If you really think about it, it's easier getting a loan for a car than a loan for bus fare!
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    HDFC Bank Car Loan

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    11.25% - 12.5% Fixed
    Up to ₹2,300 One time fee
    75K Min
    1-7 Years
    Response Time Within 30 minutes
    Paperless approval option available
    9.25% - 11.25% Fixed
    Up to ₹5,150 One time fee
    1L Min
    1-7 Years
    Response Time Within 30 minutes
    Paperless approval option available

    HDFC Bank Car Loan is Rated as "Excellent!" by 5177 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Car Loan BYTES FROM OUR KITCHEN

    HDFC Bank, which was incorporated in 1994, is the fifth largest bank in India by assets. HDFC Bank provides best Auto loans/Car Loans in India. It offers attractive car finance plans for all car segments at lowest rate and covers the widest range of cars and multi-utility vehicles. HDFC Bank can offer a car loan for up to 100% of the value. On BankBazaar.com you can check your eligibility in seconds for a HDFC car loan by filling in a short form and you can apply online. Read on to learn about the eligibility and documentation requirements for HDFC car loan.


    You’re probably eligible for an HDFC Bank Car Loan if you are

    01
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    03
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    HDFC Bank Car Loan Minimum Age

    At least 21 years old

    HDFC Bank Car Loan Maximum Age

    Less than 60 years old

    HDFC Bank Car Loan Eligible Employment Type

    Salaried or self-employed
    with regular income

    HDFC Bank Car Loan Minimum Income

    Earn more than the minimum
    income required


    Your HDFC Bank Car Loan amount eligibility is based on these factors

    01
    02
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    HDFC Bank Car Loan Minimum Salary

    Minimum income required
    Income required of Minimum Rs. 2,00,000 per annum

    HDFC Bank Car Loan Maximum Loan to Value

    Loan capped @
    85% of the ex-showroom price

    HDFC Bank Car Loan EMI

    EMIs of other loans lower
    your eligibility


    Increase your eligible HDFC Bank Car Loan amount by these steps

    01
    02
    HDFC Bank Car Loan Payoff Outstanding Credit Card Bills

    Pay off your credit card bills

    HDFC Bank Car Loan Maximum Tenure

    Choose longer tenure loan up to 7 years


    Documentation needed to apply for an HDFC Bank Car Loan

    • 1. Photo ID and age proof
    • 2. Signed application form with photograph
    • 3. Residence proof
    • 4. Last 6 months bank statement
    • 5. Documentation for salaried applicants:
      • Last 3 months salary – slips
      • Form 16 or Income Tax Returns
    • 6. Documentation for self-employed applicants:

      • Last 3 years Income Tax Returns with computation of Income
      • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account

    HDFC Bank Car Loan Interest RatesUpdated on 03 Dec 2016

    HDFC Bank Car Loan Details
    Interest Rate (Monthly reducing balance) 9.25% to 11.25%
    Processing Fees Up to Rs. 5,150
    Loan Tenure 1 year to 7 years
    Pre-closure Charges Preclosure permitted after 6 months.
    6% of principal outstanding (plus ST) from 7 to 12 months.
    5% (plus ST) in 2nd year.
    No preclosure charges thereafter.
    Guarantor Requirement No guarantor required

    Overview About HDFC Bank Car Loan

    HDFC Bank Car Loan Diwali Offers

    Today, owning a car is more of a convenience factor than a status symbol. And the HDFC Car Loan is regarded as one of the most versatile and well-rounded loan options in India to make this dream a reality. With its India centric approach, over two decades of domain experience, and a comprehensive arsenal of financial products, HDFC Bank is at the forefront of customer satisfaction and range of products, including such ‘in-demand’ options as HDFC Bank Car Loan.

    An Introduction to HDFC Car Loan

    The HDFC Bank Car Loan is loaded with features that are sure to impress the most discerning customer. From the prospect of upto 100% finance to the short duration of just 2 working days for loan disbursal, from fixed interest rates that apply through the duration of the loan tenure to the provision to not submit any income documents when applying for the car loan, these alongside a flexible loan tenure of 7 years make the HDFC Car Loans an irresistible option. No wonder, HDFC counts this product as one of its premier sellers and is further committed to bringing it to many more Indians in the coming times.

    Why Choose HDFC Bank Car Loan?

    The bywords are comfort, simplicity of acquisition and a feature rich product portfolio. A HDFC Car Loan is tuned to make the entire process of acquiring a loan, simple and as comprehensive as possible. Why should you apply for a HDFC Car Loan online? The principle reasons are as follows-

    • Super Attractive Interest Rates- When compared to the other car loan options available in the market, the HDFC Car Loan interest rate is in a league of its own.
    • Super-Fast Loan Disbursal- The entire loaning process with HDFC is hassle free, transparent and quick. HDFC isn’t too keen to be a delaying factor between you and your cherished set of wheels.
    • Super Customer Friendly- From the get-go, the onus is the customer. This will be abundantly obvious in the way HDFC treats you as a potential/existing customer via its competent customer support initiatives.

    Features of HDFC Bank Car Loan

    As with any competent loaning bank, HDFC has loaded its car loan product with sufficient attractive features to attract your undivided attention-

    1. Loan amount equals upto 100% of the cost of the vehicle. Equates also to lowest down payment.
    2. Loan disbursal in just 2 short working days.
    3. The loan processing stage is certified hassle free, transparent and quick.
    4. Fixed interest rates provide security against the upheavals in the market and leave your EMI payments constant.
    5. One of the lowest EMI options in the Indian context.
    6. As per the ‘No Income Document Scheme’, documents detailing your income aren’t mandatory.
    7. Relaxed repayment tenure stretching upto 7 years.

    The simplicity driven loan comparison website, BankBazaar.com, helps you clearly understand the pros and cons of the HDFC Car Loan, thereby evaluating its applicability in terms of your own express situation. Also, the following factors are compelling reasons to choose BankBazaar as the initiator for your prospective HDFC Bank Car Loan-

    Get Instant Quotes- Filling up a simple online form helps us evaluate the perfect loan options for you. Rather than spending a substantial amount of time in finding the right cut, relax, have some coffee.

    Get All the Information- Various parameters are in play when zeroing in on a car loan, including rate of interest, EMI, processing fees, customer feedback etc. With Bankbazzar.com, know every major and miniscule element of your prospective HDFC Car Loan.

    Transparent Workings- Bankbazaar.com isn’t a mediator, a promoter or in cahoots with any bank. Our assessment of the available loan options for you is always impartial and objective, such that you have every last shred of information to make that informed decision.

    Privacy- We treat your personal information with the highest regard. The information you provide is only shared with HDFC Bank, and never shared with a third party for any reason whatsoever.

    Trust- Top banks in India like HDFC, swear by the Bankbazaar.com name. Infact, our reliable online technology has been powerfully adopted by these lenders to provide their customers the best loan experience on their own websites. Check out HDFC’s smart BankBazaar powered initiative, here- www.hdfcbanksmartapply.com

    Applying for the HDFC Bank Car Loan on Bankbazaar.com, is a simple and intuitive process. The following lists the various steps involved-

    Step 1- On Bankbazaar.com’s homepage, access the navigational menu that is located at the top of the page and select the LOANS menu item. Next, select from CAR LOAN option from the drop-down menu. Next, select HDFC Bank Car Loan from the available options.

    Step 2- Spread before you is the page detailing the various attributes of the HDFC Car Loan. Kindly scroll through the page and check the features and benefits associated with this lender. The ‘Apply Now’ option allows you to apply for the car loan from HDFC Bank.

    Step 3- Breeze through an interactive application form that helps us understand your specific requirements. Don’t worry, this form takes all of 3 minutes to fill up and isn’t very technical.

    Step 4- After the submission of the online application, you will receive an instant e-approval from Bankbazaar.com. This application is next transferred to HDFC from wherein a customer support executive will get in touch with you within a short duration of time. Meanwhile, you can track your application through SMS alerts and email.

    Simple? Of course. Subscribing to Bankbazaar.com helps save your time, money and efforts, while assuring you the best loan options that specifically address your exclusive requirements.

    The interest charges billed by HDFC on car loans depends mainly on the segment of the vehicle availed. Check with the nearest branch or call the customer service to ascertain the applicable rate.

    HDFC Car Loan Interest Rate for New Borrowers

    Ranges from 11.50% to 13.75%

    Note: The interest rate is subject to periodic revision as per bank’s credit policy and RBI’s quarterly reviews. Make sure to confirm with the bank on prevailing rates at the time of applying and choose the terms accordingly.

    When talking of the HDFC Car Loan eligibility, there are many factors at play. Kindly match your personal situation with the requirements given below and gauge your eligibility for the same.

    Salaried Employee-

    • Minimum age of 21 years (at inception) and maximum of 60 years (at end of loan tenure).
    • Is employed for a minimum of 2 years, with 1 year at the current employer.
    • Annual income of Rs.1,80,000 (this can include the income of the co-applicant).
    • Has a fixed landline number or a post-paid mobile number.

    Self Employed-

    • Minimum age of 21 years (at inception) and maximum of 65 years (at end of loan tenure).
    • Must be in business for at least 2 years.
    • Annual income of Rs.60,000 (standard car) or Rs.1,00,000 (mid-sized and premium cars).
    • Have a fixed landline number or a post-paid mobile number.

    Self Employed (Partnership firms)-

    • Annual income of Rs.60,000 (standard car) or Rs.1,50,000 (mid-sized and premium cars).
    • Minimum annual turnover of Rs.4,50,000.
    • Have a fixed landline number at office or residence.

    Self Employed (Private Limited Companies)-

    • Annual income of Rs.60,000 (standard car) or Rs.1,50,000 (mid-sized and premium cars)
    • Minimum annual turnover of Rs.4,50,000
    • Have a fixed landline number at office.

    Self Employed (Public Limited Companies)-

    • Annual income of Rs.60,000 (standard car) or Rs.1,50,000 (mid-sized and premium cars)
    • Minimum annual turnover of Rs.4,50,000
    • Have a fixed landline number at office.

    Calculating your EMI amounts to simply clicking away on your computer mouse with the HDFC Car Loan EMI Calculator. This handy tool helps you arrive at your monthly EMI numbers in a matter of seconds. Just follow the simple steps listed below-

    1. At the top of this page, find the ‘Finance Tools’ option in the navigation bar. Click on this to unearth the ‘Car Loan EMI Calculator’ tool.
    2. This tool has two simple scales- ‘Loan Amount’ and ‘Tenure’. Mark your applicable loan amount and tenure on these scales.
    3. Next, on the fields denoted as ‘Interest Rate in %’ and ‘Processing Fee (% of loan amount)’, insert the interest rate and processing fee as applicable to you respectively. Note that, the fields already contain a default value. Change these numbers accordingly.
    4. Click on the red button marked ‘Calculate’ to complete the process.

    The resultant page displays the total interest due, monthly EMI, the amortization details and other specifics concerning your car loan. This simple process would have taken you all of 30 seconds to complete and results in a slab of very comprehensive data. Quick and reliable.

    1. Can I apply for the HDFC Car Loan online on BankBazaar.com?

      Yes. Infact, as a one of HDFC’s privileged partners, your application will be treated on high priority.

    2. I wish to close my HDFC Car Loan before the tenure is up. Is it possible? What is the penalty?

      Yes. With HDFC Car Loans, foreclosure isn’t a problem and the applicable charges are very reasonable. The following rates apply, from the date of availing the loan-

      • Upto 6 months- No charge.
      • 1year from 7th EMI- 6% on outstanding principal
      • 13 to 24 months from 1st EMI- 5% on outstanding principal
      • After 24 months from 1st EMI- 3% on outstanding principal
    3. How do I ascertain the current status of my car loan application?

      After applying for the HDFC Bank Car Loan on BankBazaar, you can track your application through SMS alerts and email. Also, you can get in touch with our customer support team at XXX-FGTY-HH.

    4. Where can I find the HDFC Car Loan application form?

      Applying for the HDFC Bank Car Loan is very simple with BankBazaar.com. Simply, access this page- www.bankbazaar.com/hdfc-car-loan.html and click on the ‘Apply Now’ option.

    5. What are the common documents that will be required when applying for the loan?
      • Identity Proof- Passport, PAN card, Voter’s ID, Driving License.
      • Address Proof- Ration Card, Driving License, Voter’s ID, Passport, Telephone Bill, Electricity Bill, PAN Card, Sales Tax Certificate.
      • Bank Statements- Usually, last 6 months.
      • Income Proof- Latest ITR, Salary Slips, Form 16, Audited Balance Sheet, Profit & Loss Account for latest two years and the latest 2 years IT returns of the company.
    6. How do I contact Customer care for more details on HDFC Bank Car Loan?

      Our friendly customer Care helpdesk will be happy to answer all your queries with regards to the HDFC Car Loans. Hit them at XXX-FGTY-HH or email your queries to [email protected]

    7. Who can apply for a HDFC Bank Car Loan?

      Salaried Employees, Self Employed Individuals (Sole Proprietorship), Partnership firms, Private, Public Limited Companies, Hindu Undivided Families and Trusts can apply for a HDFC Bank Car Loan, provided they fulfil all the eligibility requirements.

    8. I have an account with HDFC Bank. Will I get any extra benefits when I apply for car loan offered by HDFC Bank?

      Yes, HDFC Bank account holders avail extra benefits such as special interest rates on the car loans offered by the bank. If you have a corporate salary account or a preferred account with the bank for over 6 months, your car loan will be quickly approved. If you already have a HDFC Bank Car Loan and have cleared the amount for up to 12 months and more, then you will receive a Top – Up on your loan.

    9. What type of cars does HDFC Bank provides a car loan for?

      HDFC Bank provides car loan for new and pre-owned cars. In case of new cars, the bank provides loans for passenger cars and multiutility cars that are manufactured by automobile companies in India.

    10. What is the minimum and maximum age requirement for applying for a car loan from HDFC Bank?

      An individual needs to be minimum 21 years old to apply for a car loan from HDFC Bank. The maximum age for a salaried employee is 60 years and a self – employed individual is 65 years.

    11. What is the minimum income that an individual should earn to be eligible for HDFC Bank Car Loan?

      A salaried individual should earn a minimum of Rs.1, 80, 000 yearly to be eligible for HDFC Bank Car Loan. A self – employed individual, who is a sole proprietor, must earn a minimum of Rs.60, 000 yearly, if he or she is planning on buying a standard car and Rs.1, 00, 000, if he or she is planning on purchasing a premium or a mid – sized car.

    12. Is it mandatory to have a co – applicant or guarantor while applying for a car loan by HDFC Bank?

      No, it is not mandatory to have a co – applicant or guarantor while applying for a car loan by HDFC Bank. It is mandatory only for the applicants who do not qualify the income criteria to have a co – applicant or a guarantor.

    13. Where can I find the application form for HDFC Bank Car Loan?

      You can find the application form for HDFC Bank Car Loan on the website of the bank. HDFC Bank allows its customers to apply for a car loan online on the website of the bank itself.

    14. How to apply for a HDFC Bank Car Loan?

      To apply for a HDFC Bank Car Loan, people have to visit the website of the bank and scroll down to the ‘Apply Online’ section on the homepage. There they have to select ‘Car Loan’ from the ‘Loans’ drop down menu. They will be redirected to the online application form, where they have to first check if they are eligible for the car loan or not. If they are eligible, they can proceed with the next step of completing the form and submitting it online.

    15. Can I track the status of my HDFC Bank Car Loan application online?

      Yes, you can track the status of your HDFC Bank Car Loan application online. To check, you have to visit the website of HDFC Bank and click on ‘Loan’ on ‘Track your application – Card, Loan’. Enter the details on the next page to know the status. You can also track the status by clicking on ‘Car Loan’ on the homepage of the website and selecting the type of car loan you have applied for (New or Pre- owned Car Loan), where you will find the option for checking the application status.

    16. What documents do applicants have to submit as income proof while applying for a HDFC Bank Car Loan?

      Applicants have to submit the following documents as income proof while applying for a HDFC Bank Car Loan –

      • Salaried Employees have to submit their latest salary pay slip along with form 16
      • Self Employed Individuals have to submit their latest Income Tax Return
      • Partnership firms have to submit their Audited Balance Sheet, Profit and Loss Account for recent 2 years and Income Tax Returns of the company for the recent 2 years
      • Private Limited Companies have to submit their Audited Balance Sheet, Profit and Loss Account for recent 2 years and Income Tax Returns of the company
      • Public Limited Companies have to submit their Audited Balance Sheet and Profit and Loss Account for recent 2 years
    17. What is the processing fee for HDFC Bank Car Loan?

      The processing fee for HDFC Bank Car Loan is dependent on the amount of loan.

      • For a loan amount of up to Rs.2, 50, 000, the processing fee is Rs.2825
      • For a loan amount of more than Rs.2, 51, 000 and up to Rs.4, 00, 000, the processing fee is Rs.3850
      • For a loan amount of more than Rs.4, 01, 000 and up to Rs.5, 00, 000, the processing fee is Rs.4300
      • For a loan amount of more than Rs.5, 01, 000 and up to Rs.10, 00, 000, the processing fee is Rs.4650
      • For a loan amount of more than Rs.10, 00,000, the processing fee is Rs.5150. This processing fee is not refundable.
    18. Does CIBIL score make a difference while applying for a HDFC Bank Car Loan?

      Yes, CIBIL scores makes a difference while applying for a HDFC Bank Car Loan. The higher your score, the better chances you have in getting a good deal on your loan from the bank.

    19. What is the minimum amount that I can borrow through a HDFC Bank Car Loan?

      You can borrow a minimum amount of Rs.1, 00, 000 through a HDFC Bank Car Loan.

    20. What is the maximum amount that I can borrow through a HDFC Bank Car Loan for a new car?

      You can borrow a maximum of 90 percent of the value of the car mentioned in the invoice through a HDFC Bank Car Loan for a new car. Salaried individuals can avail up to 3 times their annual salary and self - employed individuals can avail up to 6 times their yearly income.

    21. What is the minimum tenure of a car loan offered by HDFC Bank?

      The minimum tenure of a car loan offered by HDFC Bank is 12 months.

    22. What is the maximum tenure of a car loan offered by HDFC Bank?

      The maximum tenure of a car loan offered by HDFC Bank is 7 years.

    23. Can I pre – close my HDFC Bank Car Loan?

      Yes, you can pre – close your HDFC Bank Car Loan after 6 months of availing the loan. You are not allowed to close it before 6 months.

    24. What are the pre – closure charges on HDFC Bank Car Loan?

      The pre – closure charges on HDFC Bank Car Loan are as follows –

      • 6 percent of the principal pending amount, if you plan to pre – close your loan within 12 months from the 7th EMI
      • 5 percent of the principal pending amount, if you plan to pre – close your loan within 13 months to 24 months from the 1st EMI
      • 3 percent of the principal pending amount, if you plan to pre – close your after 24 months from the 1st EMI
    25. Does HDFC Bank charge a late payment fee from individuals who fail to pay their car loan EMI on time?

      Yes, HDFC Bank charges a late payment fee from individuals who fail to pay their car loan EMI on time. The late payment fee is 2 percent per month.

    26. What is the verification process for car loans offered by HDFC Bank?

      The verification process for car loans is the same for most banks. HDFC Bank car loan applicants will have to meet the eligibility criteria and submit all the required documents and the application form, after which the bank will start the approval and verification process. HDFC Bank provides car loan approvals in 30 minutes.

    27. How long will it take HDFC Bank to process the car loan?

      It will take 48 hours for HDFC Bank to process the car loan.

    28. Do I have to submit any documents to HDFC Bank after the loan is disbursed?

      Yes, you have to submit a copy of the following documents to HDFC Bank after the loan is disbursed –

      • Documents of the car
      • Registration Certificate
      • Tax papers
      • Insurance policy
    29. How can I repay my HDFC Bank Car Loan?

      You can repay your HDFC Bank Car Loan in the following ways –

      • You can provide Standing Instructions to the bank. It means that you are permitting the bank to automatically deduct the EMI from your bank account
      • You can use ECS facility if you are repaying the amount using an account that you hold with another bank. ECS or Electronic Clearing Service facility is a service through which you allow the bank to deduct the EMI directly from your other bank’s account
      • You can also repay your car loan through Post- Dated Cheques
    30. Am I allowed to sell the car before I repay the amount that I borrowed through HDFC Bank Car Loan?

      No, you are not allowed to sell the car before you repay the full amount that you borrowed through HDFC Bank Car Loan.

    31. Can I change the repayment mode of my HDFC Bank Car Loan?

      Yes, you can change the repayment mode of your HDFC Bank Car Loan. To do so, you have to visit the nearest Retail Loan Service Centre of the bank and place your request.

    32. How can I avail a NOC for a car loan that have been fully repaid to HDFC Bank?

      You can avail a NOC for a car loan that have been full repaid to HDFC Bank from any of the bank’s Retail Loan Service Centre. You have to submit

      • A self - attested copy of the RC Book (Registration Certificate)
      • A fee of Rs.500 via cheque or DD or pay order in favour of ‘HDFC Bank Ltd Loan Account No. << >>’
      • Request form for duplicate NOC or Form 35

      If someone else places the request on behalf of you, he or she has to provide authorization and KYC documents. Please contact HDFC bank to get more details about NOC.

    33. Does the car loan provided by HDFC Bank cover insurance and registration charges?

      No, the car loan provided by HDFC Bank does not cover insurance and registration charges. The loan amount is calculated on the basis of the ex- showroom price of the car, which is not inclusive of these charges.

    34. Does HDFC Bank provide pre- approved car loans?

      Yes, HDFC Bank provides pre- approved car loans.

    35. How much money can an individual avail through HDFC Bank Pre- owned Car Loan?

      An individual can avail up to 85 percent of the value of his or her car through HDFC Bank Pre-owned Car Loan.

    36. Who can I speak to in order to get more details about HDFC Bank Car Loan?

      In order to get more details about HDFC Bank Car Loan, you can contact the customer care department of HDFC Bank. You can also get in touch with them through the website of the bank or contact on the toll - free number.

    HDFC Bank Car Loan Diwali Offers – October 2016

    If you’re looking to buy a car this Diwali, it’s the perfect time to do so. Not only is Dhanteras auspicious, it’s also overflowing with discounts and amazing deals. HDFC Bank provides funding for up to 100% of the cost of the car. The car loan is flexible with repayment tenures up to 7 years. Existing customers get a sweeter deal on car loans with pre-approved offers. Fixed interest rates protect customers from market fluctuations. HDFC Bank offers super-fast loan approvals, hassle-free processing, low down payment requirement and low EMIs. On BankBazaar, you can explore detailed information about this loan and apply online. BankBazaar offers an Amazon gift card and Goibibo goCash to customers who apply for the HDFC Bank car loan during the Diwali season.

    News About HDFC Bank Car Loan

    • Banks woo retail borrowers with freebies

      Banks are luring its customers for home loans, and car loans with some freebies and more, in this festival season. State Bank of India has waived the processing fees for approved housing projects, and online home loan applications. Bank of Baroda (BoB) and Punjab National Bank are also providing home loans at concessional interest rates, personal loans, and vehicle loans. According to the GM, retail banking of BoB, Ashok Aneja, there has been a 0.25% reduction in the interest rates on car loans, and home loans, across the board. Kotak Mahindra Bank is also offering personal loans at discounted rates as well as EMI holiday schemes for some specific segments. HDFC Bank has also come up with a set of waivers on two-wheeler loans, specifically for government employees. Banks such as HSBC has also collaborated with Bookmyshow, Marks & Spencer Cleartrip, and Big Basket to offer discounts with credit card loans, this festival season.

      2nd November 2016

    • HDFC slashes rate by 35 base points to 9.35%

      Posted on 24th September 2015


      HDFC has taken a bold step and reduced its base rates by 35 base points to 9.35 percent compared to the previous 9.7 percent before. This will compel other banks to follow suit. This will make HDFC the cheapest bank for many blue chip conglomerates. According to Ashish Parthasarthy, head of HDFC treasury, the resource accountability management commission has taken this decision due to a significant reduction in the funds expenses. The bank had previously cut its deposit rates and at present gives a high return of 8.2 percent under its basic fixed deposits. They also plan to revise their deposit rates. Also, majority of the HDFC’s retail loans such as car loans, and borrowing against shares.

    • “30-min” Car Loans Offered by HDFC Bank

      Posted on 6th July 2015


      HDFC Bank, one of India’s largest private banks, has launched two new vehicle loan schemes namely, '30-min car loans. Existing customers of the Bank as well as new customers, can avail these loans by providing their biometric details such as the Aadhaar card number and fingerprint. The Bank approves the loan quickly, with minimal documentation, to those who are eligible for the loan.These new loan schemes have been launched under HDFC Bank’s “Go Digital” policy. The Bank, through its digital banking initiatives, aims to enhance efficiency and customer convenience.

    • Want an Auto Loan? Get it in 30 minutes from HDFC Bank

      Posted on 12th June 2015


      India’s second largest private sector bank, HDFC, is using advanced biometrics technology to process and disburse car loans in just 30 minutes. This, alongside other fast loan processing initiatives from HDFC in recent times, is part of the bank’s foray into a prospective, completely digitised future. Herein, the biometrics technology is linked to the applicant’s Aadhaar card details and his/her complete profile is sourced, toss in some additional details and the car loan is ready for disbursal in 30 minutes flat. HDFC has already deployed this technology at 200 car dealerships across India, and customers have driven out their vehicles in under 30 minutes. The system obviously works, and HDFC plans to deploy this technology across 300-400 car dealerships pan India through the current financial year. This product is available to prospective car buyers who have an HDFC Bank Account as well as those who don’t.

    • HDFC Bank Launches a Mobile Banking App for Apple Watch

      Posted on 28th April 2015


      HDFC Bank is launching WatchBanking, the mobile banking app for Apple Watch. With this move, the bank will become the first lender from India and one of the few lenders in the world to offer an app for the much anticipated smartwatch from Apple. The Apple Watch will be available to consumers around the world starting April 24.


      The WatchBanking app from HDFC Bank will feature 8 - 10 of the commonly used feature of its mobile banking app. The customers of the bank will be able to complete around 11 banking transactions with this app. Nitin Chugh, the digital banking head of HDFC, informed that the bank started developing the app as soon as Apple released the development kit for Apple watch.

    • HDFC Bank Awarded the Title of ‘Best Private Banking Service’ in India

      Posted on 6th March 2015


      HDFC Bank has won another accolade to its name in 2015, for it’s efficiency and excellence in providing quality banking services in India. Euromoney Private Banking and Wealth Management Survey has conferred this award to HDFC Bank in the net-worth-specific services category as well as in the Asset Management category. This survey is one of the most well recognized and acknowledged benchmarks for analysing global wealth management industries, and its awarding to HDFC Bank, one of India’s leading private sector banks, marks an important milestone in the latter’s growth.

    • HDFC’s net profit soars high to beat estimates

      HDFC’s net profit for October-December increased by 20% to Rs.2795 crore from Rs.2326 crore during the same period in 2013. Bloomberg analysts had earlier predicted the profit to be around Rs.2,770 crores. The bank witnessed a growth in Net Interest Income (NII) by 23% as a direct result of increase in the capital loans to companies and individuals. The Net Interest Margin (NIM), defined as the difference between the interest a bank earns and the yield it pays for its deposit, also increased to 4.4% from 4.2% in 2013.


      The bank reported that there was a pick-up in retail loans this year and the loan book has increased by 17% as compared to the previous year. The bank also observed an increase in bad loans by 44% as it did not have the benefit of write-back this year. As the loan growth is directly proportional to the consumption and expenditure demand, increase in GDP growth rate is also expected to contribute to the loan growth.

      23rd February 2015

    • Rising loan demand elevates HDFC bank’s Q3 profit

      Backed by an increase in corporate and retail credit demand, HDFC has recorded a 20.2% growth in Q3 profit. HDFC’s net profit for Q3 rose to 27.95 billion as against 23.26 billion in the same period, a year before. HDFC’s advances have also increased by 17% as compared to the previous quarter. Banks in India were hit by an economic slowdown for the past two years but with the growth of the economy, predicted at 7.4%, Asia’s third largest economy is expected to gather pace.


      The bank’s Deputy Managing Director Paresh Sukthankar also noted that the demand for loans is expected to rise in the coming quarters. In order to boost the capital to support the growing credit demand, HDFC has raised $1.6 billion from stock sales.

      20th February 2015

    • Car buyers are increasing the demand for Car Loans,Says Experian

      The US auto market is back in the race with Americans yet again on a spending spree. Be it for a new car or a used car, the report from Experian Automotive only spells bloom for the cars and the car loan market.


      In the last quarter of 2014 from July to September, just the amount of average car loan for the purchase of a new car stands at just a shade under 28,000 dollars which is a spike of 1,080 dollars. The used car loan market is also not far behind with a tall climb of up to $18,576. With rising car prices and higher car loan interest rates, the Americans are off setting rising costs by leaning towards car leasing and top up loans and in order to reduce the burden on the high monthly car loan payments. Experian data says that both the loans for used car and new cars at the peak of their prowess. This does not come as a surprise as Americans are borrowing more than ever to buy their dream cars. Even the price paid for buying a car at the showroom is hitting the roof top which stands tall at $31,000 for new cars. Experian further says that the average monthly payment for new car loans is at $470 from just 12 dollars in the last three months.

      9th December 2014

    • HDFC Offers Discount Deals On Car Loans

      Growing competition in the car loan segment has led many banking and non-banking auto-financiers to revise their existing schemes so as to make them more attractive to potential customer.

      Most banks are renewing efforts to enhance their retail loan portfolios given the low demand for corporate credit. Overall car loan disbursals have been steadily increasing over the last year triggering heavy competition in this segment.

      Going by the trend witnessed over the last 6 months, leading players feel bringing down interest rates will continue to be the most lucrative way to draw in new customers .A reduction of, at least, 10 - 20 basis points on the current range of 10.00% - 11.25% is to be expected. The stiffest competition, though, will come from NBFCs whose offers can go well below the 10% base rate that banks have to adhere to.

      The RBI had recently expressed its displeasure at such tactics employed by lenders to lower interest charges without a corresponding reduction in base rates. This prompted some financiers to adopt alternate methods to attract borrowers. HDFC Bank, for example, choose to maintain quality while increasing numbers by offering discount deals to select creditworthy customers.

      24th September 2014

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