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HDFC Bank's car loans cover the widest possible range of cars and multi-utility vehicles in India.

Cars India : Loans : HDFC Bank Car Loans

HDFC Bank Car Loans

The Housing Development and Finance Corporation (HDFC) Bank's Car Loan Scheme is very convenient and offers a host of advantages. These include speedy processing, flexible repayment options, hassle-free documentation, and attractive interest rates. HDFC car loans cover the widest possible range of cars and multi-utility vehicles in India.

Eligibility

Particulars	Salaried Individual	Self-Employed Individual	Partnership Firm	Private Limited Company	Public Limited Company
Age	The applicant should be at least 21 years old at the time of application, and below 60 years of age at the time of maturity of the loan	The applicant should be at least 21 years old at the time of application, and below 65 years of age at the time of maturity of the loan	-	-	-
Minimum Employment	At least 1 year in current employment and minimum 2 years of employment	At least 3 years in business	-	-	-
Annual Income / Turnover	Rs 100000 net annual income	Net profit must be at least Rs. 60000 p.a for standard cars and Rs.100000 p a for mid-sized and premium cars.	Net profit must be at least Rs. 60000 p.a for standard cars and Rs.100000 p a for mid-sized and premium cars. Turnover should be at least 4.5 lacs.	Net profit must be at least Rs. 60000 p.a for standard cars and Rs.100000 p.a. for mid-sized and premium cars. Turnover should be at least 4.5 lacs.	Net profit must be at least Rs. 60000 p.a for standard cars and Rs.100000 p.a. for mid-sized and premium cars. Turnover should be at least 4.5 lacs.
Telephone	Must at residence	Must at residence	One phone at least at business and at residence of the loan executing partner	One phone at least at business premises	One phone at least at business premises

Documentation Required

Salaried Individual	Self-Employed Individual	Partnership Firm	Private Limited Company	Public Limited Company
Proof of Identity: Passport copy, PAN Card, Voters Id car, driving licence( Laminated, Recent , Legible)	Proof of Identity: Passport copy, PAN Card, Voters Id car, driving licence( Laminated, Recent , Legible)	Proof of Identity: NA	Proof of Identity: NA	Proof of Identity: NA
Income Proof: Latest salary slip with form 16	Income Proof: Latest ITR	Income Proof: Audited balance sheet, Profit & loss Account for the last 2 years and IT returns of the company for the last 2 years	Income Proof: Audited balance sheet, Profit & loss Account for the last 2 years and IT returns of the company for the last 2 years	Income Proof: Audited balance sheet, Profit & loss Account for the last 2 years
Address Proof: Ration card / Driving licence / Voters card/passport copy/telephone bill/ electricity bill/Life insurance policy PAN Card.	Address Proof: Ration card/Driving licence/Voters card/passport copy/telephone bill/ electricity bill/Life insurance policy PAN Card.	Address Proof: Telephone Bill / Electricity Bill/Shop & Establishment Act certificate/SSI registered certificate/Sales Tax certificate	Address Proof: Telephone Bill/Electricity Bill/Shop & Establishment Act certificate/SSI registered certificate/Sales Tax certificate	Address Proof:- Telephone Bill/Electricity Bill/Shop & Establishment Act certificate/SSI registered certificate/Sales Tax certificate
Bank Statement: Not mandatory	Bank Statement: Waived for small cars. For mid-sized and premium cars if income is greater than Rs 1.5 lacs then bank statement requirement can be waived.	Bank Statement: Waived for small cars. For mid-sized and premium cars if income is greater than Rs 1.5 lacs then bank statement requirement can be waived.	Bank Statement: NA.	Bank Statement: NA

New Car Loans
HDFC Bank gives maximum loan of 90% of the invoice value on new cars. The minimum loan amount is Rs 50000. The loan tenure varies from 12 to 84 months. One can pre-pay the loan any time after 6 months of availing of the loan by paying a small prepayment fee on the outstanding loan amount.

Used Car Loans
The maximum loan amount given for used cars is up to 80% of the invoice value. One can choose from loan tenure options of 12, 24, 36, 48, or 84 months.

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