Car Loan Rates & Fees

Car Loan

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Enclosed below are HDFC Bank New Car Loans Interest Rates & Charges

Description of charges New Car Loans
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
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
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.

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Car Loan Benefits

  • Upto 100% Finance

  • Quick Disbursals

  • Pocket-friendly - monthly payments

  • Health cover