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HDFC Car Loan Eligibility interest rates and Documents Requirement for Apply HDFC
Bank Car Loans
HDFC Car Loan: HDFC Provides a Quick and Easy car loans with Easy Documents, EMI
Options and Low Interest Rates. HDFC Car loan interest rates start from 9.25 to 11.50 percent.
Click for Apply Car Loan.
HDFC Bank provides a personal banking in Loans, Credit Cards, Insurance and Investments,
Forex and Trade services.
Borrow up to 3 times your annual salary (for salaried professionals) and 6 times your
annual income (for self employed professionals).
Customer Privileges
If you are an HDFC Bank account holder, we have special rates for you.
If you have had a Preferred Account or a Corporate Salary Account with HDFC
Bank for more than six months, you can get fast approvals on your loans with
minimal documentation.
If you are an existing HDFC Bank Car Loan customer with a clear repayment of 12
months or more we can Top-Up your car loan to the extent of the original loan
value.
Requirements:
Facility is available to only HDFC bank account holders (CASA).
All terms and conditions applicable for the used car product are applicable for the Loan
take over product.
Minimum 9 month old loan with any approved Financier with clear repayment track
record.
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Advantage platinum Credit Card Plan:
If you are a salaried individual holding any of the credit cards mentioned below, your loan gets
processed faster.
HDFC Bank International Credit Card
Citibank Gold
Citibank Diners
HSBC Gold
Requirements:
Your card has to be at least one year old.
You need to submit the last two billing statements.
Small cars, normal funding up to three years.
Funding on premium cars restricted to 70% under this plan.
The plan does not include multi-utility vehicles.
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No Income-Document Loan Plan:
Now, you can get a car loan without proof of income.
Under this scheme, you get the loan amount up to 60% of the car invoice value.
Lien is marked on the specified deposit. Installments can be paid separately or out of the
deposit (if deposit is large enough).
Salaried Individuals
Self Employed
Partnership Firms
Salaried Individuals
Eligibility Criteria:
Minimum age of Applicant: 21 years.
Maximum age of Applicant at loan maturity: 58 years.
Minimum employment: 1 year in current employment and minimum 2 years employment.
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Minimum Annual Income: Rs 100000 net annual income.
Telephone: Must at residence.
Documents required:
Proof of Identity:- Passport copy, PAN Card, Voters Id car, driving license( Laminated,
Recent, Legible).
Income Proof:- Latest salary slip with form 16.
Address Proof:- Ration card/Driving license/Voters card/passport copy/telephone bill/
electricity bill/Life insurance policy PAN Card.
Bank Statement:- Not mandatory
Self Employed
Eligibility Criteria:
Documents required:
Proof of Identity:- Passport copy, PAN Card, Voters Id car, driving licence (Laminated,
Recent, Legible).
Income Proof:- Latest ITR
Address Proof:- Ration card/Driving licence/Voters card/passport copy/telephone bill/
electricity bill/Life insurance policy PAN Card.
Bank Statement:- Waived for small cars, for mid - sized and premium cars if incomee
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greater than Rs. 1.5 lacs then bank statement requirement can be waived.
Partnership Firms
Eligibility Criteria:
Minimum Income: Net profit Rs. 60000 p.a for standard cars and Rs.100000 p.a. for mid-
sized and premium cars.
Minimum turnover: Turnover Rs. 4.5 lacs.
Telephone: One phone at least at business and at residence of the loan executing partner.
Documents required:
Proof of Identity:- NA
Income Proof:- Audited balance sheet, Profit & Loss Account for latest two years and the
latest 2 years IT returns of the company.
Address Proof:- Telephone Bill/Electricity Bill/Shop & Establishment Act certificate/SSI
registered certificate/Sales Tax certificate.
Bank Statement:- Waived for small cars, for mid - sized and premium cars if income Is
greater than Rs 1.5 lacs then bank statement requirement can be waived.
Eligibility Criteria:
Minimum Income: Net profit Rs. 60000 p.a for standard cars and Rs.100000 p a for mid-
sized and premium cars.
Minimum turnover: Turnover Rs 4.5 lacs.
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Telephone: One phone at least at business premises.
Documents required:
Proof of Identity:- NA
Income Proof:- Audited balance sheet, Profit & Loss Account for latest two years and thee
latest 2 years IT returns of the company.
Address Proof:- Telephone Bill/Electricity Bill/Shop & Establishment Act certificate/SSI
registered certificate/Sales Tax certificate.
Bank Statement:- NA
Eligibility Criteria:
Minimum Income: Net profit Rs. 60000 p.a for standard cars and Rs.100000 p a for mid-
sized and premium cars.
Minimum turnover: Turnover Rs 4.5 lacs.
Telephone: One phone at least at business premises.
Documents required:
Proof of Identity:- NA
Income Proof:- Audited balance sheet, Profit & Loss Account for latest two years.
Address Proof:- Telephone Bill/Electricity Bill/Shop & Establishment Act certificate/SSI
registered certificate/Sales Tax certificate.
Bank Statement:- NA
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NRI Loans:
NRIs can avail of new car loans from HDFC Bank for the use of the vehicles by their relatives in
India. Additional documents required are as follows :
Contract copy and salary slip of NRI.
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Approval Plan:
If you have an HDFC Bank Preferred Account or a Corporate Salary Account with HDFC Bank
for more than six months, you can get fast approvals on your loans with minimal documentation
Ex-Showroom
Funding % Examples
segment Value (In lac)
A:Mini <=2.15 80-100 Maruti 800
Alto, Swift, Indica, Santro, Getz,
B:Compact 2.2-4.5 90-100
Estillo, A-Star, Palio, i10
i20, Accent, Swift ,Dzire, Honda
City, Honda Jazz, Verna, SX4,
C:Mid-Size 4.5-10.0 75-100
Linea, Ikon, Fusion, Optra, Fabia,
Indigo
Toyota Corolla, Civic, Skoda
D:Executive 9.5-16.0 75-95 Ocatvia, Hyundai Elantra, Optra
Magnum
Honda Accord, Camry, Hyundai
D+:Premium 16.0-25.0 75-90 Sonata, Skoda Laura, Superb,
Passat, Jetta, Teana, Fiat 500
Mercedes, BMW, Audi, Porche and
D+: Luxury 25.0+ 75-85
all other imported
Omni, Innova, Xylo, Scorpio,
MUV 2.20+ 75-90
Tavera, Bolero, Victa, Safari
CR-V, Endeavour, Pajero, Montero,
SUV 14.0+ 75-85 X-Trail, Prado, Tucson, Captiva,
Grand Vitara, Mitsubishi Outlander
Funding range is indicative. Pre-approved customers could get up to 100% ex-showroom
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funding in segments A-D.
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Who can avail of HDFC Bank New Car Loans?
We offer New Car Loans to the following:
Salaried individuals in the age group of 21 to 60 years (at the end of the tenure)
Self-employed individuals in the age group of 21 to 65 years (at the end of the tenure)
Partnership Firms
Public & Private Ltd. companies
HUFs and Trusts
If I don't have an account with HDFC Bank, can I still avail of loans?
Of course, you can get HDFC Bank Car Loans. You need not necessarily have an account with us.
Do I need a guarantor?
Generally no. But if your income does not meet our credit criteria, then you may be required to
have a guarantor to stand surety for your loan.
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