Car Loan Features

Overview

Get the car you want, the way you want it with our Custom-fit Car Loans 

Why not own your dream car today- the one you thought you couldn’t afford for at least a decade more? Our Custom-fit Car Loans come with exclusive features like 100% financing on select vehicles, flexible repayment tenure and pocket-friendly EMI so that you get the dream car you want, in half the time! Our unique Step-up EMI and Balloon EMI Schemes make it easy for you to buy your dream car at more affordable EMIs. This means you can get a bigger car with the EMI of a smaller car.

We offer easy car loans to both salaried and the self-employed. What’s more, we not only help you raise funds but also assist you in researching and finding your dream car. So what are you waiting for? Whether new or pre-owned, apply for a Car Loan today!

It only gets better if you are an HDFC Bank customer. Enjoy quick disbursal of funds, special rates of interest and a lot more. Getting Car Loan in India has never been so easy! So now get the perfect car and the perfect loan the way you want it.

Click to view the status of your New Car Loan application.

ZipDrive-Instant New Car Loan

If you’re looking to get into the fast lane as soon as possible, HDFC Bank has come up with a car loan facility tailor-made for you. ZipDrive is an instant New Car Loan process, exclusively for HDFC Bank customers. 

Through ZipDrive, customers can get the car loan amount disbursed instantly to car dealers through NetBanking anytime, anywhere. So it doesn’t matter in which state or city you’re in, you’re all set to go with an auto loan in double quick time.

To avail: log into your HDFC Bank NetBanking > go to 'offers' tab > click on the ZipDrive banner. The Car Loan amount will be disbursed instantly to the car dealer’s account.

Features:

• Instant disbursal of loan
• 24/7 Online Loan
• Negligible Paper work

Custom-fit Car Loans: Perfect way to get your perfect car the way you want it

Flexible Repayment options:

1. SAFE N EASY (for salaried professionals): This is a special offer for salaried professionals & offers a pocket-friendly EMI which is Up to 75% lower as compared to your regular EMIs. EMIs start at just Rs 899/lakh for the initial 6 months and regularizes after that to make it pocket friendly

Here's a simple illustration for you (for a period 3 yrs) to show how this scheme works:

2. SAFE N EASY (for All customers): This scheme offers a pocket friendly EMI which is Up to 70% lower as compared to your regular EMIs. EMIs start at just Rs 899/lakh for the initial 3 months and regularizes after that to make it pocket friendly

​​​​​​​Here's a simple illustration for you (for a period 3 yrs) to show how this scheme works:

3. 11119999: This scheme allows you to start the repayment of your loan in affordable EMIs, gradually increases it in steps over the tenure and ends with 10% payment at the end of the tenure. Here's a simple illustration to show how this scheme works

This scheme is valid only for a tenure of 7 yrs

4. DIVALOAN: This is a low rate of interest scheme, specially for women. Rate of interest starting just @ 8.20%

5. PAY AS YOU GROW - STEP-UP SCHEME: Step Up EMI is based on the assumption that an individual's income grows over time & a car that may seem unaffordable now could be affordable next year. This scheme allows you to start the repayment of your loan in affordable EMIs and gradually increases EMI amount over the tenure. This scheme allows you to start the repayment of your loan in affordable EMI's and gradually increases EMI amount every year over the tenure of the loan"

Here's a simple illustration to show how this scheme works:

6. FLEXIDRIVE: This is a flexible payment scheme which enables you to pay Up to 50% lower EMIs for any 3 consecutive months in a year over the tenure of the loan.

Here's a simple illustration (for 3 years) to show how this scheme works.

Assumption: Lower EMI is opted for initial 3 months of the year

7. PREMIUM SEGMENT (for loans above 20 lakhs): Now getting your dream car is no longer a dream. Gone are the days of waiting & saving for your next car. We have special schemes that empower you to purchase your dream car NOW!

There are 4 scheme options under this. You can avail them as per your convenience.

a. 3 months Low EMI scheme: You enjoy Up to 70% lower EMIs for initial 3 months. Here's a simple illustration (for 3 years) for an amount of 20 lakhs.

b. Bullet scheme: This scheme enables you to pay equal instalments throughout the year & a bullet lump-sum amount at the end of the year. Here's a simple illustration (for 3 years) for an amount of 20 lakhs

c. Balloon scheme: This scheme enables you to pay equal instalments throughout the tenure and a larger lump sum amount at the end of the term. Here's a simple illustration (for 3 years) for an amount of 20 lakhs

d. Regular + Bullet scheme: This scheme is a combination of regular EMIs and the bullet scheme and is valid for a 7-year tenure. Here you can pay equal instalments throughout the tenure and 30% of the loan amount as lump-sum value at the end of each year for 5 years. Here's a simple illustration for an amount of 20 lakhs

Exclusive offerings#:

1. Health Insurance (Including coverage for COVID-19)

2. Personal accident cover

3. Household cover

4. Up to 3 EMIs paid in case of job loss due to Merger & Acquisition

# These offerings are valid only for select schemes. T&C apply

Terms & Conditions

Credit at the sole discretion of HDFC Bank Ltd.| Maximum Loan Amount is Rs 20 Lakh for selected schemes | Taxes and Other Charges as applicable | Insurance bundled| Zero Foreclosure Charges after 50% Tenure completion subject to minimum 24 Months and Nil Cheque Bounce | Terms and Conditions Apply|

Loan Amount

- Get loan up to ₹ 3 crore on a wide range of cars and multi-utility vehicles 

- Enjoy 100% on-road finance** on your New Car Loan​​​​​​​

Top Up Loans

Existing car loan customers can get a top-up loan with no documentation

Flexible Repayment Tenure

Flexible repayment tenures from 12 months to 84 months

Quick and easy Processing and Approval

- Check your New Car Loan eligibility online or at select branches in just 60 seconds
- Enjoy transparent, quick and easy documentation process
- Get a New Car Loan approval in just 10 minutes 
(Loan processing and disbursement will take at least 7 working days post submission of all required documents and information required by the bank)

Preferred Pricing for HDFC Bank customers

Existing HDFC Bank customers can enjoy preferential pricing with unique schemes designed just for them and can also avail loan in 10 seconds with no documentation.

Funding on Insurance

We offer funding for comprehensive package insurance product which offers protection to individuals like Permanent Total Disability, Accidental Death and accidental hospitalization etc.

Buying assistance

- Compare, research and read reviews on new cars on HDFC Bank’s New Car Bazaar/ Autopedia Mobile App 
- Search for cars by Brand, Price and EMI 
- Test drive assistance available on a wide range of cars for enabling to choose the right car for your needs. 
- Download the Autopedia mobile app for research, latest news and apply for car loan. 

**Offers on specific models. Terms & conditions apply. Loan at sole discretion of HDFC Bank Ltd.