Car Loan Rates & Fees
Car Loan
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The comfort of your own car provides a feeling of safety and security, especially during daily commutes. With affordable Car Loan interest rates, owning a vehicle is more accessible than ever. Begin your journey towards car ownership today and enjoy the peace of mind that comes with it.
HDFC Bank Car Loan interest rates and charges
Vehicle Loan interest rates are quite affordable when you borrow from HDFC Bank. Here are HDFC Bank's new car interest rates and charges:
| Description of charges | New Car Loans |
| Documentation charges* | ₹650 per case (charges NOT to be refunded in case of case cancellation.) |
| Premature closure charges (for full payment)* |
If you own a micro or small enterprise and have availed a fixed rate loan facility up to ₹50 lakhs, you will not be charged any premature closure fees if you make a full payment from your own source. |
| Premature closure charges (for part payment)* | During the loan tenure, part payment will be allowed twice only. In a year, only one part payment is allowed. You can make a part payment at any time, but it cannot exceed 25% of the outstanding principal amount. If the part prepayment is within 24 months from the first EMI, a charge of 5% will be levied on the part payment amount. If the part prepayment is post 24 months from the first EMI, a charge of 3% will be levied on the part payment amount. If you own a micro or small enterprise and have availed a fixed rate loan facility up to ₹50 lakhs, you will not be charged any premature closure charges if you make a part payment from your own source. |
| Stamp duty & Other Statutory Charges(non-refundable) | As per actuals which are applicable in laws of the state. (Including RTO charges). |
| Delayed instalment payment charge | 18% p.a. (1.5% per month), plus applicable government taxes on overdue instalment amount. |
| Processing fees* (non-refundable) | Upto 1% of Loan Amount subject to minimum of Rs. 3500/- and maximum of Rs. 9000/-
For loan facilities up to ₹5 lakhs availed by micro and small enterprises subject to URC submission before disbursal, no processing fees will be charged. |
| Repayment Mode changes charges | ₹500 per instance |
| Loan cancellation Charges | NIL cancellation charges.
(However, interest charges from date of disbursement till the date of cancellation of loan will be borne by the customer. Processing fee Stamp duty and documentation Charges are non-refundable charges and would not be waived / refunded in case of loan cancellation.) |
| Legal, repossession and incidental charges | At actuals |
| Duplicate no due certificate / NOC | ₹250 per instance |
| Loan re-schedulement charges / rebooking charges | ₹400 (To make changes on RC, you will need to pay a refundable security deposit of ₹5,000. This deposit is non-interest bearing and will be repaid once you provide the transferred Registration Certificate to the bank.) |
| LPG / CNG NOC / other special NOC | ₹200 per NOC |
| CIBIL charges (only on request) | ₹50 |
| Payment return charges* | ₹450 per instance |
| Amortisation schedule charges / Repayment schedule charges | Rs 50/ per schedule for physical copy.
Customer can also download the schedule from the link free of cost |
| Commercial / personal use NOC (conversion subject to credit approval) | ₹200 per NOC |
| Registration Certificate (RC) Collection Fees | ₹600/ (to be refunded in case of cancellation) |
| Rack interest rate | 9.40% onwards depending on loan amount, tenure & CIBIL score |
| RTO transfer charges | At actuals |
The bank will charge a Refundable Security Deposit (non-interest bearing) of ₹5,000 from you. You must provide the transferred Registration Certificate to the bank along with a NOC charge of ₹500.
Points to remember
You are advised not to engage in any cash transactions with the bank’s direct sales associates. You should also avoid making any payments in cash, bearer cheque, or any kind in connection with your loan to the executive handling the loan application.
Apply for an HDFC Bank Car Loan today!
Note: *Premature closure charges (Full/ Part Payment), processing fees, documentation charges, payment return charges and registration certificate collection fees are exclusive of government taxes. Government taxes and other levies (as applicable) would be charged additionally. All promotional offers will be null and void in case of third-party payments towards foreclosure and shall attract charges as per the standard grid.
**Registratoin Certificate Collection fees is refundable in case of loan cancellation
Rates offered to customer during the period of April'24 to June'24
APR |
|||
| Product | Min IRR | Max IRR | Avg IRR |
| AUTO LOAN | 8.50% | 11.80% | 9.45% |
Annual Percentage Rate offered to customer during the period of April'24 to June'24
APR |
|||
| Product | Min APR | Max APR | Avg APR |
| AUTO LOAN | 8.50% | 11.80% | 9.45% |
Note: *Foreclosure, part-payment, processing fees, documentation charges, cheque / SI / ECS return and collateral charges are exclusive of government taxes. Government taxes and other levies (as applicable) would be charged additionally. All promotional offers will be null and void in case of third-party payments towards foreclosure and shall attract charges as per the standard grid.
**Collateral charges / PDD collection charges are refundable in case of loan cancellation