Car Loan FAQs
Car Loan
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Millions of Indians today are upwardly mobile, and on the move. Many are looking at having their own car to reach their destination on time and with comfort. Now, the years of waiting and saving are over. Our Xpress Car Loan will bring that dream of owning a vehicle within your reach in just a few minutes!
Features
Overview
Get Car Loan at attractive rates in just 30 minutes!
The thrill of bringing your brand-new car home is special. Car Loan has been the driver behind fulfilling the dreams of people to own cars. What if we told you that there was an easy, quick and seamless way to get your car?. HDFC Bank Xpress Car Loan is committed to making your car buying experience smoother than ever. It provides 100% financing on select vehicles, pocket-friendly EMIs, and flexible repayments
100% digital loan
HDFC Bank Xpress Car Loan is 100% digital and you can apply for it anytime, anywhere. You can instantly apply for the loan and it only takes 30 minutes with our end-to-end digital process. There is no physical verification process and you don’t need to submit any physical documents.
Quick disbursal in just 30 minutes
It does not matter where you stay, you can apply for the loan from anywhere in India. HDFC Bank Xpress Car Loan ensures that your Auto Loan is disbursed instantly to your car dealer through Ne;tBanking.
You can avail of this facility with the following simple steps:
Log into your HDFC Bank NetBanking account —> go to the Borrow tab —> Click on the New Car Loan.
High loan amount
With HDFC Bank Car Loans, you can get an Auto Loan of up to ₹25 lakhs on a wide range of cars and multi-utility vehicles. You can enjoy up to 100% on-road finance on your New Car Loan.
You can apply for Top-Up Loans for extra financing. HDFC Bank's existing Car Loan customers can avail of the Top-Up Loan facility without any extra documentation.
Flexible repayments
HDFC Bank Xpress Car Loan comes with flexible repayment tenures tailored to your needs at the most affordable Car Loan rates. You get to select the repayment tenure from 12 to 84 months along with quick and easy processing and approval.
3,000+ car dealers
HDFC Bank has created a vast network of dealers to ensure hassle-free loan processing. As the name suggests, the Xpress Car Loan supports 3,000+ car dealers and all HDFC Bank branches across India. This allows the bank to process your New Car Loan application in just 30 minutes while you enjoy quick and transparent loan application and processing.
Preferred pricing
Are you an existing HDFC Bank customer? Well, you can enjoy the privilege of preferred pricing. HDFC Bank allows its existing customers to benefit from the unique schemes designed exclusively for them. Now, you can avail of a loan instantly without any documentation.
Insurance
While you enjoy your ride, the bank has got you covered with its insurance facility. HDFC Bank offers a comprehensively packaged insurance product that offers you protection against uncertainties like accidental death, permanent total disability as well as accidental hospitalisation.
New Car Loan FAQs
What is the HDFC Bank Xpress Car Loan application process?
HDFC Bank offers a seamless and convenient Auto Loan application process. You can apply for your Car Loan through HDFC Bank NetBanking services. Also, if you are an existing HDFC Bank customer, you may be eligible to get a pre-approved Car Loan in just 10 seconds. For more information, you can log into your HDFC Bank NetBanking account.
How to get your Car Loan approved faster?
Before you apply for car finance, it is important to determine how much EMI you are comfortable paying. To know about the EMI you might have to pay, you can use the HDFC Bank Car Loan EMI Calculator.
You should check your Car Loan eligibility before applying. Both of these steps will allow you to prepare for your Car Loan application process.
- Here are some tips to get your Car Loan approved faster:
- Get your Know Your Customer (KYC) details handy.
- If you apply for a Car Loan online, it can get processed and approved faster.
- Being an existing HDFC Bank customer makes you eligible for a pre-approved Car
Loan that you can get in just 10 seconds.
Can I get 100% funding to buy a car?
Yes. HDFC Bank offers you up to 100% on-road funding for selected models of cars.
What is the minimum credit score I need to get a Car Loan?
There’s no specified minimum credit score for getting a Car Loan from HDFC Bank. But a lower credit score can reduce the loan amount you can get. A credit score above 750 is considered excellent for loans. This will allow you to get a higher loan amount at the most affordable Car Loan rates.
How much down payment do I need to make to buy a car?
HDFC Bank allows you to avail of zero-downpayment Car Loans. For select cars, the bank provides 100% financing of the on-road price of your car. This eliminates the burden of a downpayment.
What are the minimum and maximum tenures for Car Loans?
HDFC Bank offers flexible tenure for Car Loan products. While the minimum tenure is 12 months, the maximum loan tenure you can avail of is up to 8 years for EVs. View tenures for Custom-Fit and Balloon EMI Car Loans here
Is it possible to submit the Car Loan documents online?
Existing HDFC Bank Car Loan customers can share their Car Loan documents online through email. You can also request the Sales Manager of your car dealership to pick up the required documents at your convenience. Once the bank receives them, it will proceed with the Physical Approval, Digital Disbursal (PADD) process. You will receive an e-mandate form as consent for deducting EMIs from your HDFC Bank account.
How to check the status of our New Car Loan?
You can check the status of your New Car Loan by using the HDFC Bank loan status checker.