• HDFC Bank Car Loan Diwali Offers

    Diwali is the most auspicious time to start something new and what can be better than buying a brand new car on this day. This is the time when car manufacturers, banks, and other financial companies offer lucrative discounts and deluge you with complimentary gift vouchers. Just grab this opportunity and buy the lavish car that you have been eyeing in the showrooms for a long time.

    To fulfil your desire of buying the dream car, HDFC Bank is providing car loans at a reasonable interest rate this festive season. The bank will finance for up to 100% of the total cost of the car that you want to purchase. The interest rate of the loan is fixed between 9% p.a. and 10.25% p.a. for new car and from 11.50% p.a. to 17.50% p.a. for pre-owned car purchases depending on the segment of the vehicle. The rate of interest has be fixed in order to shield the borrowers from unpredictable market fluctuations. While applying for the loan, the borrower needs to pay only a one-time processing fee which can be anything within Rs.10,000 based on the loan amount. Moreover, there are customised special offers and benefits for the existing customers who are planning to buy a new or pre-owned car on Diwali.

    That’s not all. If you apply for the HDFC Bank car loan through BankBazaar web portal, you will get a 30-minute approval, and immediately after the disbursal of the loan, you will receive special Diwali gifts and offers.

    Key Features of HDFC Bank Car Loan

    Car loan offered by HDFC Bank features a plethora of amazing benefits which makes it a lucrative option for all the interested buyers. These are:

    • From HDFC Bank, you can get a minimum loan amount of Rs.1 lakh and maximum Rs.3 crore with pocket-friendly EMI option for the purchase of a car.
    • The borrower can get finance on the purchase of new as well as pre-owned cars under HDFC Bank car loan scheme.
    • You will get flexible repayment options and can choose any tenure between 1 year and 7 years.
    • Borrowers need to pay a one-time processing fee. The amount depends on the loan amount and it can go up to a maximum of Rs.10,000.
    • There is no requirement of any collateral and guarantor to avail this loan.
    • After the first 12 months, the bank allows part-payment of the loan at a minimal charge.
    • The rate of interest is lower than the normal market rates and ranges between 9% p.a. and 10.25% p.a. for a new car purchase and from 11.50% p.a. to 17.50% p.a. For buying a pre-owned car.
    • To get approval, salaried individuals need to be within 21 years to 60 years of age and self-employed persons should be between 25 years and 65 years.
    • Salaried and self-employed individuals who have a minimum income of Rs.2.5 lakh p.a. are eligible to apply for a car loan from HDFC Bank. You can also co-apply with your spouse and combine his or her income to get the eligibility.
    • In case of partnership firms, the minimum turnover should be Rs.4.5 lakh in order to be able avail this loan.
    • 2 years of job tenure with minimum 1 year of experience with current employer is required in case of salaried persons. For self-employed individuals, minimum 2 years of business experience is required.
    • In addition to your car loan, you can also apply for a top-up loan from HDFC Bank.
    • Applicants need not go to the bank personally as the bank offers doorstep services to the customers.

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