Features of HDFC Bank Car Loans
- Flexible repayment tenure: HDFC Bank Car Loans come with flexible repayment tenures ranging from 12 months to 84 months.
- Step-up / balloon EMI options: You can step up your EMIs at your convenience. This helps you save significantly on your interest costs.
- Zero foreclosure charges: Are you planning to prepay or foreclose your loan? Now you can do that at zero costs. HDFC Bank allows you to foreclose your loan at zero cost after 24 months.
- Top-Up Loans: Need more funds? You can simply apply for a top-up on your HDFC Bank Car Loan just after nine months.
HDFC Bank Car Loan interest rates and charges
Vehicle Loan interest rates are quite affordable when you borrow from HDFC Bank. Here are HDFC Bank's new car interest rates and charges:
Description of charges
New Car Loans
₹650 (charges NOT to be refunded in case of case cancellation.)
Premature closure charges (for full payment)*
If you own a micro or small enterprise and have availed a fixed rate loan facility up to ₹50 lakhs, you will not be charged any premature closure fees if you make a full payment from your own source.
Premature closure charges (for part payment)*
During the loan tenure, part payment will be allowed twice only.
Stamp duty (non-refundable)
Delayed instalment payment charge
18% p.a. (1.5% per month), plus applicable government taxes on overdue instalment amount.
Processing fees* (non-refundable)
0.5% of the loan amount subject to a minimum of ₹3,500 and a maximum of ₹8,000.
For loan facilities up to ₹5 lakhs availed by micro and small enterprises subject to URC submission before disbursal, no processing fees will be charged.
Repayment Mode change charge
₹500 per instance
If you cancel your loan, you will be responsible for paying the Auto Loan interest rate charges from the date the loan was disbursed until the date of cancellation. Processing fees, stamp duty and documentation charges are non-refundable and will not be waived or refunded in the event of loan cancellation.
Legal, repossession and incidental charges
Duplicate no due certificate / NOC
₹250 per instance
Loan reschedulement charges / rebooking charges
₹400 (To make changes on RC, you will need to pay a refundable security deposit of ₹5,000. This deposit is non-interest bearing and will be repaid once you provide the transferred Registration Certificate to the bank.)
LPG / CNG NOC / other special NOC
₹200 per instance
CIBIL charges (only on request)
Payment return charges*
₹450 per instance
Amortisation schedule charges
Customers can download the schedule from e-Delight free of cost. ₹50 per schedule would be charged at the customer service desk.
Commercial / personal use NOC (conversion subject to credit approval)
₹250 per NOC
Registration Certificate (RC) Collection Fees
₹500 (To be refunded in case of case cancellation.)
Rack interest rate
8.80% onwards depending on loan amount, tenure & CIBIL score
RTO transfer charges
The bank will charge a Refundable Security Deposit (non-interest bearing) of ₹5,000 from you. You must provide the transferred Registration Certificate to the bank along with a NOC charge of ₹500.
Points to remember
You are advised not to engage in any cash transactions with the bank’s direct sales associates. You should also avoid making any payments in cash, bearer cheque, or any kind in connection with your loan to the executive handling the loan application.
Apply for an HDFC Bank Car Loan today!
Rates offered to customer during the period of July'23 to September'23
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Annual Percentage Rate offered to customer during the period of July'23 to September'23
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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 the standard grid.
**Collateral charges / PDD collection charges are refundable in case of loan cancellation