HDFC Bank Car Loans

HDFC Bank Car Loan

Processing Fee

1 - 7 Years


What is the minimum amount I can borrow as HDFC Car Loan?

You can borrow minimum Rs. 1 Lac for a HDFC Car Loan.


What are the special benefits the existing HDFC Bank customers?



When can I prepay my entire loan? And what are the applicable charges?

You can pre-close your loan account any time after 6 months of availing of the loan. A fee of 6% of Principal Outstanding if preclosed within 1 year from 7th EMI, 5% of Principal Outstanding if preclosed within 13-24 months from 1st EMI, and 3% of Principal Outstanding if preclosed post after months from 1st EMI.


Can I make a partial payment towards my Car Loan? Will any charge be applicable?

Yes, you can make part-payment for your HDFC Car Loan. Part-payment is allowed if 12 EMIs of the loan are paid. Part-payment can be made twice only during loan tenure and only once a year. At any point of time, part-payment should not increase more than 25% of Principal Outstanding.


A fee of 5% on the part-payment amount if payment made within 13-24 months from 1st EMI and 3% on the part-payment amount if made after 24 months from 1st EMI.


Which cars can be financed using HDFC New Car Loan? And, does HDFC bank have any tie-up arrangements with any company?

HDFC Bank provides finance for most passenger cars and multiutility vehicles manufactured by India's leading automobile companies.


Currently, you can avail HDFC New Car Loan to purchase a car of any of the following car brands –



Do I need a guarantor or co-applicant for Car Loans?

You don’t need a guarantor or co-applicant in general, but if your income does not meet the credit criteria of HDFC Bank then you may be required to have a Guarantor/co-applicant, who is able to stand surety for your loan.


How long will it take for my Car loan to be processed?

It may take 5 day in Urban areas and up to 7 days in Semi Urban and Rural areas.


Do I have an option to pay a skipped/ missed EMI for New Car Loans?

Yes, you can pay a missed EMI online. In order to pay your skipped EMI, you need to provide your HDFC Bank Loan details, confirm payment towards HDFC Bank Loan account post which you will receive an online transaction confirmation and a Transaction Reference Number. Click here to make a payment.


How can I get a NOC from the bank for fitting an LPG/CNG kit on my vehicle under finance with the Bank?

You may obtain the NOC for fitting an LPG/CNG kit on your registered vehicle under finance with us by visiting any of our the Retail Loan Service Center and submitting the following documents –



How can I get my address changed in my loan account?

To change your address in the records of HDFC Bank, you need to visit the HDFC Retail Loan Service Center and submit the following documents –



What happens if a customer misses the payment on the due date?

A late payment fee will be levied to the customer.


What is CIBIL?

CIBIL stands for Credit Information Bureau India Limited. The aim of CIBIL is to fulfil the need of credit granting institutions for comprehensive credit information by collecting, collating and disseminating credit information pertaining to both commercial and consumer borrowers, to a closed user group of members. Banks, Financial Institutions, Non-Banking Financial Companies, Housing Finance Companies and Credit Card Companies use CIBIL's services. Data sharing is based on the Principle of Reciprocity, which means that only Members who have submitted all their credit data may access Credit Information Reports from CIBIL.


The establishment of CIBIL is an effort made by the Government of India and the Reserve Bank of India to improve the functionality and stability of the Indian financial system by containing NPAs while improving credit grantors' portfolio quality. CIBIL provides a vital service, which allows its Members to make informed, objective and faster credit decisions.