laminated) Voter’s ID Card Job card issued by NREGA Letter issued by the National Population Register containing details of name and address Aadhaar Card (only if submitted voluntarily and backed by Aadhar consent letter. First 8 digits of Aadhar Number on physical copy to be redacted). Aadhaar Card can be Physical Aadhaar or Print out of e- Aadhaar (not older than 30 days from the application date). 2. Latest salary slip and Form 16 as income proof 3. Bank statement of the last 6 months |
| Self-Employed Applicants (Sole Proprietorship) | 1. Any of the following documents as Identity and Address Proof: Valid Passport Permanent Driving license (recent, legible, and laminated) Voter’s ID Card Job card issued by NREGA Letter issued by the National Population Register containing details of name and address 2. Latest income tax returns (ITR) as income proof 3. Bank statement of the last 6 months |
| Self-Employed Applicants (Partnership Firms) | 1. All the following documents as income proof: Audited Balance Sheet Profit & Loss Account of the previous 2 years Company ITR for the last 2 years 2. Any of the following documents as address proof: Telephone Bill Electricity Bill Shop & Establishment Act Certificate SSI Registered Certificate Sales Tax Certificate 3. Bank statement of the last 6 months |
| Self-Employed Applicants (Private Limited Companies) | 1. All the following documents as income proof: Audited Balance Sheet Profit & Loss Account of the last 2 years Company ITR for the last 2 years 2. Any of the following documents as address proof: Telephone Bill Electricity Bill Shop & Establishment Act Certificate SSI Registered Certificate Sales Tax Certificate 3. Bank statement of the last 6 months |
| Self-Employed Applicants (Public Limited Companies) | 1. All the following documents as income proof: Audited Balance Sheet Profit & Loss Account of the last 2 years 2. Any of the following documents as address proof: Telephone Bill Electricity Bill Shop & Establishment Act Certificate SSI Registered Certificate Sales Tax Certificate 3. Bank statement of the last 6 months |
HDFC Bank car loan fees and charges
| Fee Type | Amount |
| Documentation Charges | Rs.700 (no refund) |
| Processing Fees | 1% of the loan amount; minimum of Rs.5,000 and maximum of Rs.10,000 |
| Foreclosure Charges | Within 6 months – Nil 7th EMI to 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 13-24 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 | 2% per month |
How to calculate EMI on HDFC Bank car loans
Our car loan calculator helps you figure out the monthly instalments you must pay for a specific loan amount to finance your dream car.
Frequently Asked Questions
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