Car Loan

The Housing Development Finance Corporation Limited (HDFC) was founded in the year 1994 and is headquartered at Mumbai, Maharashtra.

It is the largest bank in India in terms of market capitalization and the second largest private bank in India by measure of its assets.

HDFC was amongst the first to get 'in principle' approval from the Reserve Bank of India (RBI) for establishing a bank in the private sector, under RBI's liberalization of the Indian Banking Industry in 1994.

The HDFC Bank is one of the leading banking organizations of the country trusted by a wide range of customers across the country. HDFC Bank offers a wide range of banking services having three key business segments- wholesale banking, treasury and retail banking. As on December 31, 2015, HDFC Bank has 4,281 branches across 2,505 cities in India and a network of 11,843 ATMs across the country. The Bank also has presence in foreign countries, including Bahrain, Hong Kong and Dubai. The bank offers facilities of phone banking, mobile banking, net banking, and SMS based banking. The subsidiaries of the Bank include, HDB Financial Services Limited (HDBFS) which is into retail asset financing and HDFC Securities Limited (HSL) which is into stock broking.

Car loans provided by HDFC Bank are amongst the best car loans in India. The bank offers car loan for both new and pre-owned cars. Due to its tie-up with different authorized car dealers across India,HDFC provides car finance plans for a wide range of cars.

HDFC Car Loan Interest Rates and Fees*

Loan Feature Rates
Interest Rate 9.35% onwards
Processing Fee Lower of Rs. 10,000 or 0.4% of car loan sanctioned
Foreclosure Charges 3% to 6% depending on loan tenure (no foreclosure for loans disbursed <6 months ago)
Documentation Fees Rs. 600 each time
Penalty for Late Payment 2% each month
Financing Quantum up to 100% depending on customer profile

HDFC Car Loan

HDFC offers Car finance plans for both used and new cars at competitive interest rates. The main features of HDFC Bank car loan include, simple documentation, finance of up to 100% of the cars on-road price or cost, quicker loan processing and approval. Apply for a HDFC car loan and make use of its doorstep service facility.

HDFC Bank car loan caters to diverse customer requirements by offering flexible finance options. HDFC car loans are trusted by many satisfied customers across the country for the following benefits attached to the loan: