Pre-Owned Car Loan Fees & Charges

The HDFC Bank Pre-Owned Car Loan Rates & Fees are as follows:

Description of Charges Amount to be Paid
Foreclosure charges*
  • No foreclosure allowed within 6 months from date of availing the loan
  • 6% of Principal Outstanding for pre-closures within 1 year from 7th EMI
  • 5% of Principal Outstanding for pre-closures within 13-24 months from 1st EMI
  • 3% of Principal Outstanding for pre-closures post 24 months from 1st EMI
  • NIL Foreclosure Charges for Fixed rate loan facility up to Rs. 50 Lakh availed by Micro & Small Enterprises and Closure from Own Source
Part-payment charges*
  • Part-payment is allowed subject to completion of 12 months (i.e., post payment of 12 EMIs)
  • Part-payment will be allowed only twice during the loan tenure, and is allowed only once per year. At any point of time, part-payment will not increase beyond 25% of Principal Outstanding
  • 5% of the part-payment amount in case part prepayment in within 13-24 months from 1st EMI
  • 3% on the part-payment amount in case part prepayment is post 24 months from 1st EMI
  • NIL Prepayment Charges for Fixed rate loan facility up to Rs. 50 Lakh availed by Micro & Small Enterprises.
Stamp Duty (non-refundable) At actuals
Overdue EMI Interest 2% per month
Processing fees* (non-refundable)

0.5% of Loan Amount subject to minimum of Rs.3500/- and maximum of Rs.8000/-

In addition Processing Fee on loans for:
Manufacturer backed Accessory Funding, Maintenance Package Funding, Manufacturer backed CNG Kits Funding, Asset Protection measure Funding – Rs.3000.

NIL Processing Fees for loan facility up to Rs. 5 Lakh availed by Micro & Small Enterprises subject to URC submission prior to disbursal
Documentation Charges* Rs.650/- ChargesNOT to be refunded in case of case cancellation.
Collateral Charges* Rs.500/- To be refunded in case of case cancellation.
RTO Transfer Charges At Actuals
Cheque/ECS swapping charges Rs. 500/- per instance
Loan cancellation In the event of cancellation, interest charges from date of disbursement till the date of cancellation of loan will be borne by the customer. Processing Fee ,Stamp Duty, Documentation, Valuation and RTO charges (Used Car Purchase/Refinance) are non-refundable charges and would not be waived/refunded in case of loan cancellation
Legal, repossession & incidental charges At actuals
Duplicate No Due Certificate/NOC Rs. 500/- per instance
Loan reschedulement charges/rebooking charges

Rs. 500/-

(If changes are required on RC, then refundable Security Deposit – non-interest bearing of Rs. 5000 would be required.  Will repay post borrowers provide the transferred Registration Certificate to the bank)
LPG/CNG NOC/Other Special NOC Rs. 250/- per NOC
CIBIL Charges (only on request) Rs. 50/-
Cheque/SI/ECS Return Charges*


1st return at Rs.450 + taxes per instance, 2nd in a month Rs.500 + taxes per instance & 3rd onwards Rs.550 + taxes per instance (10% discount for Senior Citizens)
Amortisation Schedule Charges Customer can download the schedule from E-Delight free of cost 
Rs. 50/- per schedule would be charged at the customer service desk
Commercial/Personal Use NOC (conversion subject to credit approval) Rs. 2,250/- per NOC
Rack interest rate 13.75% p.a. onwards
Car Valuation /Asset Verification Charges* Rs. 500 per case

Inter-State NOC
Refundable Security Deposit (non-interest bearing) of Rs. 5,000 will be taken. It will be the borrower's responsibility to provide the transferred Registration Certificate to the bank. In addition, NOC charge would be Rs. 500/-.
It is also advised that the customers should refrain from and dealings in cash with the Bank's Direct Sales associates. Borrowers should also not make any payments in cash/bearer cheque or kind in connection with the loan, to the executive, dealing with the borrower for purpose of the loan.

Rates offered to customer during the period of  April '22 to June'22


Bank IRR
Product Min IRR Max IRR Avg IRR
USED CAR LOAN AND LOAN AGAINST CAR 7.25% 15.00% 12.63%


Annual Percentage Rate offered to customer during the period of April '22 to June'22


APR
Product Min APR Max APR Avg APR
USED CAR LOAN AND LOAN AGAINST CAR 7.25% 15.05% 12.63%


Note: * Foreclosure, Part-Payment, Processing fees, Valuation, Documentaion, Collateral charges and Cheque/SI/ECS Return 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 standard grid. 

**Collateral charges / PDD Collection charges are refundable in case of loan cancellation.

Features Eligibility Criteria Documentation