Auto Loan

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Auto Loan

Travelling has become a part of every individual daily life - be it commuting to work, travelling with your family or even going for a quick weekend getaway. Owning your car will help you meet your needs of comfort travel and convenience, no matter how varied it may be. A car loan can help you get a step closer to owning your dream car.

An instant car loan from HDB Financial Services offers financial assistance for those seeking to purchase a new or used car. We also offer used car refinance for those seeking to refinance existing low interest car loans. Our loan offerings include top ups on existing vehicle loan, attractive interest rates, quick and speedy processing, and a hassle free documentation processing.

We offer three types of auto loans:

1. Loan for New Car purchase

2. Loan for Used Car purchase

3. Loan for Used Car Re-finance

Apply for instant car loan online at HDB Financial Services.


Calculate your Loan EMI instantly


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36
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Loan EMI

₹24,959

Total Interest Payable

₹34,90,279

Total Payment
(Principal + Interest)

₹59,90,279


Availing an auto loan from HDB Financial Services can offer you several benefits:

Apply for online car loan or visit your nearest HDB Financial Services branch to avail the best offer based on your financial profile.

  • Attractive car loan interest rates

    Get the advantage of low car loan interest rates that we offer on your new or used car purchase. We even re-finance the used cars to meet your end-to-end requirements.

  • Top up on existing vehicle loan

    Based on your current needs, you can opt for a top up on your existing vehicle loan if you want to purchase a new car, used car or want to refinance your used/second hand car loan.

  • Car Loan up to 100% of Vehicle Value

    Get a car loan up to 100% of the vehicle value, depending on your eligibility based on new car, used car purchase, or even on used car re-finance. At HDB Financial Services, we try to meet your financial requirement.

  • Flexible Repayment Tenure

    Whether it is a new car purchase, a used car purchases or even a used car re-finance, our flexible repayment tenure of 12 to 84 months ensures that you have no financial burden.

  • Hassle Free Documentation

    Experience a quick and hassle-free documentation with our application for auto finance. When you apply for a new or a used car loan,our process for documentation is very smooth and easy. 
     

  • Repayment Through Convenient EMIs

    Our auto loan offerings for a new car or used car purchase, or even used car re-finance come with flexible repayment options through convenient EMIs. Based on your eligibility, you can opt for the best EMI suited to your needs.

Salaried Individuals:

Eligibility Criteria

  • Minimum age of applicant: 21 years
  • Maximum age of applicant at loan maturity: 60 years 
  • Employment: Minimum 3 years in employment and minimum 1 year in the current organization
  • Minimum Net Monthly Income: ₹ 25,000 per month.

Self Employed (Non-Professionals, Individual & Proprietorship firms): Eligibility Criteria:

  • Minimum age of applicant: 21 years
  • Maximum age of applicant at loan maturity: 65 years
  • Years in business: Minimum 2 years in the same business
  • Minimum Annual Income: ₹ 300,000 per annum.

Self Employed (Partnership Firms & Private Limited Company):

Eligibility Criteria

  • Minimum age of applicant: 21 years
  • Maximum age of applicant at loan maturity: 65 years
  • Years in business: Minimum 2 years in the same business
  • Minimum Annual Income: ₹ 300,000 per annum.

Salaried Individuals:

Documents required:

  • Proof of Identity & Address Proof: Passport / Voters ID / Driving License/PAN Card*/Photo Credit Card / Photo/ Employee ID card for Govt.& PSU employees /Driving License/ Voter ID/ Utility Bill (anyone (anyone which is not more than two months old of any service provider - electricity, telephone, post-paid mobile phone, piped gas, water bill)/ Registered Rental Agreement /Letter of allotment of accommodation from employer/ leave and license agreements with employers allotting official accommodation
  • Bank Statements - Last three months bank statement 
  • Latest 3 Months Salary Slip along with latest Form 16 / ITR / Appointment Letter.
  • Other documents (if any) will be subject to customer category 

Self Employed (Non-Professionals, Individual & Proprietorship firms):

Documents required:

  • Proof of Identity & Address Proof: Passport / Voters ID / Driving License/ PAN Card*/ Shops & Establishment certificate/ Trade license certificate/ SSI registration certificate/ Sales Tax / VAT registration certificate /Utility Bill (anyone(anyone which is not more than two months old of any service provider - electricity, telephone, post-paid mobile phone, piped gas, water bill) /Shops & Establishment certificate/Trade license certificate/ SSI registration certificate- Sales Tax /VAT registration certificate/Driving License/ Voter ID / Registered Rental Agreement /Letter of allotment of accommodation from employer/ leave and license agreements with employers allotting official accommodation
  • Bank Statements - Last three months bank statement 
  • Latest 2 years ITR along with computation of Income and latest 2 years Audited Financials required (if applicable) along with Audit Report 
  • Other documents (if any) will be subject to customer category 

Self Employed (Partnership Firms & Private Limited Company):

Documents required:

  • Partnership deed for firms / Memorandum of Association for companies
  • Proof of Identity & Address Proof: Passport / Voters ID / Driving License/ PAN Card*, Utility Bill (anyone (anyone which is not more than two months old of any service provider - electricity, telephone, post-paid mobile phone, piped gas, water bill) /Shops & Establishment certificate/ Trade license certificate/ SSI registration certificate- Sales Tax /VAT registration certificate/ Registered Rental Agreement/Letter of allotment of accommodation from employer/ leave and licence agreements with employers allotting official accommodation.
  • Bank Statements - Last three months bank statement  
  • Latest 2 years ITR along with computation of Income and latest 2 years Audited Financials required (if applicable) along with Audit Report/ Latest ITR to be filed at least 60 days prior to login of file
  • Passport size photographs
  • Proof of continuation (Trade license / Establishment / Sales Tax certificate/ SSI Registration)
  • Other documents (if any) will be subject to customer category 

Take the next step & manage your immediate financial needs now.

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How to apply for a Car Loan from HDB Financial Services

The loan application procedure for a car loan very is simple. You can apply from any of the following options:

    1. Visit our 'Apply Now' page

    1. Visit our 'Apply Now' page

  • Step 1: Fill in the personal details along with the mobile number OTP verification
  • Step 2: Fill in the Professional details
  • Step 3: Your car loan application is accepted and our representative will get in touch with you soon
  • Step 4: Upload the required documents

    • 2. Download our 'HDB On The Go' android app

  • Step 1: Verify the mobile number with OTP
  • Step 2: Click on 'Apply for a New Loan'
  • Step 3: Enter the required loan and applicant details
  • Step 4: Enter the required address information
  • Step 5: Complete the image/signature

    • 3. Visit your nearest HDB Financial Services Branch and get in touch with our representative at the branch.

    4. Call on our customer support number +914442984541 and apply for a car loan

*HDB Financial Services Ltd may use the services of various agents on its behalf for the purpose of sales and marketing for HDB's products and services

*Terms and conditions apply, based on applicant's eligibility and financial profile

Car Loan FAQ

If you are looking to purchase a new car or a used car, you can opt for a new car finance, or used car finance respectively. If you are looking to refinance your existing used car loan, we also offer used car refinance option.
We offer the following different types of car loans -
  • i. New Car Purchase - Car loan to purchase a brand-new car
  • ii. Used Car Purchase - Car loan to purchase a pre-owned car
  • iii. Used Car Re-finance - Refinancing your existing used car loan for better interest rates
Those who can apply for car loan include-
  • 1. Salaried individuals
  • 2. Self-employed (individuals, non-professionals and proprietorship firms)
  • 3. Self-employed Private Companies and Partnership firms
We provide car finance for almost all passenger cars and multi-utility vehicles manufactured by India's leading automobile companies. Imported car finance is subject to fulfilment of certain terms and conditions.
HDB Financial Services offers a car loan amount up to 100% of the vehicle value. Your car loan eligibility will also play a role in determining the final value of the car loan.
Abiding by the motto of #ReimaginingOpportunities, we value your financial needs and stand by you to offer car finance with the following advantages -
  • 1. Attractive interest rates
  • 2. Top up on existing vehicle loans
  • 3. Loan of up to 100% of the vehicle value
  • 4. Flexible repayment tenure
  • 5. Hassle - free documentation
  • 6. Repayment through convenient EMIs
When applying for a car loan online, you can do it anywhere and anytime without having to travel to any branch. You can instantly get to know the loan amount that can be availed based on your documentation. You can even opt for the type of auto loan you would prefer.
You can track the status of your car loan application by either of following ways -
  • i. Click on 'My Account' on the website. Enter the DOB or PAN number and verify your mobile number with an OTP
  • ii. Using 'HDB - On the Go' android mobile app
  • iii. Use our chatbot 'Ask Priya' on our website
  • iv. Write to us at customer.support@hdbfs.com
  • v. Visit the nearest HDB Financial Services branch. You can locate here
HDB Financial Services may sanction a new or used car loan to you based on your creditworthiness, your eligibility and other internal terms and qualifications.
You can pay the car loan EMI through ACH (Automated Clearing House). If you wish to avail the ACH facility, please contact your nearest branch or write to us at: customer.support@hdbfs.com or raise a service request from our mobile app "HDB on the GO".
Yes, foreclosure and part-prepayment charges are applicable. You can prepay your loan anytime during the tenure. Please visit any of our branches with a Prepayment request form as per format with supporting documents. To read more on the interest rates and charges, click here.
Yes you can get a car loan from your closest HDB Financial Service branch.Click here to locate your closest branch.
Once you have repaid your loan, we will dispatch the No-objection Certificate (NOC) to your address. If for some reason you have not received your NOC, please contact customer care at +914442984541 or email us at customer.support@hdbfs.com. You can also visit any of our branches and our representative will assist you in getting a physical copy of your NOC.

Click here to apply for the best car loan now!