Car Loan - Features

Custom-fit Car Loans: Perfect way to get your perfect car the way you want it

Flexible Repayment option: Step Up EMI/ Balloon EMI

• Step-up EMI

  Thinking of buying a car the way you want it? Then HDFC Bank’s Step-up EMI plan may be just the solution you need.
  
  A step-up plan allows you to start repayment of your Car Loan in affordable EMIs and gradually increase the EMI amount over the tenure.
  
  Step-up EMI schemes are based on the assumption that an individual’s income grows over time and a car that may seem unaffordable now could be affordable next year. Step-up EMI enables you to take a higher loan amount at lower EMIs so that you can choose a bigger car as per your choice.
  
  How does Step-up EMI work for you?

  Here’s a simple illustration to show how our step-up repayment schemes work.
  Normal EMI on Rs. 1 Lakh Car Loan: Rs. 1609
  Initial EMI in a Step-up Loan: Rs. 1239 (almost 24% cheaper)
  Only after the third year, does the EMI in a Step-up plan crosses the Rs 1609 mark
  
  

  यह बड़ा महत्त्वपूर्ण त्यौहार है । यह फास्युन मास की पूर्णिमा को मनाया जाता है, जो अधिकतर मार्च के महीने में पड़ता है । इस दिन वसन्त प्रारम्भ होती है । यह त्यौहारों शूद्रों का त्यौहार कहलाता है, लेकिन सभी जाति के हिन्दू इसे बड़े उत्साह से मनाते हैं । सारे देश मैं इस त्यौहार को मनाने के लिए बडी तैयारियाँ की जाती हैं । क्यों मनाया जाता है ? होली के त्यौहार का संबंध भक्त प्रहलाद की कथा से जोड़ा जाता है । वे ईश्वर के सच्चे भक्त थे । उनके पिता हिरण्याकश्यप एक राक्षस थे । उन्होंने प्रहलाद को ईश्वर-भक्ति छोड़ने के लिए तरह-तरह से डराया-धमकाया । जब वे नहीं माने, तो उन्हें उसे जान से मार देने -के कई प्रयास किए गए, लेकिन सफलता नहीं मिली । जब वे प्रहलाद को मारने मे किसी प्रकार सफल नहीं हुए, तो उन्होंने होलिका नाम की अपनी बहिन को आदेश दिया की वह प्रइलाद को जिन्दा जला दें । होलिका के पास एक मणि थी और उसे वरदान प्राप्त था कि जब तक उसके पास यह मणि रहेगी, किसी तरह की आग उसका कुछ न बिगाड़ सकेगी । होलिका ने बहाने से प्रहलाद को अपनी गोद में लिया और लकड़ियों के एक विशाल ढेर पर बैठ गई । ढेर में आग लगा दी गई । लेकिन दैव योग से वह मणि होलिका की गोद से छिटक कर प्रहलाद की गोद में आ गिरी । फलस्वरूप होलिका तो उस आग मे जलकर भस्म हो गई और प्रहलाद का बाल-बाका भी नहीं हुआ । इसी याद मे हर वर्ष जगह-जगह होली जलाई जाती है । ब्रज क्षेत्र में होली का संबंध भगवान् कृष्ण की लीलाओं से लगाया जाता है । कैसे मनाया जाता है? सड़कों और चौराहों पर जगह-जगह लकड़ी, उपलों और ईंधन के बड़े-बड़े ढ़ेर जमा कर दिए जाते हैं । इसे होली कहा जाता है । स्त्रियों दिन में इस होली की पूजा करती हैं । वे इसके चारों ओर कच्चे सूत को लपेटकर इसको परिक्रमा करती हैं । रात को एक निश्चित समय पर इसमें आग लगा दी जाती है । होली की लपटों में गन्ने हरे चने के दाने और जी की बालियाँ भूनी जाती है । जलती होली के चारो ओर बड़े-बड़े ढोल-ताशे और नगाडे बजाये जाते है । घर लाकर भूने हुए गन्ने और अनाज के दाने लोगों को खाने के लिए दिए जाते हैं । हर हिन्दू के घर में भाँति-भाँति की मिठाई नमकीन और पकवान बनाए जाते हैं । सभी मिलकर इन्हे बड़े चाव से खाते हैं । इस दिन नए कपड़े पहने जाते है ।

  Step-up EMI Calculation
  EMI From (in months)	% Increase in EMI	EMI (Rs.)
  1-12	0	1,239
  13-24	11%	1,375
  25-36	11%	1,527
  37-48	11%	1,695
  49-60	11%	1,881
  61-72	11%	2,088
  73-84	11%	2,318

  
  So do not postpone the joy of owning the car of your dreams. Just choose a step-up EMI plan with Custom-fit Car Loans.

• Balloon EMI

  Now bring home bigger car without the hassles of a bigger EMI, the way you like it, with our HDFC Bank’s Custom-fit Car Loans. With Balloon EMI scheme you can get a loan of up to Rs. 50 lakh at highly affordable EMIs.

  
  What is the balloon EMI scheme?
  Choose balloon EMI scheme where you can pay lower EMIs throughout the tenure and a larger lump sum amount at the end of the term. It allows you to own a bigger car at the cost of a smaller car EMI the way you want to have it.
  
  The example below will give you a clear picture of how HDFC Bank’s Balloon EMI scheme works for you. The EMI till the 59th month in the balloon scheme is 30% lower than the regular scheme. In the 60th month, you must pay 40% of the loan amount as balloon.
  
  You can get a loan of up to Rs. 20 Lakh to Rs. 50 Lakh under the Balloon scheme.

  
  
  

  For 60 months	Balloon EMI	Normal EMI
  Loan amount (Rs.)	2,000,000	2,000,000
  Rate of interest	9.50%	9.50%
  EMI (Rs.)	31954	42004
  EMI difference		31%

  
  

  
  How can you benefit from the balloon EMI scheme?
  Like many car owners, you too may wish to upgrade your car after a few years. In such a case, you can settle the lump sum amount with the proceeds from the sale of your existing car, and upgrade to a better car with a new loan.

  • Zero foreclosure chargesForeclosure charges are to be paid when a loan is closed before the tenure is completed. The bank will levy a certain percentage on outstanding loan amount as the penalty for fore closing the loans. This rate varies from bank to bank. Foreclosure chargesForeclosure charges are to be paid when a loan is closed before the tenure is completed. The bank will levy a certain percentage on outstanding loan amount as the penalty for fore closing the loans. This rate varies from bank to bank. are to be paid when a loan is closed before the tenure is completed. The bank will levy a certain percentage on outstanding loan amount as the penalty for fore closing the loans. This rate varies from bank to bank. after 36 months of repayment
  • b) Exclusive insurance benefits through Suraksha Kawach:
    -Rs 1 lakh accidental hospitalization
    -Rs 5 lakh permanent total disability cover
    -Rs 5 lakh personal accident death cover
  • Cash top-up loan after 9 months for any needs
  
  
  

  
  a) Zero Foreclosure ChargesEnjoy a range of features and benefits on car loans. A prepayment or foreclosure is the early repayment of full or part of a loan by a borrower. When you settle a loan before its tenure ends, you are foreclosing it.
  A prepayment or foreclosure is the early repayment of full or part of a loan by a borrower.When you settle a loan before its tenure ends, you are foreclosing it.
  
  b) Suraksha Kawach
  Suraksha Kawach is a comprehensive insurance product which offers protection to individuals against Permanent Total Disability, Accidental Death and Accidental Hospitalization.
  
  c) A top-up loan is an additional amount above your existing loan that you can get if you have a good repayment record. It’s similar to a loan against your car.

• Loan Amount

  Get loans up to Rs.3 crore on a wide range of cars and multi-utility vehicles
  
  Enjoy 100% finance** on-road finance on your New Car Loan

• Top Up Loans

  Existing car loan customers can get a top-up loan with no documentation

• Flexible Repayment Tenure

  Flexible repayment tenures from 12 months to 84 months

• Quick and easy Processing and Approval

  Check your New Car Loan eligibility online or at select branches in just 60 seconds
  
  Enjoy transparent, quick and easy documentation process
  
  Get a New Car loan approval in just 10 minutes
  (Loan processing and disbursement will take at least 7 working days post submission of all required documents and information required by the bank)

• Preferred Pricing for HDFC Bank customers

  Existing HDFC bank customers can enjoy preferential pricing with unique schemes designed just for them and can also avail loan in 10 seconds with minimal documentation.

• Funding on Insurance

  We offer funding for comprehensive package insurance product which offers protection to individuals like Permanent Total Disability, Accidental Death and accidental hospitalization etc.

• Buying assistance

  Compare, research and read reviews on new cars on HDFC Bank’s New Car Bazaar/ Autopedia Mobile App
  
  Search for cars by Brand, Price and EMI
  
  Test drive assistance available on a wide range of cars for enabling to choose the right car for your needs.
  
  Download the Autopedia mobile app for research, latest news and apply for car loan.
  
  **Offers on specific models. Terms & conditions apply.