Car Loan Rates & Fees
Car Loan
Apply NowEnclosed below are HDFC Bank New Car Loans Interest Rates & Charges
Description of charges | New Car Loans |
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Documentation Charges* | Rs.700/- Charges NOT to be refunded in case of case cancellation. |
Foreclosure charges* | No foreclosure allowed within 6 months from date of availing the car loan |
6% of Principal Outstanding for preclosures within 1 year from 7th EMI | |
5% of Principal Outstanding for preclosures within 13-24 months from 1st EMI | |
3% of Principal Outstanding for preclosures post 24 months from 1st EMI | |
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 twice only during loan tenure. Part payment is allowed only once a year. At any point of time, part payment will not increase beyond 25% of Principal Outstanding. | |
5% on the part payment amount in case part prepayment is within 13-24 months from 1st EMI | |
3% on the part payment amount in case part prepayment is post 24 months from 1st EMI | |
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. |
Cheque/ ECSswapping charges | Rs 500/- 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 and Documentation Charges 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/- Instance |
Loan Reschedulement charges/ rebooking charges | Rs. 1000/- will be charged. If changes are required on RC, refundable Security Deposit – non-interest bearing of Rs. 5000 would be required. It will be the borrower's responsibility to provide the transferred Registration Certificate to the bank. |
LPG/ CNG NOC/ Other Special NOC | Rs 500/- Instance |
CIBIL Charges (only on request) | Rs. 50/- |
Cheque/ SI / ECSReturn Charges* | Rs. 550/- per instance |
Amortisation Schedule Charges | Customer can download the schedule from E-Delight free of cost. Rs. 200/- per schedule would be charged at customer service desk. |
Commercial / Personal Use NOC (conversion subject to credit approval) | Rs. 2250/- per NOC |
Collateral Charges* | Rs.600/- To be refunded in case of case cancellation. |
Rack interest rate | 8.80% to 10% depending on the segment of vehicle |
Inter State NOC
Refundable Security Deposit (non-interest bearing) of Rs. 5000 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 any 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 July' 21 to September' 21
Bank IRR |
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Product | Min IRR | Max IRR | Avg IRR |
AUTO LOAN | 6.95% | 10.35% | 7.75% |
Annual Percentage Rate offered to customer during the period of July' 21 to September' 21
APR |
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Product | Min APR | Max APR | Avg APR |
AUTO LOAN | 6.95% | 10.35% | 7.75% |
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 standard grid.
**Collateral charges / PDD Collection charges are refundable in case of loan cancellation.
Car Loan Benefits
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Upto 100% Finance
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Quick Disbursals
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Pocket-friendly - monthly payments
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Health cover