Finance > Loans >Car Loans
Car loans
HDFC Bank, the market leader in Car Loans, offers you flexible schemes to suit your needs, hassle free documentation & extremely quick processing, so that you can own and drive your car in the quickest possible time. Just decide on the make & model, and our New Car Loan will bring it to your driveway in no time.
Features & Benefits
- Covers the widest range of cars and multi-utility vehicles in India.
- Avail 100% finance on your favourite car.
- Flexible repayment options, ranging from 12 to 84 months.
- Borrow up to 3 times your annual salary (for salaried professionals) and 6 times your annual income (for self employed professionals).
- Speedy processing - within 48 hours.
- Repay with easy EMIs.
- Attractive car loan plans - To Fastrack your loan, just choose the plan that is right for you.
- Attractive Interest rates
- Hassle-free documentation.
Customer Privileges
- If you are an HDFC Bank account holder, we have special rates for you.
- If you have had a Preferred Account or a Corporate Salary Account with HDFC Bank for more than six months, you can get fast approvals on your loans with minimal documentation.
- If you are an existing HDFC Bank Car Loan customer with a clear repayment of 12 months or more we can Top-Up your car loan to the extent of the original loan value.
Eligibility Criteria and ducumentation
Salaried Individuals
Eligibility Criteria:
- Minimum age of Applicant: 21 years
- Maximum age of Applicant at loan maturity: 58 years
- Minimum employment: 1 year in current employment and minimum 2 years of employment
- Minimum Annual Income: Rs 100000 net annual income
- Telephone: Must at residence
Documents required:
- Proof of Identity:- Passport copy, PAN Card, Voters Id car, driving licence( Laminated, Recent, Legible)
- Income Proof:- Latest salary slip with form 16.
- Address Proof:- Ration card/Driving licence/Voters card/passport copy/telephone bill/ electricity bill/Life insurance policy PAN Card.
- Bank Statement:- Not mandatory
Self Employed
Eligibility Criteria
- Minimum age of Applicant: 21 years
- Maximum age of Applicant at loan maturity: 65 years
- Minimum employment: Atleast 3 years in business
- Minimum Annual Income: Net profit Rs. 60000 p.a for standard cars and Rs.100000 p a for mid-sized and premium cars
- Telephone: Must at residence
Documents required:
- Proof of Identity:- Passport copy, PAN Card, Voters Id car, driving licence( Laminated, Recent, Legible)
- Income Proof:- Latest ITR
- Address Proof:- Ration card/Driving licence/Voters card/passport copy/telephone bill/ electricity bill/Life insurance policy PAN Card
- 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.
Partnership Firms
Eligibility Criteria:
- Minimum Income: Net profit Rs. 60000 p.a for standard cars and Rs.100000 p a for mid-sized and premium cars
- Minimum turnover: Turnover Rs 4.5 lacs
- Telephone: One phone at least at business and at residence of the loan executing partner
Documents required:
- Proof of Identity:- NA
- Income Proof:- Audited balance sheet, Profit & loss Account for latest two years and the latest 2 years IT returns of the company
- Address Proof:- Telephone Bill/Electricity Bill/Shop & Establishment Act certificate/SSI registered certificate/Sales Tax certificate
- 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
Private Limited Company
Eligibility Criteria:
- Minimum Income: Net profit Rs. 60000 p.a for standard cars and Rs.100000 p a for mid-sized and premium cars
- Minimum turnover: Turnover Rs 4.5 lacs
- Telephone: One phone at least at business premises
Documents required:
- Proof of Identity:- NA
- Income Proof:- Audited balance sheet, Profit & loss Account for latest two years and the latest 2 years IT returns of the company
- Address Proof:- Telephone Bill/Electricity Bill/Shop & Establishment Act certificate/SSI registered certificate/Sales Tax certificate
- Bank Statement:- NA
Public Limited Company
Eligibility Criteria:
Minimum Income: Net profit Rs. 60000 p.a for standard cars and Rs.100000 p a for mid-sized and premium cars
Minimum turnover: Turnover Rs 4.5 lacs
Telephone: One phone at least at business premises
Documents required:
- Proof of Identity:- NA
- Income Proof:- Audited balance sheet, Profit & loss Account for latest two years
- Address Proof:- Telephone Bill/Electricity Bill/Shop & Establishment Act certificate/SSI registered certificate/Sales Tax certificate
- Bank Statement:- NA
|
