Car Loan FAQs

Post Dated Cheques(PDCs)/Security Cheques submitted towards loan repayment that have not been encashed, will be defaced and retained by the Bank.

In case, you wish to have your old Post Dated Cheques(PDCs)/ Security Cheques to be returned to you, kindly lodge a request at the Retail Loan Service Center or through PhoneBanking or write us an email at www.hdfcbank.com/services within 45 days from the date of application of change in repayment instructions.

In case, we do not hear from you within the stipulated period, the defaced cheques will be destroyed.

Yes. You can pre-pay the loan any time after 6 months of availing of the loan. You just have to pay a small pre-payment fee on the outstanding loan amount.

No, but if your income does not meet our credit criteria then you may be required to have a Gurantor/co-applicant. To stand surety for your loan.

You can borrow up to 3 times your annual salary if you are a salaried professional and 6 times your annual income if you are a self-employed professional **.
**Offers on specific models .Terms & conditions apply.

The choice is yours. You can choose any repayment option from 12 to 84 months all specially designed to suit your requirements.

HDFC Bank strives to make your loan application process a seamless process. You can apply for your Car Loan through our Online Banking services via HDFC Bank NetBanking. What’s more is, if you’re an existing customer, you may be eligible to avail of a Pre-Approved Car Loan in 10 seconds! Log in to your NetBanking and find out more
Alternatively, you can visit the nearest branch of HDFC Bank. However, applying online via HDFC Bank NetBanking is faster and saves resources

A critical factor in getting a loan approved fast is determining how much EMI you are comfortable paying. Use our Car Loan EMI calculator to estimate how much you will need to set aside. You can also check you your eligibility online before you begin the application process. These two steps will enable you to plan and prepare for the Car Loan application process.
To make sure your Car Loan is approved faster; the key is to provide all the necessary documents and complete your Know your Customer (KYC) formalities. Online Car Loans applications are processed quicker, too. If you’re an existing HDFC Bank customer, you may be eligible to avail of a Pre-Approved Car Loan in 10 seconds. Log in to your NetBanking and find out more.

Yes, HDFC Bank offers up to 100% on-road funding for select models of cars. You can get a Car Loan up to Rs 3 crore

At HDFC Bank, we haven’t specified a minimum Credit Score for getting a Car Loan. However, a lower Credit Score may lead to the approval of lower loan amounts. Make sure your Credit Score is more than 750, which is generally considered excellent

With HDFC Bank, you can avail a Zero Down Payment Car Loan. This means that on select cars and SUVs, the bank gives you a up to 100% finance on your Car Loan. It also means that you need not pay anything towards the down payment. With an HDFC Bank Car Loan, walk into the nearest dealership and drive out with a new car

HDFC Bank offers flexible tenures on their Car Loan products. The minimum and maximum tenure are from 12 months to 84 months. Click here to view tenures for Custom-Fit and Balloon EMI Car Loans.

Here’s a summary of documents you will need for a Car Loan:

• Valid Identity Proof (PAN Card/Aadhar Card/Passport/Voter ID)
• Address Proof (Utility Bills/Aadhar Card/Driving License/Passport etc.)
• Income Proofs (Current Salary Slips/Latest Form 16/Current ITR)
• Current Bank Statements (Last 6 Months)

Here’s a detailed list of documents required for car loan

If you are an existing HDFC Bank customer, it is possible to share your Car Loan documents to the bank via e-mail. You can request the Sales Manager at the dealership to pick up the required documents at your convenience. Once HDFC Bank receives these, the bank will proceed with a physical approval, digital disbursal (PADD) process. The bank will send you an e-Mandate form as consent for deducting EMIs from your HDFC Bank account. You will be also required to submit additional documents as required by credit underwriting